The Nation Newspaper

Author: The Nation

  • FIFA U20 World Cup: Flying Eagles edge Dominican Rep. in opener

    FIFA U20 World Cup: Flying Eagles edge Dominican Rep. in opener

    The Flying Eagles yesterday got off on a winning start at this year’s U20 World Cup in Argentina after they edged past debutants Dominican Republic 2-1.

    Nigeria have thus recorded precious three points from a tight first round group that also has Italy and Brazil.

    Flying Eagles dominated proceedings and deserved their opening day victory as there was a cameo appearance for late comer and AC Milan starlet Victor Eletu.

    Dominican Republic took the lead against the run of play in the 23rd minute through a penalty converted by skipper Edison Azcona after VAR showed Benjamin Frederick had fouled inside his own box.

    However, Nigeria restored parity on the hour when Dominican Republic defender Guillermo De Pena netted an own goal off a long throw-in by the Flying Eagles.

    The Flying Eagles took a deserved lead on 70 minutes, when midfielder Samson Lawal capitalised on a defensive blunder inside the box.

    The most outstanding player on the pitch, Jude Sunday, was unlucky not to get on the scoreboard on the night.

    First, he was denied by a brilliant save by the Dominican Republic goalkeeper in the 37th minute, when it looked all certain his curler will shake the back of the net.

    Then his effort in the 68th minute was chalked off for offside, which was also confirmed by VAR.

    The exciting winger then blazed into the stands a great chance created by Tochukwu Nnadi in additional time.

    On Wednesday, the Flying Eagles take on Italy in their next Group D match in Mendoza with Kick-off time fixed for 7pm Nigerian time.

  • NPFL :Remo Stars, Enyimba, Sunshine Stars secure  Super Six

    NPFL :Remo Stars, Enyimba, Sunshine Stars secure  Super Six

    The trio of Enyimba, Remo Stars and Sunshine Stars yesterday picked the remaining three tickets to the Nigeria Premier Football League (NPFL) championship playoffs on a dramatic final day.

    In Group A, Remo Stars climbed to the second spot following a 4-0 drubbing of Kwara United at the Remo Stars Stadium, Ikenne as the Sky Blue Stars scored all four goals in the opening 35 minutes.

    Andy Okpe, Seun Odunsi and Philip Odubia’s double helped Remo Stars to finish the season with 33 points from 18 games .

    Despite playing a goalless draw against Shooting Stars in Ibadan, Enyimba are heading to the Super 6 after placing third in Group A with 32 points.

    They managed to fend off 2021 league champions, Akwa United on better goals difference after the Promise Keepers recorded a 1-0 away win over Gombe United but James Ajako’s 30th minute goal was enough.

    In the rest of the Group A games, Plateau United played an entertaining 2-2 with El Kanemi Warriors in Maiduguri while Nasarawa United and Bendel Insurance settled for a 1-1 draw in Jos. The draw kept Insurance’s unbeaten start to the season intact.

    In Group B, Sunshine Stars grabbed the remaining ticket in the group after a 3-0 whiplash of already relegated Dakkada FC in Akure while the 2-0 defeat suffered by Doma United in Umuahia against Abia Warriors ended their Super Six hope.

    Abia Warriors finished fourth with 27 points same points as third placed Sunshine Stars but Warriors’ leaky defence was their albatross.

    Niger Tornadoes were pinned 2-0 by Bayelsa United in Yenagoa through the goals of Alex Oyowah and Stephen Wisdom. Wikki Tourists surprisingly beat Lobi Stars 2-0 in Jos to dent their unbeaten home record.

    Reigning league champions, Rivers United topped Group B ahead of the Super Six with 34 points from 18 games. They finished four points better than second -placed Lobi Stars.

    The Pride of Rivers achieved the feat after a 1-1 draw against Enugu Rangers in Awka as Bayelsa United pipped the Flying Antelopes to the seventh spot by the highest number of goals scored after both teams ended on the same number of points (21) and goals difference (0).

  • Abaka, Ukpeseraye win National Cycling Road Championship

    Abaka, Ukpeseraye win National Cycling Road Championship

    Nigeria’s leading female cyclist and National Sports Festival Champion, Ese Ukpeseraye and Kurotimi Abaka yesterday g emerged as the respective Elite Women and Elite Men road race Champions of the National Cycling Road Championship held in Rivers state capital, Port Harcourt.

