Professional Documents
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May 28, 2024 Tuesday DailySUN
May 28, 2024 Tuesday DailySUN
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DAILY SUN Tuesday, May 28, 2024
@Thesunnigeria The Sun Nigeria @TheSunNigeria Linked The Sun Ngeria Sun Radio The Sun TV www.sunnewsonline.com Sunonlineteam@gmail.com
Transcorp Group posts N197bn revenue across the country by employing the services of the newspa-
per’s numerous coreespondents in the states and the Federal
Capital Territory, FCT, before arriving at the unanimous deci-
...Elumelu calls for full power sector privatisation tion capacity from 710MW
in 2023 to 908MW in 2024,
sion to crown Julius Berger as Constrcution Company of the
Year.
as well as to take advantage Said he amidst applause: Transport Day has grown to be ac-
From Adanna Nnamani ity recovery and improved reformed and uncashed Ni- knowleged as the acclaimed authority in reporting activities
and Nmasi Okwor, Abuja fg\iXk`feXc \]ÔZ`\eZp Xe[ gerian power sector, fully of the bilateral power sale
in the Transport sector. We have also received accolades for
maintenance to grow value contributing, as it must, to opportunities arising from our objectivity and professionalism. The emergence of Julius
TRANSNATIONAL Corpo- for our stakeholders. Our Nigeria’s economic renais- the enactment of the 2023 Berger as the Construction Company of the Year of the lot was
ration PLC, also known as overall performance under- sance and social rebirth” Electricity Act by entering a product of painstaking work by our correspeondents across
Transcorp Group, has report- scores our commitment to Looking ahead to 2024, into agreements with stra- the states as well as diligent stakeholders, who overwhelm-
ed an annual gross earnings k_\ Zfek`el\[ \o\Zlk`fe f] Elumelu mentioned that tegic electricity distribution ingly voted for the giant engineering construction company.
of N197 billion for 2023. our strategy to generate sus- the group aims to sustain its companies and eligible cus- Welldone julius Berger and congratulations.
The group saw a 47% rev- tainable economic returns `dgi\jj`m\ ÔeXeZ`Xc g\i]fi- tomers. Continued on www.sunnewsonline.com
enue increase from N134 bil- n_`c\dXo`d`j`e^j_Xi\_fc[- mance by optimising its sub- “In addition, we will fur-
k_\iZfejfc`[Xk\k_\\o`jk`e^
BRIEFCASE
lion in 2022 to N197 billion ers’ value,” he said. sidiary businesses, utilising
in 2023, accompanied by a The business magnate also innovation, strengthening Y\e\Ôkj ]ifd fli d\dY\i-
0+i`j\`egifÔkY\]fi\kXo called on the federal govern- brand value, and consider- ship of the West African Pow-
from N30 billion to N59 bil- ment to fully privatise the `e^\ogXej`fe`ekffk_\ib\p er Pool, by increasing our Companies info in brief
lion. country’s power sector to en- sectors. share of the regional electric-
Furthermore, total assets _XeZ\ \]ÔZ`\eZp Xe[ i\jZl\ He said the key priorities ity market,” he added. NSIB commences investigation
rose by 20% to N530 billion, it from total collapse. for the power sector were
and Shareholders’ funds Elumelu noted that de- to increase and maintain its Continued on into train derailment
grew by 21% from N155 bil- spite the privatisation ef- combined available genera- www.sunnewsonline.com THE Nigerian Safety Investigation Bureau (NSIB) has com-
lion to N187 billion. forts that began in 2012, menced investigation into the train derailment which oc-
Tony Elumelu, Chairman only partial privatisation has curred at Jere station on its way to Abuja on May 26th.
of the Board of Directors of occurred, with the Trans-
mission Company of Nigeria
Zenith Bank CEO, Onyeagwu, The bureau said the train departed Rigasa station, Kaduna
Transcorp Group, disclosed at 8.00a.m to Idu station, Abuja, with 685 onboard and at ap-
k_\j\ÔeXeZ`XcXZ_`\m\d\ekj
during the annual general
(TCN) being fully owned by
the government, while elec-
bags award of International Banker for the
gifo`dXk\cp 01)/X%d# `k XggifXZ_\[ A\i\ jkXk`fe% 9lk n_`c\
navigating a switch point north of Jere, the baggage van and
THE Group Managing Direc- honour. He stated, “It is indeed one passenger coach derailed. The derailed coaches were
meeting in Abuja on Mon- tricity distribution compa- an honour to be recognised
day. nies (DisCos) are 40% gov- kfi&:_`\] <o\Zlk`m\ F]ÔZ\i f] [iX^^\[Xggifo`dXk\cp/-]\\k]ifdk_\jn`kZ_gf`ekY\]fi\
Zenith Bank Plc, Dr. Ebenezer as the ‘Best Banking CEO of
Elumelu attributed the ernment-owned. He added the Year in Africa’ for a second coming to a stop.
Onyeagwu, has been named The bureau also revealed that crew members onboard in-
success to substantial in- that the government also the ‘Best Banking CEO of the consecutive year. This award is
vestments that led to strong holds ownership stakes in a testament to our team’s col- cluded two drivers, two train guards, three traveling ticket
Year in Africa’ at the Interna- collectors, 20 police escorts and four bomb disposal unit
growth in the group’s power some Generation companies tional Banker 2024 Banking lective efforts and our commit-
(GENCOs). ment to innovation, growth, members. The train consisted of 10 coaches, one baggage van
and hospitality sectors. Awards, retaining this title for and two locomotives.
“In the hospitality busi- He said: “To enable the the second consecutive year. and delivering value to our
customers and stakeholders. It The NSIB stated that there were no injuries to passengers
ness, consolidating on the j\Zkfi kf Y\ \]ÔZ`\ekcp ile This award, published in the or crew members as all passengers safely disembarked and
previous year’s successful by the private sector, I rec- Spring 2024 issue of Interna- Xcjf i\Õ\Zkj fli [\[`ZXk`fe kf
tional Banker Magazine, United sustainability and high ethical were transported with the rear locomotive and the remain-
performance, we achieved ommend that the Federal standards, which are integral ing eight coaches to Abuja, arriving at 12:32p.m. The front
an impressive increase in av- Government should come Kingdom, coincides with Dr.
Onyeagwu’s completion of his to our overall strategy. I am im- locomotive, the derailed coach and another unaffected coach
erage occupancy rate growth out with a clear timeline for mensely proud of our accom- remained at the site of the incident.
the full privatisation of the Ôm\$p\Xik\eli\Xj>iflgDXe-
from 78% in 2022 to 81% in X^`e^;`i\Zkfi&:_`\]<o\Zlk`m\ plishments and look forward ;`i\Zkfi >\e\iXc f] k_\ EJ@9# :Xgk% 8c\o 9X[\_# jX`[1
2023, with an average daily power sector, starting with F]ÔZ\ifeDXp*(#)')+% to future opportunities for the ÈGi\c`d`eXip]XZk$Ôe[`e^le[\ikXb\eYpfli`em\jk`^Xkfiji\-
rate (ADR) of N139,000. the DISCOs and Transmis- Speaking on receiving the bank as I hand over the baton vealed that the train was traveling at a speed of 90 km/h in the
“In our power business, we sion Company of Nigeria. XnXi[#;i%Fep\X^nl\ogi\jj\[ to my successor and begin the section leading up to Jere Station and reduced to 23 km/h on
`em\jk\[`ej`^e`ÔZXekZXgXZ- look forward to a fully his gratitude to the publishers mandatory regulatory cooling- approaching the station.
