The Nation Newspaper

Tag: Nigerian news

  • BBNaija: Esther, Sir Dee exit house

    Two Big Brother Naija housemates, Esther Agunbiade and Daniel Tioluwa also referred to as Sir Dee have been evicted from the ongoing reality TV show.

    The duo were evicted at the live eviction show held on Sunday, making them the 13th and 14th housemates to leave since the commencement of the show on June 30.

    Esther, the first female Head of House and first woman to hold the position twice in this season, spoke with host, Ebuka Obi-Uchendu about her relationship with Frodd and Nelson, saying, “Frodd is sweet and Nelson is my G.”

    When Sir Dee was brought on the stage and asked about his feelings for Diane, he said he only had a “brother, sister” relationship with her and did not feel anything more for her.

    Judging from recent Twitter polls, Esther seems to be the least liked housemate and some social media users have been anticipating her exit from the house, especially because of her relationship with Frodd.

  • Will bearish capital market rebound in September?

    Nigerian investors continue to wriggle in losses as the bears hold tight to the equities market. For the third consecutive month, the market closed negative in August, setting the third quarter almost on a certain negative close like the previous two quarters. Capital Market Editor, Taofik Salako, examines the performance of the market and the prospect for a rebound

    The bears are everywhere and the best of fund managers know it. Analysis of collective investment schemes (CIS) showed that the net asset value (NAV) of equities-based funds had depreciated by more than 20 per cent over the past 12 months. NAV is determined by subtracting total liabilities of a fund from its total assets. The NAV can further be divided by the total number of units of the fund to determine the unit price, which provides the effective bid and offer prices for a fund. This simply implies that a divesting investor may suffer not less than 20 per cent loss in the value of his investment. Collective investment schemes, otherwise known as mutual funds, are joint investment vehicles through which investors pool funds and invest in chosen basket of securities, usually under a professional management, with a view to optimising returns and reduce risks. With economy of scale that allows for diversification and good spread, extensive research capability, technologies, experience and full-time dedicated management, mutual funds are often seen to be more resistant to the vagaries of the market. But when the bears decide on a rage, no one is safe, either a scratch or a bite, the depth of the wound depends on the position during the attack and immediate response. In a rage, the best managers fight to come out with a scratch than a cut. Nigeria’s largest equities-based mutual fund, and unarguably one of the best-managed funds, had depreciated by more than 26 per cent over the past 12 months.

     Bears’ fangs

    For the third consecutive month, pricing at the Nigerian equities market closed August 2019 in the red. With average depreciation of 0.69 per cent in August, net capital depreciation over the past eight months rose to 12.42 per cent, equivalent to a net loss of N1.46 trillion. The All Share Index (ASI) – the common value-based index that tracks share prices at the Nigerian Stock Exchange (NSE), closed August at 27,525.81 points compared with 27,718.26 points recorded as July’s closing index. The ASI had opened 2019 at 31,430.50 points, 17.81 per cent down from its 2018’s opening index of 38,243.19 points. The market had recorded average decline of 7.50 per cent in July. Aggregate market value of all quoted equities August at N13.391 trillion as against N13.507 trillion recorded at the beginning of August. It had opened the year at N11.721 trillion. However, the seeming appreciation in the year-to-date performance of aggregate market value of all quoted equities was due to the unabsorbed boost from the recent listing of telecommunication companies- MTN Nigeria Communications Plc and Airtel Africa Plc.  Based on market values, both the ASI and market capitalisation are correlated indices and without new listing or delisting, usually move simultaneously in the same direction. But the ASI is weighted, and as such adjusted for effect of new listing while the market capitalisation is a straight-line summation of share prices and issued shares. Thus, where the ASI and market capitalisation differ, the ASI is widely regarded as the true representation of the market condition.

    Sectoral indices underlined the widespread depreciation in share prices across the sectors and stocks’ groups. Strikingly, investors with heavy exposure to a sector might have suffered greater losses than the average benchmark index, which decline was moderated by large number of dormant stocks. Sectoral indices, by design, are representative indices for the sectors or stocks’ groups they seek to represent and are usually made up of the most liquid and largest stocks within the sector or group. The NSE 30 Index, which tracks the 30 largest companies at the NSE, posted a negative return of -23.25 per cent within the eight-month period. The NSE Corporate Governance Index-which tracks some of the best-managed companies, also indicated average depreciation of 23.58 per cent.  The NSE Pension Index, which tracks a group of stocks adjudged as safe for investment of risk-averse pension funds, ended the eight-month period with average decline of 23.34 per cent. The NSE Lotus Islamic Index, which measures pricing trend within the group of stocks that comply with ethical requirements of Islamic finance, posted average loss of 22.25 per cent.

    No safe haven

    From banking to insurance to consumer goods, industrial goods and oil and gas sector, investors were reeling in double-digit losses. The NSE Banking Index-which tracks the most influential and liquid banking sector, indicated average return of -19.49 per cent. The NSE Insurance Index-which tracks the populous but largely inactive insurance sector, posted average return of -15.52 per cent. Investors in oil and gas sector were the worst-hit with the NSE Oil and Gas Index closing the eight-month period with average depreciation of 34.35 per cent. In the purchasing-power-prone consumer goods sector, investors had lost an average of 29.74 per cent. The NSE Industrial Goods Index showed the highest resistance with average return of -11.85 per cent, the only sectoral index to outperform the benchmark index.

    With inflation rate at 11.08 per cent and the benchmark lending rate-Monetary Policy Rate, at 13.50 per cent, most investors have lost more than one-thirds of their portfolios when adjusted for dividends, scrips, inflation and cost of capital. Stock-by-stock analysis showed most stocks with large losses. For instance, FBN Holdings had lost 40.3 per cent of its market value during the eight-month period. Oil major, Total Nigeria lost 50.7 per cent. Leading brewers- Nigerian Breweries and Guinness Nigeria depreciated by 40.1 per cent and 42.5 per cent respectively. Largest conglomerate, UAC of Nigeria had declined by 48.7 per cent while PZ Cussons Nigeria’s share price halved by 52.2 per cent.

    The continuing depreciation has raised concerns about a repeat of the consecutive bearishness that had gripped the market between 2014 and 2016. The equities market had suffered average decline of 17.81 per cent in 2018. Aggregate market value of all quoted equities on the Nigerian Stock Exchange (NSE) closed 2016 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.

    What enraged the bears?

    Most analysts agreed that the stock market performance had been weakened by macroeconomic uncertainties, political risks, insecurity and cash crunch at the domestic level. With foreign portfolio investors accounting for nearly half of transactions at the Nigerian stock market, the tense global economic outlook, trade disagreements among major economies, decline in crude oil price and attractive yields in less-risky economies compounded the Nigerian market situation. Total transactions by foreign portfolio investors in the Nigerian stock market had declined by 36.53 per cent within the first seven months of this year, just as foreign portfolio outflows continued to outpace inflows.

