Tag: the nation

  • Awards haul: Edun, Dare hail The Nation

    Awards haul: Edun, Dare hail The Nation

     

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    Members of Board of Directors of Vintage Press Limited, publisher of The Nation titles, were excited about the newspaper’s outing at the 25th Nigeria Media Merit Award (NMMA) held in Victoria Island last Sunday.
    The Nation reporters won 13 prizes at the event, confirming the company’s rating as Nigeria’s leading newspaper. The awards were won out of the 26 nominations this newspaper received.
    While congratulating the winners, the Board chairman, Mr Wale Edun, said the feat was an indication of The Nation’s quality output in news reporting, feature writing and commentaries. He praised the management and the editorial staff for sustaining the culture of professionalism and ethical practice.
    He said: “Many congratulations to the winners on another great outing for the newspaper and the company. This achievement shows The Nation is a credible voice in the nation and possesses quality reports in news, feature writing, commentaries and analyses.
    “For democracy to be sustained in our nation, the media must be credible. The quality of a newspaper’s output must be high. With the awards, The Nation has shown leadership in this respect. I congratulate the winners.”
    The Nation Editorial Adviser and an Emeritus Professor of Journalism, Olatunji Dare, described the accomplishment as “another bountiful harvest”, saying it was the best way to round off the year.
    Dare congratulated the company’s editorial members and photographers, who won awards and recognition for their “superior work”, saying it was cheering the respected journalism veterans and industry leaders on the NMMA judges’ panel ranked the newspaper high among its competitors.
    He said: “Congratulations to management for continuing to provide the resources for doing outstanding journalism, despite the harsh operating environment. We have been honoured so many times in so many ways that some may have come to see our winning as a routine.
    “There is nothing routine about winning.  It comes with sustained commitment to producing the best work possible under the circumstances. It comes with commitment and dedication. Even as we celebrate, we must be relentless in our striving for excellence.”
    New Telegraph won in four categories from its 13 nominations.  The Punch won two prizes from its 14 nominations. Nigerian Tribune won three awards.
    The Guardian won in ttwo categories. The Sun won one award in the Cartoonist of the Year category.
    The Nation’s Associate Editor Olatunji Ololade won three awards— Bashorun M.K.O. Abiola Prize for Sports Reporting, Gani Fawehinmi Prize for Human Rights Reporting and Sonny Odogwu Prize for Business Reporting.
    The Head of Investigation Desk and multiple-award winner Adekunle Yusuf also won two awards—Adamu Mu’azu Prize for Tourism Reporting and Chevron Nigeria Prize for Oil and Gas Reporting.
    An Assistant Editor, Seun Akioye, won the Olagunsoye Oyinlola Prize for Culture and Tradition Reporting. He was a runner-up in the Olusegun Mimiko Prize for Foreign News Reporting category.
    Chief Correspondent on the Features Desk, The Nation on Sunday, Gboyega Alaka, won the Olu Aboderin Prize for Entertainment Reporting.
    Senior Finance Correspondent Collins Nweze won the Union Bank Prize for Banking and Finance Reporting and the UBA Prize for Money Market Reporting.
    An Assistant Editor on the Business Desk, Lucas Ajanaku, won the MTN Prize for Telecommunication Reporting.
    Senior Correspondent Adeyinka Aderibigbe won the Abubakar Imam Prize for Newspaper Feature Writer of the Year. Abiodun Williams won the Photographer of the Year.
    Reporter Hannah Ojo clinched the Etisalat Prize for Most Innovative Reporting.
    Others who made good showing in The Nation stable are Sina Fadare, Chikodi Okereocha, Joseph Jibueze, Innocent Duru, Azeez Ozi-Sanni and Olatunde Odebiyi, who were runners –up in various categories.
    New Telegraph’s Isioma Madike won two prizes—Energy Correspondent of the Year and Insurance Reporter of the Year.  His colleagues, Oluwatosin Omoniyi (Agric Reporter of the Year) and Juliana Francis (Defence Reporter of the Year).
    The Punch reporters Arukaino Umukoro won Real Estate/Construction Reporter of the Year and Dayo Oketola won the Power Reporter of the Year.
    Abuja-based Daily Trust won the Babatunde Jose Prize for Newspaper of the Year and its Editor, Nasiru Lawal, was declared Editor of the Year.
    In the television category, DSTV’s Yvonne Bassey clinched two awards – Cadbury Nigeria Plc Prize for Television Reporting, and Television Production of the Year. Channels TV’s Amarachi Ubani won Television Newscaster of the Year.
    Channels TV won the NBC Prize for Television Station of the Year. Its chairman Mr John Momoh led station’s employees to receive the award.
    Also, Ray Power FM picked the NBC Prize for Television Station of the Year, while Harriet Parkinson of Radio Nigeria won Radio Reporter of the Year.
    Also, this newspaper won five awards at the Diamond Awards for Media Excellence (DAME) held earlier this month. There were 20 awards offered.
    Yusuf beat Mary Fadile of Federal Radio Corporation of Nigeria (FRCN) to win the Nigerian Press Council Prize for Editorial Integrity.
    Another Assistant Editor, Chikodi Okereocha, picked two awards. He won the News Agency of Nigeria Prize for Agriculture Reporting with his entry titled: “How smugglers hamper rice policy, frustrate investors”. Reporter Ojo was a finalist in this category.
    Okereocha’s second entry titled: “Devaluation: Harsh climate for manufacturers, workers” won the Aliko Dangote Prize for Business Reporting. Okereocha beat The Nation’s Okwy Iroegbu-Chikezie and The Punch’s Nike Popoola. Iroegbu-Chikezie’s entry was Private sector grumbles as CBN defends its policies.
    Senior Correspondent Joseph Jibueze also clinched two DAME awards. He won the Mobil Producing Prize for Energy Reporting and Justice Omotayo Onalaja Prize for Judicial Reporting.
    Jibueze won the Judicial Reporting Prize for the third consecutive time, becoming the first reporter with such feat in DAME’s history.
    Ozi-Sanni, was a finalist in Vanguard Media Prize for Editorial Cartooning won by The Punch Bennett Omeke.