    The one day event sponsored by the Rivers State government, saw over 150 cyclists from 21 states of the federation jostle for the top prize of N600,000 each in both the Elite men and women categories.

    Delta State-born Ukpeseraye had earlier qualified for next year’s 33rd Olympic Games scheduled to hold in Paris, France after she clocked 250 points at the 19th Confederation of African Cycling African (CAC) Road Championships in Accra, Ghana in February where she won the gold medal in the Elite Women Road Race.

    She said after her race that she was particularly happy winning and now focused on a positive outing in Paris next year, adding that she has secured scholarship for a six-month training tour scheduled to commence next month in France.

    She further assured Nigerians that she would make the country proud at the global stage next year provided she is able to compete in more international races in other to improve herself heading to the Olympics.

    Adaka who represented Bayelsa State, was grateful to win the race despite a slow start, saying he had doubts competing in the road race after taken ill two weeks ago and had to pull out of the Tour of Benin Republic in the last minute, adding that this victory was down to his resilience and never-quit attitude.

    Abaka, who has also qualified for the Paris 2024 after winning a gold medal at the Class B Tendam elite men’s category also in Ghana in February, also called on the Nigeria Cycling Federation (NCF) to work towards improving the standard of the sport in the country and listed getting standard bicycles, regular competitions and good welfare packages as some of the challenges hindering the development of cyclists.

  • Eight clubs to battle for Dozy Mmobuosi/NPFL Super Cup

    Eight clubs to battle for Dozy Mmobuosi/NPFL Super Cup

    The Dozy Mmobuosi Foundation has adjusted the number of participating teams for the 2023 edition of Dozy Mmobuosi/NPFL Pre-season Super Cup after extensive consultations aimed at ensuring a robust competitive pre-season tournament.

    The Foundation said the decision to trim the numbers was a difficult but needed towards sustaining the tempo of the competition already established during the first edition.

    “While we acknowledge and appreciate the passion that may have been fired up in anticipation of the earlier number made public, the decision to adjust the number of participating teams was not taken lightly.

    “We recognise the potential disappointment this might cause. However, our commitment to the highest level of competitive football remains unwavering. We firmly believe that this change will allow for a more concentrated display of skill, intensify competition among the top teams and ultimately enhance the fan experience. Our priority continues to be delivering a thrilling and memorable Super Cup and playing a role in further developing the football infrastructure”, explained Ebuwa Martins Agbonwaneten, the Chief Executive Officer of The Dozy Mmobuosi Foundation.

    The tournament sponsor further noted that reducing the number of teams from 12 to 8 would also encourage competition in the regular season as only the very best will make the cut.

    “With a total of 20 teams in the NPFL, having 12 teams in the Super Cup would exceed the halfway mark and potentially impact the overall competitiveness. By allowing only the top 8 teams based on their performance in the preceding NPFL season to participate, we can guarantee that each qualifying team showcases the highest level of skill and performance, thereby elevating the standard of the Super Cup and NPFL”, the statement continued.

    “While we understand that some may have concerns about the impact on team qualification and public perception, we want to emphasise that this adjustment will create an environment for more intense matches and deliver an even more thrilling experience for fans and spectators.”

    The Dozy Mmobuosi Foundation restated its commitment to upholding the integrity of the Super Cup and maintaining the trust of all stakeholders , adding it will deliver an exceptional and unforgettable Super Cup experience to players, fans, and all stakeholders involved.

  • Napoli 3-1 Inter: Osimhen faults Spalletti over early substitution

    Napoli 3-1 Inter: Osimhen faults Spalletti over early substitution

    Victor Osimhen was visibly furious with Napoli coach Luciano Spalletti when substituted during yesterday’s home win against 10-man Inter in a Serie A tie at the Stadio Maradona.

    The Nigeria international who is the current Capocannoniere of Serie A with 23 goals this season, was hoping to further add to his tally but just after Andre Frank Zambo Anguissa opened the scoring, Spalletti decided to make a double substitution, hauling off Osimhen and Eljif Elmas for Giacomo Raspadori and Giovanni Simeone.

    Osimhen did not take the decision at all well, removing his iconic protective mask and repeatedly shouting ‘Why? Why?’ towards Spalletti and the coaching staff as he walked off the field.

