Author: The Nation

  • Washington Post rates polls high in spite of hitches

    Washington Post rates polls high in spite of hitches

    Nigeria is pointing the way toward democracy for other African countries with its just-concluded presidential elections, The Washington Post said yesterday.

    The 146-year-old American print media giant said despite challenges, Nigeria can, through the election and its aftermath, set a standard for its West African neighbours. 

    Washington Post, one of the most respected daily newspapers in the world, reflected on the election in its editorial titled: “Nigeria points the way toward democracy in a region in which it is scarce.”

    It said: “It  might be tempting for opponents of democratic governance to take Nigeria as a case study in why democracy can’t work in Africa. Actually, the opposite is true. In Nigeria, even with its chaotic and flawed process, the system has held and is holding — far better, so far, than might have been expected.

    “True, Nigeria’s presidential election, on February 25, was a messy affair. Some polling places didn’t open on time. A new electronic voting system to upload results from the 176,000 scattered polling places to a central website seemed to collapse. There were reports of scattered violence in a few places, with ballot boxes stolen at gunpoint. Turnout was disappointing, at 28.6 percent.

    “The candidate of the current ruling party, Bola Tinubu, was declared the winner with 36 percent of the vote on March 1. But because of the problems, the result is being challenged by his two closest rivals, Atiku Abubakar, who won 29 percent and Peter Obi, who got 25 percent. Mr. Abubakar, Mr. Obi and their supporters claim the election chaos means the voting was rigged in favour of the ruling party, but they have yet to produce concrete evidence of malfeasance. They are demanding the election be rerun.”

    The paper argued that the occurrence of challenges “doesn’t mean the vote should be discounted. In fact, much good came from it.”

    It described as “encouraging”, that the losing candidates are pursuing their claims through the courts. 

    They have until March 31 to present their petitions to the appeals court tribunal, which would be expected to issue a written decision within 180 days. 

    The paper noted that “while the rhetoric has been heated, remarkably, there have been no reports of post-election violence, intimidation or threats. No one has blocked highways, as happened in Brazil after Jair Bolsonaro lost his re-election bid. Opposition party supporters have not attempted an insurrection.

    “Second, Nigeria’s military has stayed out of the fray. This was not a given, since Nigeria’s Generals ruled the country after a series of coups for most of the 1980s and ’90s. 

    “In Africa and elsewhere, a supposedly flawed election has been a handy excuse for militaries to annul election results and seize power for themselves. 

    “It happened in Myanmar in early 2021, for example, despite no evidence of any fraud. If Nigeria’s Generals remain on the sidelines this time, it could be taken as evidence that Africa’s most populous country, and its largest economy, has moved past its coup-prone history.”

    The Washington Post noted further that this proved to be the country’s most competitive election since democracy was restored in 1999. 

    It said: “Each of the three top candidates — Mr. Tinubu, Mr. Abubakar and Mr. Obi — won 12 of the country’s 36 states, a surprisingly even split. And Mr. Obi, who was projected to win in some polls, could claim a stunning victory in Lagos State, Mr. Tinubu’s home turf. 

    “Mr. Obi’s campaign was powered by young, better-educated urban voters savvy with social media, but he was unable to make inroads in more rural and traditional areas. But at 61, he is nearly a decade younger than Mr. Tinubu, 70, and can be expected to be in politics for years to come.

    “Nigeria’s neighbors and its major trading partners, including the United States, have all accepted the result, which most international observers said was largely free and fair, despite problems.”

    It advised the President-elect to brace up for the expected challenges

    The Washington Post said: “But a delicate period lies ahead. If President-elect Tinubu is eventually confirmed as the winner, he will need Nigerians to fully accept that he was the legitimate victor. This means the losing candidates should have their day in court and be able to present any evidence that election-day problems affected the final result.

    “Officials have asserted that technical glitches, not sabotage, were the issue and have cited poor internet connections and heavy traffic that slowed the system. But to restore trust, they need to demonstrate this with transparency. All election day irregularities need to be thoroughly examined. 

    “And the country’s Independent National Electoral Commission needs to assess what went wrong and fix it. A round of elections on Saturday for 28 governorships and state assemblies seemed to be much better managed and passed without major snafus, despite some scattered reports of violence.

    “Even a flawed election in Nigeria can set a standard in a part of Africa where staging a coup is more common than canvassing for votes. Among Nigeria’s neighbors, Chad’s military leader, Mahamat Idriss Déby, who seized power when his father was killed in 2021, has repeatedly delayed elections and halted a return to democracy. Military leaders in Mali, which saw coups in 2020 and 2021, have delayed elections until 2024. Guinea’s first democratic leader was toppled in 2021. Niger has been rocked by coup attempts. Benin’s president, Patrice Talon, has clung to power and stacked the parliament, which must approve presidential candidates, with his supporters. In Cameroon, President Paul Biya has ruled since 1982.

    “An election in Nigeria won’t turn Africa into a democratic utopia. But it can point the way to a different path.”

  • President-elect: election is over, it’s time for healing

    President-elect: election is over, it’s time for healing

    • Tinubu decries ethnic politics, violence

    Elections are over and the healing process must begin, President-elect Bola Ahmed Tinubu said yesterday. 

    He urged Nigerians, particularly the political class, to rise above their differences and team up with him to strengthen the “valued strings” that bind Nigeria together, irrespective of their ethnic backgrounds. 

    Noting that the tasks of governance in the post-election period are arduous and challenging, Tinubu said “the time for leadership and governance is now upon us.”

    The President-elect emphasised the need to take urgent steps to unite Nigerians who voted for the ruling All Progressives Congress (APC) and supporters of other platforms, stressing that “we all must embrace the healing process.”

