Nigeria has been ranked 31 in the list of most productive economies in 2022 based on Gross Domestic Product (GDP) according to a report.
In the ranking, the United States of America came first, followed by China and Japan in the third position.
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year.
Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.
Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country’s currency.
Such fluctuations may change a country’s ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.
The Presidential Election Petition Court (PEPC) has dismissed the three petitons brought against the election of President Bola Tinubu.
The petitions were brought by Atiku Abubakar and the Peoples Democratic Party (PDP); Peter Obi and the Labour Party (LP); and the Allied Peoples Movement (APM).
Justice Haruna Tsammani, in the lead judgment, affirmed the declaration and return of Tinubu as the winner of the election having scored the highest lawful votes.
He held that none of the three sets of petitioners was able to prove their allegations as contained in the petitions
Two other members of the court’s five-member panel, Justices Stephen Adah and Monsurat Bolaji-Yusuf have also agreed with the lead judgment.
Justice Bolaji-Yusuf is about rounding off her contribution.
The other two members are yet to render their contributions
Details shortly…
LP’s faction accepts PEPC judgement, says Obi only ‘chased a wild goose’
By: Frank Ikpefan, Abuja
The Lamidi Apapa-led faction of the Labour Party(LP) said it has accepted the judgement of the five-man panel of the Presidential Election Petition Court which dismissed the petition of its Presidential candidate in the February 25 Presidential election, Peter Obi for lacking in merit.
The faction said as “a law abiding party, we accept the verdict, and we are going back to the drawing board to know where we have gone wrong.”
The Apapa-led faction said it warned Obi not to pursue any case, saying that this will only result in “chasing a wild goose.”
The party in a statement by its factional National Publicity Secretary, Abayomi Arabambi, while reacting to the verdict of the Presidential Election Tribunal, which struck out Obi’s petition against the election of President Bola Tinubu.
The statement said: “It is a shame that the legal team of Mr Peter Obi failed to advise him properly before going to the tribunal.
“Peter Obi has just gone on a wild goose chase. Imagine the candidate that failed to fund the party in order to engage the number of required polling agents, also the filing of the witnesses outside the stipulated time has shown that the legal team is a failure.
“Some of us have been saying that Peter Obi decided to go to the tribunal to justify all the money he collected during the campaign, all that money was corruptly siphoned.
“It’s unfortunate that Obi failed to convince the Tribunal those polling units where he was rigged out. The tribunal also said that he ‘made generic allegations of irregularities against the respondent without specifying the polling units.’
“The petitioners alleged irregularities and will use spreadsheets, inspection reports, and forensic analysis as evidence in the trial. The documents promised by the petitioners were not attached to the petition and served on the respondents.
“The Tribunal also affirmed that the Nigeria Police, through IGP, had written to the US to confirm the criminal status of Bola Tinubu and the US government had replied in 2003 stating that Bola Tinubu had no criminal records in the US.
“Thus, our previous position has now been confirmed that Peter Obi was just all out to defraud our party of donations made towards 2023 general election which was in a scary sum of $15million and N12 billion that Peter Obi deliberate used for cure Abure poverty lineage and help other Julius Abure IPOB irresponsible ethnic irredeemable irredentist supporters in order to have a life line
“Our party is also in tandem with the tribunal that the claim by the Labour Party concerning the blurred 18,088 results sheets is totally unfounded as the party ought to have agents at every polling unit who will have a copy of the result sheet, but here Peter Obi fraudulently converted all monies due to our agents across the country and they all refuse to represent the party at all pooling units
“On Peter Obi request that 25% FCT vote is a requirement before a president can be declared, we noted that this is a shame on the part of Peter Obi legal teams to be told in clear terms that Abuja is equal to every other states in Nigeria since according to the Tribunal, residents of Abuja don’t have special privileges, every Nigerian is equal.
“Finally, in the hall of fame of absurdities, the prayers presented at the tribunal by Peter Obi and the restrained former National Chairman, Julius Abure should be framed for entertainment of future students of Law
“How does anyone claim to have won an election based solely on pejoratives, assumption, vague rhetorics and zero evidence pointing to such being the case, but on the expectation that the actual winner would be disqualified and by some stroke of black magic, the candidate in the 3rd place will suddenly be declared winner, without any proof of having scored the majority vote is absolute rascality on display by Peter Obi and Julius Abure.
“As a law abiding party, we accept the verdict, and we are going back to the drawing board to know where we have gone wrong.”
JUST IN: PEPC strikes parts of Atiku/PDP’s petition on Tinubu’s alleged dual citizenship, others
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has struck out some portions of the reply filed by Atiku Abubakar and the Peoples Democratic Party (PDP) including that where they accused President Bola Tinubu of having dual citizenship.
In a ruling read by Justice Boloukuoromo Ugo, the court also rejected the aspect where the petituoners claimed that Tinubu was not qualified on grounds of alleged criminal conviction and criminal forfeiture in the United States.
The court held that the information contained in the reply was an attempt to smuggle in fresh evidence to cover for the information they failed to provide in their petiton in support if their claim that Tinubu was not qualified.
It also held that the two witnesses statements and other documents filed along with the reply were inadmissible.
The court has also struck out evidence of some witnesses, whose written statements were not filed alsong with the petition, along with documents that were the deted through them.
Labour Party rejects PEPC’s judgement
By Frank Ikpefan, Abuja
The Labour Party has rejected the judgement of the five-man panel of the Presidential Election Petition Court led by Justice Haruna Tsammani which dismissed the petition of the party against the election of President Bola Tinubu.
The party, in a statement issued by its National Publicity Secretary, Obiora Ifoh noted that “justice was not served and it did not reflect the law and the desire of the people.”
The party said its next line of action would be made known after consulting with its lawyers and studying the certified true copy of the Judgement.
The statement read: “The Labour Party watched with dismay and trepidation the dismissal of petitions by the five-man panel of the Presidential Election Petition Court led by Justice Haruna Tsammani today and we reject the outcome of the judgment in its entirety because justice was not served and it did not reflect the law and the desire of the people.
“Nigerians were witnesses to the electoral robbery that took place on February 25, 2023, which was globally condemned but the Tribunal in its wisdom refused to accept the obvious.
“What is at stake is democracy and we will not relent until the will of the people prevail.
We salute the doggedness of our team of lawyers who fearlessly exposed the wrath in our system. We can only weep for democracy in Nigeria but we refuse to give up on Nigeria.
“Details of the party’s position will be presented after consultation with our lawyers after the Certified True Copy of the
“We urge all lovers of democracy to remain focused and hopeful because a new Nigeria is possible.”
PEPC strikes portion of Atiku/PDP’s petition querying Tinubu’s qualification
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has struck out some aspects of the petition by Atiku Abubakar and the Peoples Democratic Party (PDP) including that where they claimed President Bola Tinubu was qualified to contest the last presidential election.
In a ruling, on some motion by the respondents, the court held that while the petituoners claimed that Tinubu did not meet constitutional threshold to have contested the election, they failed stated what the required qualification was.
The court also struck out some paragraphs where the petitioners accused Governor Yahaya Bello of Kogi State and one Friday Adejo (described as a Local Government Chairman in Kogi State), but failed to join them as parties to the petition.
It equally struck out some other paragraphs where it found that the petitioners made vague allegations of irregularities and malpractices.
JUST IN: 25 percent votes in FCT not mandatory to win presidential election, PEPC rules
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has held that it was not mandatory for a candidate in a presidential election to score 25 percent of votes in the Federal Capital Territory (FCT) to be declared the winner.
In a judgment on the petition by Peter Obi and the Labour Party (LP), the court held that INEC was written to have declared President Bola Tinubu the winner of the election even when he did not score 25 percent of votes in the FCT.
In the lead judgment, Justice Haruna Tsammani held that the FCT did not enjoy any special status in the Constitution and that the Constitution is meant to apply to the FCT as if it is one of the nation’s states.
The court faulted the claim by the petitioners that 25 percent votes were mandatory, describing such a claim as a misrepresentation of the intention of the framers of the Constitution.
While resolving all four issues in the petition against Obi and the LP, the court held that the petition was clearly unmeritorious.
