Author: The Nation

  • Former Service Chiefs begin handover today  

    Former Service Chiefs begin handover today  

    The outgoing Service Chiefs will hand over the batons to their successors from today.

    President Bola Tinubu had on Monday relieved them of their duties and named Maj. Gen. Taoreed   Lagbaja, Chief of Army Staff (CAS);  Rear Admiral Emmanuel   Ogalla,  Chief of Naval Staff(CNS)  and Air Vice-Marshal Hassan  Abubakar, Chief of Air Staff.

    The Chief of Defence Staff, General Lucky Irabor (CDS), was replaced with  Maj.-Gen. Christopher  Musa 

    In line with military tradition, each service is guided by its procedure for change of baton.

    The process normally begins with the Air Force, followed by the Navy, the Army and lastly, the Defence Headquarters.

    The former Chief of Air Staff,  Air Marshall Isiaka Oladayo, will today hand over to Abubakar.

    Read Also: Appointment of Ribadu, Service chiefs excites ex-militant leader

    According to an invitation by NAF Spokesman,  Captain J.  Abioye,   the event will take place at M.D Umar Blue Room headquarters of the Force.

    Abioye’s counterpart in Navy,   Commodore Ayo  Vaughan, said the former CNS,  Gambo, would hand over to Ogalla tomorrow. 

    Vaughan said: “Upon the announcement of the change of the ‘Watch on deck’, the outgoing Chief of Naval Staff is expected to give detailed briefs to the incoming Chief of Naval Staff, tour key naval facilities and perform the ceremonial lowering of the ensign.

    “Accordingly, the programme of events leading to the formal handing and taking over ceremony has kicked off to culminate at a public ceremony on Friday 23 June 2023 in line with age-long naval tradition.”

    The Army and the Defence headquarters have yet to communicate the dates for handing over former  CAS  Faruk Yahya and former CDS Irabor.  

  • NBS: DisCos raked in N247 billion in Q1

    NBS: DisCos raked in N247 billion in Q1

    ELECTRICITY distribution companies (DisCos) raked in   N247.33 billion as revenue in the first quarter of this year, a National Bureau of Statistics (NBS) document showed yesterday.

    The figure, according to the bureau, is an improvement on the N232.32 billion the companies collected in the fourth quarter of last year.

    It also revealed that on year-on-year basis, the revenue increased by 20.81 per cent from the 204.74 per cent it recorded in the corresponding period of the previous year.

    This is contained in the NBS document, titled:  ”Electricity Report Q1 2023,” which The Nation obtained in Abuja.

    According to the data, “the revenue collected by the DisCos during the period is N247.33 billion from N232.32 billion in Q4 2022”.

    On a year-on-year basis, revenue generated in the reference period rose by 20.81 per cent, from N204.74 billion recorded in Q1 2022.

    The document noted that electricity supply was 5,852 (Gwh) in Q1 2023 from 5,611 (Gwh) in the previous quarter.

    Read Also: NERC stops DisCos from billing disconnected customers

    It added that on a year-on-year basis, electricity supply declined by 1.74 per cent, compared to the 5,956 (Gwh) reported in Q1 2022.

    The NBS said that from 11.06 million customers in the fourth quarter of 2022, they increased by 1.89 per cent to 11.27 million in the first quarter of 2023 Q1 2023.

    According to the data, the figure rose on a year-year basis to from 10.63million customers recorded in Q1 2022 by 5.99 per cent.

    The NBS data reads: “Total customer numbers in Q1 2023 stood at 11.27 million from 11.06 million in Q4 2022, showing an increase of 1.89 per cent.

    “On a year-on-year basis, customer numbers in Q1 2023 rose by 5.99 per cent from 10.63 million reported in Q1 2022.”

    The bureau put the number of metered customers at 5.31 million in Q1 2023, indicating a growth of 3.61 per cent from 5.13 million recorded in the preceding quarter.

    The data said on a year-on-year basis, the figure grew by 10.86 per cent from the figure reported in Q1 2022 which was 4.79 million.

    The Bureau also in addition, estimated customers during the quarter were 5.96 million in Q1 2023, higher by 0.40 per cent from 5.93 million in Q4 2022.

