Rivers State, a critical economic hub in Nigeria, is often in the spotlight for its political and economic relevance. Known for its oil wealth, diverse culture, and bustling capital, Port Harcourt, the state holds immense potential to shape not just the Niger Delta region but also the broader national landscape. However, the political tension between the current Governor Siminalayi Fubara and his predecessor, Nyesom Wike, is casting a shadow over the state’s future. While both men play significant roles in Rivers’ political sphere, it is clear that Rivers State is far bigger than their individual ambitions. It is time for sanity to prevail in governance, for the people deserve leadership focused on their welfare rather than personal power struggles.

Nyesom Wike is a figure who commands attention, not only in Rivers State but across Nigeria. During his eight-year tenure as governor, he built a reputation for assertiveness, infrastructural development, and a no-nonsense approach to governance. Under his leadership, Port Harcourt witnessed several large-scale development projects, and Wike’s combative political style earned him a national profile as a staunch defender of his state’s interests.

His administration oversaw the construction of flyovers, bridges, hospitals, and schools. Wike’s personality and leadership style often led to political battles with the federal government, but his resilience endeared him to many in Rivers. Wike successfully turned Rivers into a strong political force within the national opposition party, the People’s Democratic Party (PDP), and expanded his influence beyond the state.

However, with every leader comes the inevitable challenge of legacy management. The question often arises: How will history remember Wike’s time in office? Will he be remembered for his contributions to infrastructural development or for political divisiveness? This question has only become more relevant with the growing friction between him and Governor Fubara, his former ally.

Governor Siminalayi Fubara, Wike’s successor, came to power with an endorsement from Wike, who was expected to continue wielding significant influence even after leaving office. As a former Accountant-General of Rivers State, Fubara’s technocratic background was seen as a stabilizing factor for the state’s finances, and his rise to the governorship was largely viewed as Wike’s attempt to maintain control of the state’s political machinery.

Yet, political successions are rarely as straightforward as they seem. Since assuming office, Fubara has sought to establish his own political identity, distancing himself from Wike’s overpowering influence. Fubara’s administration is still young, but the early signs indicate that he is keen on carving out his own path, which has inevitably led to clashes with his former mentor. Political observers note that Fubara’s decision to assert his authority is not only about personal ambition but also about the political survival that comes with stepping out of Wike’s shadow.

The ongoing power struggle between Wike and Fubara is not without consequences. Political distractions like these divert attention away from the real issues plaguing the state. From insecurity in the Niger Delta to unemployment and underdevelopment in rural areas, Rivers State faces numerous challenges that require urgent and focused governance. In a state that plays such a critical role in Nigeria’s oil economy, any prolonged political instability could have broader national repercussions.

Rivers State is one of the country’s highest oil-producing regions, contributing billions of naira to the national treasury. Beyond oil, the state’s bustling ports and burgeoning industrial sector make it a key player in Nigeria’s economic future. However, these economic advantages can be easily undone by political instability. Business confidence, investment inflows, and development projects all suffer when political leaders focus on personal vendettas instead of creating an enabling environment for growth.

While Wike and Fubara lock horns in a battle for supremacy, the people of Rivers State are left to contend with everyday problems like poor infrastructure in rural areas, inadequate healthcare, and worsening insecurity. Political stability is the bedrock of effective governance, and if Wike and Fubara do not resolve their differences soon, the people who voted them into office may begin to lose faith in their leadership.

Another dimension to consider in this ongoing political drama is the issue of security in the Niger Delta. Over the years, Rivers State has had a history of militancy and unrest, largely fueled by the grievances of marginalized communities that feel left out of the state’s oil wealth. Although militancy has reduced in recent years, thanks to the amnesty programs and other peace initiatives, it remains a sensitive issue that can be reignited by political instability.

When politicians in leadership positions engage in open confrontations, it often sends a dangerous signal to disaffected groups. The lingering mistrust between the government and these groups could be exacerbated by a perception that the state’s leadership is distracted or disunited. The last thing Rivers State needs is for political instability to reignite old conflicts or lead to fresh waves of unrest.

For governance to be effective in Rivers State, Wike and Fubara must realize that leadership is not about personal egos. The people of Rivers did not vote for a personality contest; they voted for leaders who could deliver on their promises. Both men have their strengths and have contributed to the state’s development in different ways, but these strengths must be channeled toward a collective goal.

Fubara, in his role as governor, needs peace and stability to fulfill his electoral promises. And Wike, as a political heavyweight, has a duty to support the government for the greater good of Rivers State. As a leader who claims to have the people’s interests at heart, Wike should be more invested in ensuring that his legacy is not one of division and conflict but of continued progress and peace.

This is not the time for political king-making or behind-the-scenes maneuvering. It is the time for statesmanship. The future of Rivers State must not be held hostage to political egos.