    Tinubu was elected president on the APC platform on February 25. 

    He defeated the Peoples Democratic Party (PDP) candidate, Atiku Abubakar,  and his Labour Party (LP) counterpart, Peter Obi, in a historic poll that has been adjudged credible by foreign observers.

    The President-elect, in a statement titled: “Elections are over: healing must begin,” noted reported infractions associated with the exercise in some states. 

    He said a proper expression should be given to democracy by winners who must be magnanimous in victory.

    Those who did not win, he urged, should have a large heart for tolerance and respect for the national interest. 

    Tinubu said he was “pained” by cases of ethnic slurs reported in some locations, adding that the “physical and verbal assaults committed are unacceptable and antithetical to democratic ethos”.

    Stressing that politics should now give way for governance, Tinubu said: “The time for politicking is gone. This is time for nation building, a task beyond one individual or a section of society. 

    “We need every hand from wherever it may come to be on deck.”

    He added: “I am ready to work with you all as your President. 

    “I will be a worthy partner you can trust and rely on as we all bond together, in the unity of purpose and renewed hope for, the betterment of our blessed country and beloved people.”

    The President-elect congratulated the newly elected governors across the 28 states and House of Assembly members in 36 states. 

    He applauded President Muhammadu Buhari, the Independent National Electoral Commission, security agencies, observer groups, Civil Society Organisations, development partners and the electorate for the success of the elections, which, he said, were pivotal to the growth and sustenance of democracy and democratic governance at the state level.

    In his view, consolidating democratic governance at the sub-national level will bring more development and improved quality of life to the masses.

    He added: “The more we entrench and consolidate the gains of our democratic venture across the length and breadth of our country, the more our people benefit in terms of dividends of democracy and good governance.”

    However, Tinubu condemned the isolated infractions during the elections and its aftermath in some states.

    He pointed out that the report of arson after the announcement of governorship results in one state did not represent the true picture of Nigerians as peace-loving people.

    Frowning at the infractions, he said the physical and verbal assaults were unacceptable and antithetical to democratic ethos.

    Tinubu stressed: “Elections should be a celebration of our maturing democracy and freedom of choice and ought not to be moments of grief. 

    “I am particularly pained by cases of ethnic slurs, which are capable of creating needless mischaracterisation reported in some locations.”

    The president-elect appealed to Nigerians to rise above their differences, which, in reality, are fewer than the valued strings that bind them together as a people, “irrespective of the circumstances of our births.”

    Tinubu, who attested to the strength of the country’s diversity and togetherness as former Lagos State governor, promised to bring into national governance that spirit of inclusiveness so that Nigeria can attain its full potential.

    He promised to expand the civic space and safeguard citizens’ freedom to exercise their rights within the bounds of the law.

    Tinubu said: “Indeed, the elections are over. The people have voted to elect their governors and state legislators that will serve them for the next four years. 

    “The time for leadership and governance is now upon us.

    “In a democracy, the majority would have their way but that majority must not suppress the minority from having their say. As democrats, we have to safeguard free expression. 

    “Winners must be magnanimous and those who did not win should have a large heart for tolerance and respect for the greater interest of the nation.”

    He added: “As the elected, the only way to justify the trust and confidence of the people and the mandate entrusted in us is to commit ourselves to the service of the people. We must all work diligently and sincerely to make life better for the masses. 

    “As elected officers, we have no other assignment than to be burden-bearers for the masses and ensure they have the better life that we promised during the campaigns.

    “We must take urgent steps to unite the people; those who voted for us and those who did not. 

    “We must champion the healing process by embracing the opponents and their supporters.”

  • No cash in banks despite CBN’s N1tr in circulation claim

    No cash in banks despite CBN’s N1tr in circulation claim

    By Nduka Chiejina, Abuja, Collins Nweze, Lagos and Ernest Nwokolo, Abeokuja

    DESPITE a claim by Central Bank of Nigeria (CBN) Governor Godwin Emefiele that the apex bank has pushed nearly N1 trillion into circulation, Nigerians continue experience scarcity.

    Many branches of the Deposit Money Banks (DMBs) complain of inadequate allocation of cash from the CBN on daily basis.

    Emefiele told reporters after the end of the Monetary Policy Committee (MPC) meeting at the CBN headquarters in Abuja yesterday that the apex bank has pumped more cash into circulation.

    Fielding questions on the outcome of the MPC meeting, Emefiele said on the Naira redesign policy and where things stand now, the “currency in circulation is roughly close to a N1 trillion and the CBN continues to pump the newly designed currency into the market.”

    Speaking on cash flow since the March 3 Supreme Court judgment, Emefiele said: The CBN will need to re-access again to know whether the currency in circulation has attained an optimal level so as to be able to put in place measures that will ensure that we don’t go back to what we had before, where people were keeping a lot of money outside the banking system for their own benefit.

    “The MPC has noted that the naira redesign and cash withdrawal limit policies have resulted in a sizeable reduction in Currency-Outside-Banks, indicating an expected improvement in the potency of monetary policy tools.”

    The CBN governor praised Fintech operators, whom he said “used their idle capacity to boost their online payment,” adding “they have made a lot of money from that.”

    He said the “online payment on the Intech sector has actually improved quite a lot and we are happy that rather than relying on just only the banks, we have many other channels through which online payment services can be done so that Nigerians don’t suffer because we are in insisting that we have to go cashless.”

    He apologised to Nigerians for the pains they go through while trying to carry out electronic transactions across several bank channels.

    But notwithstanding Emefiele’s claim that more cash had been pumped into circulation, businesses, consumers and banks customers have demanded immediate end to the ongoing naira scarcity.