    It added that on a year-on-year basis, the estimated customers increased by 1.99 per cent in Q1 from 5.84 million in Q1 2022. 

  • Jonathan, others arrives Freetown ahead of Saturday’s poll in Sierra Leone

    Jonathan, others arrives Freetown ahead of Saturday’s poll in Sierra Leone

    MEMBERS of the West African Elders Forum (WAEF), led by former President Goodluck Jonathan, have arrived in Freetown, Sierra Leone’s capital ahead of the country’s general election scheduled for Saturday.

    The Communications Officer of the Goodluck Jonathan Foundation, Wealth Dickson Ominabo, who confirmed their arrival in a statement yesterday, said the delegation also includes Kadre Ouedraogo, a former Burkinabe prime minister and one-time President of the Economic Community of West African States (ECOWAS).

    The statement said the forum, through the visit, aims to encourage and support a peaceful and democratic transition in Sierra Leone.

    Read Also: Jonathan briefs Tinubu on developments in Mali

    Ominabo explained that the Jonathan-led team will have a series of consultative engagements with different actors and key stakeholders in the country, including leadership of the political parties, the candidates, the Election Commission for Sierra Leone (ECSL), security agencies, the diplomatic community, civil society groups, and the media.

    The statement reads: “Since its establishment in 2020, WAEF, an initiative of the Goodluck Jonathan Foundation, has undertaken missions to different countries in the sub-region, including Gambia and Nigeria, in line with the Forum’s mission of preventive diplomacy to reduce electoral-related tension and violence in West Africa.”

    It listed members of staff from the WAEF secretariat as party of the delegation.

    Jonathan said the mission “urges citizens of Sierra Leone to approach the election with utmost patriotism by prioritising the nation’s peace and stability and refrain from acts capable of undermining the nation’s democracy.”

  • Presidential poll hitch-free except for result upload, say Obi/LP’s witnesses

    Presidential poll hitch-free except for result upload, say Obi/LP’s witnesses

    • •APM ends case in two hours

    The Presidential Election Petition Court (PEPC) yesterday heard that the February 25 election was hitch-free except for the challenges associated with the results upload.

    Labour Party (LP) and its presidential candidate, Peter Obi, called three witnesses and tendered more documents.

    Dr. Chibuike Ugwuoke, Oloko Onoja and Kefas Iyak were subpoenaed.

    Also yesterday, the hearing was concluded in the petition by the Allied Peoples Movement (APM). The entire proceedings lasted for about two and a half hours.

    Ugwuoke, who claimed to be a Cyber Security expert, was led in evidence to tender his witness statement by Patrick Ikwueto (SAN) for the petitioners.

    The witness was ordered by the court to return today for cross-examination to enable the respondents to study his witness statement which was served on them a few minutes before proceedings commenced.

    Onoja, who claimed to work with the Women and Child Rescue Initiative, said he served as an election observer on February 25.

    Ikechukwu Ezechukwu (SAN) led the Onoja to adopt his written statement and tender a copy of his identity card.

    Under cross-examination by Abubakar Mahmoud (SAN) for the Independent National Electoral Commission (INEC), Onoja admitted that the ID card he tendered was not issued to him by INEC.

    The witness also said he did not perform any role during the election, including operating the Bimodal Voter Accreditation System (BVAS).

    He said from his observation, the entire election process went well up to collation at the ward centre, except for the inability of the presiding officer to upload the results to the INEC Results Viewing (IREV) portal instantly.

    Under cross-examination by President Bola Tinubu’s lawyer, Emmanuel Ukala (SAN), Iyak said he was a civil servant and an INEC ad-hoc Supervisory Presiding Officer.

    He said he and one Suleiman Mustapha supervised 24 polling units in Madagali Ward in Adamawa State.  

    Iyak also said aside from the inability of the presiding officers to transmit the presidential election results electronically, all the other processes of the election went well.

    “Scores of parties in the election were properly entered in Form EC8A and the results were properly announced to the hearing of all present.