Beyond Wike and Fubara, other political, traditional, and religious leaders in Rivers State must also play their part in ensuring that peace and stability are maintained. Political observers in Nigeria are well aware of how traditional rulers and civil society can mediate disputes between political leaders. In times like these, their roles become even more crucial.

Traditional rulers, with their moral authority, can serve as mediators to broker peace between the two warring camps. Civil society organizations, particularly those advocating for good governance and social justice, must rise to the occasion by holding both leaders accountable for their actions and decisions. Religious leaders, too, have a critical voice in calling for unity and reminding political leaders of their responsibilities to the people.

Rivers State is not just a political playground; it is home to millions of Nigerians whose lives depend on effective governance. It is a critical economic asset to Nigeria, and its stability should be a top priority for anyone in leadership. The ongoing tensions between Wike and Fubara must be resolved through dialogue, humility, and a shared commitment to the state’s future. Political sanity must prevail because Rivers is bigger than the ambitions of any single individual.

If Wike and Fubara truly care about Rivers State, they must put aside their differences and work for the common good. In the end, history will not judge them by the political battles they fought, but by the impact they had on the lives of the people they were elected to serve.

In today’s competitive branding world, authenticity is the currency of trust, and few Nigerian celebrities embody this better than Kate Henshaw. With a career spanning over three decades, Henshaw has not only cemented her place as one of Nigeria’s finest actresses but also established herself as a highly valuable brand ambassador. The reasons for her endorsement appeal are as diverse as they are compelling, making her a top choice for brands across various industries.

Kate Henshaw is known for her genuine and relatable persona. Despite her fame, she comes across as down-to-earth, approachable, and passionate about causes she believes in. Brands looking to connect with a broad demographic, particularly those seeking an emotional connection with consumers, are drawn to this authenticity. Her real-life values resonate with everyday Nigerians, making her endorsements feel less like sales pitches and more like personal recommendations.

In an era where consumers are increasingly skeptical of overt celebrity endorsements, Henshaw’s authenticity provides a refreshing contrast. She does not just lend her face to a brand, she aligns with the brand’s ethos and products, ensuring her promotions are a seamless fit. This deep-rooted authenticity has become an invaluable asset, especially for companies looking to build long-term relationships with their target markets.

Henshaw’s personal brand as a health and fitness advocate sets her apart in a unique niche. Over the years, she has positioned herself as one of Nigeria’s most prominent fitness enthusiasts, frequently sharing workout routines, diet tips, and motivational content with her followers. In a market where wellness is increasingly becoming a lifestyle choice, her advocacy for a healthy lifestyle gives her an edge.

Fitness brands, wellness products, and health-related endorsements naturally gravitate towards her. With health consciousness rising globally and locally, her focus on fitness aligns perfectly with brands looking to encourage better living. Moreover, her age-defying looks serve as an inspirational testament to the benefits of a healthy lifestyle, making her an aspirational figure for many Nigerians.

Kate Henshaw’s influence cuts across multiple generations. From Baby Boomers to Gen Z, her fan base spans a wide age group, making her a versatile choice for brands looking to target diverse audiences. Whether it is beauty, lifestyle, or FMCG products, Henshaw brings wide consumer appeal, increasing brand reach and influence.

Her ability to maintain relevance across generations is also a rare achievement in a fast-evolving entertainment industry. She resonates not only with older Nigerians who grew up watching her films but also with younger audiences who follow her vibrant social media presence and admire her fitness journey. This dual generational appeal makes her an attractive prospect for any brand aiming for cross-generational engagement.

In the volatile world of entertainment, public image is crucial for endorsement deals. Henshaw has managed to keep her reputation intact over the years, a feat not easily achieved in the public eye. She is widely respected for her professionalism, grace, and integrity, which has led to brands trusting her with their image. Unlike some celebrity endorsements that come with the risk of scandal, Henshaw’s image is untainted, offering stability and consistency to brands.

Her consistency extends beyond her personal image to her professional endeavors. For over 30 years, Henshaw has been a constant figure in Nigeria’s entertainment space, having successfully transitioned from film to fitness, and even philanthropy. This consistent career evolution has built trust not just with her fans, but also with brands, making her a figure people look up to.

In today’s digital age, having a strong social media presence is vital for brand endorsements. Henshaw commands an impressive following across platforms like Instagram, Twitter, and TikTok, where she regularly engages with her fans. Her social media presence is both authentic and influential, as she balances personal life updates, fitness posts, social issues, and brand collaborations with ease.

This active engagement provides brands with an organic reach, as Henshaw’s endorsement posts generate substantial engagement from her audience. Her credibility on social media means that when she endorses a product, her followers view it as a trusted recommendation rather than a forced promotion. For brands looking to leverage influencer marketing, Henshaw offers the best of both worlds, a powerful online presence and genuine influence over her audience.

