Author: The Nation

  • The Visitors

    The Visitors

    Atiku Abubakar looks at himself in the mirror and sees a chess player.

     He may not be a certain politician who did so when he was governor and belted out a song of self-praise, to wit: “I am ugly but I am governor and the most powerful man in this state.” I spare the world his name and state.

     He, at least, exercised a sense of self-scrutiny and physical realism to chasten himself.

    Atiku lacks such self-deprecating humility.

    But he, of all days, chose a season of holy ferment to play a politics of visitation.

    As philosopher David Hume noted: “The corruption of the best produces the worst.”

    One can muse on visits and their imports.

    We know of arrivals of pesky in-laws and cold handshakes and placid smiles.

     The famous movie, Look who’s coming for Dinner with Sidney Poitier reverses that sentiment.

    The visit of coup plotters, like Buhari had when he was head of state.

     A handshake of grudges like the one between Yasser Arafat and Ehud Barak that betokened blood and death. Between Hitler and Neville Chamberlain, after which Hitler mocked: “Our enemies are tiny little worms. I saw them the other day at Munich.” Or the bearhug of Russian diplomat Andrei Gromyko in the embers of the Cold War. Richard Nixon rebuffed Brezhnev’s hugs. He preferred handshakes. Or the handshake between Tinubu and Atiku during the 2023 election campaign at a chance meeting where both had few words to exchange.

    Tinubu turned it into a fashion moment adjusting something on his rivals. Sometimes visits are sneaky, like Odysseus, who returned from the Trojan War to see a flock of men trying to take his wife, Penelope.  Atiku was not the only visitor.  Nasir El-Rufai also came calling, a few days before he decided to go to court to challenge an avalanche of corruption charges. But beware of visits under the cover of God. We had the visits of the three wise men at the birth of Christ, and it is still a liturgical controversy today whether they are of God or of the enemy.

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     In his famous poem, T.S. Eliot calls it a “hard journey” in his Journey of the Magi. So, what are we to make of that visit. Shehu Sani put it in context. He described it as a “façade” and “surreptitiously a new attempt to build a strong northern alliance using ex-President Buhari as a rallying point to challenge and evict President Tinubu’s government in 2027.”

    He did not end his note without a prophecy. He said the “project will eventually kiss the dust.”

    He says they want to exploit Buhari’s folksy charm in the north and rally his mass following. Hence, I say the man has no sense of a real chess player.

     He wanted to play on the optics of a handshake to cast himself as a provocateur of the talakawa. He has invoked, without knowing it, a story of tribal prejudice during the 2023 election campaign.

    He stirred up the “our own is our own” mantra after he told the Arewa Council that the north should vote for their son. He forgets two things. One, that he cannot re-evoke the PDP primary strategy where he turned the north into a political horse trading. He took over Tambuwal’s vote and entrenched himself as the northern candidate. Two, his visit to Buhari reignites the allegation that the former president’s cabal were working for Atiku. That fueled the Nasir El Rufai’s rhetoric to confirm Tinubu’s camp’s charge that some elements in Buhari government wanted to sabotage his party’s candidacy. Does this visit not whip up that charge? Buhari will have, of course, to prove again that he is a party man, not an ethnic man. In the last polls, he had to brandish his voter’s card just to advertise his loyalty. Of course, Buhari will be forced to do same this time if the Atiku men want to play up the ethnic card. Atiku only remembers the north when he wants their vote. The point has ben made over and over as to what he has done to help the north as a big man of influence and wealth. His Adamawa State is one of the worst in development indices. The north has never done well. Atiku cohabits with southern elite where he makes wealth all the time except when he wants power. He is the most cynical politician of this generation. The second, of course, is El Rufai, who exposed Atiku’s ethno-regional chicaneries last year but he is in bed with him today. In the north, according to all researches including that of Redline and Oxford, most of the states have over 50 percent of citizens living below poverty line. In the northwest, in the last eight years, between 35 and 40 percent and in some states between 50 and 75 percent of its citizens were living below poverty line. These surveys covered between 2014 and 2023. Where was Atiku if not ensconced in his Dubai luxury rampart? For El Rufai, his Kaduna was 55 percent below poverty level when he could have done better with over N400 billion no one can account for. Yet, the Tinubu administration has appointed ministers in the north in the most critical part of their needs. Vice President Kashim Shettima made this assertion in the presence of Chief of Staff Femi Gbajabiamila. Vice President Shettima asserted that for insecurity, President Tinubu appointed two defence ministers from the north, Abubabakar Badaru and Bello Matawalle, Chief of defence staff Gen. Christopher Musa. But there is more. Few have heard of the Paluka initiative, a non-kinetic programme, amounting to hundreds of billions of naira, that focuses on pursuing development in a suite of states like Kano, Kebbi, Jigawa, Bauchi, Sokoto, etc. It is to be pursued by ministers of health, defence, economic planning, housing, agriculture. The ministers of health and agriculture are also from the north. These ministers have done little to serve as the story tellers of their mandates, and should have been the ones to tackle Atiku in his megalomaniac visitations. For instance, why has the agricultural minister not shown how the federal government has devoted about N300 billion so far in that sector in the area of largescale farming, fertilisers, etc.? With his appeal to northern sentiments, Atiku forgets that a narrative of such nature projects the north in what French thinker Michel Foucault sees as prefabricated identities, a people without dynamic or conscience to be corralled at will towards unthinking loyalty.  Writers and thinkers like Zadie Smith and Charles Taylor have mused over how such identities can endanger and problematize civilization. The last election exposed the futility of such automatic fanaticism as the north had hefty votes for the APC candidate. As Shehu Sani asserts, Atiku wants to privilege prejudice over national cohesion.