     

  • The Nation confirms class with harvest of 13 awards at NMMA

    The Nation confirms class with harvest of 13 awards at NMMA

    With 13 prizes at the Nigeria Media Merit Award (NMMA) in Lagos last night, The Nation has confirmed its rating as Nigeria’s leading newspaper.

    The awards were won out of the 26 nominations this newspaper received.

    New Telegraph won in four categories.  The Punch won two prizes from its 14 nominations.

    The Nation‘s star writer and Associate Editor Olatunji Ololade won three awards— Bashorun M.K.O. Abiola Prize for Sports Reporter of the Year, Gani Fawehinmi Prize for Human Rights Reporter of the Year and Sonny Odogwu Prize for Business Reporter of the Year.

    The Head of Investigation Desk and multiple-award winner Adekunle Yusuf also won two awards—Adamu Mu’azu Prize for Tourism Reporter of the Year and Chevron Nigeria Prize for Oil and Gas Reporter of the Year.

    An Assistant Editor, Seun Akioye, won the Olagunsoye Oyinlola Prize for Culture and Tradition Reporter of the Year. He was a runner-up in the Olusegun Mimiko Prize for Foreign News Reporter category.

    A Correspondent on the Features Desk, The Nation on Sunday, Gboyega Alaka, won the Olu Aboderin Prize for Entertainment Reporter of the Year.

    Senior Finance Correspondent Collins Nweze  won  the Union Bank Prize for Banking and Finance Reporter of the Year and the UBA Prize for Money Market Reporting.

    An Assistant Editor on the Business Desk Lucas Ajanaku won the MTN Prize for Telecommunication Reporting.

    Senior Correspondent Adeyinka Aderibigbe won the Abubakar Imam Prize for Newspaper Feature Writer of the Year. Abiodun Williams won the Photographer of the Year.

    Reporter Hannah Ojo clinched the Etisalat Prize for Most Innovative Reporting.

    Others who made good showing in The Nation stable are Sina Fadare, Chikodi Okereocha, Joseph Jibueze, Azeez Ozi-Sanni and  Olatunde Odebiyi, who were runners –up in various categories.

