Tag: lose

  • Investors lose N4tr in three years

    Investors lose N4tr in three years

    Capital market investors  lost about N4 trillion in the last three years as  equities closed last year  with a full-year net capital loss of N604 billion.

    The unprecedented three-year losses brought most shares at the Nigerian Stock Exchange (NSE) to their lowest prices as investors grappled with foreign exchange (forex) crisis, decline in income and investments, high interest rate and soaring inflation.

    The stock market has been on a losing streak since 2014, though this has successively moderated over the years. Investors lost N1.75 trillion in 2014 and followed this with another loss of N1.63 trillion in 2015.

    Against the expectation that political transition and new government will quicken a rebound, equities closed with a net capital loss of N604 billion last year.

    Aggregate market value of all quoted equities on the NSE closed the year at N9.247 trillion as against N13.226 trillion recorded at the start of trading in 2014, representing a net capital loss of N3.98 trillion.

    Yearly analysis showed that the average return for last year stood at -6.17 per cent, equivalent to net capital loss of N604 billion. The All Share Index (ASI), the value-based common index that tracks prices at the NSE, closed 2016 at 26,874.62 points as against its opening index of 28,642.25 points for the year.

    Aggregate market value of quoted equities also dropped from year’s opening value of N9.851 trillion to close at N9.247 trillion.

    Nigerian equities have writhed under sustained losses in recent years. Aggregate market value of all quoted equities on the NSE closed 2015 at N9.851 trillion as against its opening value of N11.478 trillion for the year, representing a loss of N1.627 trillion.

    The ASI, which serves as sovereign equities index for Nigeria, indicated a negative full-year average return of -17.36 per cent. It closed 2015 at 28,642.25 points as against its opening index of 34,657.15 points.

    The losses in 2015 worsened the downtrend that had in 2014 marked out Nigerian equities among the worst-performing stocks globally with average full-year decline of 16.14 per cent. Aggregate market value of all quoted equities had closed 2014 at N11.478 trillion as against its opening value of N13.226 trillion for the year, indicating a loss of N1.75 trillion.

    Analysts at Afrinvest Securities said the low foreign exchange liquidity that plagued the economy in the year contributed to the decline at the stock market as investors, especially foreign portfolio investors, were wary of being trapped within the forex illiquidity.

    Analysts also noted that weaker domestic macroeconomic fundamentals and high discount rate pressured earnings of companies and weighed on investors’ sentiment.

  • ‘African insurers may lose $1b on mega ships’

    African insurance industry may need to prepare for over $1 billion loss in future due to piracy attacks on mega ships, Allianz Global Corporate & Specialty, has said.

    Allianz made this known at the African Insurance Organisation Conference in Marrakesh, Morocco while briefing journalists on key findings of the Allianz Safety & Shipping Review 2016 report.

    In the report, Allianz said that progress continues on piracy in Africa with incidents down in Nigeria and Somalia. It noted that although piracy risk remains high, attacks continue to increase in South Asia.

    The report said: “Crew kidnapped and held for ransom, doubled to 19 in 2015 with all the result of five attacks off Nigeria. During 2015, risks to shipping in the Middle East Gulf and surrounding waters escalated as politically-charged disputes took hold.

    “In Yemen, the ongoing war and blockades had not affected ships sailing through the Gulf of Aden at time of writing, but calls at the country’s ports had been curtailed, with Aden accepting a fraction of the calls it handled before the dispute. In North Africa, the Egyptian Armed Forces officially declared a “state of war” in July 2015. Again, the war and disputes there had not had a notable effect on shipping, but with Egypt’s control of the critical shipping point, the Suez Canal, shipping is keeping a watchful eye on events in this country.

    “Operators must remember that the provision of war insurance does not mean that the taking of cargo from this area is safe; insurance should not be viewed as a safety blanket. The industry may need to prepare for a $1billion+ loss in future due on mega ships.

    “Cyber-attacks on the shipping industry are often under-reported as companies opt to deal with breaches internally for fear of worrying stakeholders.”