    “The physical copies of Form EC8As were taken to the Ward Collation Centre. As a Supervisory Presiding Officer, it was not my duty to the BVAS machine,” the witness said.

    Under cross-examination by Ukala, Iyak admitted that the subpoena was not served on INEC, but on him personally. He denied being sympathetic to the LP.

    He said all the officials in the polling units he supervised complied with the regulations.

    Under cross-examination by the lawyer to the All Progressives Congress (APC), Lateef Fagbemi (SAN), the witness said agents of political parties were not expected to leave their duty posts during the election.

    “A polling unit agent is supposed to remain in the polling unit during the election. A ward collation agent is also required to remain in his collation centre during the election. So also is the local government and state collation agents of the political parties,” the witness said.

    After Iyak’s testimony, the petitioners tendered election materials, including certified true copies (CTCs) of the total number of registered voters and permanent voter cards collated in respect of 32 states through one of their lawyers, Peter Afuba.

    Afuba also tendered CTCs of supplementary IREV reports for two LGAs in Cross River State; 12 LGAs in Lagos State; three LGAs in Benue State; one LGA in Gombe State and a copy of a certificate of compliance in respect of Edo State.

    The hearing resumes at 2 pm today.

    July 14 for adoption of addresses in APM’s case

    APM is challenging President Tinubu’s election on the grounds that his running mate Kashim Shettima was not qualified to contest having allegedly engaged in double nomination.

    Petitioner’s lawyer, G. O. Idiagbonya presented his client’s case by calling a witness, Aisha Abubakar, who described herself as the APM’s Assistant Welfare Officer.

    Read Also: G-5 members absent as PDP leaders review performance at 2023 polls

    Idiagbonya made the witness adopt her five written statements on oath and tendered some documents through her, following which he announced the closure of the petitioner’s case.

    She was cross-examined by lawyers to the respondents, during which the May 26 judgment of the Supreme Court in the case by the PDP, where the apex court held that Shettima never had double nomination, was tendered.

    Under cross-examination by INEC’s lawyer Kemi Pinheiro (SAN), the witness admitted not being a staff of the commission.

    Abubakar said she would not be privy to when the electoral body received a notice from the APC indicating the substitution of the party’s candidate for Borno Central Senatorial district.

    While being cross-examined by Fagbemi, the witness admitted being aware of a judgment of the Supreme Court, delivered on May 26 in the case filed by the Peoples Democratic Party (PDP) against INEC and three others.

    Abubakar confirmed a copy of the judgment which was handed to him, following which Fagbemi applied to tender it.

    Although it was Idiagbonya who objected to its admissibility, the court admitted the certified true copy (CTC) of the judgment in evidence, which was marked as exhibit S1.

    At the conclusion of the witness’ cross-examination, the respondents – INEC, APC, Tinubu, Shettma and Kabir Masari – elected not to call evidence.

    They will rely on the May 26 Supreme Court judgment and a letter dated July 15 written to the INEC Chairman by the APC notifying the electoral body of the withdrawal of Shettma as a senatorial candidate of the APC for Borno Central Senatorial District.

    The court then ordered each of the respondents to file and serve the final written address within 10 days.

    It gave the petitioner seven days from the date of being served by the respondents, to also file and serve its final written address. The respondents are to subsequently their replies.

    It adjourned till July 14 for the adoption of written addresses, following which a date will be set for judgment.

    The scheduled resumed hearing in the petition by the PDP and its presidential candidate Atiku Abubakar was aborted due to lack of time and the late service of documents on the respondents by the petitioners.

    The court asked them to return today for the continuation of the hearing and extended the time till tomorrow for the petitioners to present their case.

  • PSG issues Mbappe contract ultimatum

    PSG issues Mbappe contract ultimatum

    Paris Saint-Germain have apparently issued a contract ultimatum to Kylian Mbappe in the wake of his refusal to extend his deal until 2025.

    The France international was seemingly on course for a free transfer to Real Madrid last year before unexpectedly committing his future to PSG for the next two seasons.

    Mbappe’s renewal included the option of a third year, but the 24-year-old recently sent a letter to the PSG hierarchy confirming that he had no plans to activate the clause.

