The Nation Newspaper

Author: The Nation

  • Sanwo-Olu hailed for supporting ailing Henry Nwosu

    Sanwo-Olu hailed for supporting ailing Henry Nwosu

    President of St. Finbarr’s College Old Boys Association Patrick Doyle has praised Lagos State Governor Babajide Sanwo-Olu for coming to the aid of ailing former Green Eagles captain Henry Nwosu.

    Doyle, who facilitated the support for Nwosu said the governor displayed the ethos of a passionate leader.

    Narrating how he facilitated the support, Doyle said: “So you can imagine my consternation when at a moment of despair as president of the St. Finbarr’s College Old Boys Association, I had the onerous responsibility of saving the life of a legendary old boy of Finbarr’s, Henry Nwosu whose health was gravely challenged. I came across the old complimentary card Sanwo-Olu gave me some 20 years previously, and out of a whim I sent an SMS requesting assistance on Henry’s behalf less than five hours later, a positive response came and today Henry is hale and hearty, courtesy of this totally detribalized man.

    “Neither Henry nor myself are Yoruba; I am Itsekiri, and Henry is Igbo, but the one thing we have in common apart from being Finbarrians is that we were both “Surulere Boys”. The bond of “Surulere Boys” transcends tribe and religion.

    “We are bound together by the accommodating spirit that pervades every nook and cranny of Lagos. I believe this is what inspired Babajide to rally to the rescue of an “Igbo Lagosian” at the request of a “Waffi Lagosian” with such speed and alacrity. This is the Lagos I know and have come to love, this is the Lagos I urge us to vote for come the 11th of March,” he added.

    It would be recalled that the Lagos State Government supported Nwosu during his ailment with proper medical support.

  • Heskey backs Iheanacho to regain scoring Foxes’ form

    Heskey backs Iheanacho to regain scoring Foxes’ form

    Despite his profligacy in Leicester City’s 1-0 loss to Southampton, former England international Emile Heskey has backed Kelechi Iheanacho to regain his scoring form after the unfortunate defeat.

    Heskey said Iheanacho would reciprocate his costly misses against Southampton with more goals for Leicester.

    Iheanacho put two headers wide and a further chance over the bar as the Foxes lost 1-0 to the team at the bottom of the Premier League.

    Speaking on Sky Sports, Heskey said: “We created a few chances today. With a bit more composure and being a bit more clinical, Kelechi could’ve had a couple of goals today. That gives you a little bit of confidence. They’ve got to keep going, they’ve got to have belief because you can lose that belief very quickly when you’re down there. Winning is a habit but so is losing.”

    “He’s got three goals in six (league) games, plus three assists as well, so he’s not doing too bad and creating chances. I just think today was just an off day for him, especially the one where he bends it with his left foot, they usually go in the back of the net and today just wasn’t a good day for him.”

    The defeat leaves Leicester 15th in the table, three points above the relegation zone.

    Meanwhile, Gary Lineker and Ian Wright were dumbfounded by Iheanacho’s misses on Match of the Day with Harry Souttar also planting a header against the crossbar.

    “Leicester only had themselves to blame. So profligate in front of goal,” Lineker said.

    Wright went into further detail on the missed chances, saying he could not be a manager if players missed such clear chances in his team.

    “You can’t miss the chances I saw today. This header, I don’t know what to say. It’s such a poor header. For the next one, just head back where it came from,” he said.

    “This one, along the ground, curl it into the goalkeeper’s right corner. The last one from Maddison’s cross – he was brilliant today – I couldn’t be a manager seeing (a miss like) that (from Souttar). I don’t know how Brendan can be so calm in his interview.

    “For you to miss chances like that, you deserve to lose games.”

  • U-20 AAAFCON: The Gambia coach warns Flying Eagles

    U-20 AAAFCON: The Gambia coach warns Flying Eagles

    Gambia coach Abdoulie Bojang said  their U-20 Africa Cup of Nations semi-final against Nigeria will be a tactical battle.

    The Young Scorpions boss was speaking ahead of today’s last four match at the Cairo International Stadium.

    The Gambia hammered South Sudan 5-0 to reach the semifinals while Nigeria needed an own goal by Ibrahim Juma to edge Uganda 1-0 at the Suez Canal Authority Stadium.