  • We do not want to lose any game-Michael Ibe

    We do not want to lose any game-Michael Ibe

    The 2016 Nigerian Professional Football League would see the first light of day this weekend, players, coaches and club administrators are looking to better their lot from the last season.

    Former Abia Warriors and now Akwa United player Michael Ibe is confident that the Akwa United side he joined this season is a whole lot better than the team that finished 15th last season.

    Speaking with footballlive.ng he revelled in the team’s early season form, he said: “I was not with the team last season, I came all the way from Abia Warriors I joined them this season, I thank God everything is going smooth and well, the first game I played was at the Super Four in Kaduna, we won that trophy and I was so excited and  I am looking to win more trophys with this team.”

    He also spoke of their season opener with Sunshine Stars of Akure and the second leg of their CAF Confederations Cup game against Vita Club de Mokanda of Congo. “We do not want to lose any game as it stands, we are going to Sunshine Stars of Akure this weekend, we are looking to pick up points there also before we welcome the Congolese side on the 28th and we pray that God would help us win at Uyo.”

  • HOW FELA’S SHRINE MADE ME LOSE EVERYTHING –DEDE MABIAKU

    HOW FELA’S SHRINE MADE ME LOSE EVERYTHING –DEDE MABIAKU

    Afrobeat musician, Fela protégée, and Idol judge, Dede Mabiaku reminisces about  his life and times with Fela Anikulapo Kuti, the Afrobeat maestro, his background in the arts, his passion for music, social consciousness and advocacy issues, and lots more. In this interview with JANE KOLADE. Excerpts 

    How did your romance with music start?

    I must give it to my folks, because as a kid we had an organ in the house, and my father played the Piano, my mother had a wonderful voice, and she used to sing in the house. So as a kid from my mother’s womb I heard those voices and the songs she sang. I got into primary school and was in tune with music; I was in the choir, and the cultural society. That continued to secondary school, where I joined the school choir, was in the band, and was very active in cultural activities.

    After my father donated the organ to the church; St Andrews Church, Warri, he had one Mr Segun come teach me how to play the Piano. I was a truant at the time, and did not like the fact that the man was teaching me. I still don’t know why I kicked against it, but I never learnt to play the piano with the opportunity my father created but I always admired my father whenever I watched him play. Music has always been there for me, it goes way back.

    How did you learn to play the sax?

    That came after my sojourn to Kalakuta, Fela’s commune. It all started when Fela sat me down in Kalakuta and taught me the Piano, and the things he taught me I passed down to Seun. One of those days when we were at the Kalakuta, I said to him, I would like to learn how to play the Saxophone, and  he said If I want to learn to play the Saxophone, I should buy one, and fiddle with it. Shortly after that Fela  gave me one to practice with. And I started learning. I went to YS, picked up a few scales, and came back to Kalakuta and started working.

    What kind of teacher was Fela?

    Fela was forthright, truthful, very intelligent, and highly disciplined. He was very direct, not one who believed in beating about the bush. And he was very astute. Fela would tell you, “Open that book, turn to page 523, paragraph two line three, it states . . .  ” he would quote it verbatim. When I was with him, many people thought it was just all about music. It went beyond that, it was about a way of life.

    We sat down some days, sometimes for fourteen hours going through books, journals, and reportorial. Very importantly, we went through journals, newspapers, we debated issues, situations around the world, and then we tried at every twist and turn to increase the spiritual knowledge, the spiritual base of those of us who sat around him. It had to do with you accepting the fact that you were an African, and the essence of what you are. You must have the understanding of that before you can truthfully express what it takes. And all these things he did open-mindedly, without reserve.

    So, how did you meet him?

    (Laughs)Meeting him was multiple, if I may put it that way, because when I was in secondary school I belonged to a group of guys called The Fela Boys, with the likes of the retired Air Vice Marshal Nicholas Spiff. We made it a point of duty to rep baba, we loved his sounds, and Fela’s album happened to be the first album I ever bought in my life.