    As far as they are concerned, the impact of the cash injected by the CBN is yet to be felt in the banking system.

    According to small business operators, the cash crunch has limited their transaction volume and ability to meet the financial needs both to their customers and families.

    Mary Okon, a Lagos-based entrepreneur said the cash crunch has reduced her volume of sales.

    She said: “Before now, I made at least N35, 000 daily sales. Today, recording N10, 000 daily sales has become a big challenge. I plead with the CBN to release more cash to the economy.”

    Although banks continued the payment of both old and new naira notes to customers, the volume of the notes in circulation has not met the demand for cash.

    Many banks within the Lagos metropolis did not dispense cash to their customers either over the counter (OTC) or through the Automated Teller Machines (ATMs).

    “There were long queues of bank customers at most ATM points that had some cash to dispense. One bank branch in Marina Lagos, could only dispense N10,000 to customers with the bank’s ATM card. Customers of other banks got N5,000,” a customer narrated.

    In Abeokuta, the Ogun State capital, agonies of residents arising from the persisting cash crunch worsened yesterday.

    Banks in the Gateway City ran out of cash – both the new and old naira notes of 200, 500 and 1,000 denominations.

    At Omida, Lalulu Street (Okelewo), Panseke, Jide Jones, Sapon, Ita – Eko, Kuto and the Old Secretariat area, investigation  showed that they only opened to their surging customers to lodge complaints over truncated transactions and debit issues that occurred since the redesigned new naira notes policy took effect.

    Those who came for cash withdrawals returned home with disappointments. There were neither OTC payments, nor from the ATMs.

    The few ATM points that were dispensing cash stopped at 11am. A security guard in one of the banks cited mechanical faults and cash shortage as reasons.

  • Anxiety over results persists in Enugu, Abia, Adamawa, Kebbi

    Anxiety over results persists in Enugu, Abia, Adamawa, Kebbi

    By Tony Akowe, Frank Ikpefan, Abuja; Sunny Nwankwo, Umuahia; Damian Duruiheoma, Enugu and Chris Njoku, Owerri

    Voters in Abia, Enugu, Adamawa and Kebbi states have been kept waiting over the outcome of last Saturday’s governorship election.

    The Independent National Electoral Commission (INEC) is expected to fix dates for re-runs in some Kebbi and Adamawa polling units.

    It is unclear yet what decision will be taken regarding the collation of results in Abia and Enugu, where the process was suspended due to alleged irregularities and over-voting.

    INEC on Sunday said it would review the exercise in Obingwa Local Government Area (LGA) of Abia following an invasion of the collation centre and destruction of electoral materials.

    Chief Press Secretary to the INEC Chairman, Rotimi Oyekanmi, said the Commission would take a position on the states soon.

    He said: “The Commission is alive and up to its responsibilities. It will meet very soon to decide on that and Nigerians will be informed about the decision as we have always done.”

    Asked when that will be, he said: “Very soon. Very soon can mean tomorrow or the next hour. It can mean next week. One thing I can tell you is that it will be very soon.”

    National Commissioner, Festus Okoye, denied that the commission has accepted the results from Obingwa.

    He told our reporter that INEC was not done with the review.

    He added that the results collation would resume as soon as the commission was done with the appraisal.

    The commission is also expected to decide on the conduct of supplementary elections to some National Assembly offices that were declared inconclusive.

    It was learnt that the Abia election dispute has been referred to INEC headquarters in Abuja for resolution.

    INEC spokesman in Abia State, Mr. Bamidele Onyetunji, said they were awaiting further directives from national headquarters.

    INEC also dismissed as fake reports (not by The Nation) that its Chairman, Prof. Mahmood Yakubu, called the Presiding Officer in Abia to direct her to subvert the will of the people.

    Oyekanmi said in a statement that the Returning Officer only wanted an official communication on the decision to suspend the collation.

    He added: “The Chairman then directed that pending the delivery of the hard copies, the soft copies of the Commission’s letter be forwarded immediately to the Resident Electoral Commissioner of Enugu State and the Administrative Secretary of Abia State.

    “The Returning Officer for Abia State then directed that the content of the letter should be read aloud by the Administrative Secretary in the presence of agents of political parties, observers, the media and security personnel at the Collation Centre.

    “This is what is now being mischievously interpreted as a directive to the Returning Officer on some phantom criteria at variance with the approved guidelines. There is nothing like that.

    “In fact, the content of the letter is basically the same as the Commission’s Press Release dated Monday 20th March 2023 which has since been uploaded to the Commission’s social media platforms and is already in the public domain. 

    “The public should disregard the story as fake news.”

    Labour Party (LP) governorship candidate in Abia, Dr Alex Otti, is pleased with the suspension of results collation in Obingwa.

    Addressing his supporters at his Campaign Office in Umuahia, he said: “We received a report from INEC that they have suspended the collation from Obingwa LGA and also postponed the return and declaration, which should have happened today. 

    “I think it is appropriate that INEC did that.

    “If you have followed all the things that have happened since Saturday, it is very clear that Obingwa LGA has turned itself into a terror. 

    “And it is not Obingwa indigenes or residents. It’s thugs that were imported from outside Abia.”

    Otti said aside from holding INEC officials hostage, the thugs also battered an LP LGA agent, Dr George Chidozie.

    At a briefing in Abuja, he alleged a plot to rig the election.

    From the results released on the INEC website, Otti won 10 of the 16 LGAs.

    He polled 171,747 votes while Okey Ahiwe of the PDP scored 79,477 after winning in five LGAs.