    “It is going to be a tactical battle,” Bojang, who was named the Best Coach of the group stage, said.”We will respect them and put up a respectable performance on the pitch tomorrow.

    “Like I always said football is beyond what is on paper. You can get all the records but what I believe is what can we produce during the 90 minutes of play.”

    This will be the first meeting between the two sides in 16 years when Nigeria beat The Young Scorpions in Brazzaville to qualify for the final.

    “Nigeria is the only team standing between us and the final. We want to be champions and that can only happen when we beat a champion,” Bojang said.”We are a committed team but we must do everything we can to win and reach the final.”

    Hat-trick hero in the quarter-finals against South Sudan Adama Bojang said  he was happy to be among the goals.

    “We are preparing strongly and scoring goals is very important,” said the Steve Biko forward.”I’m very happy to score many goals and contribute to helping the team reach this stage.

    “During the qualifying tournament in Mauritania, I only played two matches, so I could not express myself.

    “In this tournament the situation is different and I am trying hard to show my true level.”

  • Egypt 2023: Bosso wary of stubborn The JuniorScorpions

    Egypt 2023: Bosso wary of stubborn The JuniorScorpions

    • Libyan referee to determine Nigeria, The Gambia fate

    Flying Eagles  Coach Ladan Bosso is not fazed by the credentials of The Gambia  as the two West Africans face off  in this  evening’s Africa U20 Cup of Nations semi-final clash  at the Cairo International Stadium.

    The Gambia dismantled South Sudan 5-0 at the Harass El Hedood Stadium in Alexandria to pick one of Africa’s tickets to the FIFA U20 World Cup finals in Indonesia, and is one of only two teams to have won all their matches at the 17th  Africa U20 Cup of Nations ongoing in Egypt.

    But Bosso  would rather focus on the strength of his own team and its capacity to upturn the apple cart at the familiar Cairo International Stadium.

     “Previous results will not determine what happens in our semi-final match against The Gambia,” Bosso said.“ They have been in great form and my boys have also recovered well and are in their elements. It will be a great match but I believe in my team and we are confident of playing in the Final on Saturday.”

    In their four matches so far at the tournament, the Flying Eagles have won three matches and lost one, and have scored four goals and conceded one. On their part, the Young Scorpions have scored a total of nine goals, conceding none.

    The Scorpions have played all their matches at the Harass El Hedood Stadium in Alexandria, while the Flying Eagles have felt the turfs of both the Cairo International Stadium and the Suez Canal Authority Stadium.

    Meanwhile, the Confederation of African Football has appointed Libyan official Abdulrazg Ahmed as referee for this   crucial encounter  even as Hamza Bouzit, who is from Algeria will be the assistant referee 1, while Nigerien official Abdoul Moctar Saley and Jalal Jayed from Morocco will serve as assistant referee 2 and fourth official respectively.

    Boutane Said from Comoros will be in the role of match commissioner and Imade El Fahouss from Morocco will be general coordinator.

    Ahmed was fourth official when the Flying Eagles defeated Uganda in Thursday’s quarter-final at the Suez Canal Authority Stadium, and Jayed was also involved when the seven-time champions knocked Mozambique 2-0 at the same venue on Saturday, 25th February.

    ROAD TO THE SEMI-FINAL

    NIGERIA: Group A

    Senegal I Nigeria 0

    Nigeria 1 Egypt 0

    Mozambique 0 Nigeria 2

    Quarter Final

    Uganda 0 Nigeria 1

    THE GAMBIA: Group C

    The Gambia I Tunisia 0

    Zambia 0 The Gambia 2

    The Gambia 1 Benin Republic 0

    Quarter Final

    The Gambia 5 South Sudan 0

  • Fed Govt targets $1.1b from maritime concessions

    Fed Govt targets $1.1b from maritime concessions

    The Federal Government is targeting over $1.1 billion from concessioned projects to be executed by the Nigerian Maritime Administration and Safety Agency (NIMASA).

    The projects will be under the  guidance of the Infrastructure Concession regulatory Commission (ICRC), and they are expected to generate about $1.110 billion to the Federal Government’s coffer during their 10-year concession.

    The projects are: the Eastern Offshore Waste Reception Facility, CentraL/Western Offshore Waste Reception Facility and a Floating Dry Dock. Full Business Case (FBC) Certificate of Compliance have been issued by the ICRC.