    He is the most dangerous politician in the country, followed by Peter Obi.

    The Atiku visit reminds one of Friedrich Durrenmatt, one of Europe’s best playwrights’ masterpiece, The Visit,  in which a native and now wealthy lady returns to her town and turns the whole community upside down. Atiku may want to read that play, if he reads.

  • Food master of West

    Food master of West

    The BOS of Lagos made news last week over his 59th birthday, and his picture embossed social media and newspapers. In one, he was surrounded by his family and kids he once described as his bodyguards. A clap for him. But the news that seems to have slipped under the radar was his new assignment: as the food master of the west.
    In a recent meeting of southwest governors, they focused on the food crisis, and charged him to coordinate efforts to make the region flush with food again.
    He will coordinate the agricultural commissioners in the states and lead in mass production. His governor colleagues picked him because of his own showing in the provision of food in Lagos State. Like the subsidized weekly markets and food kicthens, et al.

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    But the west has only recently had to contend with such scarcity because of dependency outside, fueling inflation. It is part of the president’s meeting with governors to start a food drive across the country. The West has always had farms and food, and the BOS of Lagos may invoke the songs we sang in my school, Methodist Primary School, Ibadan. “Iwe kiko lai si Oko ati ada/ koi pe o koi pe o/Ise agbe nise ilewa/ eni ko s’ise a ma jale.” Education without a hoe or a machete/ it’s not complete/ it’s not complete/ Farming is the work of our land/ whoever does not work will end up a thief.” Whether it is pepper, or rice or tomato, or onion, or bleating goats and groaning cows, or the slew of vegetables, they are doable, not only in the Southwest but across the country. In my school days, I accompanied my grandmother Iyaruvie in miles of treks to the farm where everything from pepper to cassava to yams were blooming. We had a huge yam barn in our compound. Governor Sanwo-Olu is upping the ante in the Imota Rice Mills, and that is a model for the rest of the region. As Lagos continues to be a state of example, so should the West be and the rest of the country. With the farms thriving, harvests will overwhelm and subdue food inflation.

  • …And El-Rufai goes to court

    …And El-Rufai goes to court

    It is interesting that former Kaduna State governor, Nasir EL Rufai, has decided to go to court and he is seeking N1billion for damages. It is good that he has responded to In Touch call for him to break his silence. But rather than account for his alleged infractions, he is giving it to the lawyers. That is not characteristically Nasir, who does not give the glory of his story to others. We are still waiting for him to talk, with typical Nasir bluster.  Silence is out of character, especially when his character is at stake. Again,

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    what of all the others accused who have fled the country? Is he a general without a foot soldier, not even his friend Jimmy Lawal? Why are they fleeing their master? The matter is still on the boil. The EFCC is on the matter. Is the court case a calculation to thwart an official inquiry and possible prosecution? Is it a court case to stop a court case?