    Managing Director, APT Securities and Funds Limited, Mallam Kasimu Kurfi, said foreign investors were unnerved by lack of clear economic policies in the wake of the political transition and the intervening period for the emergence of the economic team and direction of the government.

    He noted that the decline in August was most likely exacerbated by sell pressure from the domestic investors, who were selling to raise funds ahead of the resumption of schools.

    According to him, with the depression in the real estate sector, equities appear to be the only easily available ways of raising money for most investors.

    Managing Director, Network Capital, Mr Oluropo Dada said investors took flight to money market instruments to stave away risks despite the underlying attractions of grossly undervalued shares.

    “The economy was full of uncertainties, the political climate was volatile, insecurity and unrest and many more challenges contributed to the poor performance. Companies were not sure of what government policy would be, there were no definite business-oriented policies that could have helped the market,” Chairman, Ibadan Zone Shareholders Association (IBZA), Mr Eric Akinduro, said.

    He said the negative trend might continue for a while because the economy has not shown any serious positive sign.

    While commending the government for the success of its foreign exchange management, Akinduro said government needs to do more to create enabling environment for companies to operate and deliver better results, which could stimulate the market.

    FSDH Merchant Bank stated that declining crude oil price and fear of a possible global recession had negative impacts on the stock market. Analysts however noted that the depreciation has created good opportunities for investors, especially in stocks with strong fundamentals.

    Afrinvest Securities stated that weak macroeconomic environment has continued to cast a shadow on investor sentiment.

    “The bearish streak is expected to continue in the absence of any economy stimulus that would reverse the negative sentiment in the market,” Afrinvest Securities stated.

    A question of when

    But there is almost a consensus on the inherent value in Nigerian equities in the medium to long-term and many analysts believed that the market might have seen its worst and on the path to recovery.

    “We reiterate our view that the blend of a compelling valuation story and positive macroeconomic environment should propel the market in the medium term. However, we advise investors to tread the cautious trading path in the short term,” Cordros Securities stated.

    Kurfi said the market was set on recovery citing that the lower subscription to the last government’s bond auction was indicative of a shift from the debt market to the equities market by investors seeking to lock into undervalued shares.

    “The market performance in August was better and it is likely to do better in September than August,” Kurfi said. He added that the emerging clarity on economic management leadership and policy direction would stimulate investors’ sentiment, pointing out that the national call to foreign investors by President Muhammadu Buhari at the Japan’s African conference could help to boost flagging foreign investments.

    Chief Executive Officer, Sofunix Investment and Communications, Mr. Sola Oni said the stock market was ripe with attractive investment opportunities for discerning investors.

    “This is actually the best time to buy shares because the companies which are trading below intrinsic values are in full operations and waxing stronger for enhanced returns to shareholders,” Oni said.

    He noted that declining purchasing power had moderated the performance of the stock market as the bulk of Nigeria’s large retail investors fall within the lower range of the purchasing power rank.

    The Association of Securities Dealing Houses of Nigeria (ASHON) meanwhile called for a cohesive and sustainable approach to market development through appropriate policies by relevant stakeholders.       Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Chief Patrick Ezeagu said there was need to deepen the capital market in order to increase its absorptive capacity. One of the ways to deepen the market, according to him, is a policy direction that enables pension fund administrators (PFAs) to increase their investments in the equities market. The largest chunks of Nigeria’s N5 trillion pension assets are locked in government’s bills and bonds. A recent breakdown indicated that only 12 percent of pension funds were invested in equities while 70 percent were held in Federal Government’s bonds and Treasury Bills. Ezeagu noted that the assets held by PFAs largely have long term tenor, which can be invested in the equities market to create a more stable domestic investors’ base and enhance liquidity at the market.

    He also cautioned government against policies that could undermine the competitiveness of the Nigerian market citing the recent move to reintroduce Value Added Tax (VAT) to the capital market.

    “We believe that the conditions that necessitated the waiver of VAT on capital market transactions are still prevalent, its reintroduction will definitely set the market backwards in terms of reviving investor confidence,” Ezeagu said.

    With the equities market closing the first trading session in September with a modest gain of 0.14 per cent or N19 billion, has the recovery started? That’s too close to call. Most agree the recovery and the return to the eye-popping bullish rally is certain, but the imminence remains in the air.

  • Ikeja Disco’s 13-month blackout

    SIR: In October 2018, when the faulty transformer at Akinbaiye Street, Isolo was removed by Ikeja Electricity Distribution Company, subscribers’ expectation that the transformer would be quickly replaced was high. That hope has been dashed with the area is still in darkness more than 13 months after.

    Ikeja Electric turned deaf ear to all pleas of power subscribers as if it has no obligation or corporate responsibility to deliver service (power) to consumers.

    At a point, the community development association took the quest for the replacement of the transformer to the traditional ruler of the town, Oba Kabiru Agbabiaka, requesting his intervention. The Oba’s palace is on Akinbaiye Street one of the fives streets affected.

    Ikeja Electric authorities didn’t ignore the Oba. It said that each electric meter in the five streets affected should pay N18,000 to supplement payment of a new transformer. The Oba, it was learnt promised to add his royal gesture to ensure that electricity supply returned to the area. Subscribers largely complied. It is on record that more than 65 percent of meters in the area paid in May 2019 and surprisingly, more than four months after the payment, the area is still in darkness. If this is not height of callousness, insensitivity and gross dereliction of obligation, what is it?

    Power consumers in the affected area have suffered and are still suffering untold inconvenience and agonising discomfort. Most people cannot iron their clothes or use the services of their electronic gadgets. If not for the present wet season, old, young and especially children would have been denied their night sleep because of heat.

    Those who use electricity in their small-scale enterprises such as hairstylists, barbers, fashion designers, photo studios, corn millers, pepper grinders, beer parlours to mention a few have lost millions of naira income and contribution to the gross domestic product (GDP). The cost of running electric power generator if they could afford it is prohibitive and raises cost of production that directly depletes profit.

    On the part of Ikeja Electric, it must have recorded a huge loss of revenue too that subscribers would have paid into its coffers if darkness is not what it serves Akinbaiye instead of power. This is not a mark of entrepreneurial outfit that is out to generate huge income and make profit for its sponsors. There are subscribers at Akinbaiye that do not owe. Such subscribers deserve constant supply of electricity whenever it is available.

    Elasticity of subscribers’ patience is being stretched to the extreme. We urge Ikeja Electric to take quick steps to restore supply to foster good supplier-consumers relationship to stop the suffering of subscribers.

    • Tajudeen Adigun

    Isolo Lagos.