    Having supposedly been left furious at Mbappe’s refusal to extend his contract, PSG are actively working to sell the forward this summer before his possible exit on a free transfer in 2024.
    However, Mbappe has curiously insisted that he plans to continue at the Parc des Princes for the upcoming season, and he is not thinking about his future until next summer.

    Read Also: Mbappe told PSG last year he would not extend deal

    Despite Mbappe’s affirmations, The Times – via Marca – claims that PSG have now given the striker an ultimatum in a bid to convince him to extend his contract.

    Should Mbappe relent and take up that 12-month option, PSG have supposedly promised him that he can join any other club next year, provided that the interested party pays at least €100m (£86m).

    However, should the former Monaco starlet stand firm and continue to resist the club’s efforts to tie him down, PSG will do everything in their power to offload him before the close of the window.

    Real Madrid – who failed with a £137m bid for the attacker in 2021- have been put on red alert by Mbappe’s contract saga, and Los Blancos will eventually need to sign a permanent replacement for Karim Benzema following the Ballon d’Or winner’s move to Al-Ittihad.

    Joselu has joined the club on a season-long loan from Espanyol with a view to a possible permanent deal in 2024, but at 33 years old, the Spain international will not be a long-term option.

  • Venus Williams gets wildcard for Wimbledon

    Venus Williams gets wildcard for Wimbledon

    Eleven-time Wimbledon champion Venus Williams is among the players to have been handed a wild card for the upcoming Grand Slam.

    The 43-year-old – who has won five singles titles and six double crowns at SW19 – has not competed in singles at the tournament since losing in the second round in 2021, but she partnered with Jamie Murray to reach the second round of the mixed doubles last year.

    Since the 2021 edition, Williams has only featured in one of the subsequent seven Grand Slam singles events, earning a wild card for the 2022 US Open but falling to Alison van Uytvanck in round one.
    The American has seldom been seen on the court since, but she made a statement of intent at the Birmingham Classic on Monday with a thrilling three-set win over Camila Giorgi in round one.

    Ahead of her last-16 clash with Jelena Ostapenko, Williams has been announced as one of seven initial wildcards for the women’s singles tournament as she prepares to go for glory in the event for the 24th time.
    Williams was crowned Wimbledon singles champion in 2000, 2001, 2005, 2007 and 2008 – beating her retired sister Serena Williams in the final of the latter competition.

    Read Also: Feminism: Count me out! Declares Venus Williams

    Venus Williams among players handed wild card for Wimbledon
    The Williams sisters also teamed up to seal six doubles titles in 2000, 2002, 2008, 2009, 2012 and 2016, and Venus Williams is one of two non-British wild cards for the women’s singles event.
    Ukraine’s Elina Svitolina – who was absent from last year’s Grand Slam due to her pregnancy – is also on the list as she seeks to better her run to the semi-finals in 2019.

    Since returning from her hiatus, Svitolina enjoyed a memorable run to the quarter-finals of the 2023 French Open, eventually falling to Belarusian second seed Aryna Sabalenka.

    Meanwhile, Katie Boulter has also been given a wild card on the back of winning her first WTA Tour crown in Nottingham last week, beating compatriot and fellow wild card Jodie Burrage in the final.

    Three other Brits in Harriet Dart, Katie Swan and Heather Watson are on the women’s singles wild card lists alongside the Nottingham finalists, while another five home favourites have been handed routes into the men’s tournament.

    Liam Broady, Ryan Peniston, Jan Choinski, Arthur Fery and George Loffhagen have all been given wild cards alongside Belgium’s David Goffin, who lost to Cameron Norrie in five sets during last year’s quarter-finals.

  • An ode to genius 

    An ode to genius 

    For several years, Nigeria has feted and fooled with undeserving celebs. Many a male and female of ill repute has been tooled with renown. Thus the social space pulses with ornamented sap heads in glitter and gold.

    Occasionally, we hear of an individual or two, who asserts his or her right to renown. Society enjoys the emergence of one, two, three or four genii or more, who put up brilliant performances in the humanities, arts, academia, sports, science and tech, to mention a few.