    New Telegraph’s Isioma Madike won two prizes—Energy Correspondent of the Year and Insurance Reporter of the Year.  His colleagues, Oluwatosin Omoniyi (Agric Reporter of the Year) and Juliana Francis (Defence Reporter of the Year).

    The Punch reporters Arukaino Umukoro won Real Estate/Construction Reporter of the Year and Dayo Oketola won the Power Reporter of the Year.

    Abuja-based Daily Trust won the Babatunde Jose Prize for Newspaper of the Year and its Editor Nasiru Lawal was declared Editor of the Year.

    Lagos State Governor Akinwunmi Ambode congratulated the winners, saying it was reward for hard work. He advised journalists to uphold the culture of investigation, adding that they should beam their searchlight on the socio-economic development of the nation. He was represented by Special Adviser on Community Communication Kehinde Bamigbetan.

    Chairman of the NMMA Board of Trutees, Mr Vincent Maduka said: “We believe that the objectives that we seek to promote at NMMA should strengthen the Nigerian media in carrying out their responsibilities with diligence, ethics and professionalism.”

  • Kudos to The Nation, FG on Oyo/Ogbomoso road

    SIR: The ongoing repair of the damaged portions of the Oyo / Ogbomoso road is commendable. It is an answer to the calls by Nigerians for its rehabilitation. I am particularly grateful to the federal government of Nigeria. It is possibly a direct result of my letter published by “The Nation” newspaper of Monday, December 10.

    I am grateful to The Nation for being the harbinger of the good thing. It simply means that good things can come out of our own Nazareth called Nigeria. More gladdening is the fact that some engineers were seen taking photographs of the absolute, narrow and worn out bridge over Oba River at Odooba town in Ogo Oluwa West LCDA of Oyo State. It is our belief that work will commence on its reconstruction soonest. To be candid, souls of many promising Nigerians have perished there. Also, the road sides between Odooba town and Bowen University Teaching Hospital (BUTH), Ogbomoso have claimed more lives since the publication. We urge the federal government ably represented by the Minister of Power, Works and Housing, Babatunde Raji Fasola, SAN to expedite action on the repair of this quintessential road. The road is so important to Nigeria that an hour of traffic gridlock on it affects the national economy negatively.

    In the same vein, we commend the government for the efforts at completing the dualization of Ibadan / Oyo/ Ogbomoso /Ilorin federal highway. The joy of the people knew no bound when work began on the Oyo /Ogbomoso axis of the road a few months ago. We beseech the government not to stop work until it is fully completed. To be sure, its completion on time will reduce the pressure on the old road as the number of articulated vehicles, tankers and other heavy duty vehicles plying it would be reduced.

    • Adelani Olawuyi

    Odooba-Ogbomoso

  • The Nation wins five DAME awards

    The Nation wins five DAME awards

    With five awards at the Diamond Awards for Media Excellence (DAME), The Nation last night confirmed its high rating in the industry.

    Head of Investigation Desk and multiple-award winner Adekunle Yusuf, an Assistant Editor, beat Mary Fadile of Federal Radio Corporation of Nigeria (FRCN) to win the Nigerian Press Council Prize for Editorial Integrity.

    Another Assistant Editor, Chikodi Okereocha, picked two awards. He won the News Agency of Nigeria Prize for Agriculture Reporting with his entry titled: “How smugglers hamper rice policy, frustrate investors”. Reporter Hannah Ojo was a finalist in this category.

    Okereocha’s second entry titled: “Devaluation: Harsh climate for manufacturers, workers” won the Aliko Dangote Prize for Business Reporting. Okereocha beat The Nation’s Okwy Iroegbu-Chikezie and The Punch’s Nike Popoola. Iroegbu-Chikezie’s entry was Private sector grumbles as CBN defends its policies.

    Senior Correspondent Joseph Jibueze also clinched two awards. He won the Mobil Producing Prize for Energy Reporting and Justice Omotayo Onalaja Prize for Judicial Reporting.

    Jibueze won the Judicial Reporting Prize for the third consecutive time, becoming the first reporter with such feat in DAME’s history.