  • FATF: Probing compliance with anti-money laundering rules

    The Financial Action Task Force (FATF) team will this month conduct its annual Mutual Evaluation on Nigeria. The exercise allows it to assess Nigeria’s compliance with the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) rules. The team will be assessing banks’ and Bureaux de Change (BDC) operators’ compliance level, writes COLLINS NWEZE.

    The sorry state of public institutions in the Economic Community of West African States (ECOWAS) is disturbing. In many public schools, students learn while sitting on the floor, hospitals lack basic drugs, while road networks are little better than death traps.

    These societal ills thrive where corruption and illicit financial flows are rampant and Africa has remained one of the biggest losers, with over $30.4 billion ferried out of the continent annually.

    To tackle Illicit Financial Flows (IFFs) in Nigeria, the Financial Action Task Force (FATF) will, this month, conduct stringent country evaluation and monitoring process in Nigeria during which banks and Bureaux de Change (BDCs) will be visited and assessed.

    The FATF, the global standard-setter in the fight against money laundering and the financing of terrorism and proliferation of weapons of mass destruction, conducts peer reviews of each member on an ongoing basis, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system.

    The BDCs are conversant with the threats and dangers posed by Money Laundering and Terrorist Financing (ML/TF) in Nigeria, Africa and globally, and are helping to tackle the menace.

    President, Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, said the group, in collaboration with regulatory agencies and key government parastatals, conducts series of trainings to ensure compliance by its members.

    With over $30.4billion ferried out of Africa annually, ABCON is intensifying its commitment to fighting money laundering and terrorist financing by ensuring that its members comply with regulations in doing their business. Gwadabe said the group is already equipping over 4,500 BDCs with the right technology and skills to tackle illicit financial flows within the country.

    He said the BDCs meet regularly with regulators, government agencies/officials and experts to analyse, monitor and identify strategies for effective implementation of Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) measures.

    He said the BDCs would welcome the FATF Mutual Evaluation team to Nigeria, saying the FATF assessment was designed to evaluate the implementation and effectiveness of the laws, regulations and other measures required to ascertain the effectiveness of the AML/CFT regime.

    The Mutual Evaluation will equally provide information on the progress made by Nigeria in meeting its obligations towards the FATF Recommendations.

    ABCON has, over the years, established itself as a key player in the Bureaux de Change (BDC) industry, and has also made several commitments and sacrifices to ensure that the sector continues to thrive and its members follow global best practices in the retail of foreign exchange to end users.

    The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) is at the centre of the fight against the menace and terrorist financing across the Economic Community of West African States (ECOWAS).

    According to the group, about $30.4 billion is illegally transferred out of Africa yearly.  To stem the menace, GIABA is empowering key institutions to tackle illicit financial flows within the region.

    GIABA information Manager, Lagos Office, Timothy Melaye, said the Financial Action Task Force (FATF) requires countries to identify, asses and understand the Money Laundering/Terrorist Financing (ML/TF) risks to which they are exposed, take measures and mobilise resources to ensure that such risks are mitigated.

    “GIABA is a change agent. We build capacity, collaborate and sanction countries when they refuse to comply with the Financial Action Task Force (FATF) 40 recommendations. We also promote the economies of member ECOWAS states,” he said.

    FATF Mutual Evaluation and BDCs’Preparations 

    Gwadabe disclosed that ahead of the FATF Team visit, the ABCON, in collaboration with the Central Bank of Nigeria (CBN), is organising a sensitisation workshop for over 4,500 licensed BDCs in Nigeria. The workshop will hold in the six geo-political zones.

    He said as the global body that sets standard for AML/CFT efforts, the FATF team will assess banks and other financial institutions’ compliance with the AML/CFT measures, saying like in other previous visits, the FATF team will carry out checks at the branches of selected banks and BDCs across the country, as well as the airports and land borders.

    Gwadabe said Nigeria, which has been in the forefront of mentoring other member states in the development of their AML/CFT systems, has largely addressed its action plan by enacting legislation to criminalise money laundering and terrorist financing. The country is also implementing procedures to identify and freeze terrorist assets and ensure that customer due diligence requirements apply to all financial instructions.

    BDCs’ Compliance/Digitisation of Operations

    Gwadabe said BDCs have met a number of compliance requirements specified by FATF and local regulators, saying they have conducted enhanced due diligence, a major compliance requirement on some high-risk customers. He said the collation and reporting of foreign currency transactions and suspicious transactions by BDCs are now fully automated.

    He saud ABCON had in February, launched its Live Run Automation Portal in Lagos, stating that the technology automates all BDC Operations with those of Nigeria Inter-Bank Settlement System (NIBSS), Nigeria Financial Intelligence Unit (NFIU) and the Central Bank of Nigeria (CBN), enabling improved compliance of the BDCs with set regulations.

    The platform allows BDCs send their reports online real time, thereby removing the challenge of manual rendition of reports. The project has given a favourable rating in the perception index of BDCs in Nigeria especially in the eyes of international investors.

    Gwadabe said we are in the digital age, BDC operators under his leadership are committed to staying ahead of the competition by deploying time-tested technology to deliver effective services to customers and ensure compliance. He said the Live Run portal has enhanced BDCs compliance with set regulations and promoted market integrity, pointing out that the portal has sustained transparent transactions in the BDC corridor, boosted members morale  and ensured their continuous operations.

    Continuing Anti-Money Laundering War

    Gwadabe said public institutions in ECOWAS region have suffered immensely from the corruption going on in the public and private sectors, saying  ABCON is aware of the growing concerns over illicit financial flows (IFFs) from West African economies and the need to tackle them by key stakeholders within the region.

    He acknowledged the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA’s) 2016 – 2020 Strategic Plan, which showed that the Global Financial Integrity (GFI), the World Bank, the African Development Bank (AfDB), the Africa Progress Panel and the African Union’s High Level Panel on Illicit Financial Flows from Africa all paint a grim profile of the problem.

    A joint study conducted by the GFI and the AfDB showed that between 2000 and 2009, about $30.4 billion was illicitly transferred out of Africa each year. Over a longer period of 30 years, calculated from 1980, the resource drain was between $1.2 and $1.3 trillion. Outflows from West and Central Africa stood at (37 per cent), followed by North Africa (31 per cent) and Southern Africa (27 per cent). The IFFs are derived from various predicate offences of money laundering.

    Partnerships/Capacity Building for BDCs

    ABCON, severally, organised trainings for its members, and at other times, partnered NFIU and the EFCC to build capacity for operators.

    They have educated BDC operators on how they can help in tackling money laundering, terrorist financing and the benefits of keeping records of their transactions.

    The anti-money laundering training that ABCON organised with NFIU and EFCC in Lagos was meant to familiarise BDCs with the process of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime.