    I played a fast one on my dad to get the money to buy it.  I will never forget. And throughout that period I never knew that something of this nature was going to happen. When I got to the university, I was in a band; the Sonix band.  And whenever we played Fela’s covers, the school just went gaga; you can imagine the progression from secondary school days to the university. From playing the records to playing live, at the University if Benin, with the Sonix band with Amas, Alex Emordi, Sammy; Sammy and Amas are married now, they met through the band. Osas, Mike Obi was the leader of the band. It was fun, real fun for us, school days.

    During my youth service in Owerri, I worked with a recording company called Labamba records. We had a band, and I was the leader of the band with Feladey; Felix Odey, we had Nkem Owoh,  and Charles Dickson; who later joined The Wailers. We toured the East; Aba, Enugu, Owerri, Port Harcourt sometime in 1984. And whenever we did Fela’s cover, the audience just went ballistic, and it was interesting for me. When I got back to Lagos after my Youth Service, we were always frequent at the Shrine, and at Jazz 38 which belonged to Tunde Kuboye at the time. They played classical jazz, contemporary jazz.

    How old were you at the time?

    That was in 1989. I was quite young, in my late twenties. And I had just won the Best Actor in Nigeria award at the time, the first time it was ever done. It was the NITETEP award. Then it was for the movie, The Wandering Stranger by Roland Henshaw and I. Some scenes were shot in this house, this is my home. I’ve lived here since forever so. At that time, there was that buzz about but I wasn’t feeling fulfilled so I really needed to relate with him, as I was soul searching. After that first experience in Kalakuta, he invited me into his room. I entered Fela’s bedroom that night. That night we discussed with him. Chuzy was the one asking the questions while Ohi was recording the interview we had with him, asking him questions, all kinds of things

    How long did that relationship last?

    It is still lasting.

    Even though he is no longer with us?

    Well he is no longer with you physically, but when you go into this house, you can’t tell me you don’t feel his presence. He is still here, he is everywhere.

    How did your relationship with him affect your life and career?

    When I met him, it opened my mind to a lot; he woke my spirit to a lot. The reality of who we are, what we are, what we represent and what we are meant to be. What the focus should be and what our world view should truly be. Those things took me away from where I was, the paradigm shift became obvious; my folks could not take it, considering the kind of home I came from.

    My father was the Iyasere of Warri, next to the king, and being the offspring of such an aristocratic home, they didn’t think it was proper for me to be seen in the midst of the so-called “Terrible one.” They seemed to forget that Fela did not come from a useless background, not seeming to understand that Fela’s fight was not a fight for his own personal aggrandizement. I saw through all that.

    My parents gave me the order to leave Kalakuta and never be found there, they even planned to send me to the US for my Masters in Filming Arts in Syracuse University; that was to be a lure me away from Kalakuta. I refused, and turned everything down. I was supposed to get married at the time, but my Fiancée was five months pregnant while preparing for the wedding, and her parents refused. When she put to bed, I was prevented from seeing her and the baby. Hurtful as it was, it didn’t get that bad until my father disowned me.

    Everybody thought that it was the end, but I abandoned everything. I had nothing at the time, other than the clothes I had on, and the Saxophone I had in my hand which I had just started learning. I went to Fela, and he gave me a room in Kalakuta Republic

    Did getting thrown out do something to your psyche?

    It woke me up to the reality of life, because everything was available in the home I grew up in. Then all of a sudden, you are thrown out with nothing, not just with nothing; with nothing at all. Because when I went to Kalakuta, I started this move with Fela, and on his birthday in October 1989 I asked if I could sing with his band, he looked at me and said, okay.

    When my folks got wind of the fact that I was singing at the Shrine, it was war. They couldn’t imagine that I was living and performing at the shrine. To them, I was tarnishing the family name. After he did that and gave me that opportunity to remain deeply with him, it really changed a lot of things. It made me see life for truly what it was. I just wanted to be there with him, I just wanted to serve. I just wanted to learn. I was not earning any salary, I wasn’t earning any money from anywhere as I had been cut off from everybody. I used to be on stage, working on plays like Kongi’s Harvest, Lion and the Jewel, Chatting in the Sun, Wandering Stranger, all kinds of productions, but I cut everything off. I severed everything for Kalakuta. The moment I got there I was consumed, I was completely subsumed in it.