  • Biden unravelling

    Biden unravelling

    Millions across the world joined millions of Americans to watch the country’s presidential debate last Thursday and the apparent outcome was humbling as it was unnerving: old man Joe Biden is in age-related meltdown. The verdict from the debate for the 81-year-old president who is seeking another term in the United States’ November elections seemed all too clear to many. It was a disaster!

    Before viewers’ very eyes, the octogenarian who is the oldest in US history to be seeking the world’s most powerful office stuttered and doddered in the face of taunts by not-too-young former President Donald Trump, who is seeking a return to the White House despite a first term so chaotic that many – even outside of American shores – wish an encore is evitable. Trump himself is 78 years of age, but he staged a relatively forceful performance that made his three-year age difference from Biden, who displaced him in the 2020 US election, seem like a generation.

    Biden, for Democrats, and Trump, for Republicans, locked horns in the Atlanta studios of frontline news network, CNN. The debate was aired live across the world, though there was no studio audience on hand. Immediate feedback from American voters was that respective performance by both oldies was underwhelming. But the performance by President Biden took ‘underwhelming’ to a new high. CNN’s analysis described the president as having posted the weakest performance since John F. Kennedy and Richard Nixon started the tradition of televised debates in 1960 – then, as on Thursday, in a television studio with no audience.

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    Biden’s performance reportedly left his party into panic mode over his chances, with barely five months before the US heads to the polls. “Biden has rooted his reelection in the idea that he is the last thing standing between America and a second Trump presidency that would destroy democracy and usher in an unprecedented era of American autocracy. Voters who take him at his word could not help but be alarmed at his abject debate showing,” CNN wrote in one of its analyses. “Biden’s voice was weak, at times reduced to a whisper. Early on, the president’s answers drifted into incoherence. He missed openings to jab Trump on abortion – the top Democratic talking point – and meandered into highlighting his own biggest political liability, immigration. ‘We finally beat Medicare,’ Biden said at one point, lapsing into confused silence. It was the kind of debate gaffe that Democrats had hoped to avoid. Worse, while Trump spoke, Biden often watched, his mouth gaping open, exacerbating an impression of a president cruelly diminished. His bravura battering of Trump in a debate four years ago was a distant memory,” the news site added.

    It may well be the world is witnessing an involuntary winding out of the Biden era.

  • Nigeria seeks more participation in $310b air cargo business

    Nigeria seeks more participation in $310b air cargo business

    The Federal Government is rolling out measures that will see Nigeria  become a major player in the global air cargo value chain set to hit $310 billion in the next few years.

    Part of the strategies being considered is the encouragement of state governments to put more investment in air transport infrastructure.

    Among such facilities include air cargo terminals intended as air cargo hubs for the country.

    To achieve this, discussions and partnerships are ongoing between the Federal Airports Authority of Nigeria (FAAN) and some supranational entities , which have comparative advantage in growing agricultural produce and other items that could be taken out of country by air  to earn  foreign exchange.

    From over $197 billion a few years back, the air cargo value chain has recovered and is  inching towards a higher mark.

    Plateau, Ogun , Nassarawa, Anambra, Ebonyi, Kano , Lagos and other states are among the locations considered for the designation as air cargo hub.

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    To drive this, some international financial institutions, including African Development Bank (AfDB), has invested in a quality assurance and testing facility in Sagamu, Ogun State for the Gateway Agro-Cargo Airport in Ilisan Remo.

    The hybrid air transport facility is waiting regulatory approval from aviation authorities to commence commercial passenger and cargo activities.

    Already, an air  cargo village is under construction along the Murtala Muhammed International Airport (MMIA), in Lagos.

    Besides, sources hinted that cargo processing centres are being considered for the designated facilities in order to ensure that the processing, packaging and labelling , storage and other require for air freight meet prescribed international standards.

    At the weekend, FAAN management opened a window for conversation with the Plateau State Government on how to upgrade the Jos Airport into a cargo hub.

    Speaking in an interview, FAAN’s Managing Director, Mrs Olubunmi Kuku expressed the readiness of the authority to collaborate with the state government in establishing a cargo terminal planned by the Middle Belt state.