    Speaking during the sensitisation programme against money laundering and terrorism financing campaign at MM2, Lagos, which was attended by many BDC operators, the Acting Chairman, EFCC, Ibrahim Magu, called for continuous sensitisation on issues around AML/CFT reporting to improve transparency in BDCs operations.

    He said the EFCC would continue to campaign for financial integrity and transparency in BDCs’ operations. Other stakeholders at the event also spoke on the use of BDCs for illicit political transactions, illegal border cash evacuation, reporting of suspicious transactions, fraud accounts transactions and cash dollar deposits on domiciliary accounts.

    The NFIU/EFCC/ABCON goal is to ensure that BDCs are not used to launder funds by Politically Exposed Persons (PEPs). Their target was also to upscale BDCs’ compliance with the AML/CFT for Banks and Other Financial Institutions in Nigeria, Regulations 2013.

    These capacity building workshops have helped BDCS to understand how to raise and submit both the Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) to regulators.

    Report Filling by BDCs

    ABCON has continued to ensure that BDCs file their reports as and  when due. They file reports on all transactions from N10 million for companies and N5 million for individuals. The reports are sent on weekly basis  to NFIU, CBN and EFCC.

    The BDCs also do customers Know Your Customer (KYC) and due diligence reports.

    Daily Transaction Returns (DTR) gives details of the total sales made for the day by the BDC and comes in as DTR 202, DTR 217, DTR 305 and DTR 315.

    The DTR 217 return gives the information of the customers of whom the forex was sold to. Information like, the name, the international Passport number, Bank Verification Number, address, TIN number, email address among others while DTR 305 provides details of the customers as well their destination and reason for the purchase of forex. The total amount of forex sold to them is also mentioned with the transaction date.

  • A roadmap for environment and water resources

    Lagos State Governor, Babajide Olusola Sanwo-Olu sold a dummy before a capacity crowd of family members, top technocrats, party leaders and new cabinet members who had gathered at the Adeyemi Bero Auditorium, Alausa for the swearing in of members of the state Executive Council on Tuesday, August 20. While reading out the names and portfolios of his cabinet members, he said: “Mr Tunji Bello, Commissioner for Water Resources and….. He was not allowed to  complete his sentence when the crowd went into an exclamatory ‘Haaaaa’ which was however deflated when the Governor concluded his sentence by adding “and the Environment”. The import of the remark by the crowd was not lost on many who had anticipated that a two -time commissioner for the environment, Tunji Bello might stage a return as the commissioner for the environment. What many never bargained for was that he would have an enlarged portfolio that will include water resources management.

    Before then the governor had given some inkling that with his administration, it would not be business as usual for the management of the environment as he signed his first executive order on indiscriminate refuse dumping, traffic management and public work. That singular move gave a fillip to the efforts to arrest the drift which the unresolved issue of clearing the streets and neighbourhoods of refuse has brought upon Lagos State. For all those who thought Lagos was once again returning to the notorious toga of the city of mountainous heaps of refuse, it is either you shape up or you ship out. His body language was very demonstrative that he would enforce the law as it concerns infractions which were gradually gaining a foothold in our day to day life.

    He ensured that the State Waste Management Authority (LAWMA) returned to prime position of regulator in managing generated waste in the state. The organisation aggressively resumed the clearing of refuse from the streets and the several illegal dump sites that daily assaults our faces and nostril with its oozing stench. Several of the vehicles of LAWMA which had disappeared from the streets resurfaced and were complimented by Private Sector Participants (PSP) operators. It is however expected that the Private Sector Participant (PSP) waste operators who were pivotal to the successes recorded some years ago in clearing refuse from the nooks and crannies of the state would still be central to achieving a much cleaner Lagos dream of the present administration.

    There is no doubt that the capacity of the PSP operators have been greatly diminished. One expects help to noaw come from the state government to provide capacity to the operators. Presently, what we see on the roads daily are ramshackle trucks that have seen better days. If assistance is provided and new trucks procured, it will not only improve the profitability of the PSP companies, it will also improve efficiency in terms of the volume of waste carted away from the streets and tenements. Additionally, the presence of  more street sweepers in their brightly colored uniforms on the highways is highly desirable. For now, very little of their activities are being felt on many of the roads they usually operate from before now because their numbers have reduced considerably. One recall with nostalgia, couple of years ago, when they readily complimented the cleaning efforts of the state by continually sweeping the streets and highways.

    Just as the major landfill site in the state at Olusosun may get filled up in the next four or five years but before that happens, embracing a culture of waste sorting becomes desirable. Through waste sorting, biogradeable materials are set aside and leading to waste buy back which could open new vistas of limitless economic opportunities for those in the business of waste buy back. It is a venture that needs to be encouraged wholesomely. In addition to being a profitable economic venture, it will also help reduce the volume of waste generated on a daily basis in lagos  which presently stands at 14 ,000 metric tonnes from the 10,000 metric tonnes which it was some four years ago. In several ways it would be a win-win situation for all. The economic fortune of many people would be improved. Generated waste is reduced considerably and the environment is the better for it.

    By the latest decision to expand the scope of the ministry of the environment to include water resources, the governor has positioned the ministry to go beyond mere managing the drainages in Lagos State and preventing flooding but also going a notch higher by managing all the water bodies. It would also be the responsibility of the new ministry to collaborate with the Nigerian Metrological Service. We should have no apprehensions anymore whenever NIMET issues its rainfall alert because apart from having foolproof measures in place to tackle the anticipated emergencies, the state would also monitor the five major rivers discharge into the state. The time has also come for concerted efforts to be heightened to convert all the waste water in the state into safe and usable water. The reticulation of major water network should be improved upon and ensure that mini water works that are not working at optimum capacity are improved upon. When public water supply improves with attendant reticulation, a lot of the boreholes that are springing up in many neighbourhoods and causing incalculable damages and pollution to the water bed would have no uses. It would also manage the wetlands which are some of nature’s provision of balancing the eco system.

    Several parks and gardens dot the Lagos landscape and constitutes some of the beautiful exotic spots and sights of the state. However, many of such parks can still do with additional support from corporate organisations as it was the practice couple of years back. Every yuletide period evoke beautiful memories of the Zenith Bank Park at Adeola Odeku in Victoria Island. Nothing stops several others blue chip companies taking up other similar parks which would not only project such companies favorably but would also be very good corporate social responsibility steps. n this light, the State Parks and Garden Agency must also ensure that all open spaces and set backs are beautified and secured. Part of the strategy as it was adopted before, was to make use of the good boys and girls who populate the areas close to the beautified spaces to secure them by hiring them to work on the landscape areas.