    The LP candidate said: “What has happened this time around is that the BVAS has demystified Obingwa Local Government in Abia State.

    “In 2015, when I contested for the first time, the PDP produced 82,000 votes from Obingwa and overturned the victory that the Abia people gave us.

    “This time around, they want to do the same thing but the BVAS proved that there are no more than 30,000 votes in Obingwa…

    “Sixteen LGAs have been collated out of 17 and the total votes that LP scored out of the 16 LGAs is about 172,000 and that of PDP is less than 80,000.

    “So anyhow you flip and dice it with the numbers they have written, it still doesn’t have the support that would upturn our victory.

    “It’s also important to underscore the point that we believe that INEC will do the right thing.

    “All the other local governments that have been declared through the BVAS machine for accreditation, it is our firm belief that INEC will not change the rules in the middle of the game.

    “We are calling on our supporters to remain calm and wait on INEC to finish their review and release the results.”

    Enugu

    The ‘Occupy INEC’ protest over the alleged manipulation of the results in Enugu entered the second day yesterday.

    Hundreds of PDP and LP supporters took over the roads leading to the INEC office in Enugu.

    While the PDP supporters mounted several canopies with food and drinks at the WAEC Junction just before the state headquarters of INEC, their LP counterparts did the same at Agric Bank, just before The Good Shepherd Anglican Cathedral.

    Supporters of PDP governorship candidate, Peter Mbah, who were led by a former member of the House of Representatives, USA Igwesi, told reporters they would continue the protest until a declaration is made.

    They accused INEC of adopting a different rule from the one it used during the national collation of presidential election results where it ignored complaints from the agents of opposition parties.

    Igwesi also accused INEC of usurping the functions of the Election Petition Tribunals.

    He said: “We don’t need any soothsayer to tell us that Peter Mbah won the election. We’re surprised that INEC is still holding this result undeclared.”

    The “Obidient Movement,” and supporters of LP governorship candidate, Chijioke Edeoga, insisted he must be declared the winner.

    Enugu State Chairman of LP, Casmir Agbo, said they did not want PDP to manipulate the outcome of the election.

    “We won convincingly in all the 17 local government areas. We won by more than 11,000 votes. We have seen the results. 

    “The only problem is the Nkanu East, where they padded the results and wanted INEC to accept it. But we won’t allow that to happen,” he said.

    The Coalition of South East Youth Leaders (COSEYL) expressed concern over the delay in announcing the Enugu and Abia results.

    Its leader, Goodluck Ibem, said in a statement: “We call on INEC, not to delay, but announce the rightful winners of the governorship election in Abia and Enugu states to calm the frayed nerves in both states.”

  • Declare me winner or cancel poll, Obi urges tribunal

    Declare me winner or cancel poll, Obi urges tribunal

    • LP presidential candidate lists three grounds of appeal

    The presidential candidate of the Labour Party (LP) in the February 25 election, Peter Obi, has asked the Presidential Election Petitions Court (PEPC) to, among others, declare him the winner of the election.

    In the alternative, Obi prayed the court to cancel the election and conduct a fresh poll.

    These are among the reliefs he is seeking in a petition he filed with his party at the court’s secretariat at the Court of Appeal in Abuja.

    Obi and LP reportedly filed their petition yesterday with the Independent National Electoral Commission (INEC), Bola Tinubu (President-elect), Kashim Shettima (Vice President-elect) and their party, the All Progressives Congress (APC), listed as respondents.

    The petitioners are challenging the election on three grounds, alleging that Tinubu “at the time of the election, was not qualified to contest the election”.

    They are also contending that Tinubu’s election “was invalid by reason of corrupt practices or non-compliance with the provisions of the Electoral Act,” and that he (Tinubu) “was not duly elected by majority of the valid votes cast”.

    They also argued that Shettima was not qualified to contest the election on the ground of his alleged double nomination as a senatorial candidate for Borno Central and as a vice presidential candidate.

    The petitioners averred that they “shall contend at the trial that the purported sponsorship of the second and third respondents (Tinubu and Shettima) by the fourth respondent (APC) was rendered invalid by reason of the third respondent knowingly allowing himself to be nominated as the vice presidential candidate whilst he was still a senatorial candidate” for the Borno Central Senatorial District.

    Obi and LP prayed the court for four sets of alternative prayers.

    The first set includes:

    •That it be determined that at the time of the presidential election held on February 25, 2023, the second and third respondents (Tinubu and Shettima) were not qualified to contest the election.

    •That it be determined that all the votes recorded for the second respondent in the election are wasted votes, owing to the non-qualification of the second and third respondents, among others.

    Alternatively, they sought:

    •An order cancelling the election and compelling the first respondent (INEC) to conduct a fresh election at which the second, third and fourth respondents (Tinubu, Shettima and APC) shall not participate.

    No date has been set for the hearing of any of the petitions.

    As alternative to the earlier prayers, the petitioners are also seeking the set of prayers.

    These include:

    •That it may be determined that the second respondent was not duly elected by a majority of the lawful votes in the election for the office of the President of the Federal Republic of Nigeria held on February 25, 2023; and therefore, the declaration and return of the 2nd respondent as the winner of the presidential election are unlawful, unconstitutional and of no effect whatsoever, among others.

  • Wike fires back at Amaechi over claim on INEC chair

    Wike fires back at Amaechi over claim on INEC chair

    • Yakubu never worked under me, says governor

    Rivers State Governor Nyesom Wike has debunked the claim by former Transportation Minister Rotimi Amaechi on his relationship with the Chairman of Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu.

    The governor described as ludicrous Amaechi’s allegations that Prof. Yakubu once worked under him as a minister.