    But two more goals from Giovanni Di Lorenzo and Gianluca Gaetano late into the match eventually earned champions Napoli a 3-1 home win against 10-man Inter Milan.

    Napoli have now beaten all 19 Serie A teams in a single season for the first time.

    The visitors’ task became more difficult when Roberto Gagliardini was sent off after receiving a second booking four minutes before the interval for a late challenge on Anguissa.

    Anguissa opened the scoring in the 67th minute when he received the ball unmarked inside the box, turned and volleyed into the far bottom corner of the net.

    Romelu Lukaku equalised with a precise tap-in from six yards out in the 82nd minute. However, Napoli captain Di Lorenzo expertly curled a superbly placed shot into the far top corner from outside the box three minutes later.

    Gaetano then scored the third for the hosts four minutes into stoppage time as he faced Inter keeper Andre Onana in a one-on-one and finished calmly.

  • Arla Foods gets 216 Danish Holstein Heifers

    Arla Foods gets 216 Danish Holstein Heifers

    The vision of Arla Foods, makers of Dano Milk, to shape the future of dairy in Nigeria, received a major boost as the company takes delivery of 216 Danish Holstein Heifers for its Kaduna dairy farm.

    According to Arla Farm Manager, Dr. Jimmy Johnmark, the 216 Holstein-Friesian heifers,  arrived in the Mallam Aminu  Kano Airport, Kano from Europe, in the early hours of May 9, ahead of the inuaguration of the farm later this month. He noted that the Holstein-Friesian breed has a much higher expected yield per cow compared to the local breeds.

    “We are very excited to announce that the Arla Farm is fully set to commence operations for milk production, to boost local dairy production, with the arrival of the livestock from Denmark” he said.

    He explained further that the heifers have now settled into the farm and are getting comfortable in their new home, noting that milk production on the farm is expected to start in the third quarter of 2023.

    Arla Farm, located in Kaduna State, is a state-of-the-art commercial dairy farm, established by Arla Foods to serve as a model for productive and sustainable dairy farming in Nigeria. The farm development project, which officially began in 2021, is one of Arla’s investments in Nigeria’s dairy sector and one of the steps taken towards backward integration in Nigeria. 

    Senior Manager, Raw Milk Supply and Production, Mr. Snorri Sigurdsson, disclosed that the ultra-modern Arla Farm, which is the first of its kind in Nigeria, covers a land area of 400Ha, and has the capacity to house 400 milking cows and in total 1,000 animals. It will feature modern technology for optimal animal comfort and milk production.

    He further hinted that the Arla Farm has been developed to be a showcase for sustainable and efficient dairy farming in Nigeria. 

    He noted that with completion of the construction work on the Arla Farm and the arrival and settlement of the heifers, all is now set for the official commissioning of the farm by the State Governor,  Mallam Nasir El-Rufai.

  • Diversity enhances corporate performance, say experts

    Diversity enhances corporate performance, say experts

    Diverse and inclusive board and management tend to perform better, experts have said.

    Experts, who spoke at the first  Annual Corporate Governance Colloquium organised by Nigerian Exchange (NGX), Nigerian Bar Association Section on Business Law (NBA-SBL) and Institute of Directors (IoD), said diversity helps to deepen corporate governance and performance.

    Chairman, Ecobank and Chairman Board of Trustees of the Lagos State Employment Trust Fund (LSETF), Bola Adesola, said that with diversity on boards in age, background, experience, organisations can bring a broader range of perspectives to decision making processes.

    According to her, diverse boards are more likely to challenge groupthink, consider different viewpoints and make better informed decisions.

    Chairman, NBA-SBL, Dr Adeoye Adefulu, noted that companies benefit from the diversity of ideas and opinions expressed when men and women both occupy positions on the boards and management of companies.

    Speaking at the colloquium themed “Diversity and Inclusion: Adopting a Multi-Stakeholder approach in the promotion of good governance”,  Chief Executive Officer, Nigerian Exchange (NGX), Temi Popoola, said the Exchange was committed to promoting diversity and inclusion.

    Popoola who was represented by the Divisional Head, Business Support Services and General Counsel, NGX, Irene Robinson-Ayanwale, said NGX recognizes that compliance to corporate governance standards helps to increase investors’ confidence in issuers and improves their access to a broader pool of domestic, regional, and international investors.