    Punitive measures should also be taken against people who cut trees indiscriminately without permit and contribute to depleting the ozone layer without planting many to replace the cut trees. For now, many believe that it is nobody’s business, if a tree is fell by an individual, after all nobody own such trees but little do they realize that a tree is a living organism and that cutting a tree is akin to killing a living soul or committing murder! Until a few people are made examples of and prosecuted, the message may not sink as desired. On a yearly basis, tree planting exercises are held with fanfare at all level of government. Much more needs to be done.  The trees planted annually should be tended and monitored so that years after, such trees can grow into adulthood. This unwholesome act if not checked would make some specie of trees become extinct .The greening of Lagos and attaining a flood free, sustainable environment is a task that must be done by every resident.

    • Adeshina is Director( Public Affairs), Ministry of The Environment and Water Resources, Lagos State.

  • Pension complaints and solutions

    Okoroafor: I am Mrs. Okoroafor. My late husband Mr Okoroafor was with Stanbic IBTC Pension. His last work place, before he passed away on June 22, 2013, was the Nigeria Immigration Service (NIS) headquarters, Abuja. We have done everything possible, but have not received any payment in the last five years since his death. The details are attached2

    STANBIC IBTC PENSION: With regards to your enquiry on the payment of the late Mr Okoroafor‘s benefits, we would like to clarify the following: That a prerequisite for processing payments due to public sector employees (retired/deceased) is the remittance of the accrued pension benefits attributed to such employees by the National Pension Commission (PenCom) as well as the reconciliation of their Retirement Savings Account (RSA). That the late Mr Okoroafor worked with the Nigerian Immigration Service prior to his demise, hence, a request was made by Stanbic IBTC Pension Managers Limited to the National Pension Commission (PenCom) for the remittance of his accrued pension benefits and the reconciliation of his RSA upon submission of the notification documents by his beneficiary.

    Upon receipt of the deceased’s benefits from PenCom, efforts were made to contact the beneficiary, Mrs Okoroafor, via her mobile number on our database without success. At the moment, we are yet to receive the death benefits application documents from the beneficiary to enable us seek payment approval from PenCom.

    We request that you kindly assist in informing Mrs Okoroafor to visit the nearest Stanbic IBTC Pension office to submit the documents listed on the attached checklist to apply for payment.

    OYEKALE: I registered with Stanbic IBTC Pension, but my money is going to ARM Pension Manager, which I did not register with. My request is that they should transfer my money with interest to Stanbic IBTC.

    PENCOM: Please visit your PFA to undergo data recapturing to solve this issue.

    MRS OGENE: My name is Mrs Bridget, wife and next-of-kin to the late Ogene, who died on September 15, 2011. Until his death, he served in the Federal Ministry of Lands, Housing and Urban Development, Mabushi, Abuja for 28 years. Till date, the group life insurance has not been paid. I was directed to the Head of Service for payment and all required documents were submitted. Whenever I called, I was told that the government has not released money for payment. Many files have been approved for payment at each PFA and my name is not among them. I have been waiting since 2011. Kindly help me.

    PENCOM: Please contact the office of the Head of Service for payment of your late husband’s Group Life.

    EKELEME: I work with the University of Nigeria, Nsukka and I registered with First Guarantee Pension. I have not received any update on my pension since 2013. Please what can I do? Their website is not too good. Thanks.

    PENCOM: Please contact the nearest First Guarantee Pension office (PFA) to you and notify them of this. They can be reached on 012715505.

    REUBEN: I was promoted to the rank of Assistant Superintendent of Police (ASP) after the pension verification on July 20, 2017.  I sent my  evidence of promotion dated  December 15,  2017 after the verification through Southsouth Zonal Office of  your commission in Calabar, Cross-River State. But I was paid below my grade and step. What can I do?

    PENCOM: Please we would require your PIN in order for us to assist you further.

    OLAYORI: My name is Olayori Oladapo Fasiu. I am a retiree of the National Assembly Commission.  I worked as a Legislative Aide to a former Senator. We left the National Assembly in 2011 and I have been collecting N7872.87 monthly as pension. However, since last November, the payment has stopped. My pension company is IEI Anchor Pensions. It would be appreciated if you could assist to find out why the payment was stopped. Thank you for your anticipated cooperation.

    PENCOM: Please we would require your PIN in order for us to assist you further.

    ABDULSALAM: My name is Abdulsalam, a staff member of Yaba Local Council Development Area (LCDA). I have been with Stanbic IBTC PFA since its inception but just this month my pension fund was transferred to Leadway Pension without my authorisation. Please what can I do because I want IBTC as pension manager.

    PENCOM: Please visit your PFA to undergo data recapturing to solve this issue.

     FATIMEHIN: My name is Fatimehin. I am the next-of-kin to the late Mrs fatimehin. She passed away on July 10, 2014. She was a staff member of Federal Polytechnic, Offa. Her PFA is Leadway Pensure in which little amount of money was paid in May 2017 and since then, nothing has been paid again. All the documents requested have been submitted.

    PENCOM: Please note that the Accrued Right was paid under Deceased Batch No. 47 in May 2017. You may please contact your PFA.

  • Boosting entrepreneurship through green opportunities

    Renewable energy saves scarce resources, maintains healthy ecosystems, minimises pollution and waste. It also creates jobs and boosts entrepreneurship, DANIEL ESSIET reports.

    Green businesses that safeguard the health of consumers and communities are generating jobs and boosting entrepreneurship. One of them is renewable energy, which fuels some businesses.

    The growth in renewable energy is creating new jobs in Africa. Experts see green business as a win-win solution to address development challenges. The renewable energy job market is booming. It is estimated that it will create 24 million jobs worldwide by 2030 – up from 9.2 million reported in 2014.

    According to the International Renewable Energy Industry (Irena), the proportion of renewables in the global energy mix will double and increase gross domestic product (GDP) by up to $1.3 trillion across the world.

    In 2014, it accounted for more than 2.5 million jobs, largely in operations, maintenance and manufacturing – now increasingly dominated by a jobs boom in Asia.

    As Nigeria explores ways of tackling high unemployment rate, experts say the country’s $250 billion potential in green economy could play a vital role in this regard. They say entrepreneurs can tap into the enormous opportunities in the green space to create millions of jobs.

    A green economy is low in carbon, resource efficient and socially inclusive, according to the United Nations Environmental Programme (UNEP). In a green economy, growth in employment and income are driven by public and private investment into such economic activities, infrastructure and assets that allow reduced carbon emissions and pollution, enhanced energy and resource efficiency, and prevention of the loss of biodiversity and ecosystem services, UNEP adds.

    The experts, who spoke at a forum organised by the Nigeria Climate Innovation Centre (NCIC) in Lagos recently, said with the consequences of climate change on the ecosystem, it is imperative that entrepreneurs leverage the opportunities in the green space to create solutions and wealth.

    “Nigeria has power gaps of about $200 billion, agricultural waste of 40 percent and 200 million people creating waste that is not recycled,”  Chief Executive, All On, Wieber Boer, said.