    He urged security agencies to arrest his predecessor over his claims that he (Amaechi) opposed the reappointment of Yakubu because the INEC chairman was nominated by someone in President-elect Bola Ahmed Tinubu’s camp of the ruling All Progressives Congress (APC).

    Wike said Amaechi’s public tantrums were tantamount to public incitement and should be treated as a threat to national security.

    The governor, in a broadcast yesterday on the outcome of the March 18 governorship and House of Assembly election in Rivers State, described as laughable Amaechi’s outburst that the just-conducted general election by INEC was the worst in Nigeria’s history.

    He said: “The truth was that Mahmood Yakubu never worked under me. Both of us worked in the Federal Ministry of Education. He was the Executive Secretary of the Tertiary Education Trust Fund (TETFund), supervised by the Minister of Education, while I was the Minister of State for Education.”

    “At any rate, was Mahmood Yakubu the INEC chairman in the 2015 general election in Rivers State when we defeated him and his political party as a sitting governor and Director General of Muhammadu Buhari’s Presidential Campaign?

    “Was it not the same Mahmood Yakubu that conducted the 2019 general election, which the APC and President Mohammadu Buhari won? Was he working for Atiku Abubakar of the Peoples Democratic Party (PDP) when, as a sitting super Minister of Transportation, he could not win 25 per cent for President Buhari in Rivers State in the 2019 general election?”

    Wike wondered why it took such a long time for Amaechi, who was minister for over seven years under President Buhari, to speak out about his opposition to Yakubu’s reappointment.

    The governor said in his frustration, Amaechi publicly denounced and claimed to know so much bad things about the Federal Government that he served for over seven years.

    He added that the former minister lacked the courage to tell Nigerians what he claimed to know about Buhari’s government, which he alleged had failed.

    Wike said: “In saner climes, law enforcement agencies should have invited such a devious and malignant character for hate speech, public incitement and threat to national security, public safety and order.

    “By his mischievous statements, Rotimi Amaechi attempted to attribute, locate and blame his infamous political failures and frustrations in Rivers State on the INEC’s chairman.

    “In the 2015 general election, we defeated him as a sitting governor and Director General of the Buhari Campaign in Rivers State. In the 2019 general election, we beat him as President Buhari’s super Minister and Director General of the APC Presidential Campaign.

    “He could not even influence 25 per cent of the votes for his party, even after using the army to cause mayhem and attempt to rig the election. In 2023, we defeated him as an ordinary person. This shows that Rotimi Amaechi cannot win any electoral contest with us in Rivers State.”

  • We are making ports better, says NPA MD Koko

    We are making ports better, says NPA MD Koko

    The Nigerian maritime industry has all it takes to be the leader on the African continent. But, decay has kept it on its knees, thereby becoming a nightmare for businesses. But things are beginning to look up. In this interview with OLUWAKEMI DAUDA, the Managing Director, Nigeria Ports Authority (NPA), Mohammed Bello-Koko, explains that for the country to assume the leadership role on the continent, there is the need for it to deepen port competitiveness through efficient operations. He also speaks on other issues affecting the industry and efforts by his administration to reposition it for better efficiency and growth.

    Can you appraise the maritime sector in the first quarter of this year?

    The year opened for the ports on a sound footing: Nigeria’s first Deep Seaport at Lekki, Lagos, commenced operations. We have seen a lot of improvement in cargo dwell-time. We are on the verge of the commencement of the reconstruction of the aged Tin Can Island Port Complex and rehabilitation of other ports to deepen the competitiveness of our exports, especially agro-allied products in international markets. We have licensed Export Processing Terminals (EPTs), among others.

    We were also adjudged by the Bureau for Public Service Reforms (BPSR) as a Level 5 “Platinum Level” organisation due to our efforts at providing the enabling environment for exceptionally high quality of work in  essential areas of responsibility, resulting in an overall quality of work that is superior, exceptional and unique.

    What are the factors impeding trade facilitation in the port?

    A major impediment is Customs processes and the insistence, sometimes on 100 per cent physical inspection of cargo. This constitutes delays with attendant negative impact on Cargo dwell-time. Another challenge is that of too many government agencies at the ports, which has resulted in duplications.These  combine to increase the cost of doing business in our ports.

    These are cumbersome documentation. However, we are doing a lot to address these issues. For instance, we are relentless in our drive to deploy the Port Community System (PCS) under the technical guidance of the International Maritime Organisation (IMO).

    We have completed the first phase of the consultancy and the IMO consultants have actually visited the country for 10 working days to interface with the various agencies in the value chain. We are at the last stage of deployment of the PCS. Actually, we are persuaded that the PCS will lay the groundwork for the National Single Window (NSW), which will effectively solve these challenges.

    What is delaying the review of the Concession Agreement you had with terminal operators since 2006?

    The review of the Concession Agreement is actually not being delayed.This government is only trying to do a more thorough job to give Nigeria a better deal.

    Recall that the Minister of Transportation approved the renewal to be driven by an Inter-Ministerial Committee comprising the Federal Ministry of Transportation, Federal Ministry of Finance, Budget and National Planning, Federal Ministry of Justice, NPA, Nigerian Shippers’ Council (NSC), Bureau of Public Enterprises (BPE) and Infrastructure Concession Regulatory Commission (ICRC) with very stringent terms.That process has been completed and it is awaiting the Federal Executive Council’s (FEC) approval.

    Does that mean the earlier agreement was  skewed in favour of terminal operators? If yes, what are your plans to revise this?

    Actually, some of the lapses identified in the expiring leases have been addressed in the conclusive stage of their renewals. Under the new agreements, parties will be tasked to be more alive to their responsibilities in terms of deployment of state-of-the-art equipment, port illumination, quay maintenance, strict adherence to development plans, etc.