Kate Henshaw’s active participation in social causes, particularly those focused on health, education, and women’s empowerment, enhances her brand appeal. Her involvement in campaigns for cancer awareness, women’s rights, and other charitable causes gives her an added layer of endorsement value, particularly for brands aligning with corporate social responsibility (CSR) initiatives. Consumers are increasingly looking for brands that are purpose-driven, and aligning with an advocate like Henshaw can amplify a brand’s commitment to social good.

Her charitable endeavors, including supporting underprivileged children and campaigning for cancer screening, have earned her the admiration of fans and corporations alike. Brands seeking to enhance their corporate social responsibility efforts or improve their public image can benefit greatly from Henshaw’s personal commitment to societal causes.

Henshaw’s portfolio of brand partnerships is a testament to her effectiveness as a brand ambassador. Over the years, she has successfully endorsed top-tier brands across sectors like telecommunications, skincare, and health products. Her partnerships with companies like Samsung, Reckitt Nigeria, the manufacturers of Mortein insecticide, andGlo Nigeria have been celebrated, reinforcing her value as a credible spokesperson. Not only the foregoing, the name Onga Seasoning brand resonates today across kitchens and eateries due to her brand influence. In fact, brands that choose Kate Henshaw as an ambassador know they are associating with a personality who not only enhances their credibility but also drives consumer engagement.

Each of her collaborations has been met with positive feedback, further proving her ability to deliver value for brands. Her campaigns are memorable, whether it is endorsing skincare products that focus on ageless beauty or tech brands aimed at millennial. Her long list of successful endorsements makes her a tried-and-tested choice for brands looking to create impactful and credible marketing campaigns.

One of the reasons why Kate Henshaw remains a top choice for endorsements is her unmatched professionalism. Brands frequently highlight her dedication, punctuality, and thoroughness when delivering on campaigns. She brings a level of commitment to her roles that ensures brands get value for their investments. This level of trustworthiness is vital in brand relationships, where timelines and public perception are crucial.

Her professionalism shines through in the quality of the campaigns she delivers, further boosting her endorsement value. Whether it is in front of a camera or engaging with her audience on social media, Henshaw approaches every opportunity with a high level of dedication and enthusiasm. This reliability is a key factor that sets her apart from many other celebrities and endears her to brand managers and marketing teams.

Beyond her role as a fitness enthusiast, actress, and philanthropist, Kate Henshaw has become a cultural icon in Nigeria. Her story is one of resilience, balancing stardom, personal challenges, and reinvention while maintaining her position as a top-tier celebrity. Her journey appeals to brands because it mirrors the struggle and triumph of many Nigerians, especially during difficult economic times.

As a symbol of resilience, Henshaw represents the kind of personality that Nigerian brands want to associate with, a figure who has endured, evolved, and continues to thrive. This resilience translates into her endorsement deals, where her ability to reinvent herself mirrors the evolution that brands often seek.

Kate Henshaw’s value in the brand endorsement space is clear. Her authenticity, positive public image, broad appeal, active social media presence, and long-standing commitment to fitness and advocacy make her a trusted and influential figure for brands. With her track record of successful campaigns and unparalleled professionalism, she offers brands the perfect blend of credibility, influence, and relatability.

For companies seeking to enhance their visibility and credibility, collaborating with Kate Henshaw is more than just an endorsement, it is a strategic partnership with a powerhouse whose value continues to grow in the ever-evolving branding landscape. From fitness and wellness to social causes and digital influence, Henshaw’s multifaceted appeal ensures that she remains an invaluable asset to any brand looking to make a lasting impact.

Distinguished guests, ladies, and gentlemen, let me start by thanking the guild for inviting me to deliver this keynote. I am deeply honoured to stand before you today to speak on three of the most critical challenges Nigeria faces in the 21st century – challenges that not only impede our growth but also compromise our global competitiveness. These are insecurity, electricity deficiency, and the transition to a digital economy. 

Each of these subjects ought to be independently treated extensively. However, I will try to give some depth to them in this presentation.  

It is impotent to state that these interconnected issues, if tackled head-on, hold the key to unlocking the immense potential of Nigeria’s people, resources, and entrepreneurial spirit.

Over the past 25 years, Nigeria has made tremendous strides in various sectors, yet these critical issues have persisted, limiting our ability to fully realize our nation’s potential. Today, I will present data and analysis from the last quarter-century, while also offering practical and evidence-based solutions to these challenges. I will also highlight how Nigeria can effectively transition to a digital economy that ensures inclusive prosperity for all its citizens.

PART 1: TACKLING INSECURITY IN NIGERIA

While I certainly cannot claim to be an authority on security or to have had any formal security training, I can only assume that in selecting me to deliver this keynote, the organizers may have considered the fact that I was once the chief security officer of a sub national. I will naturally bring some of my experience to bear in addressing this part of the presentation.