    The Nation learnt that the Federal Government Executive (FEC) has approved a Public-Private Partnership (PPP) project in Ikeja, Lagos, for the Federal Radio Corporation of Nigeria (FRCN) to develop a commercial mixed-use complex that will comprise houses, hotels, recreational facilities as well as office complex.

    The FRCN PPP project was approved for a period of 55 years with expected revenue put at N14.9 billion while the concessionaire is Fish Valley Investment and Property Limited.

    In the case of the NIMASA projects, the Eastern OWRF will be executed using the Design, Finance, Build, Operate, Maintain and Transfer (DFBOMT) PPP model. XPO Marine Services Limited has been appointed as the concessionaire for an initial period of 10 years.

    “The projected total revenue from Eastern OWRF for the entire concession period due to the Federal Government based on revenue sharing ratios is US$279,487,228.35”, a staff member of the ICRCsaid.

    He also said: “The projected total revenue for the entire concession period from the Central and Western zones due to Federal Government based on the revenue sharing ratios is US$765,289,988.”

    The concessionaire for the Central and Western OWRF is African Circle Pollution Waste Management Limited and the concession period is also 10 years.

    The Federal Government has equally approved a management contract to OMT for the Floating Dry Dock (FDD) of NIMASA. The  FDD is for the repair of cabotage vessels.

     “The concessionaire, J. Marine Logistics Limited, is to manage the Modular/Floating Dry Dock for 15 years,” The Nation was told.

    Total revenue accruing to NIMASA for the 15 years’ concession for the FDD is $65,607,171 (N27,226,975,965). When fully implemented, the project is expected to create over 800 direct and indirect jobs.

     “Beyond revenue generation, the project is also expected to create jobs, develop capacity and provide maintenance facilities for ships and boats” the ICRC staff member said.

    The Director- General, ICRC, Michael Ohiani, while issuing OWRF projects had earlier said the move demonstrates the commitment of President Muhammadu Buhari’s administration to the environmental well-being of coastal communities as well as offshore fishermen.

    When operational, the two OWRF would create standard facilities for use in Nigeria’s international waters in compliance with the International Convention for the Prevention of Pollution from Ships (MARPOL) 1973/1978.

    The goal of the proposed partnership is to protect the offshore environment, provide a deterrent for offshore polluters from a surveillance point of view and reduce the current level of pollution to the benefit of offshore fishermen and coastal communities.

    The OWRF projects will essentially help keep the seas and oceans clean. Each Facility when completed, would be adequate to fully meet the needs of ships and other installations regularly using the facilities; contribute to the improvement of the marine environment; allow for the ultimate disposal discharge of wastes from ships and other installations in an environmentally friendly way.

  • Stock market nets N316b gain in post-election rally

    Stock market nets N316b gain in post-election rally

    • Turnover rises by 139%

    Nigerian equities closed weekend with net capital gain of N316 billion as investors remained upbeat after Africa’s largest democracy conducted national elections.

    All major indices at the stock market indicated a bullish trend, with a mix of appreciable corporate earnings and impending political transition driving the market to new thresholds.

    Benchmark price indices closed weekend with average return of 1.06 per cent, equivalent to net capital gains of N316 billion. The continuing rally nudged the average year-to-date return for Nigerian equities to 8.35 per cent, one of the highest returns globally.

    With nearly three advancers for every decliner, the overall market trend overshadowed profit-taking transactions that sought to monetise accrued capital gains and realign investment portfolios.

    The All Share Index (ASI) – the value-based common index that tracks all share prices at the Nigerian Exchange (NGX) crossed the 55,000 threshold to close weekend at 55,529.21 points as against its week’s opening index of 54,949.21 points.

    Aggregate market value of all quoted equities rose correspondingly and crossed the N30 trillion mark to close weekend at N30.250 trillion compared with the week’s opening value of N29.934 trillion.

    Nigeria held its presidential and National Assembly elections on  February 25. The Independent National Electoral Commission (INEC) last Wednesday, March 1 declared Asiwaju Bola Tinubu as the winner of the presidential election.