    These are the ones we should really celebrate but the most they get, usually, is half a page of news mention, grudgingly doled out to them by a hesitant press.

    Consequently, we know too little of them. They do not enjoy appreciable renown, like the glitter gang.

    Let this be the moment we choose to acknowledge the finer breed of Nigerianness, like Aminat Imoitesemeh Yusuf, who graduated with a perfect Cumulative Grade Point Average (CGPA) of 5.00 (First Class Honours) from the Lagos State University (LASU)’s Faculty of Law.

    The Vice-Chancellor (VC), Professor Ibiyemi Olatunji-Bello, gladly pronounced Amina as “LASU’s best-graduating student in history.”

    It is indeed fulfilling to acknowledge her emergence as the overall best-graduating student in LASU’s 40-year history. Moved by her achievement, the traditional ruler of Iba Kingdom, Oba Adeshina Suleiman Ashade, the Oniba Ekun of Iba, hosted Yusuf and her parents on Sunday, June 18, to celebrate her exploit.

    The monarch, whose kingdom is one of LASU’s host communities presented Aminat with a cheque of N2 million in the presence of her family, her school’s management and other traditional chiefs.

    According to him, Aminat’s feat was being celebrated to encourage his own children and serve as an inspiration to young people in the kingdom that hard work truly pays.

    The Oniba’s cash gift to Aminat follows the N500,000 awarded to her by the University Management on Wednesday, June 14, being the first of the windfall to greet her extraordinary performance.

    Her parents’ joy was perceptible on their faces. While her mother beamed brilliantly, her father, Ibrahim Yusuf, a multiple award-winning journalist with The Nation, maintained a calm, fulfilled mien.

    Nothing is as gratifying as seeing his graduate daughter manifest with appreciable grandeur that surpasses his at her age; add that to her infectious humility, piety and predilection for excellence, and you have a perfect picture of a well-groomed child.

    If Ibrahim is a pride of the Yusuf clan, his daughter, Aminat, becomes the prodigious heroine whose exceptional feat restyles the paradigm of accomplishment of his lineage.  Aminat, like Poe’s true genius, shuddered at the probability of validating incompleteness via a mediocre performance. Thus she committed to the attainment of excellence in full measure.

    She preferred silent striving to careless tripe and dulled her sense of entitlement to embrace a culture of disciplined enterprise and taqwa as counselled by her Islamic faith. The Arabic word taqwa means “forbearance, fear and abstinence.” It is also explained as “God-consciousness, piety, fear of Allah, love for Allah, and self-restraint.”

    Self-restraint and tact have, so far, served as her shield against the debauchery pervasive of the university campus, larger society and social media.

    It is heartening to see a contemporary Nigerian female manifest with traits and glory worth emulation by her peers and younger ones.

    Read Also: Meet African genius kids

    Amina dared to be the exception in an age teeming with the likes of Anto, a Big Brother Naija (BBN) inmate notable for her twaddle of being a “grown ass woman” who has “f..ked a lot of niggas” but wanted no one to “take it personally” because she and her fellow inmates in the DSTV/Multichoice degenerate show were simply “having a good time.”

    In an age when hordes of young Nigerian (and African) females are wildly corrupted and misled into toxic femininity, Amina affects the wisdom of the ancients, which admonishes moderate assertiveness, progressive consciousness, and a disciplined pursuit of personal goals.

    Swathed in her hijab, she cut a portrait of glowing modesty and respectable grooming. While some may dismiss this as an errant validation of her presumed propriety, testimonials from her tutors and peers erase all doubts about her character.

    This is the kind of youth that our daughters should emulate. Not the degenerate, drug-addicted, sexually perverse, celebrity junkies ‘flexing’ their regressive savvy on both traditional and new media.

    En route to her glory, Aminat flaunted no cleavage. She bared no flesh as a function of her femininity. The only thing nude about her was her assertive decency. Thus we may declare her brand of femininity ennobling.

    As she ventures into the larger society, she must understand that unlike the archaic kore (maiden) whose ample graces are utilitarian, the model Muslimah must stay graciously clothed in her will, perspicacity, propriety and brilliance.