Overview of Insecurity in Nigeria (1999-2024)

Insecurity in Nigeria has evolved over the past 25 years. The return to democracy in 1999 brought hope for peace and development, but since then, we have experienced a range of security challenges. These challenges include:

1. Insurgency (Boko Haram and ISWAP): Since 2009, Boko Haram has been the primary security challenge in northeastern Nigeria, with the group seeking to establish an Islamic state. In 2015, a splinter group, the Islamic State West Africa Province (ISWAP), emerged, further complicating the insurgency.

2. Banditry and Kidnapping: Armed banditry and mass abductions have been rampant, particularly in the northwest and north-central regions. Bandits engage in cattle rustling, illegal mining, robbery, and large-scale kidnappings for ransom.

3. Ethnic and Communal Clashes: In various regions, especially the Middle Belt, violent conflicts between farmers and herders have escalated over land and water resources. Ethnic tensions have also contributed to communal violence.

4. Militancy (Niger Delta): Militancy in the Niger Delta, driven by grievances over oil revenue distribution and environmental degradation, has caused security challenges, especially during the 2000s.

5. Organised Crime and Piracy: Organized crime, including piracy in the Gulf of Guinea, has posed a major threat to maritime security and Nigeria’s oil infrastructure.

6. Separatist Agitation in the Southeast: Separatist agitation driven by perceived marginalisation has caused security challenges and economic hardship in the region.

According to the Global Terrorism Index, Nigeria has consistently ranked among the top five countries most affected by terrorism since 2013. Between 2009 and 2020, the Boko Haram insurgency alone resulted in the deaths of over 40,000 people and the displacement of more than 2 million Nigerians.

Factors Contributing to Insecurity

– Poverty and Unemployment: The unemployment rate surged from 6.4% in 2010 to over 33.3% by 2022 and its close 40% today.. Youth unemployment, in particular, has fueled militancy and criminal activities.

– Weak Governance and Corruption: Inconsistent government policies and widespread corruption in the security forces have compromised efforts to maintain law and order.

– Climate Change: Desertification and water scarcity have intensified farmer-herder conflicts, particularly in the Middle Belt.

– Proliferation of Small Arms: The spread of illegal firearms has exacerbated violent crime across the country.

At this juncture I’d like to briefly look at the effort made by successive governments in tackling these challenges while highlighting some successes and of course significant failures particularly in addressing the root causes and evolving nature of various security threats.

Some of the successes include:

1. Degradation of Boko Haram’s Territorial Control

– In the early 2010s, Boko Haram controlled large swathes of territory in northeastern Nigeria, particularly in Borno, Adamawa, and Yobe States.We all remember the infamous Chibok girls kidnapping. By 2015, Boko Haram had declared a caliphate in the region. However, sustained military campaigns, particularly under Operation Lafiya Dole, launched in 2015, succeeded in reclaiming most of the territory held by the group.

– By 2016, Nigeria had regained control of major cities such as parts of Maiduguriand Bama

– Between 2015 and 2022, Boko Haram’s influence was reduced to guerrilla attacks, and their ability to hold territory was significantly diminished.

– The Global Terrorism Index (GTI) reports that deaths from terrorism in Nigeria decreased by 47% in 2020, driven by the weakening of Boko Haram and ISWAP.

– According to available data, by 2023, the Nigerian military had killed or arrested over 3,000 Boko Haram insurgents and secured the surrender of 40,000 combatants.

2. Reduction in Niger Delta Militancy

– In the 2000s, militancy in the Niger Delta, driven by groups such as the Movement for the Emancipation of the Niger Delta (MEND), led to disruptions in oil production and attacks on infrastructure. However, the government’s 2009 Amnesty Program significantly reduced violence in the region.

– By 2011, oil production had rebounded from a low of less than 1.6 million barrels per day (bpd) in 2009 to over 2.2 million bpd.

– Attacks on oil facilities significantly decreased after the amnesty, although sporadic violence persisted.

3. Anti-Piracy Measures

– Nigeria has improved maritime security through the Deep Blue

Project, launched in 2021. This initiative, led by the Nigerian Maritime Administration and Safety Agency (NIMASA), combined with international collaboration, has reduced piracy in the Gulf of Guinea.

– According to the International Maritime Bureau (IMB), piracy incidents in the Gulf of Guinea decreased by 58% between 2020 and 2021.

4. Tackling Separatist Agitation

-One of the government’s notable successes was the arrest of

Nnamdi Kanu, IPOB’s leader. Kanu’s arrest reduced IPOB’s public activities and disrupted the group’s momentum, although it did not eliminate its influence entirely.

-The Nigerian government has launched several military operations in the southeast to curb IPOB and ESN activities These operations have led to the arrest of hundreds of IPOB members and a temporary reduction in attacks on government installations.

-Nigerian security forces have successfully foiled multiple IPOB-organised protests and parades, disrupting their operational activities.