    Tinubu, a former Treasurer of the oil multinational, Mobil Oil and a globally renowned accountant, is reputed for public finance reengineering. His ingenuity and reforms reshaped Nigeria’s former capital, Lagos, as Africa’s fifth largest economy and one of the continent’s investment hub.

    Under his political leadership, Lagos has remained the largest sub-national issuer at the capital market, with high-grade ratings by domestic and global rating agencies.

    Most analysts remained optimistic on the outlook for the Nigerian equities, despite the tendency for investors to monetise accrued capital gains of more than N2 trillion. 

    Analysts at Afrinvest Securities said they expected “the market to sustain its bullish momentum due to the improvement in investor sentiment”.

    Analysts at Cordros Securities said they expected “investors to continue to rotate their portfolios toward stocks of companies that delivered decent earnings’’.

    “Thus, we see scope for the bulls to maintain dominance, though the magnitude of the gains will be lower, as profit takers are likely to book profits across bellwether stocks. Notwithstanding, we opine that investors should seek trading opportunities in fundamentally sound stocks as the weak macroeconomic environment remains a significant headwind to corporate earnings,” Cordros Securities stated at the weekend.

    The performance of the market ranked within highest returns at the global stock market, combining with China to put the frontier and emerging markets on bright spots. The MSCI FM Index, which tracks frontier markets, rose by 1.8 per cent on the back of gains by China, which rose by 1.9 per cent, The MSCI EM Index- which tracks emerging markets, also closed positive with average return of 2.5 per cent. The STOXX Europe- which tracks the broad European market, posted average gain of 0.5 per cent.

    The global stock market was largely positive as the earnings season and global monetary situation eased investors’ worries about potential disruptions. In United States, the Dow Jones Industrial Average and S & P 500 appreciated by 0.6 per cent and 0.3 per cent respectively. United Kingdom’s FTSE 100 Index rose by 0.8 per cent while Japan’s Nikkei 225 Index posted average gain of 1.7 per cent.

    The momentum of activities at the market improved considerably with total turnover rising by 139 per cent to 1.91 billion shares worth N18.436 billion in 20,311 deals last week compared with a total of 799.848 million shares valued at N29.354 billion traded in 14,194 deals two weeks ago. With major transactions on Chams Holdings Plc, the information and communication technology (ICT) sector topped the activity chart with 601.396 million shares valued at N2.676 billion in 1,607 deals; thus contributing 31.49 per cent and 14.52 per cent to the total equity turnover volume and value respectively. The financial services sector followed with 585.510 million shares worth N6.949 billion in 8,584 deals while the services sector placed third with a turnover of 349.215 million shares worth N2.402 billion in 512 deals.

    The three most active stocks were – Chams Holding Company Plc, Capital Hotels Plc and Transnational Corporation Plc. They accounted for 1.038 billion shares worth N2.621 billion in 769 deals, contributing 54.33 per cent and 14.22 per cent to the total equity turnover volume and value.

    Also, turnover at the exchange traded products (ETP) segment of the market rose to 30,547 units valued at N7.299 million in 50 deals compared with 5,760 units valued at N1.160 million traded in 40 deals two weeks ago. At the bond segment, a total of 39,151 units valued at N37.062 million were traded in 17 deals compared with a total of 54,323 units valued at N54.379 million swapped in nine deals penultimate week.

    Further pricing trend analysis showed widespread bullish sentiments across the sectors. With the exception of the NGX Oil and Gas Index, which dropped by 2.36 per cent; all sectoral indices closed on the upside. The NGX 30 Index, which tracks the 30 largest stocks at the market, rose by 0.54 per cent.

    The NGX Banking Index, the most influential sector, rallied by 1.16 per cent. The NGX Consumer Goods Index led the rally with 5.65 per cent.The NGX Insurance Index rose by 0.92 per cent while the NGX Industrial Goods Index appreciated by 1.40 per cent. The NGX Pension Index- which tracks stocks that meet the guidelines for investment of pension funds, posted average gain of 0.86 per cent while the NGX Lotus Islamic Index, which tracks stocks that meet Islamic finance rules, appreciated by 1.58 per cent.