    Her outward and innate beauty should constitute her votive palette from which she aspires to a more splendorous portrait. She must strive heroically shrouded in cultured femininity and uncompromising decency.

    Unlike the confused, contemporary vixen, sculpted through decadence and gobs of imported, reckless awareness, her character must be such that invites the strolling spectator to admire her in her mould.

    She should never seek to be vixen but virtuous; she must never seek to be toxic but humane.

    Right now, stardom falls upon her and shines through her; she must be wary of its flicker lest it torches her modesty. This is neither to secularise her persona nor ritualise it but to identify it as an exemplary bust worthy of emulation by hordes of misguided teens aspiring to become tinsel town’s glitter mob.

    Right now, Aminat is the diva to beat. But she clearly has a long journey ahead of her. If you ask her, she would tell you of her wish to be acknowledged as an accomplished female, attorney, woman, Muslimah.

    Unlike the misguided BBN inmate, she does not intend to “f..k a lot of niggas” or strip and twerk on TikTok for acclaim. Rather, she has set on the path to self-actualisation the old-fashioned way, by dint of passion and honest endeavour.  She would make a tough attorney someday. A successful one, hopefully. 

    Ibrahim Yusuf’s loins has certainly borne no strange fruit. From the bold patina of Aminat’s growth, this is understandable.

    She has certainly grown from the starry-eyed girl, whose admission to LASU’s Faculty of Law elicited indescribable passion from her father, a few years ago. Ibrahim enthused with joy, regaling his colleagues with the promise reposed in his daughter. Thus he worked tirelessly to support her despite his struggles as a journalist. Those struggles have paid off now.

    There is no gainsaying Nigeria teems with uncelebrated genii across various fields of endeavour. Beyond the university campuses, there are many more gems in education, journalism, public health, and law enforcement but society reserves honour for a curious breed, it would seem.

    How easy it was for Lagos Governor, Babajide Sanwo-Olu, to physically show up at celebrity wannabe, Hilda Baci’s contrived and wholly inconsequential cookathon, and ignore a glorious attainment like Aminat Yusuf’s. A terse acknowledgement is never enough.

    And if the state could host winners of BBN’s toxic reality, irrespective of the nature of the publicity stunt, Lagos, the Centre of Excellence could oblige more salutary glance to outstanding citizenry across all fields of endeavour.

  • Tinubu, Surprise Package for Nigerians’

    Tinubu, Surprise Package for Nigerians’

    President Bola Ahmed Tinubu has been described as “God’s gift for Nigeria and Nigerians, brought to do remedies to the wounds and fractures which have reversed the country for many decades.

    Sulaiman Salawudeen, a university teacher, who said this in a chat with journalists in Ado Ekiti, capital of the state, allayed fears that Nigeria has fallen into another bad and insensitive hands with the advent of Tinubu, given the manner of removal of petroleum subsidy. He urged Nigerians to exercise patience with the new administration, even as it has begun to roll out programmes and palliatives for the benefit of citizens and residents.

    The former journalist explained the immediate rise in prices which was attendant upon removal of petroleum subsidy by president Tinubu would soon yield a stability in the price and availability of the product, adding that this would be followed by price stability and availability in respect of other good and services as well.

    Salawudeen said: “The removal of subsidy is clear pointer that President Bola Tinubu is fully in charge of governance and would not dance to anyone’s tune in policy formulation, design or implementation. No government in the past has been able to do it because of their fear of the so-called oil cabal. The president removed it because with him, no cabal is stronger than the collective good of entire Nigerians.

    “By that same token, Tinubu has proven he would not consider any cabal or pander to whatever sectional interest in his governance of the country. As a former governor of the most economically successful state in Nigeria, he is aware of the basic direction towards which the country should be driven and how to bring genuine and lasting prosperity about”, Salawudeen said.

    He added that President Tinubu has quite many other revolutionary programmes and palliatives in place for diverse segments and sections of Nigerians, noting the president has recently signed the Student Loan Bill into law, which means Nigerian students can access interest-free loans to pursue their education at any level.

    The speed with which this piece of legislation came to existence itself is surprising according to to the university teacher, clarifying that it just passed second reading at the House of Representatives on May 25, 2023. “This is just about two weeks ago or thereabouts”, he noted.