    There were 20 awards offer last night

    The Punch’s Education reporter Folashade Adebayo won the NSRP Prize for Conflict-sensitive Reporting with her entry titled: Insurgency: Killings,maiming rob Northeast of Schools Teachers. Special Assistant to President Muhammadu Buhari on New Media and Punch Columnist Tolu Ogunlesi won DAME Prize for Informed Commentary.

    Also, The Punch Cartoonist Bennett Omeke won Vanguard Media Prize for Editorial Cartooning. The Nation’s ace Cartoonist, Azeez Ozi-Sanni, was a finalist in this category with his entry: Change, change.

    Eric Dumo of The Punch won Simeon Olatoye Idowu Prize for Sport Reporting with his entry: Hooliganism: The dark side of Nigeria.

    Motunrayo Joel also of The Punch won Sam Amuka Prize for Investigative Reporting with her entry: Ovum trading: Inside Nigeria’s multimillion Naira human egg business.

    The Punch with a total seven awards, was rated the Newspaper of the year and its Editor Martin Ayankola won Editor of the year award.

    Chairman of Diamond Publication Mr. Lanre Idowu, said the award was established 25 years ago to celebrate professionalism in the media practice. DAME, he said, had helped journalists to strive for excellent reporting and media investigation.

    He said 495 awards had been given in the last 25 years, noting that 20 awards were given out each year to celebrate journalists with excellent stories.

    Idowu said there were 402 valid entries this year, out of which 100 entries were disqualified for non-clarity and poor editorial assessment.

    He added that DAME prizes were for affirmation of what is good about the Nigerian media. He hailed the members of judges’ panel for their commitment to responsible media practice.

    Chairman of DAME Board of Trutees (BOT), Amb. Moses Ihonde, noted that politics reporters had not lived up to expectations in reporting the “unjustifiable pensions” political office holders are creating for themselves.

    He said: “It is wrong for political office holders to create pension that can’t be justified for themselves. I would urge our political reporters charged to conduct investigation into activities of politicians creating unjustifiable pensions for themselves.”

  • NUJ Games: The Nation’s ‘Grandmaster’ wins gold

    NUJ Games: The Nation’s ‘Grandmaster’ wins gold

    The Nation published by Vintage Press Limited on Thursday recorded its first Gold Medal in the on-going Nigerian Union of Journalists Games which started on Monday at the National Stadium, Lagos.
    The medal was won in Chess as indoor games gets underway in the competition.
    A reporter on Sport Desk, Dayo Paul Oluwakoya, won the Gold Medal for the newspaper after defeating tough and strong contenders in a round-robing pairing with five media houses in the game.
    “This is the second medal I have won for Vintage Press. The first was in 2014 when I won silver medal. I did participate in 2015, but its feels good to be back and win the ultimate medal even as the game took the whole day,” Oluwakoya said in a post-match feedback with the Sport Editor, Ade Ojeikere.
    “I like to dedicate this sweet victory and gold medal to the Board of Directors of Vintage Press for giving me the privilege to make them proud once again and as well to exhibit the grandmaster skills in me,” he added.
    The Nation also won the bronze medal in scrabble by Joe Agbor of entertainment desk.
  • The nation in question: some conceptual clarifications

    The nation in question: some conceptual clarifications

    In its modern incarnation, the National question arose from a feeling of marginalization and oppression by distinct nationalities who felt cheated or shortchanged by the forcible imperialist restructuring of their territorial space.  Some of them were rendered stateless or technically nation-less. But in some embryonic forms, the national question has been with us since the beginning of civilization and modern warfare.

    It is captured for posterity in the Israelite dirge of loss and traumatic captivity. How can we sing King Alpha’s song in a strange land?  Today, there are many children of Alpha crying for freedom even in their own land. With floods of refugees sacking the most secure bastions of the nation-state paradigm, with America virtually fractured along racial lines, it is the return of the repressed. The National Question has returned to haunt the global order. It has become the International Question.

    If gold can rust, what will iron do? The public climate in contemporary Nigeria is of such burning hostility and ferocity that it has proved impossible to achieve consensus on any matter, be it the wobbling economy, fiscal federalism, restructuring, appropriate federalism, the nature of the nation itself or the transformation of the paradigm of change. It is an enervating Bedlam which reminds one of the film, One Flew out of the Cuckoo’s Nest. The Tower of Babel itself would have been a model of moderate and modest exchanges.