Eight key issues determined so far by Presidential Election Petition Tribunal
By Alao Abiodun
The Presidential Election Petition Tribunal (PEPT) has delivered a number of judgement so far in petitions filed against the outcome of the 2023 presidential election.
The Nation reports five political parties including the PDP, LP, Action Peoples Party (APP), Allied Peoples Movement (APM) and the Action Alliance (AA) had lodged separate petitions before the tribunal seeking to annul Tinubu’s victory.
Justice Haruna Tsammani is the lead judge of the five-man panel presiding over the judgement.
Others include Justice Stephen Adah – Court of Appeal (Asaba division); Justice Monsurat Bolaji-Yusuf – Court of Appeal (Asaba Division); Justice Moses Ugo – Kano division and Justice Abba Mohammed – Ibadan Court of Appeal.
These five jurists will continue to deliberate and possibly vote to take a final decision, in case there are disagreements on issues thrown up at ongoing trial.
Here are the key issues which have been determined so far:
1. The allegation of double nomination by APM against Vice-President Kashim Shettima holds no water.
2. LP’s Peter Obi could not prove that his votes were suppressed and that he scored the majority of lawful votes cast.
3. Out of the 13 witnesses called by Obi/LP, 10 were not accepted by the court.
4. The tribunal said President Bola Tinubu was not convicted because civil forfeiture is not a criminal matter.
5. The tribunal said INEC is at liberty to define the mode of results transmission it intends to use.
6. The tribunal said there is no specific provision for the electronic transmission of election results in the Electoral Act 2022.
7. Obi/LP failed to prove INEC deliberately refused to upload results.
8. Obi/LP failed to prove how they were affected by the failure of INEC to electronically transmit results.
Obi, LP fail to prove allegations of non-compliance, over-voting, others-PEPC
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has declared Peter Obi and the Labour Party (LP) failed to provide credible evidence to prove their allegations that the Independent National Electoral Commission (INEC) did not substantially comply with the Electoral Act in the conduct of the election and the poll was marred by corrupt practices, including over-voting.
In a judgment on the petition by Obi and the LP, the court held that the petitioners merely bandied around allegations without providing evidence to support the same.
The court, in the lead judgment still being read by Justice Haruna Tsammani, has so far resolved three issues out of the four, identified for determination, against the petitioners.
PEPC says fine by US court did not disqualify Tinubu
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has held that President Bola Tinubu and Vice President Kashim Shettma were qualified to have contested the last presidential election.
The court held that Tinubu was not disqualified by the fine imposed on him by a United States court following a civil forfeiture proceeding.
In a judgment on Wednesday in the petition by Peter Obi and the Labour Party (LP), the court held that the fine imposed by the US court did not qualify as a fine for fraud or dishonesty provided in Section 137(1)(d) of the Constitution.
It added that the petitioners evidently failed to prove their case that Tinubu was disqualified by virtue of the decision of the US court, adding that Obi and the LP did not comply with the requirement of Section 249(1) and (2) of the Evidence Act in proving conviction outside the country.
It held that the US court case was in respect of a civil case, not a criminal case, addi g even if it was to be a criminal case, Section 137(1)(e) of the Constitution, such conviction or flne must be within 10 years for s person to be disqualified.
The court restated its decision in the petition by the APM that Shettima engaged in the double nomination and was not disqualified from contesting the election.
PEPC rejects EU’s report on 2023 poll tendered by Obi, LP
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has expunged from its records, a copy of the report on the last presidential election made by the European Union (EU) Election Observers Mission tendered by Peter Obi and the Labour Party (LP).
The court held that the document was obtained by the petitioners from its registry, which was certified by its staff who is not a person with original custody of the document that was produced by the EU mission.
The Nation recalls that the actual copy of the report was earlier tendered by Atiku Abubakar and the Peoples Democratic Party (PDP) while prosecuting their petition before the court.
The court also rejected the 18088 blurred results sheets tendered by the petitioners on the grounds that they were not tied to any polling units to which the results related, which the petitioners failed to specify in their petition.
The court held that the petitioners lied that they could not identify the polling units because the result sheets were blurred. It noted that one of the same petitioners’ witnesses actually produced a report in which he analysed the same results, which he claimed to have sourced from INEC’s results viewing platform.
It further noted that having admitted that its agents signed for and collected copies of the result sheets, the petitioners cannot claim not to know the polling units affected, but merely chose not to specify the polling units in their petition.
PEPC strikes out evidence by 10 out of Obi/LP’s 13 witnesses
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has struck out the evidence of 10 out of the 13 witnesses called by Peter Obi and the Labour Party (LP) in support of their petition against the election of President Bola Tinubu.
In a judgment, the court noted that the witnesses, who were subpoenaed at the instance of the petitioners, had their written statements, which contained their evidence, were not filed along or frontloaded with the petition within the 21 days allowed by the Electoral Act 2022.
The court, in the lead judgment currently being read by Justice Haruna Tsammani, also rejected the documents, including the report of analysis, tendered by the petitioners through the affected 10 witnesses.
The court also held that some of the witnesses are not only persons with interest in the outcome of the case, the reports they tendered were made during the pendency of the case.
PEPC strikes out parts of petition by Obi, LP for being vague
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has struck out about 17 paragraphs of the petition by Peter Obi and the Labour Party (LP) for containing vague and generic allegations.
In a ruling on some motions filed by the respondents to the petition, the court held that in the affected paragraphs, the petitioners made allegations of malpractices and irregularities in the conduct of the election, but failed to provide specific details in support of the allegations.
The court noted, for instance, that the petitioners failed to show which polling units the malpractices alleged occurred; the number of votes affected; and their polling unit agents who reported the alleged irregularities and malpractices, among others.
It rejected the respondents’ argument that Obi was not a member of the LP at the time of the election, noting that membership is an internal affair of a political party, which has the sole power to determine who its members are.
The court held that it did not lie with the respondents to question Obi’s membership of the LP.
The court also faulted the contention that Atiku Abubakar and the Peoples Democratic Party (PDP), who came second in the election, were necessary parties that ought to be joined in the petition.
Respondents to the petition are INEC, President Bola Tinubu, Vice President Kashim Shettma and the APC.
Details soon…
JUST IN: PEPC begins delivery of judgment in petition by Obi, LP
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has commenced the delivery of judgment in the petition by Peter Obi and the Labour Party (LP) challenging the victory of President Bola Tinubu in the last presidential election.
A member of the five-member panel, Justice Abba Mohammed is reading the lead judgment but first dealing with some preliminary motions, challenging the competence of some aspects of the petition.
Details shortly…
BREAKING: PEPC strikes out APM’s petition against Tinubu, Shettima, others
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has struck out the petition by the Allied Peoples Movement (APM).
The PEPC in a ruling, upheld the preliminary objections raised against the competence of the petition by the Independent National Electoral Commission (INEC), the All Progressives Congress (APC), President Bola Tinubu, Kashim Shettima and Kabir Masari.
Justice Haruna Tsammani, who read the lead ruling, held that the issue of nomination, which is a pre-election matter is outside the scope of the court’s jurisdiction, sitting as an election tribunal.
He held that the issue ought to have been raised before the Federal High Court, adding that even if it was to be heard by the PEPC, the issue is statute barred.
Justice Tsammani also held that the petitioner lacked the locus standi to have brought the petition, b cause the law did not allow a political party to query the process adopted by another political party in nominating its candidate.
The PEPC Chairman held that invalid nomination or double nomination did not qualify as a ground for disqualification in respect of presidential election as provided in sections 131 and 137 of the Constitutional.
He also held that the Masari, who was nominated as placeholder by the APC (for the position of the Vice President) was no tva necessary party to the petition because he was neither a candidate nor did he win election.
Justice Tsammani also found that Masari was not a necessary party because no claim was raised against him by the petitioner.
He is currently considering the petition on the merit.
JUST IN: PEPC begins delivery of judgment in APM’s petition
By Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has commenced the delivery of judgment in the petition filed by the Allied Peoples Movement (APM).
The APM is, in its petition, seeking the nullification of the election of President Bola Tinubu on the grounds that the Vice President, Kashim Shettma was not validly nominated.