    FAAN’s support, its boss said, will accelerate the actualisation of Plateau State’s drive to become one of Nigeria’s leaders in producing and transporting agricultural products.

    She underscored the importance of leveraging the state’s agricultural resources without waiting for major infrastructure developments.

    Mrs Kuku said : “While we may need to put up some major cargo infrastructure, I don’t think we need to wait. I will suggest that we make this modular. Let’s start within our immediate environments.”

    Mrs. Kuku proposed initiating marketing efforts for Plateau’s perishable goods and organizing market days to attract buyers from across the country.

    “We can start marketing some of your perishable items and creating market days when we invite people from across the country to fly in and buy these products. That will spur those who are willing to invest in testing, packaging, creating, storing, and transporting these produce all across the country. The possibilities are endless,” she added.

    On his part, Plateau State Governor , Caleb  Mutfwang expressed gratitude for FAAN’s enthusiasm and support for the state’s cargo business aspirations, promising continued efforts to achieve the goal.

    He said FAAN’s enthusiasm in touring facilities at Jos Airport demonstrates it’s commitment in supporting Plateau State’s economic growth through agriculture.

    He described the tour visit of the facilities as a  significant step towards transforming Plateau State into a key player in Nigeria’s agricultural sector, with potential benefits for both local farmers and the broader economy.

  • FCCPC probes three steel manufacturers over product quality

    FCCPC probes three steel manufacturers over product quality

    The Federal Competition and Consumer Protection Commission (FCCPC) is investigating the quality of steel being produced by three local steel manufacturing companies.

    The FCCPC team, at the weekend, stormed three steel manufacturing firms in Ogun State to investigate the quality of iron rods manufactured by the companies.

    The visited companies are African Foundries Limited (AFL), Ogijo, Ogun State; the Monarch Steel Mill Limited, Sagamu, Ogun State, and the Kam Steel Integrated Company, Sagamu, Ogun State.

    The Acting Executive Vice Chairman of FCCPC, Adamu Abdullahi, who addressed journalists at the premises of AFL, said the commission got intelligence that required it checks the quality of products produced by the companies.

    Abdullahi said the FCCPC team took samples of products to ascertain if they are involved in unfair market practices.

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    He said  the commission will not tolerate a situation where steel manufacturers  would produce 10mm iron rods but label and market same as 12 mm iron rods.

    This market behaviour, according to him, is among the major causes of building collapse in Nigeria.

    Abdullahi said: “We are talking here about the issue of safety of Nigerians, which is the core essence of consumer protection. We have to ensure the safety of our population. What is happening in the building space so far is worrisome to government and all well meaning citizens of this country.

    “So, we have to look at these processes to find out if they are cutting corners. If they are doing so, we will apply the full wrath of the law. That is why we are here”.

    Commenting on the attitude of the companies during the fact -finding mission, Abdullahi said that all the three companies were very cooperative to the commission.

     “That is why we had had no issues. Naturally, we would expect that their lawyers would have advised them and our laws allow that.”

    He emphasised that the FCCPC is on a fact-finding mission and information gathering stage and will analyse the collected samples to ensure they align with claims of the manufacturers.

  • PenCom projects increase in pension fund assets

    PenCom projects increase in pension fund assets

    Pension fund assets are expected to increase on the back of investment performance in the second quarter of 2024, the National Pension Commission (PenCom), has said.

    The commission in its financial market outlook for Q2 2024, said performance is particularly due to sustained performance in equity market, economic expansion and wage increase.

    This is contained in a document obtained by The Nation at the weekend. The document read: “The commission said the large-scale adjustment impact of significant reforms in the Nigerian economy which began in Q2:2023 persisted throughout the year and even into the first Quarter of 2024. The lingering effect was further exacerbated by the volatility in the currency and persistent high inflation associated with exchange pressures.

     “Headline inflation rose to 33.2 per cent as of March 31, 2024 from 28.92 per cent as of 31 December 2023. This was driven by increase in food and beverages coupled with energy and housing costs during the period under review. Interestingly, inflation continued to rise in spite of measures taken to increase Monetary Policy Rate (MPR) by the Monetary Policy Authority.