off period.” Dr. Onyeagwu dedi-
cated the award to the Founder Continued on www.sunnewsonline.com
and Chairman of Zenith Bank
Plc, Dr. Jim Ovia, CFR, for his
mentorship, which was crucial Int’l crude oil and
to his success as Group Manag-
ing Director/CEO; to the bank’s commodity prices
management team and staff for
their unwavering commitment Brent crude oil- $82.84 +0.88%
fm\ik_\gXjkÔm\p\Xij2Xe[kf WTI crude oil - $78.43 +0.91%
the bank’s customers for their
loyalty. Natural Gas - $2.54 +0.75%
Throughout his distin- RBOB Gasoline- $2.50 +0.60%
guished tenure, Dr. Onyeagwu
has received multiple awards, Heating oil - $2.44 +1.16%
including Bank CEO of the
Year (2019, 2023) by Cham- Prices as at 27/5/2024
pion Newspaper, Bank CEO
of the Year (2020–2023) by
BusinessDay Newspaper, CEO
CEO Quote
of the Year (2020 and 2021)
– SERAS Awards, and CEO of
the Year (2022) – Leadership Every time you make the hard, cor-
Newspaper, rect decision you become a bit more
and Banking courageous, and every time you make
CEO of the
Year, Africa the easy, wrong decision you become
(2023) - In- a bit more cowardly. If you are CEO,
ternational these choices will lead to a coura-
Banker. •Onyeagwu geous or cowardly company.”
Continued on
www.sunnewsonline.com – Ben Horowitz, CEO of Opsware
DAILYSUN Tuesday, May 28, 2024 Page 3
CALL 08052088288 Nigerian, based in the United rounding her death. my daughter pushed her into
Kingdom, Alanis Ogundipe, Alanis Ogundipe, 26, al- depression and she started be-
08109473658 her father, Oladapo Ogundipe, legedly committed suicide by ing traumatised. My daugh-
has called on the UK govern- jumping into a moving train in ter was so ignorant that she
Manchester, UK, but her father thought she would not be able
said he is suspecting a foul play. to meet anyone again due to the
Gunmen kidnap ESUT alumni association president, son ransom for their release.
At a press briefing, yesterday,
in Ikeja, Lagos, father of the
infection. Also, if they wanted
to do anything together, he
From Jude Chinedu, Saturday, near Four Corners yesterday (Saturday) at Nvene, deceased wants the UK police would loan her the money, so as
Junction, as the victims were He said, “We are deeply near Four Corners Junction, as to take drastic action, so as to to make her do it. He will first
Enugu concerned and shocked to an-
returning from Nachi in Udi they were returning from Na- unravel the reason she allegedly tell her it was a gift and later tell
Local Government Area of nounce the kidnapping of Dr. chi in Udi Local Government committed suicide. her it was a loan,” he said.
GUNMEN have kidnapped Obi Ilo, the President of Enugu
the President, Enugu State Enugu State. Area of Enugu State. The devastated Ogundipe The traumatised Ogundipe
A member of the associa- State University of Science and “Tragically, Dr. Ilo recently said he has written to the UK further explained that when
University of Science and Technology (ESUT), Alumni
Technology (ESUT) Alumni tion, Dr Maxwell Ngene, who lost his wife, and her body is police, but they have not done Alanis was expecting to collect
raised the alarm in a statement, Association and his son, Ka- still at the Eastern Nigeria Hos- anything serious about the the sum of £102,000 in May
Association, Dr Obi Ilo, and msy Ilo, a Computer Science
his son, Kamsi Ilo. on Sunday, said their abductors pital Enugu. This senseless act matter. He also said he equally 2023 from home for a project,
were demanding N20 million student of ESUT. of violence has added to the wrote to the Nigeria High Com- at the same time she was also
The abduction occurred on “This heinous act occurred family’s already unimaginable mission in the UK, but one year expecting her new salary of
grief. after, the commission has still £2,000 which was expected on
Police arrest blogger who accused E-Money of kil ing Junior Pope “The kidnappers, who have
shown no regard for human
not responded to his letter. He
said he strongly believed that
May 28, 2023, and an addition-
al £100,000 on May 30, 2023.
By Christopher Oji police and we investigated was not true. I made the video life, are demanding a ransom his daughter was murdered by
and arrested the suspect,” the out of trying to boost my page “Alanis’ passport was re-
of N20 million. In a distress her ex-boyfriend, who she met quested on May 26, 2023, for
THE Lagos State Police Com- police image maker added. traffic level. I never knew phone call, Dr. Ilo was heard in June 2022.
Hundeyin warned social it would go viral the way it her to collect £100,000 I want-
mand has arrested an online crying and pleading for help, He said his daughter’s pre- ed to send to her which was
blogger, Stanley Okoruwa, for media users against contents went. I don’t intend to spoil urging colleagues, friends and dicament started when her
that are injurious to other Sir E-Money’s name. I was meant for a particular invest-
allegedly defaming interna- brothers to be contacted. boyfriend allegedly infected her ment in the UK. Both herself
tional businessman, Emeka people’s personalities, stress- just making the video, I didn’t “We condemn this cruel and with a disease, Herpes, which
ing that action may be taken know it would go so wide. and her brother had also been
Okonkwo, popularly known inhumane act in the strongest the daughter saw as a stigma notified on May 19, 2023, that
as “E Money”. against them if reports of their “I know the contents of possible terms. We appeal to that should not be exposed to
contents were found offensive the video were wrong of me they would be visiting Nigeria
The suspect, who was the security agencies and the the public and decided to keep shortly.
paraded before newsmen, by anyone. to have made. I didn’t know government to take immedi- it a secret. Ogundipe said her
The suspect, while address- the video would escalate to Her boyfriend, who knew
yesterday, at state com- ate action to ensure the safe daughter’s boyfriend, who dis- about these, broke into her
mand headquarters, Ikeja, ing newsmen, said: “I did a that extent. I saw that the release of Dr. Ilo and his son. covered that she wanted to keep
video about E-Money. I said video was already going vi- phone without her consent and
confessed to the crime and “We also call on the public the disease a secret, cashed in stole her bank statements and
claimed to have used the of- a lot of things that are not ral and I thought pulling it to provide any information that on her fears and started threat-
true in that video, that is why down would not make sense, sensitive information, whilst
fensive video to boost his on- may lead to the rescue of the ening to expose her to the pub- she was asleep at 10 am, on May
line followers. the police arrested me. I said so I decided to leave it. I have victims. Let us come together lic.
something regarding a video not reached out to E-Money 28, 2023, in Manchester, with
Stanley, in the said video, to support the Ilo family dur- “Her boyfriend, who did not the intention of blackmailing
had accused the businessman I saw online about a woman to apologise, because I don’t ing this difficult time and work stop at threatening her with
- saying that Sir E-Money is have his contact to do so. Alanis and using the stolen in-
of having illicit affairs with towards ensuring their safe re- the exposure of the herpes, also formation for other purposes.
the wife of the late Nollywood responsible for the things that “I was already planning to turn.” broke into her phone; got fur-
happened to Nollywood actor, make an apology video when (Continued on www.sunnewsonline)
star, John Odonwodo, aka Ju- ther information about her and
nior Pope. He also accused John Odonwodo, aka Junior I was arrested by the police.
the businessman of being re- Pope. I have been praying to have
sponsible for the death of the “I also said that Sir E-Mon- this opportunity to apologise
late Nollywood star, who died ey was also having affairs with to him. I am very sorry Sir
in a boat accident. Junior Pope’s wife. I have nev- E-Money, I didn’t mean to tar-
The Lagos State Police Pub- er in my life met E-Money. Ev- nish his image online. I only
lic Relations (PPRO), SP Ben- erything I made in that video wanted to generate traffic.”
jamin Hundyin, told news-
men that the suspect would
be prosecuted for cyber bul-
lying and defamation of char-
acter. He said the suspect was
arrested in Uromi, Delta State
following a petition from the
businessman.