The petitioner alleged that Shettima was not qualified to contest the last presidential election because he allegedly submitted himself for double nomination in violation of Section of 35 of the Electoral Act.
The PEPC Chairman, Justice Haruna Tsammani is reading the lead judgment.
Security operatives maintain peace at PEPT venue
A continent of a joint security team comprising the military, police and the Civil Defense arrives at the Shehu Shagari way, Federal Secretariat end of the barricade to the venue of the PEPT to maintain peace. So far, only one pro-Tinubu group is around singing victory songs and dancing while the security operative gave them a distance without harassment.
PHOTOS: APC Govs, Keyamo, others at PEPC
Tight security as Presidential Election Petition Court delivers judgment
There is tight security at the Court of Appeal Complex located in the Three Arms Zone, Shehu Shagari Way, Central Business District of Abuja, as the Presidential Election Petition Court gets set to deliver judgment.
The News Agency of Nigeria (NAN) reports that the judgment is three cases challenging the outcome of the Feb.25 presidential election.
Coming about a month after the court heard the closing arguments of parties to the petitions and about two weeks to the expiration of the statutory 180-day lifespans within which the cases filed in March must be heard and determined.
The five-member panel of the court is headed by Haruna Tsammani had reserved judgements on the petitions after hearing the closing arguments of the parties to the cases in early August.
NAN reports that all roads leading to court of the appeal complex is being manned by multiple security operatives, drawn from various arms, including the armed forces, police, men of the Department of State Service (DSS) and the Civil Defence.
The same formation has been placed within in the court complex.
The Chief Registrar of the Court, Mr Umar Bangari in a statement on Monday said that everything had been put in place to ensure that the judgment in the three petitions pending before the court were delivered hitch free.
Bangari said adequate security had been put in place and that only the invited members of political parties and the general public would be allowed into the court room.
This he said was to avoid congestion and security breaches.
He also said that media houses that wish to televise the judgment live would be allowed to do so but at no cost to the court.
NAN reports that as at 7.30 a.m., lawyers and journalists were being checked by security operatives.
NAN reports that major government buildings, including the Federal Secretariat, the National Assembly Complex and the access into the Presidential Villa were being manned by heavy security personnel.
NAN reports that petitions were filed separately by Atiku Abubakar of the PDP, Peter Obi of the
Labour Party and the Allied Peoples Movement (APM), to challenging President Tinubu’s victory.
NAN reports that Independent National Electoral Commission (INEC) had, declared Tinubu of the All Progressives Congress (APC) polled 8.8 million votes to defeat 17 other candidates in what was largely a three horse race.
Atiku polled a total of 6,984,520 votes in the election to come second, while Obi came behind Atiku with a total of 6,101,533 votes, according to INEC.
Vice President Kassim Shettima; the National Security Adviser (NSA) Mallam Nuhu Ribadu; Chief of Staff to the President Femi Gbajabiamila are among top officials who are in court awaiting the commencement of the delivery of judgment by the Presidential Election Petition Court (PEPC).
Also in attendance are the National Chairman of the All Progressives Congress (APC) Abdullahi Ganduje; Governors Bala Mohammed (Bauchi); Abdullahi Sule (Nasarawa); Yahaya Bello (Kogi); Mai Mala Buni (Yobe),; Biodun Oyebanji (Ekiti) and Hope Uzodinma (Imo).
The Minister of Aviation and Aerospace Development, Festus Keyamo is also in court, with some still coming in.
Lawyers and others waiting at the entrance of the sitting venue of the Presidential Election Petition Court (PEPC), pending when the court is opened
9: 00 am
Vice President, Kashim Shettima, Chief of Staff to the President, Femi Gbajabiamila …at the PEPC this morning 8: 59am
All Progressives Congress (APC) National Chairman, Abdullahi Ganduje and his entourage arrive at PEPT premises 8:30 am
PEPT judgement: Heavy security as supporters arrive 7:50 am
By Dele Anofi, Abuja
Some supporters have started arriving at the area of the Appeal Court Abuja where the judgment of the petitions against the election of President Bola Ahmed Tinubu is expected to be delivered today.
The supporters that arrived in about four buses were however denied access to the complex by police operatives.
The supporters were seen dancing and singing with their placards without disturbance from other road users.
Workers and pedestrians were also denied access through the barricade mounted by the men of the Nigeria police force this morning.
No armored personnel carrier was sighted but a five marked Hilux jeeps blocked both sides the dual carriage way.
Pedestrians-workers artisans and hawkers started arriving from the Federal Secretariat (Three Arms Zone) end of the Shehu Shagari way en route to their offices as early as 5.00 am.
They could not however be allowed through the barricade.
The Nation observed that the courteous policemen turned them back while encouraging them to take alternative routes to their destinations.
The workers and motorists with proof of identification within the complex of the Appeal Court headquarters were allowed access
Accredited journalists were also allowed to pass through.
The ever-busy Federal Secretariat axis was also deserted probably due to the ongoing industrial action of the Nigerian Labour Congress (NLC) at the time of filling this report
Eight key things to know ahead of Presidential Election Petition Tribunal’s final verdict
By Alao Abiodun
The Presidential Election Petition Tribunal has confirmed Wednesday, September 6, as the definite date for judgment in the three petitions challenging the declaration of Bola Tinubu as the winner of the 2023 presidential election.
The Nation understands that live broadcast of the proceedings has been approved to promote transparency.
Recall that the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, had in November 2022 sworn in 307 justices to handle the 2023 election petitions while an additional 39 justices were inaugurated on May 25, 2023, totalling 346, and they were expected to deliver judgments before September 16.
By law, the 346 justices sitting on the panels were mandated to hand down their judgments 180 days after the filing of the petitions by the aggrieved candidates.
The judges presiding over the tribunal are:
Justice Haruna Tsammani
Justice Stephen Adah
Justice Monsurat Bolaji-Yusuf
Justice Moses Ugo
Justice Abba Mohammed
At the tribunal, Chris Uche is leading the legal team of Atiku Abubakar, candidate of the Peoples Democratic Party (PDP).
Wole Olanipekun heads the legal team of Bola Tinubu, the then president-elect and candidate of the All Progressives Congress (APC), and Levi Uzoukwu is the head of team of Peter Obi, candidate of the Labour Party (LP).
Here are key titbits about the tribunal, its activities so far and what to expect;
Five political parties including the PDP, LP, Action Peoples Party (APP), Allied Peoples Movement (APM) and the Action Alliance (AA) had lodged separate petitions before the tribunal seeking to annul Tinubu’s victory.
Tinubu secured 8,794,726 votes to defeat Atiku Abubakar of the Peoples Democratic Party (PDP) who got 6,984,520, and Peter Obi of the Labour Party (LP) who polled 6,101,533 votes.
Shortly after the commencement of the pre-hearing session in May, the APP and AA withdrew their petitions.
Among several issues, the petitioners contended that Tinubu and Kashim Shettima, the vice-president, were not eligible to contest the presidential poll.
They claimed that the president was indicted in the United States, that his academic certificates submitted to the Independent National Electoral Commission (INEC) were forged, and that Tinubu is a citizen of Guinea.
The petitioners also submitted that since Tinubu failed to secure 25 percent of votes cast in the federal capital territory (FCT) he should not have been declared winner of the February 25 election.
On August 1, a five-member panel of the tribunal reserved judgment after hearing the final written addresses from counsels to Atiku and Obi.
Although the decision of the court is not final, as a displeased party can still appeal to the Supreme Court, many feel that the decision of the jurists would definitely set the tone of the final decision of the Supreme Court, either in concurrence or disagreement.
For many pundits, the election petition tribunal has three possible outcomes.
The first outcome is for the tribunal to uphold the election outcome as originally announced by INEC, the second outcome is for the election to be nullified and a fresh election ordered, while the third option is for the election result to be rejected, the initially declared winner removed and the petitioner installed as the actual winner of the election.
If the tribunal gets to determine that the election is invalid and a fresh exercise is ordered, a new exercise must be conducted by INEC not later than three months from the judgement.
If either of the petitioners or the respondents are unsatisfied with the tribunal’s judgement, they can further take their grievances to the Supreme Court.