    Read Also: What I told President Tinubu during my visit, by Bill Gates

    As further step to be taken by federal government to lessen hardships for Nigerians, Salawudeen suggested government should set up price stability and commodities standardisation boards, noting this would help in jumpstarting the country’s economic prosperity.

    Said he: “Tinubu must ensure that Federal Commodity Board must be set up to ensure that prices of products are regulated and to ensure standardisation, and that defaulters in this regard are brought to justice without fear or favour, let or hindrance.”

    Asked if he would accept an appointment from the administration, the former journalist maintained: “Yes, if given an appointment, I will not reject it, but it is an error for anyone who feels he has supported the new president one way or another during campaigns to think the only way to be compensated is via federal appointment. This is wrong. I have written newspaper articles to support Tinubu and even openly campaigned for him before the elections, but quite many people did same or similar things, even far better than I did.

    “It will therefore be wrong to insist that the only way to reward me must be by being appointed. Is it possible for Tinubu to empty all his supporters across media and politics into his cabinet? This is not possible,” Salawudeen said.

    Concerning corruption, he explained that the president knows his onions and how best to tackle same, insisting it would be wrong for anyone to think federal government must follow certain steps in resolving the hydra-headed malaise.

    He said: “Corruption has been critical part of what has brought the country to it’s knees in many areas of life, especially in the area of economy. No country grows with such level and quantum of corruption. But to imagine that the new president and his government is not prepared to confront that evil is a dangerous presumption. Tinubu knows quite well what it is and what his administration has to rein in the malaise. But it will be proper to exercise some patience while awaiting needed measures in the regard,” Salawudeen said.

  • Ogun urges workers to embrace health insurance

    Ogun urges workers to embrace health insurance

    Ogun State government has urged its workers to embrace the health insurance scheme introduced by the present administration because it has lots of benefits to support their health needs.

    Secretary to the State Government Tokunbo Talabi spoke when he opened the 2023 Public Service Week celebration, which started with “Know Your Health Status”, held at the Arcade Ground in Oke-Mosan, Abeokuta.

    Talabi, while appreciating the workers for their support, said the Dapo Abiodun-led administration was looking into other issues affecting them, calling on the workers to take cognisance of their health.

    Read Also: Oluomo re-elected Speaker Ogun House of Assembly

    He said: “Many of us take so many things for granted. I want to share the health insurance scheme with you and the labour leaders have assured us to meet with the agency in charge of the scheme to iron things out when this is done, I want to implore the workers to key into it because the scheme has lots of benefits.”

    The Head of Service, Kolawole Fagbohun, praised the governor for his commitment to the welfare of workers and for providing resources to organise the programme. He described the programme as important to help civil servants understand how to manage their health, especially for those who do not know.

  • Eko Rice enters market, sells for N33,000

    Eko Rice enters market, sells for N33,000

    • LCFE to trade on N5b forward contracts

    Eko Rice, produced from the Lagos State-owned 32-metric tonnes per hour Imota Rice Mill in Ikorodu, is now available in the markets at N33,000 per 50kg bag.

    The Eko Rice also made history as the first of such commodity to be listed and traded on a commodity exchange with its listing on the Lagos Commodities and Futures Exchange (LCFE).

    The formal launch of N5 billion Eko Rice Forward Contract Programme by Governor Babajide Sanwo-Olu on the floor of the LCFE in Lagos marked a significant step in the state government’s efforts to promote agriculture and enhance food security in Lagos.

    The forward contract, a joint initiative of the government-owned Lagos State Rice Company (LASRICO) and Commodities Tradenet Limited, is the first series of N30 billion Private Commodity Notes Issuance Programme facilitated by Lagos State Government to ensure undisrupted paddy supply, enhance quality management, transaction efficiency and transparency.

    The forward contract for Eko Rice became the first to be listed and traded in Nigeria’s commodities exchange ecosystem. The private listing of the Lagos rice excited commodity brokers, farmers and investors in the commodities market, as first 5,000 contracts issued on the exchange floor were traded at the value of N195 million.