5. Advances in Technology and Intelligence Gathering – The Nigerian government has increasingly leveraged technology and intelligence, such as drones and satellite imagery, in counter-insurgency operations and in combating banditry and kidnapping. Joint operations with neighbouring countries under the

Multinational Joint Task Force (MNJTF) has also improved regional coordination against terrorism.

Some of the obvious Failure in Tackling Insecurity would include:

1. Persistent Boko Haram and ISWAP Insurgency

– While Boko Haram’s territorial control has been significantly

degraded, insurgent attacks continue in the northeast. The rise of ISWAP has further prolonged the conflict, with the group targeting military installations and civilian populations.

– The conflict has reportedly displaced over 2.7 million people in the region, according to the United Nations.

– The UN Office for the Coordination of Humanitarian Affairs (OCHA) reported that over 350,000 people have died as a result of the insurgency, either from violence or indirect causes like starvation and disease.

2. Rising Banditry and Kidnapping

– Kidnapping for ransom has become one of Nigeria’s most pressing security issues, with bandits terrorizing the northwestern and north-central regions.

– In 2021, Nigeria recorded over 5,000 kidnapping incidents, according to SB Morgen, a research group.

– Ransoms paid by families or communities to bandits have reached billions of naira annually, while bandit attacks have displaced hundreds of thousands.

– In states like Zamfara, Katsina, and Niger, entire communities have been displaced, and some areas have seen collapsed governance.

3. Herders-Farmers Conflicts

– The conflict between farmers and herders, particularly in the Middle Belt, has worsened, often with ethnic and religious undertones. The conflict stems from competition over land and resources, exacerbated by climate change and population growth.

– In 2021, over 3,600 people were killed in violent clashes between farmers and herders, according to data from the Armed Conflict Location & Event Data Project (ACLED).

– The conflict has led to the destruction of communities, with no lasting solution yet implemented.

4. Continued Separatist Agitation

-Despite multiple military operations, the separatist agitation in the southeast has escalated, with IPOB’s Eastern Security Network (ESN) engaging in guerrilla-style attacks on government forces, police stations, and prisons.In 2021, southeastern Nigeria witnessed over 200 attacks on police stations, government buildings, and election offices. These attacks led to the death of at least 70 police officers and numerous civilians, according to SB Morgen.

– In 2021, separatist violence and clashes between IPOB’s ESN and Nigerian security forces led to the deaths of over 300 civilians in the southeast, according to the International Crisis Group.

-Public Trust – Amnesty International has reported extrajudicial killings, arbitrary arrests, and the excessive use of force during military operations in the southeast.

-The government’s focus on military crackdowns and arrests has largely ignored the underlying causes of separatist agitation in the southeast. Key grievances such as marginalization, lack of political representation, and poor infrastructure.

-IPOB has retained its ability to enforce sit-at-home orders, with many businesses and residents in the southeast complying due to fear of reprisal. These orders have paralyzed economic activities on several occasions.

5. Slow Progress on Security Reforms

– The Nigerian Police Force and military are often criticised for inefficiency, poor coordination, corruption, and human rights abuses. These factors have hindered efforts to combat crime and insurgency effectively.

– Nigeria’s police-to-citizen ratio remains inadequate, with only 1 police officer per 548 citizen (well below the UN recommendations of 1:400).

– Insecurity has contributed to a rising wave of public distrust in security forces and calls for reform, as seen in the #EndSARS protests in 2020.

I strongly believe a multifaceted approach is required to effectively tackle insecurity in the country. Some recommendations on the way forward would include:

1. Strengthening Local Security Architecture

Community Policing: I’m an advocate for expanding community policing programs and integrating local vigilante groups into formal security operations. This will improve intelligence gathering, foster trust between security forces and communities, and ensure a more proactive response to local threats. -Consideration should be given to the decentralisation of security; Granting state governments greater control over local security forces could improve regional responses to insecurity.

2. Improving the Condition of the Economy:

There’s a corollary relationship between poverty and insecurity. Economic empowerment programs, particularly targeting the youth, can reduce the appeal of criminal activities. This includes skills acquisition programs, entrepreneurship training, and access to financing for small and medium enterprises.

3. Implementing Comprehensive Rural Development Programmes

To address the root causes of banditry, kidnapping, and farmer-herder conflicts, the government should implement development initiatives that target rural poverty, job creation, and resource management. Special focus should be placed on providing education and employment for young people vulnerable to criminal groups.

3. Deploy Advanced Technology for Intelligence Gathering – Increased use of drones, surveillance technology, and intelligence-driven operations will enhance the government’s ability to monitor and respond to insurgent and criminal activities. We should also improve coordination with regional partners in intelligence sharing.

4. Implement Sustainable Peace and Mediation Programmes

– Resolving the farmer-herder crisis requires a combination of

short-term security measures and long-term resource management. The government should establish dialogue platforms between herders and farmers and promote sustainable grazing reserves and agricultural policies that reduce competition over land and water.