    Can you paint a picture of the man, Fela?

    Let me paint you a picture. Can you imagine a massive waterfall, rushing down the mountain, and the massive torrent? Imagine inside that torrent; in the middle of it, there is a twig, and on that twig is a nest, and in the nest is a little bird just lying down peacefully.

    That is the best picture you can paint of the personification of what Fela is; Peace. Truth in the midst of everything else, sincerity in entirety, one who was spiritually aware of what goes on in the physical, one whose call was not towards personal aggrandizement, but towards the betterment of people who were born into this world. Fela preached oneness, he preached peace, he preached prosperity, most of all; truth. Fela spoke about things that people hardly spoke about; he was an extremely caring being, fighting even for those he never knew. He cared so much he fought for everybody and took everybody’s pain, never minding whose ox was gored. He didn’t do what he did at the times he did it for any personal aggrandizement, he did them for the people.

    How did your role as an idol judge come about?

    It was Elvina Ibru that started it. She was in partnership with a South African firm that won the franchise. I went for the auditions, was recalled and was told the way I answered their questions, and my approach, and that was it. It was not about money, but about rendering service, especially to those coming after us. I was criticised for my toughness.

    Would you still consider putting out an album in the future?

    If you know how many times I have put it off. If I don’t do it, my children will. I have over fifty recorded songs.

    So what has been keeping you from putting them out?

    I am in the arts for art’s sake.I am a committed artiste apart from being a thespian by training. Seeing the extreme commercialization of what art represents, it kills the value. I will, but the point is over this period, was my spirit willing to?

    If you were not into music, what would you be doing?

    I am an artist in toto. I might also have been in farming, or cooking because I cook.

    In what way do you think you are different from your mentor?

    I am Dede, different from Fela. He took so much torment because at the time he started there was no media to express one’s views, like we have social media. So he had to fight the fight for the people.

    Would you encourage any of your kids to go into the arts?

    My son was in a University in London, and suddenly called that he would like to do a one year internship in music, and I told him it was his choice. So he is with Olaitan (the guy called Heavy Wind) a Jazz artiste. My daughter in Ghana, I hear is one of the best voices in Africa; from her ratings.

    Would you give marriage another shot?

    I tried, people thought I wouldn’t last six months in marriage but for someone with the kind of load I earlier described to suddenly shut down. No one expected me to get myself a bride from across the border. But I did it and was respectfully committed to that woman. But I thank my ex for the chance to experience marriage.

  • ‘Let’s not lose hope on Chibok girls’

    ‘Let’s not lose hope on Chibok girls’

    The Presidency has said that the terrorist group Boko Haram has been degraded and has lost its central command. It is not yet time for Nigerians to lose hope about finding the Chibok girls who were abducted by the group over one year ago, the government said.

    While assuring that the troops are being careful about certain locations within the Sambisa forest so as not to harm the girls, Presidential spokesman Garba Shehu said the government and the military had better intelligence to work with.

    Sambisa forest is Boko Haram stronghold. The girls were abducted on April 15 last year.

    He said: “What the President has always said is that we don’t even know where the girls are and that we need to go in there and get the intelligence and situation of things and then act.

    “Without meaning to endanger what is left of those girls, you know that the Sambissa forest is being degraded right now.  The bombing is done in a careful manner to avoid certain locations of interest as far as Chibok girls are concerned.  Please take note of what I am saying. I am not saying that the girls are here or there. But there is better intelligence now.

    “In fact, Sambissa forest is under observation 24 hours, in case somebody decides to move those girls from point A to point B. If there is any movement that is suspicious, we have drones, unmanned aircraft that fly around the place at night and during the day.

    “In the last few days,  you even saw the Chief of Army Staff leading the troops and I am aware that in the last few weeks, very interesting pictures have been sent to the President on the basis of which we will say to Nigerians, ‘don’t lose hope on the Chibok girls. I am not saying they have been found or that they have been seen. But it is not yet time for Nigerians to say we have lost them”.