Any judgement handed out by the apex court is final. Petitions against the outcome of a presidential election are filed at the Court of Appeal.
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JUST IN: PEPC dismisses APM’s petition against Tinubu, Shettma for lacking in merit
By, Eric Ikhilae, Abuja
The Presidential Election Petition Court (PEPC) has dismissed the petition by the Allied Peoples Movement (APM) for lacking in merit
The PEPC in a judgment, held that the petitoner failed to prove its sole ground of the petition to the effect that President Bola Tinubu and Vice President Kashim Shettma were not qualified to have contested the last presidential election on the grounds that Shettima allegedly had double nominations.
The court, in a lead judgment by the Chairman, Justice Haruna Tsammani, held that the issue about whether or not Shettma had double nomination had been effectively resolved by the Supreme Court in an earlier judgment in the case brother ght against the Independent National Electoral Commission (INEC) by the Peoples Democratic Party (PDP).
It held that there was no evidence that Shettima had double nomination as there were evidence that he effectively resigned his earlier nomination as the APC’s candidate for Borno Central Senatorial District before accepting to be nominated as the party’s vice presidential candidate.
The court further held that while the Constitution allows a presidential candidate to choose whoever he/she likes as a running made, fresh primary election was not required where a vice presidential candidate withdraws his candidacy as was the case by Kabir Masari.
Ekweremadu’s son, ex-Gov Chime’s daughter nominated as Enugu commissioners
Abiodun, AbdulRazaq, others send list of nominees to assembly
It was a busy day in the office yesterday for many of the state governors as they scrambled to beat the deadline for the submission of the names of their commissioners-to-be to the state assemblies for confirmation.
Governors Babajide Sanwo-Olu (Lagos), Dapo Abiodun (Ogun), Abdullahi Sule (Nasarawa), Peter Mbah (Enugu), Muhammadu Yahaya (Gombe) and AbdulRahman AbdulRasaq (Kwara) sent the lists of the nominees to the legislative arm just hours to the expiration of the 60 days allowed them by the Constitution.
The Lagos State list contained 39 names of politicians and technocrats while those of Nasarawa and Gombe had 17 names each.
It was 15 nominees in Enugu and 20 in Kwara.
Of note is the nomination of Lloyd Ekweremadu, son of former Deputy Senate President, Chief Ike Ekweremadu, and Ada Chukwu daughter of former Enugu State Governor Sullivan Chime, in Enugu.
Several members of the last cabinet in Lagos State are back for the new dispensation.
Topping the list are the immediate past Commissioner for Information and Strategy, Mr. Gbenga Omotoso; his Budget and Economic Planning counterpart, Mr. Sam Egube; ex-Commissioner for Health, Prof. Akin Abayomi; ex-Special Advisers to the Governor, Mr. Afolabi Ayantayo, Engr. Aramide Adeyooye and Tokunbo Wahab.
Former Commissioners Rabiu Olowo (Finance), Moyosore Onigbanjo, SAN (Justice and Attorney-General) and Yetunde Arobieke (Wealth Creation) did not make the new list.
Some of the fresh names on the list are Lawal Pedro (SAN), Dr. Oreoluwa Finnih-Awokoya, Lekan Fatodu and Idris Aregbe
Below is the full list
1. Mr. Afolabi Ayantayo
2. Mr. Jamiu Alli-Balogun
3. Mr. Rotimi Ogunwuyi
4. Mr. Gbenga Oyeriinde
5. Mr. Lawal Pedo (SAN)
6. Mr. Mobolaji Ogunlende
7. Hon. Ibrahim Layode
8. Dr. Dolapo Fasawe
9. Mrs. Toke Benson-Awoyinka
10. Olakunle Rotimi-Akodu
11. Abdulkabir Ogungbo
12. Engr. Abiola Olowu
13. Dr. Adekunle Olayinka
14. Mrs. Bolaji Cecilia Dada
15. Engr. Aramide Adeyoye
16. Mr. Idris Aregbe
17. Mr. Yakubu Adebayo Alebiosu
18. Mr. Tokunbo Wahab
19. Hon. Bola Olumegbon
20. Dr. Oreoluwa Finnih-Awokoya
21. Mr. Kayode Bolaji Roberts
22. Mr. Moruf Akinderu Fatai
23. Mr. Seun Osiyemi
24. Mrs. Barakat Bakare
25. Prof. Akin Abayomi
26. Mr. Gbenga Omotoso
27. Engr. Olalere Odusote
28. Dr. Rotimi Fashola
29. Mr. Mosopefolu George
30. Mr. Tunbosun Alake
31. Ms Ruth Abisola Olusanya
32. Mrs. Folashade Adefisayo
33. Mrs. Folashade Ambrose
34. Dr. Olumide Oluyinka
35. Mr. Yomi Oluyomi
36. Mr. Sam Egube
37. Dr. Jide Babatunde
38. Mr. Olalekan Fatodu
39. Mrs Solape Hammond
Abiodun dispatches list to Ogun Assembly
Ogun State House of Assembly Speaker Olakunle Oluomo confirmed yesterday the receipt of the list of Governor Dapo Abiodun’s nominees.
He said the Assembly received a correspondence from Abiodun requesting the confirmation of commissioner-nominees.
The governor’s correspondence dated July 27, 2023 reads: “I write once again to congratulate Mr. Speaker for your re-election into office as Rt. Honourable Speaker of the 10th Assembly and subsequent inauguration of all members of the Honourable House. I appreciate the Honourable House for the support and cooperation enjoyed during the first term of our administration.
“In furtherance of our mission in building our dear state together, Mr. Speaker, please find attached the list of nominees for the post of commissioners for your consideration.”
The names were not disclosed. Neither was the number of nominees mentioned.
It is expected that they will be read to the lawmakers at the next plenary day – Tuesday, August 1, 2023.
17 nominees make list in Nasarawa
Nasarawa State Speaker Ibrahim Abdullahi also confirmed yesterday that the legislature was in receipt of Governor Abdullahi Sule’s list of nominees for screening and confirmation as members of the state executive council.
The nominees include Aishatu Rufai Ibrahim (Awe LGA); Umar Abubakar Dan’akano (Awe); Yakubu Kwanta (Akwanga); Munirat Abdullahi (Doma); Timothy Kasuwa (Karu); Margaret Elayo (Keana); Bala Mulki (Keffi); and John Mamman (Kokona).
The rest are: Abubakar Imam Zanwa (Lafia); Aliyu Ahmed Tijjani (Nasarawa); Haruna Musa (Nassarawa Eggon); Muhammed Eyimoga (Obi); Labaran Magaji (Toto); Gaza Gwamna (Toto); Mu’azu Gosho (Wamba); Samuel Kafu Emgba (Lafia); and Ja’afaru Ango (Karu).
The speaker said that their appointments should be based on merit, integrity, prudence and wealth of experience.
He told the nominees to submit 30 copies of their curriculum vitae to the Assembly not later than Monday, July 31, and should appear for screening on Tuesday, August 1.
The lawmakers also approved the governor’s request for appointment of 20 special advisers.
The speaker announced the approval during the emergency sitting.
He said that the approval was to enable the governor to appoint advisers who would help him to drive his administration’s policies.
Ekweremadu’s son, ex Gov Chime’s daughter, make Enugu commissioners list
Prominent among the 15 nominees of Governor Mbah are Chief Ike Ekweremadu’s son, Lloyd and ex Gov Sullivan’s daughter, Ada Chukwu.
Also in the list, which was signed by the Secretary to the State Government, Prof. Chidiebere Onyia, and read on the floor of the House by Speaker Uche Ugwu yesterday, were the names of a veteran broadcaster, Aka Eze Aka, Prof. Ndubueze Mba, Mrs Ngozi Eni, Prof. Sam Ugwu, Chika Ugwoke and Dr Kingsley Ude.
Others are former commissioners Prof. Emmanuel Obi and Deacon Okey Ogbodo as well as Mrs Ugochi Madueke, Dr Malachy Agbo, Gerrald Otiji, Nathaniel Urama and Prince Lawrence Ezeh.
Onyia, in the letter, said “while this may not be the exhaustive list, I’m optimistic that this request will receive your usual expeditious consideration.”