    “This shows that there is a huge investment opportunity in the country’s green economy that entrepreneurs can tap into by creating solutions that are viable and sustainable to these challenges,” Wieber said. All On is a company set up by Shell Company with a mission to increase access to commercial energy products and services for underserved and unserved off-grid energy markets in Nigeria, with a special focus on the Niger Delta.

    He stated that with more solutions being provided to address climate change, the country will be able to create new jobs and scale the opportunities in the green economy.

    He noted that it would be hard for the country to build a green economy, if the government continues to subsidise petrol.

    According to him, the green growth sector offers great economic and ecological benefits for small businesses and is estimated to grow considerably in the coming years.

    Also, NCIC Chief Executive Bankole Oloruntoba said the global green economy is a multi-trillion dollar economy, which the country’s entrepreneurs could harness through innovative solutions.

    “If Nigeria is able to develop conducive environment for the growth of the green economy, the country could have a massive share from the over $14 trillion global green economy,” Oloruntoba said.

    “In Nigeria the challenges are enormous and if we can create some form of opportunities to support businesses in that space in terms of capacity, it will create a rival opportunity for the country to build an economy that does not depend on crude oil,” he said.

    “The green economy gives the country the opportunity to create more jobs and there are lots of opportunities in the green space with covers from media, to transportation, to waste management and even to educate among others,” he further said.

    He noted that the NCIC was providing technical training to start-ups that are creating solutions to issues of climate change.

    He said his organisation was planning to create a fund for businesses in the green space with the  Central Bank of Nigeria (CBN).

    Charge d’ Affaires of Ireland Bob Patterson, while reeling out some of his country’s programmes for growing its green economy, said that Ireland would continue to support Nigeria in growing its own green space.

    “Agricultural practices are significant and major contributors of climate change and we must find ways to address this,” Patterson said.

    “We are committed to supporting diversification within agriculture and land use to develop sustainable and circular value chains and business models for lower carbon intensifying farming,” he noted.

  • Agric Summit: Positioning Nigeria to feed Africa

    The Agricultural Summit fits into the African Union’s goal to drive Intra-African trade enunciated in the African Continental Free Trade Agreement (AfCFTA), reports Daniel Essiet

    The oft-repeated declaration that Nigeria is the giant of Africa is mainly due to its abundant human and natural resources. Indeed, the country is so blessed with vast arable land to the extent that experts have regularly expressed the view that Nigeria has the potential to feed its teeming population and the rest of Africa if the agriculture sector is properly harnessed.

    Nonetheless, the potential of the agriculture sector has remained largely untapped despite its capacity for employment generation, food security and poverty reduction in the country. But there is hope that the drive to achieve a hunger-free Nigeria remains a feasible one.

    Sterling Bank has taken up the challenge of addressing issues preventing the agriculture sector from attaining its full potential through Agriculture Summit Africa holding in Abuja, from the 5th to 6th of September 2019.

    The theme of the continental summit which seeks to transform Nigeria into a global leader in food production, processing and marketing is “Agriculture – Your Piece of The Trillion-Dollar Economy”.

    A timely initiative,  the continental summit is convened to address the future of agriculture in Nigeria and Africa at a point the continent is becoming a single market with over 1.2 billion people through the Continental Free Trade Area (AfCFTA) treaty.

    Addressing the media in Lagos on Agriculture Summit Africa which will bring together policy makers, development agencies, international finance institutions and value chain players on the continent, Yemi Odubiyi, Executive Director, Corporate and Investment Banking, Sterling Bank, said it will address the issues preventing the very important sector from attaining its potential because food security on the continent has become a critical issue.

    Odubiyi disclosed agrarian land are becoming increasingly desolate in the face of climate change and rapid population growth making food security a big challenge. Using Nigeria with population estimated at 200 million as an example, he emphasized Africa’s food security challenge by pointing out that the country’s annual population growth rate of 3 percent outstrips economic growth rate at less than 3 percent.

    “Agriculture is the focus of the government of the day in Nigeria, and it is one that has been well chosen. It will be difficult to stabilise the country until the food security challenge is addressed, and we very much appreciate the initiatives of all stakeholders addressing this same issue. We are very happy to make this our contribution to that effort. Agriculture Summit Africa will address food security and the other big problem which is job creation for young people. We all know the capacity to generate jobs that agriculture has and we believe that by supporting the sector, we will be contributing a great deal to solving the unemployment problem in Nigeria”, Odubiyi remarked.

    He added that his bank is in a unique position because of the H.E.A.R.T of Sterling Project which makes agriculture the centerpiece of its specialised focused sectors in Nigeria. “We have over the last nine years developed the leading agriculture finance business in Nigeria with about 10 per cent of our loan book in the sector. And that preceded the government policy on lending to the agriculture sector. We also are aware of Continental Free Trade Area (AfCFTA) treaty which took Nigeria some time to endorse.

    “From a market of about 200 million, we suddenly face a potential market of 1.2 billion people if we know what we are doing as a country. We can export agricultural products to other African countries, not just to Europe and that’s what getting a piece of Africa’s $1 trillion agribusiness economy is all about. Working with all other stakeholders, Sterling can help build farming businesses from small land holders to very large, sophisticated operations that help enhance food security in Nigeria.”

    The bank’s pedigree in agriculture financing is impeccable. It is oneof the first commercial banks in the country to participate in the Central Bank of Nigeria’s (CBN’s) Anchor Borrowers Programme (ABP) for smallholder farmers in Kebbi, Sokoto, Zamfara, Kaduna, Ogun and Oyo states in partnership with development financial institutions such as DFID-PropCom and DFID-MADE. Sterling Bank is deeply involved in the funding of vital agricultural projects across the country.

    Also speaking, Bukola Awosanya, Group Head, Agriculture and Export, Sterling Bank, explained that the first agriculture summit organised by the bank last year brought together smallholder farmers, input suppliers, agro-processing entrepreneurs, development finance agencies, policy makers and captains of industry in Abuja. According to her, the 2018 summit focused on co-creating a sustainable Nigerian economy through rural agricultural enterprise.

    “This year, we have raised the bar by unveiling the Agriculture Summit Africa, which is a more ambitious attempt at addressing issues preventing agribusiness in Africa from attaining their full potential,” she said. She added that it should surprise no one that Sterling Bank and its partners are leading the charge to address the issues facing agribusiness on the continent.

    She said Sterling Bank has helped a lot in developing the country’s agriculture value chain, adding the bank is a thought leader and the preferred lender for smallholder farmers, agribusinesses, input suppliers and other players in the local agricultural value chain.

    “We are quite proud of our huge intervention in the agriculture value chain which is creating food security, stimulating job creation, while also enhancing the income of farmers in agrarian such as states Kebbi, Sokoto, Zamfara, Kaduna, Bauchi, Ogun, Imo andFCT Abuja, among others.”