Hundeyin said: “He is go-
ing to be prosecuted, because
the things he engaged in were
criminal in nature. He has al-
legedly defamed E-Money and
he is going to be prosecuted.
We are not prosecuting the
suspect because of the per-
sonality involved, but because
he has allegedly committed
crime, the personality went
through the normal channel
by reporting the case to the
Page 6 NATIONAL NEWS DAILYSUN Tuesday, May 28, 2024
How C/River Speaker through a lot because of the loans. That is our
worries too. I wish the governor we have today
came and met a sizable loan that he can repay;
it would have helped a great deal. You know he
`jkip`e^kfÔe`j_k_\8`igfik#k_Xk@ek\ieXk`feXc
Onuoha Ukeh
Managing Director/Editor-in-Chief
rate hike
THE Monetary Policy Committee of the treme. It will encourage banks to charge
Tony Manuaka - Associate Editor
Henry Umahi - Assistant Editor, Features & Investigation
Magnus Eze - Assistant Editor
Enyeribe Ejiogu - Assistant Editor
Central Bank of Nigeria (CBN) has raised _`^_\i k_Xe gi\mX`c`e^ `eÕXk`fe iXk\j Wilfred Eya - Politics Editor
its benchmark Monetary Policy Rate by when lending money to customers. In Uche Usim - Business Editor
150 basis points to 26.25 per cent from the face of rising energy cost, unstable Desmond Mgboh - Bureau Chief (North-West)
the previous 24.5 per cent. The CBN gov- forex rates and associated costs, it is
Emma Jemega - Group Sports Editor
ernor, Olayemi Cardoso, disclosed the key challenging to run a business. The hike
decisions taken at the 295th MPC meet- will discourage investments. Business
EDITORIAL BOARD
`e^# n_`Z_ nflc[ i\`e `e `eÕXk`fe Xe[ operators with credit exposures are yet
Robert Obioha - Chairman
XZ_`\m\gi`Z\jkXY`c`kp%K_\_\X[c`e\`eÕX- to recover from the previous hike of
tion for the month of April was 33.69 per 24.75 per cent. Currently, banks’ inter-
MARKETING & ADVERTISING
cent. This is the third time this year that est rate is about 30 per cent. Even the
Evelyn Onyibe - Ag. Business Manager
the MPC would hike the lending rate. CRR rate of 45 per cent and the liquid- Nnena Shuaib - Business Dev. Mgr. Nation’s Capital & the North
However, the apex bank retained the ity ratio of 30 per cent will worsen the Amaechi Ogbonna - Special Projects Editor
Cash Reserve Ratio (CRR), which is the j`klXk`fe%K_\i\`jli^\eke\\[]fiÔjZXc
percentage of deposits that commercial policy support to compensate for the ad-
OPERATIONS
banks must keep with the CBN, at 45 per verse effects of the hike in interest rate.
cent and adjusted the CRR of merchant K_\ _`b\ `e DGI n`cc j`^e`ÔZXekcp Damola Olajumoke - GM, Operations
banks to 14 per cent and the liquidity ra- hamper business operators’ ability to
FINANCE & ADMINISTRATION
tio retained at 30 per cent. The CBN be- repay their loans. The Organised Pri- Dennis Ogierhiakhi - Senior Accountant
c`\m\jk_Xkk_\e\niXk\n`ccYi`e^`eÕX- vate Sector has underscored this point. Jessica Oje-Humphrey - Human Resources Manager
tionary pressures under control. It also The members’ concern needs to be
underscores the bank’s optimism that the addressed. Last year, the Manufactur- INTERNAL AUDIT
ers Association of Nigeria (MAN) la- Johnson Ogwumike - Senior Manager, Internal Audit
various tools deployed to create a stable
foreign exchange market will yield the mented that its members borrowed LEGAL
needed results in the coming months. E(%/ki`cc`fe]ifdYXebj`ek_\Ôijk_Xc] Obinna Kalu - General Counsel/Company Secretary
=ff[`eÕXk`feZfek`el\jkfjfXiXe[k_\ of 2023 to remain in business. Accord-
naira still depreciating against major for- ing to CBN, the Non-performing loans VISION
eign currencies. (NPLs) in the banking sector stood at To be a dominant media content provider and
8ZZfi[`e^kfk_\cXk\jkÔ^li\j]ifdk_\ fm\iE(%,ki`cc`fe`e)')*ÔeXeZ\p\Xi% entertainment company in Nigeria and Africa through the
The NPLs ratio for last year was below pursuit of excellence in delivering innovative and quality
National Bureau of Statistics (NBS), food media and entertainment products.
`eÕXk`fe]fik_\dfek_f]8gi`cjkff[Xk the maximum prudential requirement
40.53 per cent. It was 40.1 per cent in f]Ôm\g\iZ\ekf]YXebjcXjkp\Xi%@ki\- MISSION
March. As of last week, the naira plum- gfik\[cp[\Zc`e\[]ifdÔm\g\iZ\ek`e ‘To practise journalism in the classical newspaper tradition of
presenting the news and features in an exciting style, with impact,
meted to N1,500/$1. At this time in 2023, June 2023 to 4.1 per cent in December objectivity and appeal that generate returns to all stakeholders: the
the naira exchanged for N450/$. Expect- 2023. society, the investors and the practitioners’
edly, the CBN’s latest decision to hike We believe that the CBN is using the OUR CORE VALUES
interest rate has elicited reactions, with nife^d\ki`ZkfÔ^_k`eÕXk`feXe[i\Z- The Sun passionately subsists on the core values of teamwork,
many policy experts, including Organised ommend that it should engage private respect, innovation, integrity and professionalism (T.R.I.P).
Private sector, expressing deep reserva- sector players in the formulation of T = We believe that we will serve our customers (readers) and
tions that the new lending rate will lead monetary policies. The CBN’s approach other stakeholders better when we work as a team.
kf i`j\ `e `eÕXk`fe# dXjj`m\ afY Zlkj `e `eÔ^_k`e^`eÕXk`feZXeefk\ejli\\Zf- R = We are committed to treating our employees and other
people with respect, dignity; in a fair and equitable manner.
the productive sector, especially the man- nomic growth. The CBN should also
I= We are committed to continuous innovation as the best
ufacturing and other sectors that rely on apply an import duty exchange rate that means to deliver value. We also believe in conducting our
bank loans for their funding needs and `jcfn\ik_Xek_\f]ÔZ`XciXk\]fiXjg\Z`- business with integrity and with the highest standard of ethics
generally worsen the economic situation. Ô\[k`d\$]iXd\kf\eXYc\j\Xdc\jjYlj`- and accountability.
ness planning. The government should P = We are committed to being a professional, flexible and
Cardoso admitted that there are several learning organization.
challenges confronting the effective mod- `dgc\d\ekkXi^\k\[ÔjZXcXe[dfe\kXip
\iXk`fe f] ]ff[ `eÕXk`fe# jlZ_ Xj i`j`e^ policies that can boost food production,
FOLLOW US ON...
costs of transportation of farm produce, lower the cost of doing business and
infrastructure-related constraints along overhaul transport infrastructure. @Thesunnigeria Sun Radio
the line distribution network, security Let the government consider non-
challenges in some food- producing areas ZXj_ `ek\im\ek`fe k_Xk n`cc i\ÕXk\ k_\ The Sun Nigeria The Sun TV
of the country, as well as exchange rate economy without necessarily increas-
volatility. No doubt, the monetary policy ing the currency in circulation. Trans- www.sunnewsonline.com
tools being used by the CBN are appar- parency in the forex market is key to @TheSunNigeria
ently not achieving the intended results. shoring up the value of the naira. There Sunonlineteam@gmail.com
The hike in interest rate will not augur is need to prioritise forex and credit al- The Sun Nigeria
well for businesses. From all indications, location to key sectors of the economy
08189015120
the interest rate hike is seemingly ex- and stabilise the naira.