    Shehu, who was answering reporters’ questions in Abuja, said there were assurances from the military to carry out the directive of President Buhari to end the insurgency within three months, adding: “From my conversation with these commanders, what they are saying to themselves is that they are not going to wait for three months, but do their best to beat the target given by the President.

    “So, there is so much going on and I can assure you that the spirits is very high. The Army chief was there with the soldiers for about nine days. That is leadership because you see him leading the soldiers from the front.  If the chief himself is there, who are you to drop your gun?  A lot is happening and Boko Haram has been degraded. They have lost central command and are now in splinters.

    “What you have now is bits and pieces carrying out distractive action because they don’t want to go down alone. So, they are looking for very soft targets, such as churches, mosques, markets.

    “The Air Force is clearing this place for the ground troops to move in. They are looking for bomb making structures and moving convoy of these insurgents. But they are being careful about certain locations with the hope not to harm these Chibok girls in those locations.”

  • Wasteful 3SC lose in Kwara

    Wasteful 3SC lose in Kwara

    Shooting Stars fell 1-0 to Kwara United in Ilorin on Sunday after they threw away several chances in front of goal including a penalty.

    Shooting Stars have 32 points from 24 games, while Kwara have 29 points.

    Ismaila Gata scored the only goal of the game in the 14th minute when he tapped in after goalkeeper Danladi Isa spilled a shot.

    On the half hour, Ajani Ibrahim failed to score in a one-on-one situation with Kwara goalkeeper Kazeem Yekeen, who pulled off a save.

    Five minutes later, Yekeen cleared Yinka Adedeji’s free kick.

    Two minutes later, Yekeen was on hand to stop 3SC Tope Orelope in another one-on-one situation.

    A minute after that, it was the turn of 3SC goalkeeper Danladi Isa to make a save off Femi Oladapo’s header.

    In the 68th minute, Segun Alebiosu’s effort crashed against the goal post.

    In the 42nd minute, Tope Orelope’s penalty after Akeem Onigbari fouled Tayo Fabiyi inside the box was saved by the outstanding Yekeen.

  • ‘Farmers lose 50% of harvest’

    Farmers in Sub-sahara Africa, lose between 30 per cent-to-50 per cent of fruits and vegetables due to inadequate storage, Harvest Protection Network (HPN), has said.

    To address the challenge, HPN has promised to introduce a program to reduce crop spoilage losses in the sub-region. It said its business model will test the premise that revenues from the sale of crops previously lost to spoilage will pay for the buildings.

    “While many programs focus on how to increase food production, HPN will focus on protecting what we already grow. In addition to providing waterproof and pest proof storage, these buildings can serve as a distribution center and/or an indoor market. This program also contemplates outright ownership of these buildings by smallholder farmers,” says HPN’s founder and owner, Ian Bennett.

    Bennett, a Wharton MBA graduate who has been involved in the business of agriculture in Africa for over 40 years, was quick to point out that this is not a “handout” program. He said while participating African countries are not being asked to provide any of the funds to deliver and assemble these buildings, they are being asked to remove any import duty and the participating farmers are being asked to provide the land on which these buildings will be erected.

    Preliminary talks with foundations have been characterized by surprise that HPN is not interested in grant funding. “Our immediate challenge is to confirm that these buildings are self-funding,” he said, adding that if this pilot program is successful, HPN will seek a renewable credit facility to make it possible to continue delivering these buildings to Africa’s farming communities.

  • Telcos lose N20b yearly to opex, arbitrary fees

    Telcos in Nigeria lose about N20 billion annually to punitive operating expenditure (opex) and multiple taxation and arbitrary charges, the Chief Executive Officer, Airtel Nigeria, Segun Ogunsanya has said.

    He has therefore urged the Federal Government to come up with a unified tax system to enable businesses and investors know what taxes are supposed to be paid to the government.