    “However, the increase in MPR led to strengthening the Naira against foreign exchange which has seen positive results. During the period, the Naira had appreciated against the dollar from about N1,900.00 to $1.00 to approximately N1,100.00 to $1.00 in recent weeks. As the naira rebounds, it was expected that there would be significant reduction in the prices of food and basic commodities, however this has remained significantly high”.

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    “The equity market maintained its resilience during the period as the Nigerian Bourse witnessed a general appreciation in the prices of stocks with the All Share Index (ASI) further appreciating by 39.84per cent in Q1:2024 relative to 12.64 per cent in  Q4:2023. However, bond prices depreciated as the average yield on 10-year government bonds increased to 18.48percent in Q1:2024 from 14.39 per cent in Q4:2023”.

    According to PenCom, the Net Asset Value (NAV) of Pension Fund Assets as at March 31, 2024 was N19.66 trillion. Pension Fund Assets, it was stated, were mainly invested in Federal Government Securities (FGN), which accounted for 62.03 per cent of total assets.

    The compositions of investments in FGN Securities were FGN Bonds, 96.25 per cent; Treasury Bills, 2.20 per cent; and Agency, Sukuk and Green Bonds, 1.55 per cent.

    The report further put the total pension contributions remitted to individual RSAs in First Quarter, 2024 at N314.17 billion. Out of this total, the public sector accounted for N163.279 billion or 51.97 per cent, while the private sector contributed N150.889 billion or 48.03 per cent.

    The cumulative pension contributions from inception to the end of the first quarter of 2024 amounted to ₦10.25 trillion, the report read.

  • TotalEnergies to acquire 60% stake in Sao Tome and Principe asset

    TotalEnergies to acquire 60% stake in Sao Tome and Principe asset

    TotalEnergies SE is acquiring a 60 percent interest and operatorship in Block STP02, offshore Sao Tome and Principe, from the Agência Nacional do Petroléo de S. Tomé e Principé (ANP-STP).

    The remaining interest will be held by the existing licence holders, Sonangol with 30 per cent and ANP-STP with 10 per cent. The transaction is subject to final approvals from relevant authorities, TotalEnergies said in a news statsment. The financial details were not disclosed.

    Located within an emerging basin, 37.3 miles (60 kilometers) off the coast of Principe, Block STP02 covers an area of 1,918 square miles (4,969 square kilometers). Block STP02 is adjacent to the Block STP01 licence operated by TotalEnergies with a 55 per cent stake, alongside Sonangol with 30 per cent and ANP-STP with 15 per cent.

    “Following the encouraging prospectivity interpreted on the 3D seismic data on adjacent Block STP01, TotalEnergies continues to progress its exploration effort in Sao Tome and Principe, by entering this promising licence, thereby maintaining the optionality of the company’s portfolio,” Kevin McLachlan, Senior Vice-President Exploration of TotalEnergies, said.

    Meanwhile, TotalEnergies, as shareholder of Offshore Wind One GmbH, was awarded the maritime concession N-11.2 by the German Federal Network Agency, after auctions held in the country.

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    Located in the North Sea, around 74.6 miles (120 kilometers) northwest of the German island of Heligoland, concession N-11.2 covers an area of approximately 60.2 square miles (156 square kilometers). This success will enable TotalEnergies to build a 3.5-gigawatt (GW) offshore wind hub in the German North Sea, taking benefit of the synergies between this new lease and the 2-GW concession N-12.1 that it won in 2023. The concession will run for a term of 25 years, extendable to 35 years.

    Under the terms of the award, Offshore Wind One GmbH will pay, at the latest in June 2025, the German Federal government $210.71 million (EUR 196 million), which will be allocated to marine conservation and the promotion of environmentally friendly fishing. An annual contribution of $94.6 million (EUR 88 million) will also be paid to the electricity transmission system operator in charge of connecting the project, for a term of twenty years starting from the commissioning of the site, according to an earlier release.

    “Building upon the successful award of concession N-12.1 in the German North Sea last year, the award of the N-11.2 site will enable TotalEnergies to establish a 3.5-GW offshore wind energy hub, building on the quality of both sites and taking advantage of the development and operational synergies between them,” President Gas Renewable and Power of TotalEnergies, Stéphane Michel, said.