Send your opinion/articles of not more than 1000 words with full
Page 12 OPINION names and location to suneditorialpageeditor@yahoo.com
DAILYSUN Tuesday May 28, 2024
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(Continued on www.sunnewsonline.com)
DAILYSUN Tuesday, May 28, 2024 Page 15
"Young men need to show women the respect they deserve and recognize
sexual assault and to do their part to stop it." – Barack Obama
Agric
@Thesunnigeria The Sun Nigeria @TheSunNigeria Linked The Sun Ngeria Sun Radio The Sun TV www.sunnewsonline.com Sunonlineteam@gmail.com
Tin
nub
bu @ 1: Agric sector on ventilators, Food basket
Items Current Last
OYINGBO/OTTO MARKET
Price Price
Stories by Chinyere Anyanwu sector. How do you juxtapose that issue Oloyin beans (50kg) N90,000 N75,000
neveralonewitu@gmail.com of declaring state of emergency on the Bucket of Oloyin N7,000 N6,000
food sector with allocation of 1.5 per Olo2 beans (100kg bag) N180,000 N150,000
PRESIDENT Bola Tinubu, in his inau- cent of the national budget to agricul- Bucket of Olo2 N6,200 N5,500
gural address on May 29, 2023, made ture? It does not add up. Rice (foreign - 50kg) N72,000 N80,000
glowing promises to Nigerians on how “There’s no magic that can happen to Local brands (50kg) N60,000 N70,000
his administration will use the agric make the sector viable. We have gallop- Yellow garri (50kg bag) N42,000 N40,000
sector as the springboard to prosperity, `e^]ff[`eÕXk`feXe[n\Xi\efk\m\e Bucket of yellow garri N3,500 N3,300
beginning with the attainment of food producing enough and to import is a big
White garri (50kg) N42,000 N40,000
security. issue because of forex. So practically,
the agriculture sector is comatose. It is Bucket of white garri N3,500 N3,300
He said the sector has the potential to Melon (egusi) (100kg bag) N250,000 N225,000
eradicate poverty, boost job creation. obvious to everybody.”
In fact, one of the administration’s For Mr. Kenneth Obiajulu, Founder/ Bucket of melon N6,200 N6,000
\`^_k$gf`ekX^\e[XnXjÔ^_k`e^_le^\i CEO, Agricorp, some of the administra- Vegetable oil (20ltrs) N55,000 N45,000
and poverty. tion’s policies have not been friendly to Vegetable oil (5ltrs) N13,000 N12,000
The administration noted that, “ag- the sector. Vegetable oil (1.5ltrs) N2,500 N2,200
riculture must now be market-oriented Obiajulu lamented that, “the agri- Red oil (20ltrs) N30,000 N35,000
and move away from the subsistence cultural sector has not been so great Red oil (5ltrs) N7,500 N7,000
farming culture currently being prac- •Abubakar Kyari in the last one year. There are a couple Red oil (1.5ltrs) N2,300 N1,900
ticed by smallholder farmers. Our the administration was compelled to of policies that have affected our busi- Tuber of yam N3,000 N2,500
resolve is to develop the agricultural declare a state of emergency on the food nesses. For example, the policy of re-
sector towards the attainment of the sector in July 2023. In a bid to drive its moving poultry from the list of banned MILE 12 MARKET
objectives of the Sustainable Develop- food security agenda, the administra- commodities has adversely affected Bag of onions N50,000 N90,000
ment Goals (SDGs), especially those of tion in August 2023, renamed the Min- our poultry business. All of a sudden, Basket of onions N25,000 N45,000
zero hunger, and to improve agriculture istry of Agriculture and Rural Develop- the policy that allows people to import Basket of tomatoes (medium) N40,000 N38,000
and rural productivity. Nigeria’s cur- ment as the Ministry of Agriculture poultry products was introduced after Bag of pepper (rodo) N120,000 N70,000
i\ek gcXe `j kf XZ_`\m\ j\c]$jl]ÔZ`\eZp and Food Security, and appointed a new most poultry farmers have invested a Tuber of yam (Benue yam) N3,500 N3,000
in food production and reduce depen- Minister, Abubakar Kyari. reasonable amount of money in our
dency on food imports.” Assessing the administration’s per- poultry businesses.” DALEKO MARKET
The administration assured Nigeri- formance in the sector in the last one According to him, “the prices of Oloyin beans (50kg) N90,000 N75,000
ans that it would reposition the agricul- year, stakeholders have said that based maize and soybeans have gone up and Bucket of Oloyin N7,000 N6,500
tural sector for optimal growth as well on realities on ground, the administra- a lot of poultry farms have shut down Olo2 beans (100kg bag) N180,000 N150,000
as make farming implements and other tion leaves a lot to be desired. They are because they cannot compete with the Bucket of Olo2 N6,300 N5,500
inputs available at government-con- of the opinion that there is no correla- imported substandard products. So it’s
been very tough and everyone is feeling White beans (110kg) N100,000 N85,000
trolled prices across the 774 local gov- tion between the assurances and what Bucket of white beans N5,500 N5,000
ernment areas of the country. It also de- is obtainable in the sector. the pinch.”
clared that the Ministry of Agriculture On the state of emergency declared Rice (foreign - 50kg) N72,000 N90,000
The Vice Chairman of Tilapia Aqua- Local brands (50kg) N60,000 N70,000
and the Ministry of Water Resources culture Development Association on the food sector, Obiajulu said, “a
will form a partnership that will ensure state of emergency has been declared Vegetable oil (20ltrs) N55,000 N40,000
in Nigeria (TADAN), Mr. Nurudeen
adequate irrigation of farmlands, which but what are the follow up conversa- Vegetable oil (5ltrs) N13,000 N12,000
Tiamiyu, who spoke on the administra-
will guarantee all-year round food pro- tion’s footprints in agriculture and food tions, actions and steps that have been Vegetable oil (1.5ltrs) N2,500 N2,200
duction. security, said it has not done well. kXb\e6 N\ _Xm\eËk j`^e`ÔZXekcp j\\e Red oil (20ltrs) N30,000 N28,000
Tinubu’s government, in addition, Tiamiyu’s verdict is based on the fol- any of those actions materialise. Red oil (5ltrs) N7,500 N6,500
promised to “engage our security archi- lowing: “Going by the prices of food “Players in the sector are shutting Red oil (1.5ltrs) N2,200 N1,900
tecture to protect the farms and farm- in the last one year, we have not done down their businesses across the value Yellow garri (50kg) N45,500 N40,500
ers so that farmers can return to the well in the agriculture sector. People chains. Insecurity is still a major con- Bucket of yellow garri N3,300 N2,800
farmlands without fear of attacks. We can always blame insecurity for it but cern to farmers and productivity and White garri (100kg) N80,000 N65,000
will increase revenue from food and insecurity is just a minute aspect of the output are low. Just last year there was Bucket of white garri N3,500 N3,000
agricultural exports. As we ensure there whole issue. We don’t have insecurity a complete wipe out of ginger produc-
`j jl]ÔZ`\ek# X]]fi[XYc\ ]ff[ ]fi k_\ all over the country. What about the tion in Kaduna and that’s just one value
populace, we will concurrently work on areas where insecurity is not a major chain. Every other value chain is suffer- 620 Nasarawa farmers benefit
stimulating the export capacity of the ing one way the other.”
agric sector.”
issue? How have farmers fared in those
regions?” Another stakeholder, Amaka Chuk- from $250,000 ACReSAL loan
Despite these laudable assurances, He noted that, “up till now, we wudum, Founder/CEO of Amicable FARMERS numbering 620 from 10 communities in Nasara-
players in the agriculture space are yet have not held any stakeholders meet- Mondiale Farms, is pained by the dif- nXJkXk\_Xm\Y\e\Ôkk\[]ifdk_\),'#'''Nfic[9Xeb]X-
to see the promises morph into con- ing under the Minister of Agriculture ÔZlckp]XZ\[YpjdXcc_fc[\i]Xid\ij`e cilitated Agro-Climatic Resilience in Semi-Arid Landscapes
crete action. and Food Security. Last week we had a accessing funds and other inputs for (ACReSAL) revolving loan.