    Ogunsanya who spoke in Lagos at CEO Forum organised by Business Day said it is estimated that increased operating costs and lost revenue costs around N9billion each year to the telecoms industry or about N20billion if most of the arbitrary fees/charges in some key states are upheld.

    He said the government should unify taxes under one code and also bring to book vandals who deliberately destroy telecoms infrastructure.

    With Nigerian Telecoms Industry: Five Years Ahead, as the theme of discussion at the forum, he noted that strong growth is expected from the mobile financial services over the forecasting period and operators should ensure they are able to offer products to the large unbanked population of Nigeria, while growing demand for mobile apps and e-commerce will have a positive knock-on effect on mobile operators.

    According to the Airtel CEO, Nigeria offers exciting opportunities for telecoms investors as a large population with rising incomes position the country as one of the most attractive destinations for investment on the African continent.‘

    He said the country has massive bandwidth capacity from the four undersea cables that is yet untapped, arguing that the capacity from these undersea cables will provide opportunities to domestic and international investors to take advantage of the growing broadband and data industry.

    But for the industry to attain its full potentials, he said key bottlenecks must urgently be removed telecoms industry to reach its full market potential. He listed these issues to include spectrum availability and adequacy, government commitment to the National Broadband Plan (NBP), tackling multiple-taxation, reliable and cost-effective power supply, protection of telecoms infrastructure from vandalism and resolving restrictions on telcos’ activity in mobile money.

    He said due to explosive growth in mobile data traffic, operators require more spectrum to support this growth, adding that there is an urgent need to expedite the release / award of frequency to operators as this will facilitate industry development.

    Ogunsanya also decried the incident of multiple-taxation, lamenting that revenue loss from idle or shut down base stations represents the main source of negative impact of multiple taxation and network vandalism for the industry. Between two and three per cent of Nigeria’s sites are affected by arbitrary shutdown and vandalism at any given point in time, he lamented.

  • ‘Jonathan‘ll lose in Southwest’

    ‘Jonathan‘ll lose in Southwest’

    Former Ondo State Commissioner for Local Government and Chieftaincy Affairs, Prince ‘Diran Iyantan led the Yoruba Ronu group to our office recently. He spoke on marginalisation of Yoruba, Afenifere leadership, general elections, Ondo politics and other sundry matters. Assistant Editor LEKE SALAUDEEN reports.

    Do you agree that the Jonathan aspiration has marginalised the Yoruba people?

    Yes, it is obvious. The Yoruba contributed to the emergence of President Goodluck Jonathan in 2011. The Yoruba people singled him out of the crowd to become president, it follows that he should be fair to the race in political patronage, but he failed to do that. Former President Olusegun Obasanjo almost singlehandedly picked Jonathan and ensured he became President of Nigeria. He is an ingrate. He has short changed the Yoruba race.

    The Yorubas are the most liberal people in Nigeria. When Obasanjo was in power, he incorporated every ethnic group into his government. There was no Yoruba man in his kitchen cabinet made up of people like Nuhu Ribadu, Nasir El-Rufai and Ngozi Okonjo-Iweala. It is opposite under Jonathan. This development made some Yoruba to indict Obasanjo that he sold off his tribe when he was in power.

    What is your reaction to the purported endorsement of Jonathan by the Afenifere group?

    The Afenifere leaders didn’t take the generality of the Yoruba interest into consideration before they took that decision. My father ( now 93 ) is the oldest Afenifere member. He was disappointed by the decision of his colleagues. There was no forum for discussion they just allowed the external forces to influence their parochial interest. It is unfortunate that most of these Afenifere leaders lack electoral value. They can’t win election in their wards. For instance, Olu Falae who was the leader of Peoples Democratic Alliance (PDA) lost in his ward in 2011. The Yorubas are not with them. We know our leaders. Jonathan will lose in Southwest, no amount of bribe he offers his promoters.