5. Enhance Funding for Security Agencies

– The military and police forces need adequate funding and training. I must also emphasise judicious use of available resources. Procurement processes should be transparent, and resources must be used to improve equipment, welfare, and training of personnel. And emphasis should be placed on reducing corruption and improving oversight in the security sector.

6. Strengthening Legal and Judicial Systems

– To tackle impunity, the government must ensure that the legal system swiftly prosecutes those involved in organised crime, banditry, and insurgency. Enhancing the judicial system’s capacity to deal with security-related cases will discourage criminal activity.

7. Bolstering Regional and International Cooperation

– Nigeria should continue strengthening ties with neighbouring countries (e.g., through the MNJTF) and international partners to tackle transnational threats such as terrorism, arms smuggling, and organised crime. Enhanced cooperation will improve border security and intelligence sharing.

8. Border Control and Arms Regulation

– Strengthening border security and enforcing stringent regulations on the sale and possession of firearms are critical to curbing the flow of illegal weapons into Nigeria.

9. Rehabilitation and Reintegration Programmes

– For individuals involved in armed militancy or separatist movements, rehabilitation and reintegration programs should be enhanced to help them transition into productive members of society.

Conclusion

While Nigeria has made some strides in reducing insurgency and addressing maritime insecurity, the country continues to face significant security challenges, especially related to banditry, kidnapping, and communal clashes. Addressing these challenges will require a multifaceted approach involving better governance, regional cooperation, security sector reforms, and sustainable development programs aimed at tackling the root causes.

PART 2: TACKLING NIGERIA’S ELECTRIC POWER DEFICIT

1.Overview of Nigeria’s Power Sector (1999-2024)

For obvious reasons, this is a turf that I am more familiar with and I believe this will be reflected in the course of our discourse. The electricity supply in Nigeria remains one of the most significant constraints to economic growth. Since 1999, several power sector reforms have been introduced, yet Nigeria’s electricity generation and distribution remain grossly inadequate. With an estimated population of over 220 million, Nigeria’s current installed capacity of around 13,000 MW only manages to deliver 4,000-5,000 MW on average. This is far below the demand of over 20,000 MW, leading to frequent blackouts and reliance on expensive diesel generators. To fully grasp the magnitude and impact of this challenging sector, here’s some sobering data of the per capita electricity consumption for Nigeria, Ghana, South Africa, and Ivory Coast based on recent data:

– As of the latest estimates, Nigeria’s per capita electricity consumption is around 150 to 200 kWhper year. This low consumption reflects challenges in electricity access, infrastructure, and supply.

– Ghana’s per capita electricity consumption is approximately 800 to 1,000 kWh per year. The country has made significant strides in improving electricity access and reliability over the past decade.

– South Africa’s per capita electricity consumption is estimated at around 4,000 to 5,000 kWh per year. This figure reflects the country’s industrial base and higher levels of electricity access.

– Ivory Coast’s per capita electricity consumption is roughly 500 to 600 kWh per year. Ivory Coast has been working to expand its electricity infrastructure and improve access to power.

Despite numerous reforms and investments, the power sector continues to struggle. The challenge appears intractable and unresolvable. Over the years we have seen multiple instances of unfulfilled promises for power delivery. The question would then be, is there a solution in the face of growing demand? To understand the magnitude of the challenge I will first attempt to highlight some of the key constraints to reducing the power deficit and then I will proffer potential solutions to them.

However, I would start with reflecting on my stint as first, Chairman of the technical board and subsequently Minister of Power, when I introduced several significant reforms to revitalise the sector and lay the groundwork for the subsequent privatisation and liberalisation of the the sector. As with all reform processes, there was strong resistance from entrenched interests. However, we made good progress largely because of the strong political will of President Olusegun Obasanjo who drafted me to the sector after a six day total national blackout. These key reforms and initiatives include:

1. Electric Power Sector Reform Act (EPSRA) of 2005, enacted during my tenure, set the legal framework legal framework for the unbundling and eventual privatisation of the Nigerian power sector. The Act paved the way for:

– The unbundling of NEPA into 18 successor companies, six generation companies (GenCos), 11 distribution companies (DisCos), and 1 transmission company (TCN).

– The creation of the Nigerian Electricity Regulatory Commission (NERC), the regulatory body to oversee the electricity sector, ensuring proper regulation, tariff setting, and consumer protection.

– The establishment of the Nigerian Bulk Electricity Trading Company (NBET) to facilitate the purchase of power from GenCos and its sale to DisCos.

– The eventual privatisation of the DisCos and GenCos, took place after after my tenure.

2. Unbundling of NEPA

– As chairman of the NEPA Technical Board, I was responsible for overseeing the restructuring of NEPA to prepare for its eventual privatisation. The process involved breaking up NEPA’s monopoly and transitioning it into smaller, more efficient entities that would handle specific aspects of electricity generation, transmission, and distribution. This reform aimed to increase efficiency and attract private sector investment into the power sector.