    “This marks a new step for the deployment of TotalEnergies Integrated Power strategy in Germany after the acquisition of Quadra Energy, one of the top three aggregators of renewable electricity production and of Kyon Energy, a prominent developer of battery storage solutions. TotalEnergies is also very pleased to contribute to Germany’s decarbonization targets,” Michel added.

    As part of its ambition to get to net zero by 2050, TotalEnergies said it is building a world class cost-competitive portfolio combining renewables and flexible assets to deliver clean firm power to its customers. At the end of 2023, TotalEnergies’ gross renewable electricity generation installed capacity was 22 GW. TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 terawatt-hours of net electricity production by 2030.

    TotalEnergies’ portfolio in offshore wind has a total capacity of more than 16 GW, with most farms bottom-fixed, it said.

  • Don calls for empowerment of local brands

    Don calls for empowerment of local brands

    A university don in the Marketing Department of the University of Nigeria, Enugu Campus, Prof. Justitia Nnabuko, has called for the empowerment of local brands and harnessing local content to achieve global success, which he said can be achieved by designing and implementing robust local content strategies and flagship programmes across board.

    Nnabuko, who spoke at the National Institute of Marketing of Nigeria (NIMN) 2024 Annual Marketing Conference held in Ibadan, Oyo State with the theme: “Empowering Nigerian Brands: Leveraging Local Content for Global Success,” stressed that empowering brands in the country requires a multi-faceted process to make them competitive and highly sustainable in the domestic as well as global markets.

    “We need to inject local talent development, prioritise local investment and stimulate local innovation and technology development. Equally vital to investing in the country’s value creation now more than ever, the reasonable vogue is localising strategically and this involves the procurement of locally produced goods, services, and labour,” she said.

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    The president, NIMN, Idorenyen Enang, in his speech, revealed of a strategic partnership with institutions like Lagos Business School (LBS) on capacity building that will increasingly enhance businesses and economic growth, as well as preliminary arrangements with corporate bodies like Nestle to promote internships and sabbaticals for marketers in academic circles.

    In similar vein, the Chairman of the NIMN Events & Conference Committee, Nana Milagrosa Utomi Biyang, praised the robust turnout and active participation at the event. “Our members’ engagement in the sessions, discussions, and networking activities has been phenomenal, reinforcing the idea that we are all dedicated to advancing the marketing profession in Nigeria. We had a diverse lineup of speakers and academia panelists from various higher institutes in Nigeria, each bringing unique insights and perspectives to the table,” she said.

  • BetKing supports 5,000 households

    BetKing supports 5,000 households

    BetKing, a sports betting and entertainment platform, said it has impacted over 5,000 households across 15 communities in its just concluded outreach campaign- “BetKing Cares,” tagged “Month of Good.”

    The campaign, an outreach programme which addressed critical social and health-related issues, was held across five states—Ogun, Abia, Abuja, Akwa Ibom, and Lagos.

    Speaking on the initiative, Managing Director of BetKing, Gossy Ukanwoke, said: “Our mission transcends business success; it encompasses a deep commitment to the communities that support us. By actively engaging with and addressing their pressing needs, we can foster significant, positive change. This initiative is about empowering individuals, improving lives, and nurturing potential within each community member. We are committed to creating lasting impact and continually supporting and uplifting those around us.”

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    The “Month of Good” campaign included medical outreaches offering health education, free health screenings for malaria, blood pressure, and eye tests, along with the provision of basic drugs at selected agents’ shops. For the Food Drive initiative, BetKing employees providing food items to families and customers across the targeted states.

    Additionally, employees and stakeholders donated pre-loved clothes to people in need. BetKing aims to continue rolling out community-driven initiatives to consistently give back to society.

    In Abia State, the team was present in the Ndagbo Afara Community, Umuahia North Local Government. In Abuja, they were at the Kaita Plaza in Gwagwalada. In Ogun State, the team operated in the Iyana Mortuary Axis in Abeokuta. In Akwa Ibom, the team was active in Ikot Ekpene. In Lagos, the team set up at the Opeyemi Plaza, Moshalashi Egbeda/Idimu axis.