Speaker Ugwu directed the clerk of the house to ask the nominees to submit 25 copies of their curriculum vitae each to the clerk’s office not later than Tuesday, August 1, 2023, and appear for interview in the house by 10am on Thursday, August 3.
Gombe beats deadline, reduces no of ministries to 21
Gombe State Governor Muhammadu Yahaya’s list of 17 commissioner-nominees was delivered to the Clerk of the Assembly, Rukaiyatu Jalo, by the Secretary to the State Government, Prof. Abubakar Njodi.
The names were then read to the lawmakers by Speaker Abubakar Luggerewo.
Five members of the last cabinet were nominated.
They are: Habu Dahiru (Health); Zubairu Umar (Attorney General); Aishatu Maigari (Education); Gambo Magaji (Finance); and Nasiru Aliyu (Trade and Investment).
Other nominees are: Chairman Gombe Internal Revenue Service Salihu Alkali; former chairperson House Committee on Women Affairs Asma’u Ignanus; Abdulkadir Mohammed Waziri; Adamu Inuwa Pantami; Barrister Zubairu Umar; Mijinyawa Ardo Tilde; Mohammed Shetima Gadam; Mohammed Gambo Magaji; Asma’u Iganus; Mohammed Saidu Fawu; Aishatu Umar Maigari; Salihu Baba Alkali; Dr Habu Dahiru; Nasiru Aliyu; Barrnabas Malle; Mai jama’a Kallamu; Lt. Col Abdullahi Bello(rtd); Sanusi Ahmed Maidala; and Dr Abdullahi Bappah Garkuwa.
Meanwhile, the report of the 2023 Transition Management Committee chaired by Dr Ibrahim Daudu, on 17th July, 2023, recommended that the governor should reduce the number of ministries.
In 2019, Yahaya reduced the number of ministries from 27 to 21.
AbdulRazaq sends 20 names of nominees to Kwara Assembly for confirmation as commissioners
Also yesterday, Kwara State Governor AbdulRaman Abdulrazaq forwarded 20 names of commissioner-,nominees to the State House of Assembly for confirmation.
The governor also sought legislative approval for the appointment of 10 special advisers to work with him in various capacities, media aide to the Assembly Speaker Yakubu Danladi, Sheu Yusuf said.
The statement said that “Honourable House will diligently attend to His Excellency’s request in due course.”
A special meeting of the National Working Committee (NWC) of the ruling All Progressives Congress (APC) will be held today in Abuja.
The committee is most likely to reschedule the postponed National Caucus and National Executive Committee (NEC) meetings of the party for Wednesday and Thursday.
The Nation gathered yesterday that the NWC will present the agenda for the NEC meeting to President Bola Tinubu tomorrow.
A key component of the proposal, according to an NWC member, is the recommendation of former Kano State Governor Abdullahi Ganduje and ex-Senate Spokesman Ajibola Basiru as acting chairman and secretary respectively of the ruling party
Another major part of the agenda is the reviewed membership of the party’s five statutory committees. This will also be presented to the NEC next week.
Today’s meeting will also discuss the recent development in the NWC following yesterday’s resignation of Salihu Lukman as the national vice-chairman (Northwest).
The NWC source said: ”The NWC meeting on Thursday(today) will take far-reaching decisions on the postponed National Caucus and NEC meetings. We are to prepare an agenda that will be presented to the President on Friday for both Caucus and NEC meetings.
“The meeting will also be reviewing the lists of memberships of the five statutory committees to be presented to NEC for approval at its next meeting.
”From the proposal by the Secretariat, which we shall deliberate on tomorrow (today), the NWC is proposing 2nd and 3rd August for the Caucus and NEC meetings which shall be presented to the President by the Acting Chairman and acting Secretary tomorrow at the Villa.”
On Lukman’s resignation, he said: “Some of us were shocked by the development. I know it will be one of the major things that we (NWC) shall discuss today.”
In his letter of resignation sighted by The Nation yesterday, Lukman said his decision was because “the atmosphere in the party is completely at variance with the founding vision of forming a progressive party.”
A part of the one-page letter reads: ”Rather than remaining in the leadership of the party and becoming a source of distraction for leaders and especially for the young government of President Bola Tinubu, it is better to excuse myself and take time off from politics.
“I will however retain my membership of the party in the hope that our leaders, especially President Bola Tinubu will retract from acts that will be unjust and illegal, which is crucial to any claim of being democratic or progressive whether as politicians or as patriotic Nigerians.
“I do hope all our leaders will appreciate that I am left with no option in the circumstance. I wish the party and all our leaders, especially President Tinubu all the best and will continue to give my modest support towards the success of the party from the background.”
The Department of State Services (DSS) yesterday said it had begun probing Tuesday’s brawl between its personnel and officers of the Nigerian Correctional Service (NCoS) at the Federal High Court in Lagos.
The secret police has been under fire following videos showing it roughing up an NCoS Commander after the court granted suspended Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele bail.
The agency re-arrested Emefiele after forcibly preventing the NCoS from enforcing the order of Justice Nicholas Oweibo remanding the banker at the Ikoyi Correctional Centre, Lagos.
Spokesman of the Service, Dr. Peter Afunanya, in a statement, described the incident as unfortunate, saying the DSS was a professional organisation.
He added that the Service had respect for the judiciary and would not undermine it.
But Afunanya insisted that the DSS had not broken any laws in handling Emefiele’s case.
He said: “While noting that the personnel from both agencies exhibited undue overzealousness, the Service has further initiated detailed investigations into the matter.
“This is with a view to identifying the role played by specific persons as well as undertaking disciplinary actions if necessary and drawing some lessons going forward.
“For emphasis, the DSS has not broken any laws in handling the Emefiele case despite efforts by some elements to skew the narratives to the contrary.
“The Service had since alerted the public of sinister plots to discredit its leadership.”
But the Nigerian Bar Association (NBA), former Ekiti State Governor Ayo Fayose and other stakeholders condemned the incident and called for prompt action against security agents responsible.
NBA President, Yakubu Maikyau (SAN) described the incident as “despicable”, “shameful and disgraceful”, saying it was “evidence of the lack of discipline and absence of professionalism that continues to plague key security institutions in Nigeria.”
Maikyau warned in a statement that “A situation where officers of Federal Government agencies engage in a fight as witnessed by the public, for whatever reason, is antithetical to our security as a nation and creates a recipe for anarchy and chaos.
“The NBA further condemns the brazen disrespect for the sanctity of the court premises.
“The courts and judicial processes remain the barometer by which the conduct of persons or agencies of government are gauged in assessing the rule of law.”
He called for immediate disciplinary measures against the officers involved and an overhaul of their institutions and personnel.
A former NBA Vice President, Mr. Monday Onyekachi Ubani accused the DSS of disobedience to court orders and urged President Bola Tinubu to enforce the rule of law.
Ubani, in a statement, said: “Their (DSS) penchant and impunity in disobeying court orders need the bold condemnation of the Nigerian Bar Association to nip their contempt for the rule of law in the bud.
“We do not need to patronise them at all as they are hell-bent on destroying the rule of law and by extension our hard-won democracy.
“I believe that President Bola Tinubu’s government owes Nigerians the onerous responsibility to toe the line of rule of law and obedience to court orders under his government.”
Emefiele’s brother, George, also condemned the fight over custody of the embattled CBN chief, saying it was a disgrace.
George said: “It is unfortunate that this is happening in Nigeria, a democratic nation that is blessed with people of integrity.
“Three courts have said release him on bail, he is not running away, he served this nation for nine years, all his life was in Nigeria here.
“You can imagine where two Federal Government apparatuses are fighting themselves. This is a disgrace to this nation.”
“The court has given its order, obey the court. If you have anything (against the order), go to court. You have gone to a magistrate’s court to collect an order, yet you are not obeying a high court order. This is completely wrong, it is insane!”
Fayose, in a Twitter post, demanded that the DSS personnel that participated in the “show of shame should be promptly brought to book. More so that it happened within the sacred premises of the court.
“Most importantly, restructuring of the organisation is imperative for a Nigeria that is desirous of deepening democratic governance.”