    To what extent are terminal operators indebted to the NPA?

    There are technicalities that govern the calculation of these values.The debt figures are composed of estate rents, lease fees and throughput charges, among others, as stipulated in the concession agreements. These debts date back to  between 2006 and 2019. There have been recoveries within the period under review, and there are unrecoverable debts owing to issues such as Volume Change, Guaranteed Minimum Tonnage (GMT)/Penalties, Encumbered Areas etc. For avoidance of doubt, it would be necessary to explain the following terms: Volume Change – Means volume adjustment.

    The Executed Contract Agreement with one of the major Terminal Operators stated that if the percentage variation between actual/ performance and projected volume is within minus 10 per cent to plus 10 per cent, the lease fee will be paid in full. However, if the percentage variation performance is more than minus 10 per cent to plus 10 per cent the lease fee payable will be adjusted by an equivalent percentage. Therefore, the adjustment is against the lease fee payable by the percentage change in volume.

    Encumbered Areas – refers to areas that are inaccessible due to factors not caused by the tenant such as host community hostility, marshy land, or equipment or buildings within the terminal that constitute obstacles for smooth operation etc.

    Guaranteed Minimum Tonnage (GMT)- This is 90 per cent of the projected tonnage pledged to be achieved by the concessionaire. If this is achieved, the concessionaire will be incentivised, if otherwise the concessionaire will be penalised.

    Unpaid VAT- this relates to the VAT element of the unpaid lease fees arising from adjustment brought about by the volume change defined above.

    Penalty- means financial burden suffered for failure to meet the terms of payment in a contractual agreement. It is as a result of the concessionaire not paying within the specified time/days allowed in the contractual agreement or a charge for late payment. Let me reiterate that under the new agreements, measures have been taken to forestall the accumulation of debts.

    Terminal operations represent the most common performance indicator to assess port efficiency. What is your take on that?

    I agree that the terminal operations constitute an objective measure of operational efficiency. If we do a comparative analysis of the pre-concession and post-concession era there have been significant improvements, but what we are doing now is to ensure that more is achieved, because success when not improved upon easily becomes failure. For instance, the turn- around time of vessels reduced from an average of 9.2 days pre-concession to an average of 5.2 days post-concession. This signifies a marked improvement in efficiency in the handling of vessel and cargo operations which has great propensity to reduce shipping costs. Cargo Throughput has also increased from 44.9 Million Metric Tonnes in 2005 to 75.3 Million Metric Tonnes in 2022. Container Throughput increased from about 599,000 TEUs in 2006 to over one Million TEUs in 2022. Vessel sizes have also increased significantly.

    How can Nigeria become Africa’s leader in maritime?

     To assume port leadership on the continent, we must deepen our port competitiveness through efficient operations, which are seamless and lower cost. The smartest strategy for achieving this is full automation of ports and leveraging the advantages of economies of scale by constructing deep seaports. We are moving in that direction with the operationalisation of Lekki Deep Seaport whose template will govern the coming on stream of the Badagry Deep Seaport and others. We are working on improving the processes in the maritime industry and reconstructing decayed port infrastructure. We are in discussion with AFREXIM Bank and other local banks to fund the reconstruction.

    Can there be improvement in the sources of revenue and collection at the port?

    Most of the unprecedented upswing in the Authority’s revenue being witnessed, especially since 2020, are attributable to our tightening of collection mechanisms and we are relentless in our diversification of revenue sources through the many initiatives on new business avenues we have been churning out.

    On a general note, what is your assessment of the performance of the Authority’s JV partners?

    Again, a juxtaposition of the period before the JV partnerships and the status quo clearly shows significant performance: Channel surveys, wreck removal and dredging increased channel depth from 9.5 meters to 15.5 meters.

    What is the revenue profile of the NPA and how has this contributed to the national economy?

    We have supported the national economy through unprecedented revenue generation and remittances to the Consolidated Revenue Fund (CRF) of the Federation with revenue steadily growing from N317 billion in 2020 to N361 billion in 2022 and remittances progressively soaring from N80 billion in 2020 to N91 billion by financial year end 2022.

    The ports are in dire need of critical infrastructure. For instance, the quay wall at the Tin-Can Port has collapsed. What are your plans towards solving these challenges facing our ports?

    Our comprehensive ports need assessment and appraisals reveal that we will be requiring about $800 million to reconstruct TinCan Island Port Complex and rehabilitate aged infrastructure in the other port locations. This is aside other challenges facing the prots which include but not limited to: aged/collapsed infrastructure, multiplicity of government agencies, inadequate funding, municipality encroachments etc.

    The return of louts otherwise known as ‘wharf rats’ into the ports are on the increase despite the presence of security agencies. How can this be tackled?

    One of the steps we have taken to stem the influx of unauthorised persons at the ports recently is the perimeter fencing of TinCan Port and I can tell you that if you visit that location, you will confirm that sanity has been restored significantly.

    Also, recall that we had, in partnership with the Police High Command and Lagos State Government, removed shanties and other illegal erections along the ports’ environs. We intend to sustain these clearance. We have also installed Access Control Gates and ISPS-compliant fences Authority-wide.

    The MWUN has kicked against poor salary increase by your management. How do you intend to address this to avoid industrial action?

    I am surprised to hear this, because I am in receipt of a letter dated March 6, 2023 signed by the Secretary-General of the Maritime Workers Union of Nigeria (MWUN), expressing appreciation to the management of the authority for the increment in the salary of its members.

    Breaking the jinx of salary stagnation suffered for over a decade by the authority’s employees was made possible with the support of the MWUN, and we remain appreciative.