    The offer for 50kg of Eko Rice had opened on June 13 at the rate of N33,000 per Note, with the commodity expected to be traded till Monday, June 26, 2023. Tenor of the Note is 60 days.

    Sanwo-Olu said the Eko Rice Contract Programme was a game-changer aimed at making Lagos a hub for agricultural production and processing in the country.

    He said rice is a regular staple consumed by over 80 per cent of Lagos population, noting that the forward contract was key part of the government’s food security plan to guarantee availability of the commodity at affordable price.

    “The N5 billion Series of N30 billion Eko Rice Contracts Programme being launched today is part of our efforts to ensure a sustainable supply of rice paddy for the smooth running of Lagos Rice Mill in Imota. The exchange market is a public-private partnership programme that will provide a platform for farmers, processors, and traders to buy and sell rice contracts at a fair price.

    “The programme will also provide a guarantee for the quality and quantity of rice produced, which will enhance the confidence of buyers and sellers in the market. Leveraging the Lagos Commodities and Futures Exchange is a critical component of our plan to create a transparent and efficient market for the trading of agricultural commodities and derivatives. The Exchange has the potential to transform the agriculture sector by providing a reliable and efficient market for farmers, processors, and traders,” Sanwo-Olu said.

    He pointed out that in order to ensure that the supply chain is not disrupted, Sanwo-Olu said the state government embarked on the development of rice value chain through capacity building for farmers, and provision of inputs and infrastructure in rice production centres across Lagos.

    He said that the government has scaled up local paddy production by 63.5 per cent, while creating over 2,620 direct and indirect jobs.

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    Sanwo-Olu added that the intervention had also stimulated economic activities and facilitated improved livelihood in rice producing communities.

    He said the Lagos-owned Imota Rice Mill required 200,000 tonnes of paddy yearly, stressing that the commodities exchange would create a steady market for the 2.5 million bags of 50kg rice that would be turned out from the mill annually.

    “Today’s bell ringing is to herald the listing of rice paddy contracts for the Lagos Rice Mill, Imota for open transactions. This highlights the opportunities available in rice processing and other value chains of the Lagos Agricultural sector. It will draw attention of local and foreign investors to the Lagos Rice Mill forwards contract, and project the role of the Capital Market in driving development in Lagos commodities ecosystem. We are committed to expanding the programme to cover other commodities, such as cassava, maize, and vegetables,” Sanwo-Olu said.

    Managing Director, Lagos Commodities and Futures Exchange (LCFE), Mr. Akin Akeredolu-Ale, said rice was among the 13 crops approved by Securities and Exchange Commission (SEC) for trading at the commodities exchange market, stressing that the listing of Eko Rice was a watershed moment in the capital market.

    Akeredolu-Ale said collaboration with the Lagos State Government would drive paddy supply to the Imota Rice Mill, integrate stakeholders in rice value chain across the country and standardise of head rice and paddy rice in Lagos.

    “LCFE will provide an opportunity for investment in the rice value chain through the creation, onboarding and listing of commodities instruments for paddy aggregation and trading, while also providing opportunities for rice distributors and stakeholders to trade on the Exchange through capital market operators. There is no credit risk associated with the issuer of the Notes, as the underlying commodity assures return on investment,” Akeredolu-Ale said.

    Chairman, Lagos Commodity and Futures Exchange (LCFE), Chief Onyenwechukwu Ezeagu, said the partnership with the Lagos government complemented the objectives of the Exchange in transforming the commodities market by redefining practice norms and catalysing economic growth in the country.

    Commodity brokers said the encouraging performance recorded by Eko Rice at first trading in the commodities exchange was due to its well-cleaned grains and high-grade texture, which positioned the crop for fair competition with imported rice in the market.

    Eko Rice is laboratory-tested to have less than 2 per cent impurity and 14 per cent moisture content.

    The Governor was joined by his deputy, Dr. Obafemi Hamzat, and other top government functionaries at the opening bell ringing ceremony.

    Johnvents Industries Limited, an agro-processing firm, became the first investor to procure 5,000 forward contracts worth N195 million at the Exchange.