    A lot of this reflex hostility is based on myths presenting themselves as grand actualities and on ethnic and regional fears masquerading as facts. Yet it should also be obvious to the various gladiators that without some minimal consensus on the destiny of the nation, moving it forward is an impossibility. We can continue to rave and rant till the end of eternity and we would still be where our colonial masters left us.

    The problem with the politics of change leading to a change of politics is that it does not advert our mind to certain changes taking place in the polity without any prodding or prompting from the government. Certain emergent forces, both national and international, are beginning to take away the resolution of both the national and the continental question from the political elites of Nigeria in particular and Africa in general.

    Hunger and burning resentment do not conduce to rational and respectful citizens. If President Mohammadu Buhari expected the Nigerian populace to show gratitude and admiration of for the new “Change begins with me” campaign, he must have been appalled and dismayed by the fury and ferocity of the return to sender response.

    With many citizens charging the government with a betrayal of fundamental obligation and poverty of emotional intelligence, this new effort at national mobilization is dead on arrival. The renewal and rejuvenation of national consciousness cannot begin at the deck of the pyramid of fraud. It is a top/bottom affair. That is why you have the political elite in the first instance. The dominated cannot be made to bear the burden and dereliction of the dominant.

    Perhaps the problem has to do with the conceptual hiatus at the heart of contemporary governance in Nigeria. With the “change begins with me” mantra, the weaknesses and intellectual limitations of the Buhari government are in bold and open display. You cannot whip the people into line when you have not convincingly whipped the political elite into line. When the first Buhari administration inaugurated the war against indiscipline campaign, many citizens openly and willingly bought into it because the body language and the opening salvoes suggested that the unsmiling duo meant business.

    But not so this time around. First unlike WAI, this one is coming rather late in the day and as an afterthought; a mere response to grave political pressures from civil and political society. It does not portray the government as a proactive and active organ but as a tentative and temporizing entity probing and feeling its way forward without any conceptual organogram or ideological master-plan.

    Although so far nobody has had the courage and audacity to query General Buhari’s personal probity, controversies continue to dog the integrity of the current campaign against corruption and the lop-sided nature of sensitive national appointments. The problem really is that the government appears to feed on a daily calorie of paranoia and paralysis. Paralysis as a result of its intellectual deficiencies and paranoia about the kind of help and friends it must seek to help it move the nation forward.

    But to dwell on all this is a tad unfair without also mentioning some positive developments such as the overall improvement of power supply, the humongous and staggering nature of loot recovered and the valiant efforts to secure the nation against sundry miscreants. The presence of conflicts is not synonymous with the absence of development. All human societies evolve in conflict and dynamic contradictions. Since the National Question resonates through these developments, they bear close monitoring and conceptual clarifications.

    With “Operation Crocodile Smile” extending its theatre of operations and with General Buhari warning Biafran separatists for the umpteenth time that the unity of the country is not negotiable, what is crystallizing is a law and order administration which will go to war to defend the territorial integrity of the nation and to provide security for the citizens. In other words, a super-security state is attempting to impose territorial order and security on Nigeria at a time when the economic, political and spiritual insecurity of Nigerians has never been more severe and crippling.

    A super-security state which does not address the political architecture of the nation or the devolution of economic power to more vibrant sectors of the polity is bound to come into potentially prohibitive contradictions with forces spawned by these foundational anomalies. This is why it is important at this point to offer some conceptual clarifications about the vexed National Question. There are three important issues to isolate.

    Although the International Question is present in the National Question, the two are often in conflict and they sometimes exist in a state of paradoxical and contradictory reciprocity. The International Question came into being with the hegemonic dominance of the nation-state paradigm imposed on the rest of the world by European civilization. Africa, Asia, the Middle East, and the Americas were forcibly restructured in compliance with the dominant paradigm of envisioning the global order.

    After the Second World War, the League of Nations transformed into the United Nations. This was in direct and dynamic response to German, and to a less extent, Japanese nationalist militarism. In the case of the Germans, they felt that The Treaty of Versailles which imposed punitive retributions on a proud and warlike people was unfair and unjust. In the case of the Japanese, it arose from indignation at the global dominance of western powers and the abiding resentment arising from Commodore Perry’s humiliating trip to Japanese shores at the close of the nineteenth century.