3. Power Sector Liberalisation and Private Sector Participation.

– I advocated for increased private sector involvement in the power sector, recognizing that the government could not single-handedly resolve the issues of inadequate capacity and poor infrastructure. The reforms initiated during my tenure laid the groundwork for private sector participation in the electricity market, which as I mentioned, would later culminate in the privatization of the generation and distribution segments.

4. National Integrated Power Project (NIPP)

– One of our key initiatives was the launch of the National Integrated Power Project (NIPP)in 2004. The NIPP was designed to fast-track power generation and improve infrastructure through the construction of new gas-fired power plants, transmission lines, and distribution networks across the country. The NIPP was originally funded by the Excess Crude Oil Account and aimed to deliver significant new generation capacity to the grid.

– The NIPP program initially targeted the construction of over 5,000 MW of new generation capacity through various power plants, as well as improvements in transmission and distribution systems.

5. Strengthening Transmission Infrastructure

– Recognising the weakness of Nigeria’s transmission infrastructure, we pushed for significant investment in upgrading the transmission grid. The reforms aimed to strengthen the capacity of the grid to handle higher volumes of electricity generated from new and existing power plants.

6. Creation of the Rural Electrification Agency (REA)

– I played a role in expanding electricity access to underserved rural areas through the creation of the Rural Electrification Agency (REA). The agency was tasked with increasing electricity coverage in rural and peri-urban areas, which had been neglected by NEPA. This was part of the broader goal of achieving universal electricity access in Nigeria.

7. Promoting Efficiency and Cost-Reflective Tariffs

– I also worked on initiating reforms to improve the financial sustainability of the power sector by introducing more cost-reflective tariffs. Although full implementation of cost-reflective tariffs was delayed until later these reforms laid the foundation for future tariff adjustments that would ensure that power companies could cover their costs and make necessary infrastructure investments.

8. Addressing NEPA’s Inefficiencies

– Under my leadership, efforts were made to address the inefficiencies within NEPA, which was plagued by operational challenges, corruption, and underinvestment. We initiated reforms aimed at improving NEPA’s management and financial accountability, even as the process of breaking up the authority was underway.

Impact of Reforms

The reforms we spearheaded set the stage for the subsequent privatisation of Nigeria’s power sector in 2013 and the creation of a regulatory framework that continues to guide the sector today. Although the power sector still faces significant challenges, such as generation deficits and weak infrastructure, my tenure was marked by foundational changes that moved the country from a state-run monopoly towards a more liberalised and market-driven electricity industry.

Challenges:

While these reforms laid the foundation for eventual privatisation and restructuring, the actual execution of some of these reforms faced challenges, one of which was the undue and unnecessary delays in the implementation of the NIPP and other projects as a result of a phantom $16billion power probe. The claim that $16 billion was spent on the power sector has been repeated without sufficient verification by media outlets and critics, often creating the impression that the money was “wasted” during my tenure. However, subsequent investigations have revealed that much of the criticism was based on incomplete or inaccurate information regarding how the funds were managed. It is on record that actual spending during my tenure is estimated to be around $2–$3 billion, much of which was targeted toward the launch of the NIPP and other infrastructure upgrades. The $16 billion figure has been repeatedly used as a political tool to criticize power sector reforms, but it lacks proper context and a breakdown of actual expenditures.

Unfortunately, these delays led to huge cost overruns, largely due to inflation and breaches in contract terms caused by the effusion of time. It is important to note that the delays led to at least a doubling of the various contact costs and the overall cost of the NIPP. Furthermore, many of these projects were not completed until several years later and several of them are still ongoing as I speak.

However, overall, these reforms were instrumental in steering Nigeria’s power sector toward modernization, deregulation, and private sector participation, even though many of the challenges of the sector persist to this day.

Key Constraints to Reducing Nigeria’s Power Deficit

1. Inadequate Generation Capacity

– Installed Capacity vs. Operational Capacity: Nigeria has an installed generation capacity of over 13,000 MW, but only about 4,500 to 5,000 MW is available to the grid due to technical issues, maintenance challenges, and insufficient gas supply to thermal power plants.

– Over-reliance on Gas: About 80% of Nigeria’s electricity generation comes from gas-powered plants, which makes the sector vulnerable to gas supply shortages and disruptions from pipeline vandalism.

2. Weak Transmission Infrastructure

– Nigeria’s transmission infrastructure, managed by the Transmission Company of Nigeria (TCN), is often described as the “weakest link” in the power value chain. The transmission network can only handle about 5,300 MW at peak performance, far below the country’s actual electricity demand, which is estimated at over 28,000 MW.

– Frequent Transmission Failures: Aged infrastructure and lack of investment have led to frequent grid collapses and transmission losses of as high as 40% in some areas.