    There were 53 gainers to 21 losers last week compared with 39 gainers and 22 losers recorded in the previous week. Geregu Power Plc led the rally, in percentage terms, with a gain of 70 per cent to close at N325. C & I LEASING followed with a gain of 20.61 per cent to close at N3.98 per share. McNichols rose by 19.70 per cent to close at 79 kobo. SUNU Assurances Nigeria appreciated by 18.92 per cent to close at 44 kobo while Stanbic IBTC Holdings rose by 18.34 per cent to close at N41 per share. On the negative side, Chams Holdings Company led with a drop of 10.71 per cent to close at 25 kobo. Multiverse Mining and Exploration followed with a loss of 10 per cent to close at N3.96. John Holt dropped by 9.66 per cent to close at N1.59. Seplat Energy declined by 9.43 per cent to close at N1,200 while Ecobank Transnational Incorporated dropped by 7.69 per cent to close at N12 per share.

  • Call to high positions is for service to God, people, says Osinbajo

    Call to high positions is for service to God, people, says Osinbajo

    • VP attends enthronement of Methodist Archbishop

    Vice President Yemi Osinbajo yesterday said appointment to an important position is not meant to be celebrated but should be seen as a call to service to God and the people.

    Osinbajo said this in Abuja where he was the special guest of honour at the enthronement service of the new Methodist Archbishop of Abuja, the Most Revd. (Dr.) Michael Akinwale, at the Methodist Cathedral of Unity in the Federal Capital Territory (FCT).

    A statement by the Senior Special Assistant to the President on Media and Publicity in the Office of the Vice President, Mr. Laolu Akande, said the church service also featured the presentation of Sir (AVM) Kayode Beckley (retd.) as the new Methodist Church Diocesan and Archdiocesan Lay President.

    “Indeed, the office means that your voice must be heard and your leadership seen where there is injustice, deprivation or lack,” Osinbajo said addressing the new Archbishop.

    He added: “The high call of service to the gospel of Christ is a ministry to all, whether they be amongst the membership of the Methodist Church or even those of other denominations and beliefs.”

    Congratulating the new Archbishop of Abuja, the Vice President praised him for his many decades of service to the church, stressing that his enthronement was “an affirmation of your lifetime devotion to God and continuous good work in His vineyard”.

    Osinbajo added: “As his Eminence, the Prelate of the Methodist Church Nigeria sat your grace on the throne, I knew that you were not blinded by the pomp and pageantry of this great occasion, but that you see this as a call to the service of God and man, a great responsibility in our country and world.”

    Commenting on the place of service and honour for religious leaders, Osinbajo said: “Indeed, as Apostle Paul recommended in 1Timothy 5:17: ‘the elders who direct the affairs of the church well are worthy of double honour, especially those whose work is preaching and teaching’.”

    The Vice President noted that Archbishop Akinwale’s elevation to his new position was in recognition of his exceptional spiritual and administrative service as the Secretary of the Conference from 2016 to 2022.

    “It is also a celebration of the journey of consecration you commenced 39 years ago in December 1984 as a Cadet Minister in the Methodist Church,” he said.

    Osinbajo recalled that the new Methodist Archbishop of the Abuja Diocese was also a former Synod Secretary of the Diocese, Archdiocesan Secretary, and was elected the third Bishop of the Diocese of Badagry in Lagos State.

    According to him, Archbishop Akinwale, over the years and decades, “has stuck to the core duty of every Christian, which is the propagation of the Gospel of Jesus Christ by the creation and adoption of evangelism opportunities”.

    The Vice President also congratulated the new Methodist Archdiocesan Lay President of Abuja, Sir Kayode Beckley, and acknowledged the Prelate of the Methodist Church Nigeria, Dr. Oliver Ali Aba, JP, as well as all their eminences at the ceremony.

  • Gumi’s mum dies at 84

    Gumi’s mum dies at 84

    Kaduna-based Islamic scholar and cleric, Sheikh Ahmad Gumi, yesterday announced the death of his mother, Hajia Aishatu-Dammu Gumi.

    She was 84.

    The mother of the renowned Islamic preacher and scholar died at the Federal Medical Centre (FMC) in Abuja.

    It was gathered that the elderly woman died around 5.30 p.m and preparations were in top gear to bury her today at Unguwar Sarki Muslim Cemetery in Kaduna.

    In a statement on his verified Facebook page, Gumi said: “Inna lillahi Wa inna ilaihi rajiun (From Allah did we come and Him shall we return). Today (Sunday) at 5.30 p.m, with a sad heart, I announce the death of my dear mother.