    This critical support from MWUN has buoyed us to intensify our relentless drive towards continuous improvement in the welfare of our esteemed workers in ways not limited to monthly salary alone.

    Let me reiterate that we are delighted that our own Comrade Adewale Adeyanju is now the Deputy President of the NLC. This gives us the solidarity and backing to push for more benefits for our highly valued human resources.

  • Emefiele, Malami must go

    Emefiele, Malami must go

    • There is no justification for their continued stay in office

    President Muhammaudu Buhari’s government appears to have shot itself on the foot in its last days, and may have to wobble until its tenure ends on May 29. The currency swap has become an economic fiasco, and tragically, the government is not making enough efforts to ameliorate the farce. By several accounts, the nation’s economy has shed about N20 trillion since the imbroglio, as productivity has weakened, with many small business enterprises closing down. 

    Until the governors who sued at the Supreme Court to determine the legality of the unilateral policy of the Federal Government, threatened the Central Bank Governor (CBN) Godwin Emefiele and the Attorney-General of the Federation (AGF), Abubakar Malami, SAN, with contempt proceedings, the clear and unequivocal judgment of the apex court was treated with utmost contempt. 

    Such level of irresponsibility should not be condoned, and so the two officials should either resign immediately, or be sacked.

    And while the officials prevaricated, the nation’s economy haemorrhaged. A detailed report by ‘The Guardian’ Newspaper showed the consequences of the fiasco. The Centre for the Promotion of Private Enterprise (CPPE) reports that the nation suffered N20 trillion losses arising from the deceleration of economic activities, crippling of trading activities, stifling of informal economy, contraction in the agricultural sector and paralysis of the rural economy, with corresponding job losses in thousands. 

    The chief executive of CPPE, Dr. Muda Yusuf, further explained that retail transaction across the country continues to suffer. In his words: “Nigerians have not been this traumatised in recent history. The economy is gradually grinding to a halt because of the collapse of payment systems across all platforms. Digital platforms are performing sub-optimally because of congestion, physical cash is unavailable because the CBN has sucked away over 70 percent of cash in the economy and the expected relief from the Supreme Court judgment has not materialised.” 

    The President of the Association of Senior Civil Servants of Nigeria (ASCSN), Tommy Okon, noted that the economic advisers to the government have failed, and we agree with him. Atop the list of failures is the CBN governor, Mr Emefiele. His time as the governor of CBN would rank as the worst in the country’s history. Apart from his jejune economic policies, he abused his office, by using the paraphernalia of office for political hustling.

    He has also engaged in alleged terrorism financing, according to the Directorate of State Services (DSS). Indeed, but for the intervention of some forces in the presidency, he was earmarked for arrest and prosecution by the DSS. As we write, he has not cleared himself of that accusation, neither has the charge been dropped. His continued stay in office therefore amounts to condoning an alleged terrorist financier in the nation’s central bank. The consequences are grave.

    We also demand that AGF Malami be sacked forthwith. The shoe he is wearing is too big for him. The economic fiasco Nigerians face was partly caused by his ill-advice to the president. When the apex court ordered the maintenance of status quo, he advised the president to disobey the order. His argument that the Supreme Court lacked jurisdiction was trashed by the judgment of the court, and instead of accepting the judgment, he claimed that he does not advise the president on economic issues.

    If any person has brought shame and ridicule to the office of the AGF, Malami is number one. Even when the Federal Government’s lawyer in the matter, former AGF Mr Kanu Agabi, SAN, advised that the judgment of the apex court be obeyed, Malami demurred. Clearly Emefiele and Malami are like a contagious disease. We urge President Buhari to ask them to resign, or sack them.

  • Court stops Federal Place Hotel’s TCN’s Extraordinary General Meeting

    Court stops Federal Place Hotel’s TCN’s Extraordinary General Meeting

    The Board of Tourist Company of Nigeria (TCN) Plc has suspended the extraordinary general meeting of the company scheduled for the weekend after a shareholder obtained a court order to stop the meeting.

    TCN owns Federal Palace Hotel & Casino, a luxury hotel based on Victoria Island, Lagos.

    The meeting, which was scheduled for last Friday at Federal Palace Hotel, was suspended due to an order of interim injunction from the Federal High Court, which was served on the company.

    In suit FHC/L/CS/260/2023 – Omamo Investments Corporation v. The Tourist Company of Nigeria & Others, the plaintiff had sought and obtained court order to halt the meeting.

    Oma Investments holds 18.1 per cent material equity stake in TCN, the third largest equity stake. Sun International holds the largest equity stake of 49.3 per cent. Associated Ventures International controls 18.7 per cent equity stake while Ikeja Hotel, another quoted company holds 12.2 per cent. 

    “Consequently the notice of any subsequent EGM would be circulated to the shareholders of the company subject to the outcome of the hearing and determination of the motion for injunction,” the company stated.

    The Board of TCN had called the EGM to seek shareholders’ approval for the restructuring of the company.

    According to the notice, the directors were seeking shareholders’ authorisation to “consider, negotiate, agree and implement all such options for the restructuring of the statement of financial position of the company, including by way of an asset sale, share sale or such other capital injection that would maximise the interest of stakeholders inclusive of shareholders, creditor, employees, government, community and others”.

    The meeting was also supposed to empower the board “to take all such actions and do all such acts, deeds, and things as they deem necessary to give effect” to the first resolutions, “including executing or authorising the execution of relevant documents and appointing any required professional adviser; and that all actions previously taken by the directors in that regard be and are hereby ratified”.

    TCN has struggled in recent years with sluggish sales and higher expenses.