On the contrary, there has been in- stakeholders meeting with the Minister production. Jg\Xb`e^[li`e^k_\[`jYlij\d\ek\o\iZ`j\ÕX^^\[f]]Xk
creased hardship and hopelessness. of Marine and Blue Economy. You can Narrating her personal experience in the weekend in Doma Local Government Area of the state,
The removal of fuel subsidy, as an- imagine a ministry that has been cre- the bid to get a loan from the Bank of In- the Governor, Abdullahi Sule, said the loan was in line with
nounced by President Tinubu, in his in- ated for almost a year now just having dustry (BoI), Chukwudum said, “I heard the vision of the federal and state governments to support
augural address, destabilised the econ- a stakeholders meeting at the tail end of they were giving women agricultural farmers to mitigate the impact of climate change and boost
omy by worsening the already troubled `kjÔijkp\Xi%N_Xk_Xm\k_\pY\\e[f`e^ loan through Bank of Industry (BoI) food production.
kiXejgfikXk`fej\Zkfi%Jf[`[eX`iXÕfXk for past one year? and I have made efforts to access it but The governor stated that as part of efforts to boost food
and other scathing economic reforms. “Same with the Ministry of Agricul- the bottlenecks seem unsurmountable. production, the state government recently distributed 23
These sent naira tumbling, resulting in ture and Food Security. As a new minis- A simple farmer cannot attain their re- tractors and farm inputs to 10,000 farmers in the state.
_pg\i$`eÕXk`fe% Fe k_\ Õ`g j`[\# ]ff[ ter under a new coined name, the onus quirements. The only people that can He explained that the ACReSAL revolving interest-free
prices spiked, making hunger the rule is on him to sit with his permanent sec- meet their requirements are those who fund under its Community Climate Resilience (CCR) com-
rather than the exception. According to retary and directors to know the direc- don’t need the loan. ponent would help to boost agricultural output and improve
the National Bureau of Statistics (NBS) tion of the government policies based “I went to BoI to ask for a loan of N10 k_\c`m\c`_ff[f]k_\Y\e\ÔZ`Xi`\j%
i\Zfi[j# ]ff[ `eÕXk`fe `eZi\Xj\[ kf on the new name of the ministry. He million and they were asking me to get Jlc\# n_f jX`[ k_\ (' Y\e\Ôk`e^ Zfddle`k`\j Xi\ ]ifd
31.52 per cent in October 2023 from the should arrange with directors for a one- someone who can stand as a guarantor Doma and Toto Local Government Areas, noted that climate
21.9 per cent it was in October 2022. By on-one meeting with the stakeholders who has a net worth of property not less change had brought numerous challenges to the environ-
DXiZ_ )')+# ]ff[ `eÕXk`fe _X[ _`k Xe in their respective value chains to know than N14 million. In this economy, who ment as well as the livelihood of farmers, adding that the
all time high of 40.1 per cent. what their issues are. Through that, is willing to stand for you with their as- intervention would go a long way to ameliorate their plight.
The implication of the above statis- they can fashion out a way forward. set? I told them I have 10 acres of land; He assured that his administration would continue to col-
tics on the consumer is that his budget The issues are there and the solutions can’t it be a collateral for me? An acre of laborate with partners to provide resources and support that
for food has tripled. For instance, A loaf are also there. The solutions have to be land in the area where the land is locat- would cushion the effect of climate change and tackle pov-
of bread that sold for N400 before the given by the practitioners as to what the ed is worth N2 million now so 10 acres erty in the state.
administration took over rose to N600 numbers are, what to put in place in are worth N20 million. They insisted it “To this end, Nasarawa State is partnering with the Fed-
and has continued to rise until it is sell- k\idjf]gfc`ZpXe[ÔeXeZ\kfXZ_`\m\ must have C of O. How many farmers eral Government, World Bank through ACReSAL project to
ing for N2,000 currently. A 50kg bag of food security.” in Nigeria have C of Os on lands they
are farming on? I have my Deed of As- help the vulnerable communities to adapt to the impact of
locally produced rice which was selling The tilapia farmer who expressed climate change.
for between N20,000 and N22,000 is worry over the insincerity of govern- signment and other papers; it’s already
fenced round, and my farm project is “We expect this support to lead to food security, improve
presently selling for N75,000. A basket ment in funding the sector said, “when income of the communities and create employment oppor-
of tomatoes that sold for N18,000 is you have a country that is giving less going on there so why can’t I use it get
loan? They said no. tunities especially among the vulnerable groups including
now selling for N75,000 while a paint than 1.5 per cent of its budgetary allo- persons with special needs, women and youths.
bucket of garri that sold for N500 is now cation to agriculture, I don’t know what “So the way they kept the simple
things a farmer can get shows it’s obvi- “The project will also enhance farmers and communities’
selling for between N3,800 and N4,000. they are expecting in that country. The capacity of climate smart agriculture through technology
The rising cost of food has drastically Maputo Declaration says 10 per cent of ously not the farmer they have in mind.
reduced the purchasing power of con- It’s the high networth individuals they and innovation, increase community farmers understanding
a country’s budgetary allocation should of sustainable agricultural practices and help address local
sumers and subjected many households be given to agriculture but Nigeria is have in mind. With the way they set
to untold hunger and malnutrition. their policies, the real people the loans ZfeÕ`ZkjXe[]fjk\ig\XZ\#ÉJlc\jX`[%
giving 1.5 per cent in a time they are de-
Faced with such food crisis situation, claring state of emergency on the food are meant for cannot access them. Continued on www.sunnewsonline.com
Page 24 DAILYSUN Tuesday, May 28, 2024
Banking&Finance
@Thesunnigeria The Sun Nigeria @TheSunNigeria Linked The Sun Ngeria Sun Radio The Sun TV www.sunnewsonline.com Sunonlineteam@gmail.com
L-R: Group Chief Executive, Mr. Ladi Balogun; Chairman, Mr. Oladipupo Jadesimi; Company Secretary/General Counsel, Mrs. Funmi Adedibu; Non-
Exectuive Director, Professor Oluwatoyin Ashiru; Executive Director, Coverage & Investment Banking, Mr. Olufemi Badeji and Executive Director/Chief
Operating Officer, Mr. Gbolahan Joshua, all of FCMB Group during the 11th Annual General Meeting (AGM) of the Group held in Lagos, recently.