    In my discussion with some of them, one problem they have is the meteoric rise of Asiwaju Bola Tinubu to political leadership in the Southwest and in Nigeria as a whole. Tinubu achieved this through political evolution. His contribution to the Yoruba race made him the undisputable leader. If not for his steadfastness, Nigeria would have been in disarray. When the Peoples Democratic Party (PDP) dislodged Alliance for Democracy (AD) in the Southwest in 2003, it was only Lagos State under Tinubu that survived the PDP onslaught. With only one state, he was able to build Action Congress of Nigeria (ACN) into a formidable party in the Southwest and Edo State. In 2007, ACN reclaimed some of the states and swept out PDP from the Southwest in 2011.

    Will you say the Afenifere group are keeping to Awolowo’s political philosophy?

    They have gone in the direct opposite of Awo’s political thought, an embodiment of egalitarianism and welfarism. Awo detest corruption in his life time. But the Afenifere leaders have been induced to promote corrupt government and leaders. In Yoruba tradition, when you attain certain age or when you become an elder, you retire from active participation in certain things like business and politics. Most of these Afenifere leaders are in their 80’s or above, they should quit the stage for the younger elements.

    Are you surprised that former Ogun Ste Governor, Olusegun Osoba has returned to Afenifere fold?

    I don’t think he was the closest to Awo while on earth as he claimed. Awo never jumped ship throughout his political career. Time was not auspicious for him to opt out of the progressive family. I feel sad for him for doing that at the twilight of his political career. At a time when the progressives are struggling to liberate themselves from the shackles of conservative elements, it is disappointing that a leader like Osoba decided to join the oppressors.

    The Afenifere leaders based their endorsement of Jonathan on his commitment to implement the National Conference report. What is your comment?

    I considered the national conference as a deliberate ploy to buy time for Jonathan. The progressives first mooted the idea of national conference which was rebuffed by Jonathn. When he became very unpopular, he believed he can use the convocation of national conference as bait. He is now giving an absurd condition that re-elect me first before I can start implementing the report. The time the report was submitted before now was sufficient for the President to implement the report if he was truly committed to its implementation. Jonathan knew what some Yoruba like his polemic. He wanted to keep them busy and engaged the likes of Femi Okunrounmu. He has also induced the Afenifere leaders to collaborate with the South-south in order to win the presidential election. They want to use creation of new states to justify the national confab report. Jonathan has been promising people that he will create new states if he was re-elected. What is the rationale of creating new states when most of the existing ones are not viable?

    Are you surprised that the Yoruba Council of Elders (YCE) capitulated from his earlier decision not to endorse Jonathan?

    We are pained that the Yoruba Council of Elders is now hob-nobbing with the oppressors of their race. The YCE is supposed to be apolitical. For them now to join the fray of politics of inducement and commercialisation, we are not bothered. Yoruba are united; Yoruba have identified with the general change; we want Nigeria to be rescued from the pangs of desperados. I know their off-shoots are not supporting what they (YCE) leaders are doing. Look at Chief Niyi Adebayo, he is one of those advocating change in the country.

    The Afenifere leaders have described the merger of ACN with other parties from the north as a sell-out. Do you agree?

    It is a belated and jaundiced argument. The little time we have stability in this country was when there was co-operation between the Southwest and the north. We believe the interest of the Southwest will be better protected by working with the north. The Yoruba in the Federal Civil Service are being marginalised and victimised. We cannot endure this sad experience for another four years. God willing, with Prof. Yemi Osinbajo as Vice President, the interest of Yoruba will be properly taken care of. We don’t want Yoruba children to be given dirty jobs like those assigned Femi Fani-Kayode, Doyin Okupe and Reuben Abati anymore. It is not in our tradition and culture to talk carelessly about our elders. Can you imagine Fani-Kayode casting aspersion on Tinubu who resuscitated the integrity of already bruised Yoruba race. Fani-Kayode should temper his problems with common sense and stop making unguarded statements because he wanted to satisfy his pay masters.

    What is the political situation in Ondo State now?

    The emergence of Governor Olusegun Mimiko in 2007 was a result of revolution in Ondo State. What happened in the state is a miniature of what will happen in Nigeria this year. Mimiko was a political orphan. He only had affiliation with the people who provided the arsenal to prosecute that revolution.