    The United Nations is an example of how the global order can restructure itself in response to international pressures. But this has not stopped international conflicts as new forces of history come into collision with old forces. The colonial cartography of Africa and the Middle East which resulted in a posse of unstable and often unviable nations, the rise of a unipolar world with America as supreme power and the pressures from a resurgent and resentful Russia powered by Slavic nationalism, have concentrated the mind of the international community.

    Thus the Colonial Question which was solved but not resolved by the forcible restructuring of Africa and the Middle East in the national image of their European conquerors has turned out to be the greatest threat to global peace as seen in the violent flashpoints of Syria, Yemen, Kuwait, Iraq, Congo, Nigeria etc, They all speak to unfinished business and the need for constant repair works.

    To be fair to the colonialists, they maintained fidelity to the home culture of permanent maintenance in their attitude to their overseas possessions. Whether this maintenance was for the right purpose or in the right direction is another matter. The reason for the amalgamation of the northern and southern protectorates of Nigeria is suspect. Thereafter, Nigeria was ruled very much like a dual-state nation only for a flurry of restructuring exercises to take place in the final run to independence.

    It was during this period which lasted until military intervention in 1966 and the collapse of the First Republic that what approximated to many observers’ ideal of a beneficial and benevolent federalism was practiced in Nigeria. According to the romantic lore of federalism, this was Nigeria’s golden epoch when regional autonomy and fiscal federalism reigned supreme. The three regions were in dynamic competition which spurred growth and meaningful development.

    At this point in time, the demon of forcible cohabitation for the purpose of surplus extraction which spurred the original amalgamation of the various protectorates appeared to have been exorcised. However, a more vicious mutation of the demon emerged thereafter. Using the nation’s vulnerability to centrifugal and polarizing forces as an excuse, the military realigned the nation with the statist and centralizing worldview of its original colonial conquerors. The structure of federating units was forcibly restructured and de-federalized into dependent, feeding bottle vassals of a neo-feudal state.

    Those who claim not to understand what restructuring means must now be told in bold and bald terms that restructuring is a reconfiguration of a polity in such a fundamental manner that it affects its subsequent destiny for good or bad. In Nigeria’s history, the three agencies of restructuring have been the colonial overlords, the military and the political formation.

    But unlike the first two agencies which rely on forcible acquiescence, you cannot have restructuring in a civilian dispensation without substantial elite consensus. This is why since the First Republic, no civilian administration has had the courage or audacity to embark on a restructuring exercise. Agitators hoping to steamroll the rest of the country into compliance should note this fundamental conundrum, particularly in the light of General Buhari’s statist revanchism.

    Drawing conclusions from the above, it can be seen that the International Question is permanently embedded in the National Question. But more importantly, we can see that both cannot be wished away nor are they amenable to a once and for all time cure or “final solution”. As Britain continues to lick its wounds from the “Brexit” debacle and as America, the world greatest democracy, lurches and thrashes about in uncharted waters, National Questions will remain with us as long as nations remain. This is a lesson for contemporary Nigerian leaders. {c, 2016}

  • Pfizer congratulates The Nation girl

    Pfizer Specialties, the country’s arm of Pfizer Global Pharmaceuticals has congratulated the  The Nation‘s Health Desk Head, Oyeyemi Gbenga-Mustapha, on emerging winner of the Africa Correspondent for the World Cardiovascular Conference (WCC) competition. This year’s WCC was held in Mexico City.

    In a letter signed by the Country Manager Pfizer Specialties Limited Nigeria and East Africa Region (NEAR) Region, Mark Wagstaff and Director Corporate Affairs, Mrs Margaret Olele, the duo said it recognised the value she has added to healthcare reporting, particularly in reporting Non Communicable Diseases (NCDs).

    They said it had been a pleasure having her at their media parleys and that they looked forward to working with The Nation to improve health and medical information reporting.

    The four-day conference was organised by the World Heart Federation (WHF), which brought together the world’s researchers, policymakers and health leaders to position heart health at the centre of global development.