    He assured stakeholders that the exchange will continue to advance practical initiatives that will enhance diversity and inclusion in the private sector, leveraging partnerships like the Corporate Governance Triangle and the Nigeria2Equal Project with IFC.

    President, IoD, Dr Mrs Ije Jidenma, who was represented by Alhaji Tijani Borodo, First Vice-President, IoD, said, that world organisations need to scale up the culture of composing well diverse boards which is best practices in corporate governance.

    “Findings have shown that diverse and inclusive boards stand a better chance of reaping from the rich and innovative ideas of members, make more effective decisions and provide better guidance and direction that guarantees financial prosperity.”, Jidenna said.

  • Stockbrokers, LBS partner on professional excellence

    Stockbrokers, LBS partner on professional excellence

    The Chartered Institute of Stockbrokers (CIS) through its training arm, CIS Academy,  has signed a Memorandum of Understanding  (MoU) with the Lagos Business School (LBS) for sustainable capacity building and development training.

    President, Chartered Institute of Stockbrokers (CIS), Mr. Oluwole Adeosun, said CIS and LBS shared common mandate of development of professional excellence for the growth of the economy.

    He noted that both institutions were not only established about the same time but shared some common mandates  to train future leaders, adding that CIS, being a certification institute, is involved in top-notch training programmes.

     “We were both established at about the same time: LBS in 1991 and CIS charters in 1992. We both share a common mandate to train and produce professional leaders for the Nigerian economy, and we have both acquitted ourselves remarkably well in this regard, setting the pace and standards in our various jurisdictions. The partnership is expected to provide a good platform for industry professionals and executives to catch up with the rapidly changing business landscape and innovations in the contemporary business environment,” Adeosun said.

    He said the partnership was of immense significance to the economic development of Nigeria as one giant step in upgrading professional competence,

     According to him, this will lead to improved service delivery and product development in the capital market which is the engine of sustainable development,

     “The Lagos Business School was named by the prestigious Financial Times of London last year as one of the Top 50 business schools in the world, for the 15th consecutive time! We truly feel very proud to be associated with such a distinguished institution. Both CIS and LBS have the human capital to train participants,

    “In carrying out these functions, CIS provides continuous professional development for its members, and capacity building for professionals in the capital market and financial industry generally. The institute also engages actively in economic and financial market policy advocacy with key organs of government and regulatory bodies across the economy,” Adeosun said.

    The first edition of the training programme, which was held at LBS, focused on a range of issues about board, leadership, regulation, and compliance issues in the securities and investment in Nigeria. It attracted seasoned capital market regulators and operators, captains of industries,  board members and senior management staff of pension industry. Among the facilitators at the maiden edition were some top capital market regulators, chief executive officers of quoted companies, seasoned stockbrokers, and top faculty members at the LBS.

    “The maiden  training was a high-impact executive capacity development programme, designed to  provide participants with a comprehensive understanding of key and emerging regulatory and compliance issues in the Nigerian capital market. We envisage, going by the provisions of the MoU that this enduring partnership will hopefully, lead to the stage where Lagos Business School will offer Degree Programmes in Securities and Investments, at various academic levels,” Adeosun said.  

  • Raji-Mustapha is DG National Productivity Centre

    Raji-Mustapha is DG National Productivity Centre

    The Federal Government has appointed Dr Nasir Raji-Mustapha as the Director- General of the National Productivity Centre (NPC).

    Minister of Labour and Employment, Dr. Chris Ngige, presented the letter of appointment to the new NPC chief  in Abuja.

    Director, Press and Public Relations, Federal Ministry of Labour and Employment, Olajide Oshundun said this in a statement.

    The letter, dated May 2,  and signed by Ngige, reads: “Appointment as the Director-General of the National Productivity Centre.

    “In accordance with the provisions of Section 5 of the National Productivity Centre Act, Cap 70, Laws of the Federation of Nigeria (LFN), 2004; Mr President, Muhammadu Buhari has approved your appointment as the new Director-General of the NPC.’’

    “You shall hold office for four years and shall be eligible for re-appointment for a period of four years. Your current appointment takes effect from May 19, 2023 when the tenure of the incumbent Director-General is expected to expire.”

    Accepting the appointment, the new DG thanked the President and the minister for finding him worthy of the appointment and promised to take the organisation to greater heights in order to realise its mandate.

    Until his new appointment, Raji-Mustapha was the Director of Procurement in the Centre.