By Chinwendu Obienyi
@Thesunnigeria The Sun Nigeria @TheSunNigeria Linked The Sun Ngeria Sun Radio The Sun TV www.sunnewsonline.com Sunonlineteam@gmail.com
allegations of over-voting
Guber polls: Diri, Ododo win at tribunals Xe[efe$Zfdgc`XeZ\n`k_
the Electoral Act, 2022 in
k_\g\k`k`fe%
The panel, in a unani-
From Godwin Tsa
Abuja and Femi
•Bayelsa gov hails verdict, Sylva goes to A’Court dflj[\Z`j`fe#_\c[k_XkXcc
k_\n`ke\jj\m`[\eZ\Ôc\[
Folaranmi, Yenagoa tribunal, held that the 21 days after the result of g\k`k`fe\ij%É High Court, adding that the Y\]fi\`kn\i\`eZfdg\k\ek
petitioners failed to adduce Xe\c\Zk`fenXj[\ZcXi\[% More so, the tribunal dXkk\i_X[Y\Zfd\jkXklk\$ Xe[]lccf]`eZfej`jk\eZ`\j%
THE Bayelsa State Gover- any credible evidence to It held that such a petition [`jd`jj\[k_\Xcc\^Xk`fe barred since the petitioners It also agreed with the
norship Election Petition substantiate any of the al- dljk#Xkk_\k`d\`knXj that the Deputy Governor, failed to challenge the genu- jlYd`jj`fejf]k_\i\jgfe-
Tribunal sitting in Abuja, legations they raised against Ôc\[#Y\XZZfdgXe`\[n`k_ Lawrence Ewhrudjakpo, `e\e\jjf]k_\Z\ik`ÔZXk\j(+ dents that the allegations
p\jk\i[Xp#X]Ôid\[k_\ k_\flkZfd\f]k_\gfcc% ni`kk\ejkXk\d\ekjf]Xcck_\ tendered forged university [XpjX]k\i`knXjjlYd`kk\[ of forgery raised in the
re-election of Governor @kjkilZbflkXj`eZfd- `ek\e[\[n`ke\jj\j% [\^i\\Xe[EPJ:\o\dgk`fe kf@E<:% petitions were a pre-election
Douye Diri of Bayelsa State petent, all the additional The tribunal held that Z\ik`ÔZXk\jkfk_\@e[\g\e- Besides, it held that the dXkk\i#n_`Z_fl^_kkf_Xm\
X]k\i[`jd`jj`e^k_\g\k`k`fe proof of evidence as well as the decision of Sylva and his dent National Electoral issue of Ewhrudjakpo’s Y\\eiX`j\[(+[XpjX]k\ik_\
Ôc\[Ypk_\8ccGif^i\jj`m\j jkXk\d\ekjfefXk_f]jfd\ gXikpkfÔc\k_\`iX[[`k`feXc :fdd`jj`fe@E<: `eX`[ \[lZXk`feXchlXc`ÔZXk`fe [fZld\ekjn\i\jlYd`kk\[
Congress (APC) and its can- f]k_\n`ke\jj\jk_Xkk\jk`Ô\[ proof of evidence and state- f]_`jhlXc`ÔZXk`fekfZfek\jk nXjgi\m`fljcp[\k\id`e\[ kfk_\@E<:%
[`[Xk\#:_`\]K`d`gi\JpcmX# ]fik_\g\k`k`fe\ij% d\ekfefXk_f]n`ke\jj\j k_\\c\Zk`fe% YpXZflikf]Zfdg\k\ek Meanwhile, Governor
]ficXZb`e^`ed\i`k% According to the tribunal, cfe^X]k\ik_\p_X[Ôc\[k_\ It held that the allegation ali`j[`Zk`fe% Diri has said his victory
@eXleXe`dfljal[^- the law expressly provided g\k`k`fenXjÈkXekXdflek nXjXgi\$\c\Zk`fedXkk\i The tribunal said it took nflc[jgli_`dkfj\im\k_\
d\ek#k_\Aljk`Z\8[\blec\ that an election petition kfXjlii\gk`k`fljXkk\dgk that ought to have been judicial notice of the fact state better in his second
8[\c\p\$c\[k_i\\$d\dY\i dljkY\Ôc\[efkcXk\ik_Xe kfXd\e[k_\ZXj\f]k_\ litigated before the Federal that the third respondent, k\id%
Ewhrudjakpo, is a legal 8jkXk\d\ekYp_`j
practitioner, saying it was :_`\]Gi\jjJ\Zi\kXip#Di%
jXk`jÔ\[k_Xk_\nXj\d`- Daniel Alabrah, described
e\ekcphlXc`Ô\[kfZfek\jk the petition as a “needless
k_\\c\Zk`fe% [`jkiXZk`fe#É`ej`jk`e^k_XkYp
Likewise, the tribunal k_\al[^d\ek#k_\al[`Z`Xip
noted that whereas Sylva and had again proven that it
his party prayed it to declare i\dX`e\[k_\cXjk_fg\f]
that they were the valid k_\ZfddfedXe%
winners of the governorship ÈFeZ\X^X`e#@lj\k_`j
election, they equally applied fggfikle`kpkfk_Xebdp
]fik_\jXd\\c\Zk`fekfY\ people of Bayelsa State, who
[\ZcXi\[`emXc`[% graciously and freely gave
It held that prayers of the d\k_`jdXe[Xk\%@k`jefk
petitioners were contradic- dpm`ZkfipYlkk_Xkf]k_\
tory, adding that Sylva and g\fgc\f]9Xp\cjX%
the APC did not tender any “As I always pledge, our
\c\ZkfiXcdXk\i`Xckfj_fn X[d`e`jkiXk`fe`jg\fgc\$]f-
that any irregularity occurred Zlj\[Xe[g\fgc\$fi`\ek\[%
[li`e^k_\\c\Zk`fe% So, this will again give us a
It held that the petitioners better latitude to continue
were unable to discharge to deliver the dividends of
the burden of proof that was [\dfZiXZpkfflig\fgc\%É
gcXZ\[fek_\dYpk_\cXn# Sylva, however, expressed
L-R: Chairman, Conference of Speakers, Adebo Ogundoyin, Senate President, Godswill Akpabio; stressing that they failed to dissatisfaction with the
Deputy Speaker of House of Representatives, Benjamin Kalu, and others during a retreat on constitu- show polling units by polling ki`YleXcal[^d\ek%
tional review, organised by House of Representatives at Akwa Ibom State. units, the particulars of the K_\]fid\id`e`jk\in_f
efeZfdgc`XeZ\k_\pXcc\^\[ _\c[Xd\\k`e^n`k_\c[\ij
and how it substantially
Defected elected officials should lose seats –IPAC X]]\Zk\[k_\flkZfd\f]k_\
\c\Zk`fe%
and stakeholders of the party
X]k\ik_\al[^d\ekkf[`jZljj
From Okwe Obi, dXe#Pljl];XekXcc\#jkXk\[ robbery, unfair, unjust and ship election, Dantalle, who J`d`cXicp#k_\Bf^`JkXk\
the next course of action,
Abuja k_`jXkk_\ÔijkJflk_Jflk_ `dg\[\jk_\eXk`feËj[\dfZ- `jXcjfk_\Z_X`idXef]k_\ [`i\Zk\[_`jc\^Xck\Xdkf
8cc`\[G\fgc\ËjDfm\d\ek Governorship Election Peti- `dd\[`Xk\cpj\\baljk`Z\Xk
IPAC Leadership Conference iXZp% tion Tribunal sitting in Abuja
THE Inter-Party Advisory organised by the Rivers State “In a constitutional 8GD #`dgcfi\[k_\\c\Z- k_\:flikf]8gg\Xc%
XcjfX]Ôid\[k_\m`Zkfipf]
Council (IPAC) has insisted chapter, and entitled: ‘Good [\dfZiXZpc`b\flij#k_\ torate to reject vote trading >fm\iefiLjdXeF[f[ff]
Sylva said: “We are not
k_Xk\c\Zk\[f]ÔZ`Xcj#n_f Governance and Security strength and vibrancy of Xe[YXccfkYfojeXkZ_`e^% jXk`jÔ\[n`k_k_\[\Z`j`fef]
When citizens fail to the All Progressives Congress k_\ki`YleXc%9lkk_`j`jaljk
dfm\]ifdk_\gfc`k`ZXcgXi- as Panacea for Grassroots political parties are crucial 8G: %
ties that they won elections ;\m\cfgd\ekË#p\jk\i[Xp`e pillars upon which the edi- participate actively in XZflikf]Ôijk`ejkXeZ\Xe[
\c\ZkfiXcdXkk\ijXe[_fc[ K_\k_i\\$d\dY\i X]k\id\\k`e^n`k_k_\\c[\ij
to another party should auto- Gfik?XiZflik% ÔZ\f]^fm\ieXeZ\jkXe[j% gXe\c_\X[\[YpAljk`Z\
dXk`ZXccpcfj\k_\`ij\Xkj% “IPAC canvasses a stop to È@k`j`dg\iXk`m\k_Xk glYc`Zf]ÔZ\ijXZZflekXYc\# 8[f9`ie`e$Bl[l_\c[k_Xk
and critical stakeholders of
It described cross-carpet- cross-carpeting by elected we continuously strive to the consequence would be our great party, the APC, we
the petition was bereft of [`i\Zk\[flic\^Xck\Xdkf
ing as a ‘political robbery, d\dY\ijf]k_\c\^`jcXkli\j enhance the capacity and poor leadership and bad substance and accordingly,
that is unfair and unjust, n`k_flkZf^\eki\Xjfej% inclusivity of political parties ^fm\ieXeZ\% [`jd`jj\[`k%
seek justice for Bayelsa at the
Xe[`dg\[\jk_\eXk`feËj “It should be abrogated \ejli`e^k_\pi\dX`ekil\ Also, he called on the Jlgi\d\:flik%É