    “Please, seek for her Allah’s forgiveness and mercy.

    “Her last words to me two weeks ago: ‘In shaa Allah, Allah will put her and her children and grandchildren together in Jannah.’ (By the special grace of God, God will put her and her children and grandchildren together in Paradise).

  • Farmers plan to repeat Tinubu’s victory at the governorship/Assembly polls

    Farmers plan to repeat Tinubu’s victory at the governorship/Assembly polls

    Elated by the February 25 victory of President-elect Bola Ahmed Tinubu at the polls, Nigerian farmers are set to ensure victory for all the 29 governorship and house of assembly candidates of the ruling All Progressives Congress (APC) on Saturday.

    They also expressed their readiness for the incoming agriculture revolution the former Lagos State governor promised farmers in his ‘Renewed Hope’ manifesto. Zonal Coordinator (Northwest) of the Agro Commodities Directorate of the APC presidential campaign council, Dr. Bello Abubakar, announced this at the weekend when congratulating the President-elect and Vice President-elect Kashim Shettima.

    Abubakar said: “We urge all farmers to come out en mass for the governorship and House of Assembly elections expected to hold on March 11, 2023, and vote massively for APC candidates in the elections across the country.”

    He stressed that “every farmer’s vote is important and farmers must deliver, just as we delivered the President-elect and his running mate”.

    Congratulating the President-elect for his victory at the polls, Abubakar noted that the focus of the APC candidate on agriculture during his campaign was the motivating factor that spurred farmers in their millions to vote massively for him.

    He said: “Their focus on agriculture from day one has encouraged and mobilised farmers in their millions to vote for the ticket and we are pleased we won decisively. We are ready for the incoming ‘Agbado and Cassava’ revolution that he promised in the Agricultural Revolution. The greatness of this country lies in the farm fields of rural Nigeria.

    “We, in the directorate, also wish to extend sincere gratitude to other Nigerian farmers for coming out en mass to vote for the Tinubu/Shettima ticket based on their belief that the renewed hope manifesto is a clear pathway to peace, unity and sustainable development of Nigeria.

    “We pray that the farmer’s mandate will never be truncated or stolen. Let us be clear: the mandate is a trust to them based on their proven records in Lagos and Borno states and their excellent administrative prowess over the years as well as sustained nationalism.”

  • Electoral Act improved conduct of presidential poll, says observer group

    Electoral Act improved conduct of presidential poll, says observer group

    An accredited observer group, Integrity Friends for Truth and Peace Initiative (TIFPI), has lauded the impact of the new Electoral Act on the ongoing conduct of the general election.

    It said the provisions of the Act improved the conduct of the just-concluded presidential poll.

    In a report at the weekend by its Executive Director, Livingston Wechie, the group described the presidential election as a strong show of citizenship’s patriotism and evidence that the people were eager to determine their future without compromise.

    The report says: “TIFPI views that the election today has proven that the Electoral Act, as amended, was indeed an idea whose time has come amidst the controversies and contradictions that characterised it.

    “This can be seen in the nonsense the electronic deployment made of the usual violence in Nigeria’s electioneering today. By implication, the use of violence became an outdated strategy because stealing of ballot boxes had no chance of influencing the genuine electronic outcomes.

    “It can be said in a best description that the amended Electoral Act is a watershed to Nigeria’s electro-political development because it has substantially demystified the much talked about sophistication of a shenanigans and rogue political class by making them totally dependent on the voters.”

    TIFPI said it observed that cases of violence across the country were in isolated proportions, adding that the battleground states, such as Rivers, Imo, Lagos, Kaduna, Kano and Katsina where violence was projected to mar the election, was largely otherwise.

    The INEC-accredited observer group added: “We observed that INEC improved to capacity of its ad hoc workers in keeping with the innovation in the amended Electoral Act.

    “We must commend the election management body for swinging into action to ensure that its torched offices and destroyed electronic devices were restored in parts of the country for the sole aim of actualising its mandate and humiliating anti-democratic forces.”

    But the group condemned lack of adequate logistics support by INEC, recalling that collation officers were stranded in Plateau State as INEC headquarters in the state failed to provide transportation to the various local government areas in the February 25 polls.