    He was at different times, Deputy Director and Assistant Director under various capacities, during which he handled numerous important and strategic assignments, geared towards enhancing national productivity.

    Raji-Mustapha joined the Centre in 1994 as a Senior Productivity Research Officer, Agriculture and Rural Productivity Department, Abuja.

    Before entering the public service, he was a Lecturer at Alemaya University (Now

     Haramaya University), from 2002 to 2004 under the Ethiopia-Nigerian Technical Aid Corp Volunteer.

    His academic qualifications include a Masters Degree in Business Administration (MBA), Master of Science (M.Sc.) in Applied Entomology and Parasitology, Doctor of Veterinary Medicine (D.V.M) and West African School Certificate.

    As a scholar, he published three books and no fewer than six articles in both local and international journals.

    The institutions attended by Raji-Mustapha include University of Jos, Plateau State, Ahmadu Bello University Zaria, Nassarawa State University and Olalomi Comprehensive College, Offa, Kwara State, among others. He has also attended numerous local and international trainings and workshops.

    Raji-Mustapha has equally won numerous prizes and awards, including the National Productivity Merit Award of the National Productivity Centre, Best M.Sc. Student in Applied Entomology and Parasitology in Unijos(1995) and Best MBA Student, Nassarawa State University Keffi (2019), among others.

  • ‘Adequate knowledge will boost investments in pension, mutual funds’

    ‘Adequate knowledge will boost investments in pension, mutual funds’

    Access to adequate information, data and research will enhance the performance of the collective investments and pension funds segments of the Nigerian capital market.

    Founder and Chief Executive Officer, MoneyCounsellors.com, Mr. Michael Oyebola said low awareness and lack of useful data for investment decisions were among factors militating against popular participation in the Nigerian capital market.

    Oyebola, former managing director of Chapel Hill Denham Management, spoke at the weekend during media presentation of MoneyCounsellors.com, a research, data and information platform.

    According to him, there was a dearth of consolidated information and analysis on pension and mutual funds in Nigeria.

    He said his platform aims at addressing this missing link and provide value to the pension fund and mutual fund operators and industry; empower investors with data, analysis, and expert insights on pension and mutual funds, thus allowing people to invest and save with confidence.

    He said adequate information and resultant popular participation will help to substantially grow and transform the pension fund and mutual fund industry.

    “Investment education and availability of data is key to boosting the low participation of people in mutual funds. This is part of the reasons we came up with MoneyCounsellors.com. We believe that knowledge can give investors enormous power. So we go beyond providing data and tools by offering educational materials and resources to enhance financial literacy and decision making. By equipping investors with valuable insights, we aim to foster a culture of informed choices and decision making that can lead to long-term financial success,” Oyebola said.

    He said the platform was launched to offer RSA holders and mutual fund investors in Nigeria a one-stop platform, where it is easy to analyse and compare all pension funds and mutual funds in Nigeria.

    According to him, the platform offers a comprehensive suite of tools and resources to help make informed investment choices and decisions.

    “With a focus on pension funds, mutual funds, and annuity products, MoneyCounsellors.com is changing the way investors access, analyse, and utilize pension and mutual fund information. The platform resets the information and analysis landscape for pension and mutual funds in Nigeria by providing users with unparalleled access-to reliable data, in-depth analysis, and expert insights on all pension and mutual fund products.

    “As a free resource, our platform empowers investors of all backgrounds to monitor their investments, stay informed about industry trends, and make sound financial choices. We are thrilled to introduce the platform to the Nigerian RSA holder, mutual fund investor and public. Our platform aims to bridge the information gap by empowering investors with the necessary tools, resources, and expertise to make confident investment choices and decisions.

    “With a combination of more than 10 million Retirement Savings Account (RSA) holders and mutual fund accounts and growing, we envision a future where every investor has access to reliable data to choose, monitor, evaluate or transfer to and/or from a pension or mutual fund with ease,” Oyebola said.

    He pointed out that MoneyCounsellor.com is free to all users, whether they already have a retirement savings or mutual fund account or just starting their saving and investment journey.

    He added that by democratizing access to information and expertise, the new platform serves as a catalyst for financial growth and prosperity in Nigeria.

    Oyebola, former managing director of FBNQuest Asset Management, said the new platform will also provide relevant industry news and trend analyses to support institutional and retail investors.