Independent National Elec- The tribunal held that the The governorship can-
[\dfZiXZp#Ë`ej`jk`e^k_Xk`k outright, and those who representatives of the diverse g\k`k`fe\ij#k_\JfZ`Xc;\df-
should not be condoned in defected after winning voices and aspirations of our kfiXc:fdd`jj`fe@E<: kf cratic Party (SDP) and the
didate assured the people
XeXjZ\ek[\dfZiXZpc`b\ \c\Zk`fejfek_\gcXk]fidjf] gfglcXZ\%É Zfe[lZkXg\XZ\]lc\o\iZ`j\% G\fgc\jI\[\dgk`feGXikp
of Bayelsa that the appella
E`^\i`X% other political parties should Meanwhile, ahead of the “When citizens fail to court would surely correct
(PRP), and their candidates,
IPAC’s National Chair- cfj\k_\`ij\Xkj%@k`jgfc`k`ZXc <[fXe[Fe[f^fm\iefi- participate actively in their Murtala Ajaka and Abdul-
the travesty perpetrated by
^fm\ied\ekXe[_fc[glYc`Z k_\ki`YleXc%
f]ÔZ\ijXZZflekXYc\#k_\ lahi Bayawo failed to prove
Edo: Court dismisses Shuaibu’s suit against Ighodalo’s emergence
From Godwin Tsa, XkkXZbk_\jXd\% he did not participate in the
consequence is poor leader-
j_`gXe[YX[^fm\ieXeZ\%
FG postpones inauguration of governing
Abuja. Aljk`Z\FdfkfjfjX`[k_Xk
k_\i\nXjfm\in_\cd`e^
polls as required before he
ZXehlXc`]pkfcf[^\XepZfd-
“Citizens’ participation in councils for tertiary institutions
^fm\ied\ek`j]le[Xd\ekXc
THE Abuja division of the evidence that Shuaibu was plaints or have legal rights to to the delivery of dividends From Fred Ezeh, unnecessary interference/
Federal High Court has not physically present at the sue anybody in respect of the f][\dfZiXZpXjfYkX`eXYc\ Abuja clashes in the day-to-day
[`jd`jj\[Xjl`kÔc\[Ypk_\ JXdl\cF^Y\dl[`XJkX[`ld \c\Zk`fe% `e[\m\cfg\[[\dfZiXZ`\j% activities of their respective
`dg\XZ_\[;\glkp>fm- in Benin City, where the The Edo governorship “That is why their govern- FEDERAL Ministry of `ejk`klk`fej%
ernor of Edo State, Philip gi`dXip\c\Zk`fenXjZfe- election is expected to be d\ekjnfib]fik_\dfi Education has announced Director, Press and Public
Shuaibu, against the conduct [lZk\[fe=\YilXip))% _\c[feJ\gk\dY\i)+% are voted out in subsequent k_\gfjkgfe\d\ekf]k_\ Relations, Federal Ministry
f]k_\gi`dXip\c\Zk`fef]k_\ The court said it was clear Shuaibu had in his suit elections, and leaders who inauguration of pro-chancel- of Education, Folasade Bori-
G\fgc\Ëj;\dfZiXk`ZGXikp and unchallenged that the prayed the court to issue breached the laws are cfij#Z_X`id\eXe[d\dY\ij fnf#XjkXk\d\ek#p\jk\i[Xp#
(PDP) that produced Asuen `dg\XZ_\[[\glkp^fm\iefi an order stopping the Inde- investigated, prosecuted and of the governing councils of apologised on behalf of the
@^_f[XcfXjZXe[`[Xk\% participated in a parallel pendent National Electoral jailed if found guilty to serve ]\[\iXck\ik`Xip`ejk`klk`fej% d`e`jkip]fik_\`eZfem\-
8dfe^fk_\ii\Xjfej# gi`dXip\c\Zk`feZfe[lZk\[ :fdd`jj`fe@E<: ]ifd XjX[\k\ii\ekkffk_\ij% The inauguration was niences that the postpone-
Aljk`Z\AXd\jFdfkfjf# `e_`jfnei\j`[\eZ\% accepting or recognising “Good governance, earlier scheduled to take d\ekd`^_k_Xm\ZXlj\[k_\
`e_`jal[^d\ekp\jk\i[Xp# 9\j`[\j#Aljk`Z\Fdfkfjf Ighodalo as governorship therefore, starts with elect- place on Thursday, May 30, g\fgc\`emfcm\[%
held that the plaintiff has no held that Shuaibu failed ZXe[`[Xk\f]G;G% `e^Zfdg\k\ek#i\jfliZ\]lc# Xe[=i`[Xp#DXp*(#)')+#Xj She explained that the
locus standi (legal rights) to to explore the internal He also requested the m`j`feXipXe[giX^dXk`Z was announced when the decision was as a result of
institute the case and his d\Z_Xe`jdf]k_\G;GXj court for another order to leaders in free, fair, credible, c`jkf]k_\d\dY\ijf]k_\ Xi\Z\ek[`i\Zk`m\]ifdk_\
]X`cli\kfd\\kZfe[`k`fej stipulated by law to ventilate Zfdg\cG;GkfZfe[lZkX transparent, inclusive and ZfleZ`cnXjdX[\glYc`ZX gi\j`[\eZp[\dXe[`e^]fi
gi\Z\[\ekY\]fi\Ôc`e^k_\ his anger before rushing to ]i\j_gi`dXip\c\Zk`fe% g\XZ\]lc\c\Zk`fej% ]\n[XpjX^f% XZfdgi\_\ej`m\i\m`\n
ZXj\% Zflik% ?`j^iflj\nXjdX`ecp “Election is the beauty of It was also announced f]k_\d\dY\ij_`gf]k_\
In addition, the judge He also held that the that the provisions of the [\dfZiXZp%@k`jk_\i\Xjfe that inauguration would governing councils of federal
_\c[k_Xkk_\]fid\i ]fid\i[\glkp^fm\iefi_Xj Electoral Act 2022, and @G8:\dg_Xj`j\jk_\e\\[ be followed by a retreat for tertiary institutions in Ni-
deputy governor, having not no basis to call for cancella- the PDP’s guidelines were for transparent polls and k_\d\dY\ijkfXZhlX`ek ^\i`Xkfi\Õ\Zkk_\eXk`feXc
gXik`Z`gXk\[`ek_\gi`dXip k`fef]k_\gi`dXip\c\Zk`fe violated in the conduct of dfY`c`j\j\c`^`Yc\mfk\ijkf k_\dn`k_n_XkËj\og\Zk\[ Z_XiXZk\i%K_\e\n[Xk\
election, has no legal right Xe[elcc`ÔZXk`fef]k_\ k_\gi`dXip\c\Zk`fe_\c[fe register and exercise their f]k_\d#`eX[[`k`fekfk_\`i n`ccY\Zfddle`ZXk\[kfXcc
under the law to challenge or candidacy of Ighodalo, since =\YilXip))% ]iXeZ_`j\`eXcc\c\Zk`fej% responsibilities, to avoid gXik`\j%
DAILYSUN Tuesday, May 28, 2024 NATIONAL NEWS Page 27
SPORTS
Dominican Republic 2024:
Liberia to host Flamingos in
final round, first leg on June 9
LIBERIA’S U17 girls JLUOVRQDJJUHJDWH
will host World Cup bronze The Liberian girls were
medallists, Flamingos of Ni- the big surprise of the third
geria at the Samuel Kanyon round, edging out Senegal
Doe Stadium, Monrovia on on the away goal rule after a
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leg of the teams’ FIFA U17 second leg of a tie that the
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Bankole Olowookere’s The winner on aggregate will
maidens have made their emerge as one of Africa’s
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lation of their counterparts PLQLFDQ5HSXEOLF
from Central African Re- Burundi vs Kenya and
public, after which they dis- Zambia vs Morocco are the
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DAILYSUN Tuesday, May 28, 2024 Page 31
THUMBPRINT
WITH ANDY EZEANI
Grudge
of the
unenterprising Osimhen bids Napoli farewell,
tribe P. 13 wants Arsenal move P. 29
TUESDAY, MAY 28, 2024 *VOL. 20 NO. 5504
IFEANYI ONUBA
Public Forum
KYARI, TINUBU’S ‘RENEWED HOPE AGENDA’ AND ENERGY SECURITY
BY tomorrow, it will be exactly one year It is a 1,350MW combined-cycle power ity to the city of Maiduguri and its environs
that President Bola Tinubu took over the plant with auxiliaries and balance of plant n`ccXcjfY\Xj`^e`ÔZXekX[[`k`fekfk_\
mantle of leadership as Nigeria’s President. to be situated on 547 hectares of land many initiatives aimed at ensuring domes-
During the swearing in of Tinubu as Ni- already acquired at Gwagwalada, in the tic gas utilisation.