Activist-lawyer Inibehe Effiong also faulted the DSS, statutorily known as the State Security Service (SSS), for disregarding a court order.
He tweeted: “Section 287 (3) of the Constitution is clear. The order of the Federal High Court has binding force on all authorities and persons throughout the Federal Republic of Nigeria. Once a court has made a positive pronouncement, it takes immediate effect.
“The order of Justice Oweibo remanding Godwin Emefiele cannot be subjected to any administrative review or process…
“The SSS had no justification in law for their irresponsible action. Assuming without conceding that the SSS has a fresh charge or case against Emefiele, they should have first obeyed the order of Justice Oweiwo.
“Emefiele has been in their custody for a long time. Whatever case(s) they have against him should have been investigated and concluded by now.
“If they wanted to arraign him afresh, all that they needed to do was to file the fresh charge, apply for a production warrant from the court and cause it to be served on the Correctional Service who will then produce Emefiele in court to answer to the fresh charges.
“The Gestapo conduct of the SSS is consistent with their shameful history of lawlessness.”
Effiong said while Nigerians want accountability, “this must be done without desecration of the judiciary; the same judiciary that will have a final say on whether Emefiele is guilty or not”.
International outcry yesterday trailed an attempted coup by Niger Republic’s presidential guards.
They surrounded the presidential palace in a move to remove the country’s democratically elected President Mohamed Bazoum.
Niger Republic’s presidency said the guards had started an “anti-republican” movement “in vain” and that Bazoum was well.
The African Union (AU) and the Economic Community of West African States (ECOWAS) leaders called the actions of the presidential guards men as an effort to unseat Bazoum, who was elected president two years ago in Niger’s first peaceful and democratic transfer of power since its independence from France in 1960.
Reacting to the development, President Bola Ahmed Tinubu, who is also the chairman of the Authority of the Heads of State and Government of the ECOWAS Commission, in a statement he personally authored, said he was already in touch with other leaders within the region over the situation.
Promising that ECOWAS will do everything possible to ensure that the hard-earned democracy of the people of Niger is preserved, he re-echoed the focus of the sub-regional body to ensure that the constitutional order is preserved and defended across the region.
“Information filtering in from the Republic of Niger indicates some unpleasant developments around the country’s highest political leadership.
“It should be quite clear to all players in the Republic of Niger that the leadership of the ECOWAS Region and all lovers of democracy around the world will not tolerate any situation that incapacitates the democratically-elected government of the country.
“The ECOWAS leadership will not accept any action that impedes the smooth functioning of legitimate authority in Niger or any part of West Africa.
“I wish to say that we are closely monitoring the situation and developments in Niger and we will do everything within our powers to ensure democracy is firmly planted, nurtured, well-rooted and thrives in our region.
“I am in close consultation with other leaders in our region, and we shall protect our hard-earned democracy in line with the universally acceptable principle of constitutionalism.
“As the Chairperson of ECOWAS Authority of Heads of State and Government, I state without equivocation that Nigeria stands firmly with the elected government in Niger and equally conveys the absolute resolve of leaders in our sub-region that we shall not waiver or flinch on our stand to defend and preserve constitutional order,” the President said.
Tinubu also yesterday dispatched Benin Republic President Patrice Talon to Niamey to unravel the situation.
The Chairperson of the AU Commission, H.E. Moussa Faki Mahamat, while condemning the attempted coup d’état, said in a tweet: “Informed of an attempt by certain members of the military to undermine the stability of democratic & republican institutions in #Niger, tantamount to an attempted coup d’état, strongly condemns such actions.”
United Nations Secretary-General Antonio Guterres also rejected any effort to seize power by force in Niger and called on all actors to exercise restraint. The United States, France and the EU also flayed the power grab.
The Department of State, in a statement by its spokesperson, Matthew Miller, called for the release of President Bazoum.
It urged the plotters to respect the rule of law and public safety.
Miller added that it was monitoring the situation and aligned itself with the action by the ECOWAS.
White House National Security Advisor Jake Sullivan said: “We strongly condemn any effort to detain or subvert the functioning of Niger’s democratically elected government, led by President Bazoum.
”We specifically urge elements of the presidential guard to release President Bazoum from detention and refrain from violence.”
Since the beginning of 2021, there have been military seizures of power in Chad, Guinea, Mali (twice), Sudan and (in early 2022) Burkina Faso. In March 2021, a coup attempt was reportedly foiled in Niger.
A tweet from the account of Niger’s presidency reported that members of the elite guard unit engaged in an “anti-Republican demonstration” and unsuccessfully tried to obtain support from other security forces.
It did not refer to it as a coup and said Bazoum and his family members were doing well.
The tweet warned that Niger’s Army and National Guard “are ready to attack” if those involved in the action did not back down.
President Tinubu yesterday met with his Beninese counterpart, Talon, at the Presidential Villa, Abuja, concluding that the Benin President immediately proceeded to Niger on an intervention mission.
Speaking to journalists after the meeting with Talon, President Tinubu affirmed that the meeting had to do with the political unrest in Niger, adding that the Benin President was heading to the troubled nation already.
Asked what the meeting was all about, the Nigerian President said it was on the situation in Niger.
Asked if the sub-regional commission would launch an immediate action on the development of planning towards it, Tinubu said: “He’s (Talon) going there now; he’s on his way to the Niger Republic.”
Also speaking in French to journalists, the President of the Benin Republic said he came for the meeting to reason with President Tinubu on the development in their mutual neighbour’s territory so that the situation is rapidly dealt with.
According to him, steps would be taken swiftly, starting immediately, to restore constitutional order in Niger.
“I am here with President Tinubu because of the situation for the ECOWAS and President Tinubu, who is President of Nigeria, Niger’s neighbour, with President of Benin, equally Niger’s neighbour, so we take things seriously and act rapidly.”
“I believe all the means will be employed, as needed, for constitutional order to be re-established in Niger, but the goal is for there to be peace and unity.
“So, as the President has already said, the mediation actions will be reinforced even starting this evening, so that the situation is regulated peacefully,” Talon said.
Bazoum’s administration has made Niger a key Western partner in the fight against Islamist extremism, which has wracked the country’s west. In the decades before his election, Niger had multiple coups, and the president thwarted an attempted coup days before he was sworn into office.
Streets surrounding the presidential palace in the capital, Niamey, were blocked off yesterday, as were some government ministries. By early evening, hundreds of people showed up to demonstrate in support of the president. Shots were fired at the protest, although it was not immediately clear by whom.
There was a military buildup outside the headquarters of the state radio and television networks. Pickup trucks mounted with machine guns lined the roads to both buildings, with members of the army and National Guard waving cars through.
Agencies reported seeing around a dozen reinforcements from the National Guard to protect the radio network. Some international security forces operating in the country were ordered put on lockdown.
The streets in Niamey were bustling like usual, with many residents refusing to discuss the situation until there was more clarity.
Security analysts said another coup attempt would worsen regional instability.
The recent fiscal and monetary changes have rekindled hope about the prospects of a brighter economic climate in the past two months among foreign investors, it was learnt yesterday.
Latest report on foreign portfolio investments (FPIs) released by the Nigerian Exchange (NGX) showed an all-positive mark for the investment market, with increased transactions by foreign and domestic investors.
Foreign portfolio investors were also retaining more funds in the Nigerian market, reversing the negative situation in the previous months when there were more outflows than inflows.
Total foreign transactions rose by 70.1 per cent in the second quarter of 2023 as against the first quarter, driven by 197.5 per cent increase in inflows.
FPIs net status- the difference between outflows and inflows-changed from a deficit of 49 per cent in first quarter to a surplus of 43.9 per cent in second quarter.
The performance in the second quarter was driven largely by a dramatic recovery in foreign interest in May, which continued in June, supporting equally ecstatic performance by domestic investors.
The NGX noted that the positive market performance came “amid the bounce of a new administration and raft of changes in government policies”.
The report indicated that retail domestic transactions increased by 40.70 per cent from N88.50 billion in May to N124.52 billion in June 2023, showing that more individual Nigerians were optimistic about the economy despite the immediate challenges that greeted major policy changes. Institutional composition of the domestic market increased by 19.9 per cent from N197.26 billion in May 2023 to N236.49 billion in June 2023.