    Full-year report of the company for the year ended December 31, 2022 showed that turnover rose marginally from N3.08 billion in 2021 to N3.98 billion in 2022. However, the company recorded operating loss of N677.4 million in 2022, as against N709 million in 2021. Loss before tax rose from N2.33 billion in 2021  to N3.2 billion in 2022. After taxes, net loss increased from N2.33 billion in 2021 to N3.21 billion in 2022.

    The Nigerian Exchange (NGX) had placed TCN on delisting watchlist. According to the company’s record, on July 1, 2015, the NGX had notified the company of its intention to delist TCN due to the free float deficiency.

    A board resolution was passed on July 13, 2015 authorising the delisting, and communicated in a letter to the NGX on July 20, 2015. The company sent a reminder to the NGX on April 27, 2016, but NGX responded on May 31, 2017 that the delisting had been placed on hold until the governance problems at Ikeja Hotel Plc have been resolved.

    The board of the company stated that it would consider its options when the Ikeja Hotel Plc’s governance issues have been resolved, but assured that it would co- operate fully with the NGX on the way forward.

  • Aircraft windshield market to reach $729.9m in 2030

    Aircraft windshield market to reach $729.9m in 2030

    The global aircraft windshields market size is projected to reach   $729.9 million by 2030, growing at a Culmulative Annual Growth Rate (CAGR) of three per cent over the analysis period –  2022-2030.

    Wind shields for narrow-body aircraft – Embraer, Bombardier CRJ, ATR –  flown by many Nigerian carriers, is projected to record a 2.8 per cent  CAGR by the end of the analysis period.

    Taking into account the ongoing post-pandemic recovery, growth in the wide-body aircraft – Boeing 737s, Airbus and other aircraft types wind shield segment also flown by many Nigerian carriers  is projected to attain a  revised 3.4 per cent  CAGR for the next eight-year period.

     Experts describe aircraft windshields as  crucial components of airplanes, providing critical visibility for pilots and protecting them from external elements.

    Nigeria, among other countries, patronise this market as indigenous and foreign carriers fix aircraft windshields damaged by bird strikes and other hazards to the airplane.

    The market, which experts say,  finds application in various aviation sectors, including airliners, general aviation, business aircraft, and others, use large, multi-pane windshields for excellent visibility and durability, while aviation and business aircraft use smaller, single-pane windshields for improved aerodynamics and fuel efficiency.

    The market also covers  military planes and helicopters, which contributes significantly to the growth of the aircraft windshield market.

    The aircraft windshield market, experts added, could be segmented into four types, namely acrylic, polycarbonate, mineral glass, and others, based on the materials used in their construction.

    The growth, experts say,  could also be attributed to advancements in windshield technology, such as the use of innovative materials and design, which have significantly enhanced their durability, safety, and efficiency.

    Overall, the global aircraft windshields market is expected to witness significant growth in the coming years, driven by factors such as increasing air travel, rising demand for newer aircraft models, and advancements in technology.

    Moreover, the rise in air traffic and the need to replace aging aircraft windshields, experts say,  is expected to create new growth opportunities for the industry.

    With the advancements in technology and the increasing demand for innovative products and services, the aircraft windshields industry has seen a significant surge.

     The market size of aircraft windshields has grown substantially, with more and more companies entering the industry to capitalise on the increasing demand.

    The aircraft windshields market share has also seen a substantial increase.The competition in the industry, experts say,  is intense, with companies competing to offer the best products and services to their customers.

    Despite this, experts say, some companies have managed to establish a strong presence in the market and dominate a significant share of the market.

    The growth of the aircraft windshields market is driven by several factors, including increasing consumer demand, technological advancements, and increasing investments in research and development.

    The increasing demand for Aircraft Windshields products and services, experts added  has led to a surge in the market growth, with more and more companies entering the industry to capitalize on the opportunity.

    The aircraft windshields market is experiencing a positive growth trend across the regions of North America, Europe, Asia-Pacific, USA, and China.

    This market is a critical component in the aviation industry and is designed to ensure a clear view of the horizon for pilots during flight.

    North America and Europe are expected to witness significant growth in the aircraft windshields market due to the increasing demand for newer aircraft models and the presence of established aircraft manufacturers in the region.

    In the Asia-Pacific region, the growth of the aviation industry is being driven by the increasing number of air travelers, rising disposable income, and government initiatives to promote tourism.

     China is emerging as a prominent market for aircraft windshields due to the increasing number of people opting for air travel in the country.

    The USA is one of the largest markets for aircraft windshields, with the presence of major aircraft manufacturers and airlines. The country is expected to witness positive growth due to the increasing demand for high-quality aircraft windshields.

    Growing countries such as India, Brazil, Mexico, and Russia are also expected to play a significant role in the growth of the aircraft windshields market due to the increasing number of air travelers and growing aviation infrastructure.

    The Russia-Ukraine war and the Post Covid-19 pandemic have significantly impacted the Aircraft Windshields market. The conflict and geopolitical tensions among the countries have led to a decline in demand for aircraft, resulting in a sluggish growth rate of the market.

    However, the market is expected to witness a gradual recovery in the post-pandemic period due to continuous upgrades and maintenance of existing fleets. The rising emphasis on passenger safety and comfort, coupled with the increasing adoption of advanced technologies, is likely to fuel the growth of the aircraft windshields market.

    The major benefactors of this growth are anticipated to be the leading players in the industry, including :  PPG Industries, Saint-Gobain, Gentex, and Lee Aerospace.

     These players are expected to leverage their expertise in advanced materials technology and expand their product portfolio to cater to the evolving needs of the aviation industry.