  • Governors: Traffic can kill business

    ABCDEFGGHI=Avoid Bribery & Corruption Daily Everywhere For Good Governance Here Immediately.

    Improving the ‘Ease of Doing Business’ achieves SDGs and is a challenge at every level of governance including Local Government Areas and private business. However it makes sense to simplify the measurement of ‘The Ease of Doing Business’ and introduce UN-Rating and UN-Recognised Happiness Factor manifest by putting a smile on the face of all interacting with government agencies and agents and not just federal government contact points. Beyond the ‘Ease of Doing Business’ in the secretariat, ministry, passport office or Corporate Affairs Commission, other actions will improve the total business experience. No governor should forget that traffic is a 20-40% unacknowledged chunk of our ‘doing business life’. If your trip to and from the point of doing business is a complicated dreaded nightmare, a potholed journey with uncontrolled chaotic traffic, then your government is failing and has work to do!

    Governors and LGA chairpersons:  There are three often neglected components to the ‘Ease of Doing Business’ in your jurisdiction. 1] getting to the business quickly, 2] doing the business promptly and 3] getting back home quickly. Any morning sometimes from 5am in Lagos and 6-6.30am you may see people struggling to go to business- airports, work, school. A 10-minute delay in leaving home can add 1-2 hours to travel torture. Unfortunately you will rarely find active police and traffic officials at junctions before 7.30-8am. This creates a daily routine but unacceptable and unnecessary transport and security problem. Traffic officials must be in attendance earlier than the traffic jam for easier business access. I pass through three important unmanned junctions on the way to business and each of them deteriorates rapidly into a ‘me -first’ traffic chaos after 7.15am thus making business difficult. Unfortunately at the Awolowo-Secretariat Road junction in Ibadan even when the female police officials are there, one chronically behaves very unprofessionally, openly pursuing a personal agenda soliciting funds from drivers without censure. Fortunately there is a super-efficient traffic warden at the Customs junction 500 metres away. Where are the supervisors? Who trains them? Transport officials must be supervised by governments and security authorities using simple cell-phone recordings to monitor their work and confirm they are on duty to preempt traffic chaos.

    Number two: Doing the business and is a topic on its own.

    Number three- the ‘Ease of Getting Away from Business’ is as important as the business. Governments must care better for the citizen snarled in needless unsupervised traffic. Back in the 80s, we were deprived by our myopic military leadership and subsequent political class of using the inner-city train in Nigeria and are struggling to revive it. After work and during rains, the junctions and roundabouts are not adequately manned by traffic personnel creating a huge traffic jam nightly. The government’s traffic eyes and ears cannot close at 4.00 or 6pm. There must be working modern ‘Traffic HQ’ working 5am-10pm to supervise, deploy personnel or directly monitor and help the citizen get home. Government must study the traffic at junctions and roundabouts until 9-10pm. I often see traffic police strolling to their posts or receiving orders at 7.30am in police stations while traffic is impassable a few metres away. There is only one solution to this difficulty in doing business. Deploy police and traffic officers earlier and keep them on duty later at junction and roundabouts and provide raincoats and umbrellas for the catastrophic traffic when it rains. This progressive traffic management requires great thought, a masterplan, warlike deployment of personnel women and adequate supervision of same to avoid excessive opportunities for corruption.

    We really appreciate the headlong rush by government at all levels to talk freely about the ‘Ease of Doing Business’ an international yardstick to meet the SDGs under the purview of the vice president of behalf of government. Thankfully we have climbed up several notches. But the Nigerian citizens at home and abroad people know the truth when they visit to request government provided services from secretariat, passport and driving license offices and even courts. The media is rife with video evidence of the incompetent behavior common in Nigerian embassies closed for unannounced public holidays without even sending an email to those given appointments for these dates and also failings in passport and visa responsibilities making things successful only at lastminute.com or never.

    Carry out the ‘Ease of doing Business Test’ in your secretariat. Just look for the reaction when you as governor or LGA chairperson ask a cross section of Nigerians to visit any government facility and look for the immediate response – a frown, a neutral face or a smile or indifference. You will probably see an expression of fear. Most often you will get an excuse requesting someone else to go instead because of the expected disrespect, incompetence and deliberate obstructions. Nigeria is seeking to turn from an attitude of hindrance to that of help, from corruption to cooperation, from denials to ‘can do’. What a change. Amen!

    Mr Governor: Traffic is life and government’s main business and not nuclear physics. Judge yourself not only in IGR but also by how you have improved ‘The Ease of Living, Leaving and Entering your state and LGAs’ -traffic- and using government services.  And please remember that No Parking= No business. Traders need to be moved back freeing the roads and taxis, okada, keke, danfo need to be moved away from obstructing junction exits.

  • Oyetola and the policy of all-inclusive governance

    A somewhat melodramatic pose played out at a recent press briefing by the Osun State Governor, Adegboyega Oyetola, held in Iragbiji, the Governor’s country home.

    A question, reminding the governor of his promise to run an all-inclusive, all participatory government and seeking to know if that would literally translate to possible appointment of members of the opposition parties into his cabinet had put to test the brilliance and intelligence of a man with few words but mighty action.

    The questioner had, perhaps, misconstrued the notion of all-inclusive leadership to mean a direct involvement of the opposition or he merely intended to generate such as controversial news feast for his medium.

    On the faces of some came an expression of disapproval and you could hear them susurrating like the wind fingering the pines. Then, there was sudden silence and, of course, suspense, as all waited with bated breath to hear from the horse’s mouth. It was the first time the governor would speak on what the composition of his cabinet would be.

    Before then, there had been concerns over a fake list of commissioner nominees circulating on social media. In his remarkably calm, unruffled nature, the governor had decided to keep mum over the fake list and keep people guessing.

    But this time, Mr. Governor must clear the air. His terse response would later douse the tension. No member of the opposition parties would make the list of his cabinet already being prepared through the instrumentality and thorough scrutiny of party nominations from across the federal constituencies.

    What is curious is that this iconic image of purposeful and responsible leadership that characterises Oyetola’s diplomatic approach to governance in Osun State would easily give him away as a true party patriot who has the excellent mastery of bringing standard and finesse to the age long global democratic practices of appointing people to positions of leadership on the basis of partisan loyalty.

    His approach is simple: the party should nominate the best from their respective constituencies, since the ruling party itself, with a wide spread across the state, parades a membership of brilliant progressives who share the same manifesto with ability and compulsion to drive the good programmes of government for the people and take the land of virtue to greater heights.

    It would have been a disservice to the good people of Osun State for Oyetola to allow an incursion of strange fellows from the opposition parties with ulterior vision and selfish agenda to loot and further put their future and destiny on a repeating loop.