Market analysts were unanimous that the stock market performance has been in response to President Bola Tinubu’s policy direction, with a consensus that the direction would significantly uplift the economy and drive foreign and domestic investments in Nigerian assets.
Tinubu, sworn in on May 29, 2023, has in less than two months started the implementation of key policy initiatives, including the removal of the hemorrhaging petrol subsidy, abolition of multiple foreign exchange windows that saw almost 300 basis points arbitrage between official and parallel market rates and introduction of a comprehensive food security plan that aims at achieving self-sufficiency and enhancing non-oil exports as major source of forex.
Total FPIs transactions rose from N53.71 billion in first quarter to N91.37 billion in the second quarter. FPIs inflows tripled from N18.12 billion in first quarter to N53.9 billion in the second quarter. Total FPIs outflows, which had stood at N35.59 billion against inflow of N18.12 billion in first quarter, was less significant at N37.47 billion against an inflow of N53.9 billion in the second quarter.
Month-on-month analysis showed that total transactions at the NGX rose by 26 per cent from N322.92 billion in May 2023 to N406.75 billion in June 2023. Total foreign transactions increased by 23 per cent from N37.16 billion in May to N45.74 billion in June. Total domestic transactions remained upbeat, rising from N285.76 billion in May to N361.0 billion in June 2023.
The dearth of foreign inflows has been identified as one of the main reasons for Nigeria’s foreign exchange (forex) crisis, which reached a peak in April 2023.
The FPI report, coordinated by the NGX, included transactions from nearly all custodians and capital market operators and it is widely regarded as a credible measure of FPI trend.
The report uses two key indicators-inflow and outflow-to gauge foreign investors’ mood and participation in the equities market and the economy. While inflows and outflows indicate direction of portfolio transactions, total FPI measures the momentum and level of participation.
When inflows outweigh outflows, it simply means foreign investors are buying more quoted equities than they are selling and when outflows outpace inflows, it implies that foreign investors are selling more of their investments than buying more investments. Thus the position of FPI surplus or deficit.
NGX pointed out that “total foreign transactions in the first four months of 2023, stood at N62.18 billion owing to the soaring inflation, prolonged foreign exchange (forex) scarcity as well as uncertainties building up to the 2023 elections”.
The Nation had reported a dramatic recovery in FPIs from a record low in April to its highest level in one and half years in the immediate period of Nigeria’s political transition in May 2023.
The report, for the period ended May 2023, showed that total FPIs increased from a record low of N8.47 billion in April 2023 to N37.16 billion in May 2023, its highest since June 2022. The total FPI in April was the lowest in recent years amidst anxieties over the political transition.
FPI inflows- which represent the buy side of the transactions, jumped from a record low of N3.67 billion in April 2023 to N27.51 billion in May 2023, its highest since November 2021. FPI outflows- the sell side, recorded a slower increase of 101.04 per cent from N4.80 billion to N9.65 billion.
Nigerian stock market had launched into a major rally on the first trading day after the May 29, 2023 inauguration, with net capital gains totaling N1.51 trillion, its highest gain in a day in two and half years. The benchmark index for the market, the All Share Index (ASI), posted average return of 5.23 per cent, its highest gain since November 12, 2020.
The gain by ASI, a value-based index that tracks all quoted shares at the NGX, was equivalent to N1.51 trillion. The rally, on the first trading day after Tinubu’s inaugural address, had pushed average year-to-date return for Nigerian equities to 8.77 per cent, putting Nigeria back on the world’s chart of top stock market returns. Aggregate market value of all quoted equities had crossed the N30 trillion mark to N30.349 trillion on the first post-inauguration trading day, as against N28.844 trillion recorded as opening value.
The Independent National Electoral Commission (INEC) yesterday said that sensitive and non-sensitive materials used for the 2023 general election were printed in the country.
The electoral agency also clarified that it did not receive direct funding from development partners during the polls.
INEC Chairman Prof. Mahmoud Yakubu, who spoke at a post-election review meeting with civil society organisations in Abuja, said only 67 of 228 observers have submitted their reports to the commission.
According to the civil society groups, reforms and technological innovations introduced by INEC reinforced the credibility of the elections.
Yakubu, who maintained that the agency never received any direct funding from any development partner, said indirect funding only came from civil society organisations and implementing partners working on the elections.
However, he did not disclose the identities of the organisations and partners.
Yakubu disclosed that for the first in 44 years, ballot papers and other sensitive materials for the election were printed locally.
He also said that funds spent by the commission were provided by the Federal Government through the appropriate budgetary channel.
He, however, expressed concern that of about 228 local and international observers accredited to monitor the elections; only 67 have submitted their reports. This represented about 30 percent of the observers.
Yakubu said: “It is necessary to seize this opportunity to correct the impression in some sections of the public that the commission received huge sums of money from development partners for the election. On the contrary, and for the avoidance of doubt, the commission did not receive any direct funding or cash support from international development partners.
“Rather, their support was totally indirect through civil society organisations and implementing partners working on elections.
“Indeed, it has been a longstanding policy of the present Commission not to receive direct funding and cash transfers from sources other than the Federal Government of Nigeria. We hope that we shall continue to have this type of productive partnership with civil society and development partners in the future”.
The chairman said since the 2019 general election, the commission has worked together with the National Assembly, civil society organisations and other stakeholders for the improvement of the electoral process.
He said: “We were meticulous in our preparations for the election and there have been many positive developments in this regard. One area is the repeal and re-enactment of the Electoral Act 2010 into the Electoral Act 2022.
“The new law provides a period of 180 days for political parties to conclude their primaries and submit the names of candidates and the political parties took advantage of it for the 2023 general election. This enabled the Commission to commence the process of producing the sensitive materials for the election in good time.
“I am glad to report that the printing of all sensitive and non-sensitive materials for the 2023 General Election was entirely done in Nigeria.
“This is the first time in 44 years since the transition to democratic rule in 1979 that this great step was taken and achieved, in spite of the record number of 93.4 million registered voters and over five hundred million ballot papers, result sheets and other documents for the five categories of the main elections and supplementary polls.
“For this reason, the 2023 General Election was held as scheduled for the first time in the last four electoral cycles without a postponement arising from the non-arrival of materials.
“We were also able to expand voter access to polling units for the first time since the initial delimitation exercise in 1996. Similarly, we introduced many technology-based innovations, including the physical registration and online pre-registration of voters using the INEC Voter Enrollment Device (IVED, the various portals for the nomination of candidates, party agents and the accreditation of observers and the media.
“We also collected and published data on the distribution of voters not only by age and occupation but also by disability. Within the limits of available resources, we also tried to provide such inclusivity materials as braille jackets and magnifying glasses for some categories of voters with disabilities.”
Yakubu acknowledged the challenges associated with the conduct of the election.
He said: “The severe cash and fuel situations were compounded by the perennial insecurity nationwide. Their impact on our deployment plans, compounded by the behaviour of some of our own officials in the field, made logistics management particularly challenging.
“The deployment of thugs by some political actors made election day administration difficult in a number of places. While voter accreditation using the Bimodal Voter Accreditation System (BVAS) was very successful, the uploading of results to the INEC Result Viewing Portal (IReV), especially for the presidential election, encountered a glitch as explained in our statement released by the Commission on 26th February 2023.
“The commission is aware that this matter is currently the subject of litigation and would reserve its comments for now. Nevertheless, the performance of the technology deployed for the election is part of the ongoing review of the 2023 General Election.
“It will form an integral part of the comprehensive report that will serve as a basis for further engagement with stakeholders focusing on specific actions necessary for the improvement of future elections and electoral activities in Nigeria”.
Yakubu said it was in line with the partnership existing between the commission and civil society organisations that it received feedback and actionable recommendations from accredited observers.
He said: “For the 2023 general election, the commission received 538 requests (504 domestic and 34 foreign) for accreditation as observers. After a thorough evaluation of the requests, only 228 groups (190 domestic and 38 foreign) met the requirements for accreditation.