    Oyeyemi as the official WCC 2016 Africa Correspondent reported on eminent scientists and key opinion leaders from around the world and Africa in particular, who spoke about the particular challenges heart disease poses to the region.

    Cardiovascular disease (CVD) is the number one cause of death worldwide, and over 80 per cent of these deaths occur in low and middle income countries, including those in Africa.

    The competition represented a real opportunity for her as the first to report on the latest cutting edge research and innovation in heart health.

  • The Nation MD beats closing gong at Stock Exchange

    The Nation MD beats closing gong at Stock Exchange

    • Share prices rise

    It was a historic moment yesterday for The Nation at the Nigerian Stock Exchange (NSE) as this newspaper commemorated its 10th anniversary by beating the closing gong at the stock market.

    Share prices at the Exchange bucked the downtrend and rallied the market, which had closed with a decline of 0.12 per cent last Friday.

    Yesterday, the exchange recorded an average gain of 0.26 per cent, equivalent to net capital gain of N24 billion.

    The symbolism was striking and exciting with many stockbrokers asking The Nation to frequent the market. They expressed the wish that the newspaper would consolidate on its gains of the last 10 years.

    Managing Director Victor Ifijeh, recounted how at inception in 2006, a particular edition of The Nation was taken to the doorstep of the Exchange by him, accompanied by General Manager Training and Development Soji Omotunde and distributed free to stockbrokers and other stakeholders in recognition of the importance of the market  and to draw awareness to the budding newspaper.

    Apart from Mr. Ifijeh and Mr. Omotunde, others senior executives of this newspaper who were with them yesterday are: Executive Director (Finance and Administration), Mr  Ade Odunewu; Editor (online)  Mr. Lekan Otufodunrin; Group Business Editor, Mr. Simeon Ebulu and Advertisement Manager Robinson Osirike.

    It was cheers all through as Ifijeh beat the closing gong, a privilege usually reserved for institutions and individuals with resounding achievements to show.

    In its 10 years of operations, The Nation has carved a niche for itself as one of Nigeria’s most decorated and widest circulating newspapers.

    It is also one of the successfully managed newspapers and the closest to the corporate governance standards set by the Exchange. The Nation has been voted many times as the best news medium in financial reporting by media award institutions. It is the current holder of the banking and finance, money market and capital market awards of the prestigious Nigerian Media Merit Award (NMMA).

    Chief executive officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, commended The Nation for standing out in a highly competitive media market noting that newspapers play a very critical role in the stock market that thrives on information dissemination.

    According to him, the Exchange cherishes its relationship with The Nation as partners for the development of the capital market, a partnership that should be deepened by exploring other areas of cooperation.

    He said the newspaper should widen its support for the market by actively collaborating with the Exchange on its developmental initiatives as an official media partner.

    Ifijeh commended the management of the Exchange for the many strides at the stock market, its commitment to market integrity and good corporate governance by listed companies.

    He expressed the appreciation of the newspaper to the Exchange for its support over the years.

    “This is the beginning of better things to come for The Nation and the Exchange,” Ifijeh assured.

    He outlined that over the next 10 years, The Nation plans to grow its business and entrench best practices in line with the corporate governance standards at the Exchange with a view to listing the shares of the newspaper on the Exchange.

    “Many years ago, The Daily Times was one of the active companies on the exchange. Who says that the feat cannot be replicated?

    “We consider it a great privilege to be given the opportunity to close the stock market. In the next 10 years, we will not only come to ring the closing bell but also to ring the listing bell,” Ifijeh said to the applause of stockbrokers.

    Onyema assured that the Exchange would give the newspaper all necessary support to realise its ambition of listing on the Exchange.

    “We will work with you every step of the way to see the day you will come for listing of your shares,” Onyema assured.

    The Doyen of Shareholders who is the longest-trading stockbroker on the trading floor, Mr Sam Ndata, acknowledgedThe Nation as a toast of the stock market noting that most stockbrokers read the newspaper.

    “We are in love with it,” Ndata said, relating his personal experience of how in Port Harcourt, the commercial centre of the South South, the newspaper controls the readership because of what he described a s the newspaper’s “frankness”.

    He also urged the newspaper to work towards listing its shares on the stock market.