    To draw a thin line between the patronage system and his all-inclusive policy, Oyetola said his government would remain open to good ideas from the opposition on how to better drive his government’s developmental programmes. That is just an aspect of his pledge to make its government an all participatory one.

    Oyetola’s policies and programmes are driven by citizens’ needs, which were harvested during the “thank you tour/town hall meetings, where the people presented their yearnings and aspirations to the government. This responsible and all-inclusive approach has been validated in a report of the United Kingdom Department for International Development’s (DFID) funded Citizens’ Needs Assessment exercise in Osun recently submitted to the governor.

    The report recommends that the government should integrate citizens’ demands into the state’s planning and policy development and implementation frameworks. The report also recommends the need for the government to establish and strengthen the platform for feedbacks from citizens on project implementation. The last recommendation in the report centres on the need for government to build trust with citizens through fiscal implementation and accountability.

    Also contained in the report presented to the governor was a plethora of demands by the citizens of the state, including farmers, youths, women and children from Oyetola administration. Part of the short and medium-term demands of the citizens, according to the report, included sensitisation of adult citizens to parental responsibilities, creation of an enabling environment for business and setting up of monitoring team on waste disposal.

    Other needs include a direct dealing by the government, provision of infrastructure, irrigation facilities for farmers in the rural areas, improved security, improved water and power supply, among others.

    While receiving the report, the governor thanked the foreign agencies that conducted the exercise for further assisting the government in reaching out to the residents and citizens to know their needs.

    He assured that the government would implement all the recommendations in the report which he described as constructive and being in tandem with the plan of his administration for the state and the people.

    Since he received the baton of leadership in November last year, Oyetola had hit the ground running; offering the best at an appreciable pace, in spite of paucity of funds. Cabinet or no cabinet, commissioners or no commissioners, his achievements in the last nine months have been a quantum leap.

    From stemming the tide of insecurity, revamping the health sector, boosting the educational profile of the state to continuous infrastructure development, the race to greater heights has continued unabated.

    As the Chief Security Officer of the State, the governor’s efforts at securing the lives and property of residents and people of Osun State have been very rewarding, so much so that the Osun State has continued to retain, sustain and maintain its age long status of being the most secure and peaceful state in the Southwest if not in the country.

    An elder statesman and former Nigerian Head of State, General Yakubu Gowon (rtd) attested to this during his visit to the state early this month with his Nigeria Prays Movement team. Another testimony of this feat is the just-concluded Osun Osogbo Festival, which pooled over one million participants, including tourists from different parts of the world. They all came, had a great time and left in peace.

    The success story continues in the area of education. With the newly established Ileri Oluwa Fulfilling Promises Educational Programme, educational sector now awaits a new phase of transformation. The programme, according to Oyetola, comes with a consolidated approach whose key elements are rebuilding, remodeling and total rehabilitation of existing school buildings and construction of new blocks of classrooms in a redesigned and repackaged approach to school infrastructure renewal, intended to reach every nook and cranny of the state within available human and material resources.

    As part of its educational support programme, the government of Oyetola also founded Osun Edu Marshals with core responsibility of enforcing discipline and regular attendance by pupils. It is believed that this intervention will substantially improve the profile of education and nudge it to the frontline among educationally performing states in the nation.

    Already, the government has commenced action on implementation of this laudable programme with recent inauguration of school projects at both Telemu Comprehensive Middle High School and Morinu Community Elementary School in Ola-Oluwa local government and Iwo local government areas respectively.

    What is more interesting in this government’s developmental programmes is its aggressive drive toward improving the health sector through the deployment of technology-based approach, to ensure quality and affordable health care delivery to the people. This administration had, on assumption of office, commenced work on the revitalisation of nine general hospitals and 332 primary health centres – one in each ward – across the state. About 100 PHs have already been completed, waiting inauguration.

    The government’s revitalisation programme is holistic. It comes with the use of technology to boost health care delivery, provision of modern equipment, training and re-training of members of staff for efficient health care services. The essence of this aggressive focus on health, which experts say is wealth, appears to be borne out of a resolve to power all the sectors of the state to deliver prosperity and good life to the people.

    In order to give prompt vent to this resolve, Oyetola executed the flag-off of the facilities in Ejigbo (Osun West) and Ifetedo (Osun East) Senatorial Districts, barely three months into his administration. Work has reached advanced stages on the two projects. They will be delivered very soon.

    A few days ago, the governor moved to complete the one-per-senatorial district revitalisation of hospitals with an expansion project at the State Specialist Hospital, Asubiaro, Osogbo as he turned the sod of 120-bed ward and 30 doctors’ quarters within the hospital, being the flagship of the facilities under the Hospitals Management Board.

    It is instructive to note that this administration had earlier carried out major works on the theatre complex, blood bank building, medical laboratory, trauma centre, hope clinic and the external wall of the hospital.

    This year, the government of Oyetola has executed six major campaigns and capacity efforts to boost impact and efficiency. These are maternal, neonatal and child week; immunisation plus days; exclusive breast feeding campaign; polio eradication campaign; net hanging campaign and facility level training for the activation of basic health care provision fund in Osun.

    And to cap it up, Osun State Agency for the Control of HIV/AIDS (O’SACA) will soon start a project that will involve the introduction of incentives for expectant mothers who attend ante-natal clinic and have HIV test results.

    The story of Governor Oyetola’s all-inclusive approach to governance cannot be narrated in a hurry. The impacts of his administration are being felt by the people, both in the rural and urban settlements. Everybody is being carried along. His commitment to the welfare of workers (both active and passive) remains unshakable. Workers have been getting their full salaries as and when due while huge amounts of money are being released from the available resources, time to time, to pay the pension benefits of retirees.

    More than 500 kilometers of mechanically maintained roads are being constructed in rural communities across the state, with 228 kilometers already inaugurated while the remaining 306 are at various completion stages.

    These roads would aid easy transportation of farm produce from rural to urban areas. Eleven fully equipped fire service stations have been reconstructed across the state, with 14 fire fighting vehicles. Two of the fire stations were recently inaugurated by the governor in Ede and Ejigbo. All these, to mention a few, are in addition to the ongoing rehabilitation and maintenance of all existing roads within the state and the state’s huge contribution to the ongoing collaborative efforts of the states in the Southwest in building a formidable security network to fight crimes in the region.

    What is most amazing is how Oyetola has managed the available meager resources to achieve so much within the short time frame. And for him, the work has just begun. It is no surprise that Asiwaju Bola Ahmed Tinubu described him as an encyclopedia of finance.

    Personally, I see him as a gift to humanity and a deserving blessing for the people of Osun State. It may appear too early to begin showcasing his score card, but those who can fathom the depth of the numerous achievements of his administration in the last nine months would quite agree that Oyetola deserves applause.

    • Oyekunle is Senior Special Assistant (Media) to Governor Oyetola