geria’s 16th President about a year ago, his Federal Capital Territory (FCT), Abuja. Under Kyari’s leadership, the NNPCL has
agenda for the economy was loud and clear The project is expected to generate be- invested heavily in domestic gas footprint
to target a higher gross domestic product tween $700m and $800m annually within expansion projects through the delivery
^ifnk_iXk\Xe[kfj`^e`ÔZXekcpi\[lZ\ k_\Ôijk('p\Xijf]fg\iXk`fe% of the trans-Nigeria gas pipeline project,
unemployment The GIPP was necessitated by the need which includes the Escravos project, the
To achieve these, one of the things the for delivering gas towards additional power Lagos pipelines system, and the Ajaokuta-
President listed in his inaugural speech that generation capacity in Nigeria. Under the Kano gas pipelines.
he would do was to pursue an industrial plan, gas supply to the plant will be through As a national oil company, the NNPCL
policy that would utilize the full range of the Ajaokuta-Kaduna-Kano (AKK) Gas is cooperating with its partners to solve the
ÔjZXcd\Xjli\jkfgifdfk\[fd\jk`ZdXel- Pipeline Project, which is currently at its energy challenges facing the country.
facturing, stimulate investments and lessen advanced stages of construction. The footprints of Kyari in the oil and
import dependency. The GIPP’s fuel requirements will be sat- gas sector were also felt when he led the
The energy sector was at the heart of his `jÔ\[le[\iXcfe^$k\id^XjjXc\j#gliZ_Xj\# NNPCL to secure a $7bn investment from
agenda when the President took over the and aggregation agreement with Shell India for Nigeria’s petrochemical industry.
f]ÔZ\Xp\XiX^f% Petroleum Development Company Joint Kyari had accompanied President Tinubu
According to Tinubu, “Power generation Venture (SPDC JV). to India, where the deal was announced
should nearly double and transmission and Mele Kyari The GIPP project consists of three power Tinubu had departed Abuja, Nigeria’s
distribution networks improved. We will to construct the Gwagwalada Independent train blocks of 450MW each. Each block capital, for the G20 summit, which was
encourage states to develop local sources Power Plant project. will include two General Electric (GE) gas held from September 9 to 10 last year in
as well.” K_\gifa\Zk#n_`Z_nXjÕX^^\[f]]`e turbine generators, two heat recovery steam New Delhi, the Indian capital.
Nigeria is endowed with large oil, gas, August by President Bola Tinubu, has been generators (HRSG), one steam turbine The President’s visit to India was focused
hydro and solar resources, and it has the described as a game-changer in Nigeria’s electric generator, one direct air-cooling on attracting investments to Nigeria with
potential to generate 12,522MW of electric power sector. condenser, balance of plant equipment and lucrative opportunities for investors, but
power from existing plants. On most days, a black start diesel generator. most importantly jobs for Nigerians and
however, it is only able to dispatch around On completion, the GIPP will generate new revenue opportunities for the country.
+#'''DN#n_`Z_`j`ejl]ÔZ`\ek]fiXZfle- an average of 10.3 million megawatt hour India is one of the growing markets for
try of over 200 million people. (MWh) of electricity per year for sale to E`^\i`XËjc`hl`Ô\[eXkliXc^Xj#Xe[k_ifl^_
Under Mele Kyari’s transformative the Nigerian Bulk Electricity Trading Plc this deal the government will be able to cre-
leadership as the Group Chief Executive of (NBET). ate job opportunities for Nigerians.
the Nigerian National Petroleum Company The sale of the generated power will be @e[`XeYlj`e\jj\jj\im\Xjj`^e`ÔZXek
Limited, the company conceived the idea through the Power Purchase Agreement investment sources in the midstream,
of monetising Nigeria’s huge gas resources
through independent power projects.
The project was (PPA) with the NBET to distribution com-
panies (Discos) under long-term agree-
downstream and upstream sectors of the oil
and gas industry.
For a man who has transformed the necessitated by the ments. and direct sale to major off-takers. In the area of gas infrastructure, Kyari is
NNPCL within the last four years despite Before the GIPP, the NNPCL had inau- also leading the NNPCL to implement the
the mounting opposition to some of his extended power outages gurated the 50MW Maiduguri Emergency AKK Gas Pipeline contract.
reform initiatives, it is gratifying to know
that the President believes in his capac-
experienced in the region Power Plant (MEPP), which is a power
generation project aimed at providing reli-
The AKK Gas Pipeline is an integral part
of the Trans-Nigeria Gas Pipeline (TNGP)
ity to implement energy policies that will in the last nine years. These able and sustainable electricity to the city of with a capacity to transport about 2.2 bil-
enable the federal government to monetize Maiduguri, the capital of Borno State, and lion cubic feet of gas per day.
all available oil and gas resources of today outages, caused by its environs. NNPCL had announced that the project’s
while paving the way for the total exploita- vandalism and insurgent The project was necessitated by the completion date is now December 2024.
tion of new and cleaner energy sources of extended power outages experienced in the The project, when completed, is expected
tomorrow. attacks on power supply region in the last nine years. These out- to ease natural gas transportation from
To demonstrate this commitment to infrastructure, had resulted ages, caused by vandalism and insurgent Ajaokuta in Kogi State to Kano through
transforming Nigeria’s power sector, the attacks on power supply infrastructure, had several states.
NNPCL, headed by Kyari, entered into a in a decline in economic resulted in a decline in economic activities
(Continued on www.sunnewsonline.com)
turnkey engineering, procurement and xon- in the region.
struction (EPC) contract with China Ma- activities in the region.” The power generation project, aside from •Onuba, a chartered
chinery Engineering Corporation (CMEC) providing reliable and sustainable electric- accountant, writes from Abuja
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