     

  • Anglican Communion to  The Nation: the best is yet to come

    Anglican Communion to The Nation: the best is yet to come

    The Church of Nigeria (Anglican Communion) Archbishop of Lagos Province Revd Adebayo Akinde has hailed the management of Vintage Press Limited, publisher of The Nation for taking the paper to an enviable height.

    Akinde, a retiring Lagos Mainland Diocese Bishop of the church, said The Nation and the diocese share something – both are celebrating 10 years.

    While The Nation berthed in July 31, 2006, the Lagos Mainland Diocese branch of the church was established in August 23 same year as the 95th Diocese.

    The purpose of establishing dioceses, the cleric said, was to break the church down into small units for effective dissemination of the message of God.

    On The Nation anniversary, Revd Akinde thanked God for the quality of information the paper has been dishing out to the populace since inception.

    “Because of that, we have become ardent followers of your paper. You have made efforts to keep the paper as a leading media outfit.

    “I want to say the best is yet to happen to The Nation. You are doing well and we pray for a much brighter and better future,” he said.

    He sought a partnership between the church and the newspaper, which he said would be mutually beneficial to carry on the work of the Kingdom.

    He appealed for a better coverage of the church’s 10th anniversary programmes.

    Revd Akinde’s successor-designate at the Lagos Mainland Diocese, Ven Akinpelu Jonhson, said he is glad for the impact The Nation has made in the country.

    The Nation has done well and we are happy for the work you are doing,” Ven Johnson said.

    Vintage Press Limited’s General Manager, Training and Development Mr Soji Omotunde assured the leadership of the church of a good coverage of its activities.

    Omotunde presented a copy of the paper to Revd Akinde.

    The cleric reciprocated with a gift to the company.

  • Gas constraint reduces to 3,967MW

    Gas constraint reduces to 3,967MW

    ***Power sector loses 142MW due to water constraint

    ***supplies 3,175MW    

    Constraint caused by shortage of gas to power reduced from 4,307Mega Watts (MW) of August 5th to 3,967MW on Sunday, 7th of August.

    On the day under review, the Nigeria Electricity System Operator (SO) of the Transition Company of Nigeria (TCN) sent out 3175MW to the 11 distribution companies (DisCos).

    The Nigerian Electricity Supply Industry (NESI) made this disclosure on its website on Monday, reported that line constraint was 240MW. It noted that water constraint that was 142MW rose marginally by 1MW.

    All the constraints, on the day under review, said NESI, resulted in loss of an estimated equivalent of N2,088, 000, 000 on August 07 2016 due to constraints.

    It said: “On August 07,  2016, average power sent out was 3175MWh/hour (up by 27MWh/h). The reported gas constraint was 3967MW. The reported line constraint was 240MW according to TCN. The water management constraint was 143MW.

    It would be recalled that the power sector did not report any constraint due to water supply for over a month, first said that on August 5, it recorded 142Mega Watts (MW) water constraint.

    Although the spokesperson of the company, Mrs. Seun Olagunju did not receive our Abuja correspondent phone call to inquire what led to the water constraint, The Nation learnt that it was due to some undisclosed mechanical issues in the Kainji Hydro Power Station.

    The source that spoke to The Nation in confidence said that “they (TCN) are doing as much as they can possibly do with the mechanical constraint.”

    Another source said that the company was trying to be more efficient by not using all its water and make some reservation for other days.

    He said “they are restricting the water because the want it to last. There are two options with an hydro -electric dam. You can use all the water when you have it. You can manage it so that the day you don’t have water you have water in storage. They are not even using all their water.”

    According to the Nigerian Electricity Supply Industry (NESI) website that published the power performance daily summary, on the day under review, the Nigerian Electricity System Operator (SO) sent out 3,135MW to the 11 distribution companies .

    The report however noted that the sector recorded 265MW line constraint .

    All the losses, said the NESI, was an estimate of N2.7billion .

    It said: “On August 05 2016, average power sent out was 3135MWh/hour (up by 59MWh/h). The reported gas constraint was 4307MW. The reported line constraint was 265MW according to TCN.  The water management constraint was 142MW.

    The power sector lost the estimated equivalent of N2,263, 000, 000 on August 05 2016 due to constraints.”