    Mimiko started well but suddenly he deviated from the norms of good governance. He betrayed his benefactors including Asiwaju Tinubu and even engaged in unhealthy rivalry with Tinubu. The economy of Ondo State was not strong enough to cope with his inordinate ambition. The state has suffered because of it. There is poverty everywhere. Mimiko is now a political pariah. He is now the most unpopular government in the country. The wind of change is blowing across the state seriously. Mimiko is in a big problem. He has been rejected. His party-PDP will lose in the forthcoming elections.

    How strong is APC in Ondo State?

    The kind of unity pervading in the party is unprecedented because of the policy of inclusive participation we adopt. The successful street walk organised for our vice presidential candidate, Prof. Osibajo bears testimony to the popularity of the party in the state. When our presidential candidate Gen. Buhari came for campaigning, our members trooped out in thousands to welcome him. They waited from 9am to7pm in anticipation of his arrival. The commitment of our members to the change project is total.

    My advice to the APC members is that they should be law abiding, peaceful, resilient and never tired. We are at the threshold of history. We want to give birth to a new baby. We should not be distracted from achieving our goal of installing APC controlled government at the centre and in virtually all the states of the federation.

  • ‘PDP will lose in Lagos’

    ‘PDP will lose in Lagos’

    Hon. Yinka Ogundimu is a chieftain of the All Progressives Congress (APC). In this interview with Assistant Editor LEKE SALAUDEEN, Ogundimu, who represents Agege Constituency II in Lagos State House of Assembly, spoke on developmental projects in his constituency and preparations for the general elections.

    What developmental projects have you facilitated to your constituency?

    There are so many. In fact, this is the first time Agege Constituency II will witness rapid infrastructural development. We have a maternity being constructed at Orile-Agege by the state government under World Bank Assisted Projects. There is road network that links Oko-Oba/Oja-Oba to Egbatedo Street; Ipaja-Ota Road and Ajiboye Crescent that links Ota Road with expressway. When the road is completed, it will decongest Ipaja Road. Soretire Street is now linked with Oguntade Road. There is a canal at Arigbale which used to pose a threat to residents whenever it rains. The Arigbale end of the canal has been constructed. Other roads constructed are Salamotu Street and Adejare Street. There are five major road projects around Agege Stadium that will take you to Akilo Road and link up with Ikeja.

    The construction of a two-storey building at the Methodist Primary School, Tabontabon has reached 75 per cent completion stage. The Agege Stadium has been upgraded and league matches are now played there. Agege is in the mind of the state government. But, there are still more to do.

    If you are re-elected, what are your plans for the constituency?

    The legislative assignment is about experience. It is through continuity that one can gather more experience. Continuity will enable me serve my people better. I know the doors to knock to get what I want for my people. I will ensure that the state government intensify ongoing work on inner roads and drainage construction in Agege constituency II; provide youth employment and create conducive environment for investment. If the economy is stable, investors will come and invest and employment opportunities would be created.

    Water supply is the major problem of Agege residents. What steps are you taking to reduce the pains?

    The problem was created by the colonial administrators. The first water works was cited in Iju here in Agege. But the colonial policy was that the water supply was meant for the Government Reserve Areas (GRAs) in Ikeja and Ikoyi. They laid the pipes pass Agege and denied the people the water sourced from their territory.

    However, the state government has come to the rescue of Agege with water supply from Adiyan Water Works. Some areas in Agege now get water supply while others will also benefit as soon as pipes were laid. One problem associated with water supply in Agege is that many pipes have been destroyed through construction of roads and houses. I am sure the repair of pipes would be completed before the tenure of this administration lapses. Another problem is that our people believe water supply should be free. They don’t want to pay water rate but we are educating them to reason why they must pay.

    The Peoples Democratic Party (PDP) says with Jimi Agbaje as its governorship candidate, it will win in Lagos. What is your comment?

    Before you engage in war, you must have your strategies in place. The PDP in Lagos has no structure. They don’t have good antecedents that could help their cause. From 1999 till date, we have always won elections in Lagos State, and we will continue with our winning streak