“However, so far, only 67 observer groups (62 domestic and five foreign) have so far submitted their observation reports which represents just about 30% of the accredited groups for the election. We urge all accredited observer groups that are yet to submit their reports to do so in earnest.”
Representative of Centre for Transparency and Advocacy, Faith Nwadishe, commended the commission for taking steps to prosecute some of its officials involved in the attempt to subvert the elections.
She expressed concern about the role played by the political class in undermining elections in the country.
Nwadish said while the CSOs were conscious of the fact that some issues, including the issue of the INEC Election Viewing (IREV) portal were before the tribunal, they would want to know what actually went wrong without dwelling on the issues in court.
Civil Society Organisations’ Central Coordinating Council and Chairmen of political parties said technological innovations and reforms introduced by INEC reinforced the credibility of the election.
They praised Yakubu for the reforms.
The communique at the end of a one-day meeting was signed by the National Chairman, Action Alliance, Barr Kenneth Udenze; National Chairman, Action Peoples Party, Barr Uchenna Nnadi; National Chairman, National Rescue Movement, Chief Isaac Udeh; National Chairman, Zenith Labour Party, Dan Nwanyawu; National Chairman, Accord, ALawal Nalado and
Chairman, Partners for Electoral Reforms, Ezenwa Nwagwu.
The communique reads: “The Roundtable observed that in the House of Representatives, members from minority parties are in the majority in the House showing a truly representative House as voted by the people. The Roundtable agrees that this speaks directly to the integrity and credibility of the election and commended the commission for performing well in this regard.”
The politcal parties criticised the election observation report of the European Union, saying it fell below standard.
They wondered how the EU could rely on the report of a few observers deployed in a handful of urban centres to be representative of the almost 180, 000 polling units in the country.
The communique added: “The Political Roundtable reviewed the technological innovations introduced by the Commission including the Bimodal Voters Accreditation System (BVAS) and the INEC Result Viewing Portal (IREV) and commended both innovations as having helped to strengthen the integrity of the elections.
“The Political Roundtable reviewed the pre-election internal discipline mechanism adopted by INEC which helped reduce internal wrangling within the political parties and the tendency for factionalisation of the political parties.
“The Political Roundtable reviewed the pre-election processes by the political parties and agreed that political parties and political actors were responsible for a vast majority of the tension and concerns about the election and INEC conducted itself creditably in this area.
“The Political Roundtable reviewed the preparations and pre-election logistics deployment by INEC and agreed that the Commission was punctual in meeting up and completing all its activity checklist on schedule including logistics deployment of non-sensitive and sensitive materials.
“The Political Roundtable reviewed the role of the BVAS and the IREV in the electoral process and commended the roles the deployment of both innovations is playing in the various tribunals to prove the actual outcomes of the elections.”
It said yesterday that households consume 68 per cent of electricity produced by the Nigerian Electricity Supply Industry (NESI).
Industries ought to consume more if investments in the sector are to yield returns because households cannot pay for increased supply, the commission noted.
For the sustainability of the sector, experts say electricity supply to industrial customers, who use the energy for production and wealth creation, is more viable than supplying to households.
This, they said, is because individual homes can neither take advantage of improved power supply to raise productivity levels nor stand the pains of a tariff increase.
But the illogical skew of more supply of power to households than industrial customers is because the energy is not even enough to meet household demands.
The shunning of DisCos by industries may not end soon, a situation that Nigerian Consumers Protection Network President, Kunle Olubiyo, attributed to simple economics.
According to him, the national grid has consistently hiked its unit cost of energy per kilo per hour.
He noted that bulk users are not getting value for their money as the grid is neither stable nor reliable.
Olubiyo said: “It is simple economic sense. The grid has continued to increase in unit cost of energy per kilowatt hour without addressing the issues of system stability and reliability.
“Offtakers aren’t getting value for money, and there aren’t sustained improvements in quality of efficient service delivery.
“The national grid could be said to have reached a point price of equilibrium.
“We may soon witness an energy grid dump associated with supply that may be rejected by bulk users/industrial customers due to lack of competitive prices.”
On DisCos’ supply of 68 per cent of their energy to households, the Abuja Electricity Distribution Company (AEDC), said it may not be the same everywhere.
Its Chief Marketing Officer, Mr. Donald Etim, believes NERC must have based its assessments on a national computation.
“The dynamics within our areas will not be the same as that in Kaduna or Enugu or Lagos. It will not be the same everywhere.
So, there must be something they (NERC) considered before bringing out like a straight line statistics,” he said.
It’s difficult to boost power with majority going to households
NERC explained that there is a limit to what households can spend on electricity from their budget when there is a supply or tariff is increased.
Planning Research and Statistics (PRS) Commissioner, Dr. Yusuf Ali, who was represented by Abdulsalami Yusuf, spoke at the Renewable Energy and Energy Efficiency Association’s Alliance (REEEA-A) international conference in Abuja.
Lamenting the illiquidity in the sector, he said electricity supply is dependent on the capacity to pay for it.
He insisted that it is impossible to boost supply while supplying power to only households.
Yusuf said: “Currently, 68 per cent of our generation goes to the household. What is the electricity level of household consumption?
“There is a limit to what they can pay when you increase tariff or when you increase supply.”
Yusuf stressed that when industrial customers consume electricity, it culminates in additional production and the creation of wealth that can pay for the electricity.
“If you have industrial users consuming your power, the more they consume, the more they produce, they make more money, they make more production and they can pay for it.
“That is why electricity is more viable when you have more industrial customers,” he said.
The NERC chief urged states to use the new electricity law as a game changer to create industrial clusters and feed them with power while working to attract Foreign Direct Investment (FDI).
Nigerian Bulk Electricity Trading Company (NBET) Plc, Managing Director, Mr. Nnaemeka Ewelukwa said there is currently a 16,000MW demand gap for the NESI to meet.
According to him, the country now supplies between 4,000MW to 5,000MW to the consumers, although the energy demand is 20,000MW.
The 16MW gap, he said, is bridged with electricity generation from petrol and diesel generators.
Citing the Transmission Company of Nigeria (TCN) studies, the NBET boss said: “Looking at the statistics, we know that the grid currently carries about 4,000MW to 5,000MW of electricity.”
Ewelukwa urged the stakeholders to bridge the gap with power from renewable energy, especially with the hike in the cost of petrol and diesel.
According to him, only about 26 per cent of rural dwellers have an electricity supply while 74 per cent are left without energy.
Ewelukwa called for a partnership between the states and the Rural Electrification Agency (REA) and fill the power gap.
Ex-chair: deploy AI to reduce energy depletion
Also yesterday, a former NERC chairman, Prof. James Momoh, called for the deployment of Artificial Intelligence (AI) to ameliorate the depletion of primary energy resources (oil and coal) due to increased utilisation by the transportation sector.
He also advocated the use of AI to minimise the adverse impacts of greenhouse gases on agriculture.
Momoh spoke at the 12th edition of the International Conference on Energy and Power Systems Operations and Planning (ICEPSOP 2023), which began in Abuja yesterday.
Its theme is: “Empowering reliable power delivery using AI and emerging technologies: a case for United States of America and Africa.”
Momoh, who is the Director of the Center for Energy Systems and Control at Howard University, believes that AI and other emerging technologies would enhance reliable power delivery if policies are integrated.
The keynote speaker, Prof Peter Onwualu, noted that since energy affects all sectors of the economy, the government can only deliver on the social contract if it finds a sustainable solution to the energy and power conundrum.
The Senate will push forward the commencement of its annual vacation to enable it screen ministarial nominees, it was learnt yesterday.
The list is being expected from the office of the President early next week.
A principal officer told The Nation that the Senate, due to proceed on recess July 27 till September, will be ready to sit everyday to ensure clearance of ministers, even if it means extending start of the recess by one week.
But Committee Chairman on Media and Public Affairs, Yemi Adaramodu, said the Senate had enough time left to consider the President’s request before embarking on the extended break.
He said: “No date has been announced for the commencement of legislative annual recess, so the question of a shift does not arise.
“There is still ample time to present and screen ministerial nominees.
“Let us be patient with the government so that Nigerians can have the best.
“The National Assembly shall surely do the needful, as appropriate and Nigerians won’t be disappointed.”