3. Distribution Challenges

– High Distribution Losses: The distribution companies (DisCos) face high technical and commercial losses due to outdated equipment, theft, and non-payment by consumers. Technical losses result from poor infrastructure, while commercial losses stem from inefficient billing systems and poor collection practices.

– Insufficient Metering: A significant percentage of electricity consumers are not metered, leading to estimated billing, customer dissatisfaction, and resistance to payment. As of 2022, over 50% of electricity customers in Nigeria were not metered.

4. Gas Supply and Pricing Issues

– Gas Constraints: Despite being rich in natural gas reserves, Nigeria struggles with ensuring consistent gas supply to power plants. Gas pricing policies, insufficient investment in gas infrastructure, and pipeline vandalism frequently disrupt supply, reducing the output of gas-powered plants.

– Gas Pricing: The domestic gas price structure for the power sector is often not cost-reflective, making it unattractive for gas producers to prioritize supply to power plants over export markets.

5. Funding and Investment Gaps

– Lack of Long-term Investment: Nigeria’s power sector requires significant investment in generation, transmission, and distribution infrastructure. The government has struggled to attract the necessary long-term private investment, partly due to regulatory uncertainties and perceived risks in the sector.

– Debt and Cash Flow Issues: The DisCos are often unable to recover their costs due to low tariffs, theft, and inefficiencies, leading to a liquidity crisis in the sector. They owe significant debts to the Nigerian Bulk Electricity Trading (NBET) company, which in turn affects payments to generation companies (GenCos).

6. Regulatory and Policy Inconsistencies

– Frequent Policy Changes: Inconsistent government policies and regulations have created an uncertain business environment, discouraging investment. Changes in tariffs, licensing, and government interventions have sometimes created a lack of trust between the government and private sector players.

– Tariff Structure: Nigeria’s electricity tariff structure has historically been non-cost-reflective, with subsidies making it difficult for operators to cover the cost of generating and distributing electricity. Although the Multi-Year Tariff Order (MYTO) seeks to address this, implementation has been inconsistent.

7. Vandalism and Insecurity

– Pipeline Vandalism: Attacks on gas pipelines, particularly in the Niger Delta, have been a major constraint on gas supply to power plants, leading to plant shutdowns and electricity shortages.

– Sabotage and Theft: In addition to pipeline vandalism, there is widespread theft of electrical infrastructure, such as transformers, cables, and other equipment, which disrupts power supply and increases operational costs for DisCos.

8. Poor Power Sector Governance:

– Inefficient Management: Despite privatisation, there have been issues with governance, particularly in the management of DisCos. Some companies have struggled with inefficiency, corruption, and lack of capacity to operate effectively.

– Weak Enforcement of Contracts: Inadequate enforcement of contracts between government agencies, power operators, and gas suppliers has led to disputes and project delays.

9. Limited Renewable Energy Integration

– Nigeria has immense potential for renewable energy (solar, wind, hydro), but this remains underutilised. Regulatory and financial barriers have prevented large-scale investment in renewables, and the country remains overly reliant on fossil fuels.

The Way Forward in Address Nigeria’s Power Deficit

1. Expand and Diversify Generation Capacity 

– Gas Infrastructure Investment: Nigeria needs to invest in expanding its gas pipeline network, ensuring more stable gas supply to power plants. This will require collaboration between the government and private sector, as well as improving security in the Niger Delta to reduce pipeline vandalism.

– Diversify Energy Sources: Nigeria should invest in diversifying its energy mix by increasing the share of renewable energy sources. Solar, wind, and small hydropower projects could provide decentralised solutions to areas that are not well-served by the grid. Expanding renewable energy projects will reduce the over-reliance on gas and improve energy security.

– Incentivise investments in renewables by offering tax breaks and improving access to green financing.

2. Strengthen Transmission Infrastructure

– Invest in the Transmission Network: Significant investment is required to upgrade and expand the transmission grid. This includes the construction of new transmission lines, upgrading existing ones, and increasing substation capacity. The government should prioritize public-private partnerships (PPPs) to mobilise financing for transmission projects.

– Unbundle the Transmission System: Allowing greater private sector involvement in the transmission network, possibly through a concession system, could improve efficiency and reduce transmission bottlenecks.

3. Improve Distribution and Metering

– Accelerate Metering: The Nigerian Electricity Regulatory Commission (NERC) should fast-track the Meter Asset Provider (MAP) scheme to ensure that all consumers are metered. This will reduce billing disputes, improve payment compliance, and help DisCos recover revenues. NERC must also effectively regulate these natural monopolies snd protect consumers from shouldering the cost of the inefficiency of the operators.

– Reduce Distribution Losses: Distribution companies should invest in upgrading their infrastructure to reduce technical losses. This may involve replacing old equipment, upgrading substations, and implementing modern grid management technologies.

– Enhance Revenue Collection: DisCos should improve their customer service, reduce estimated billing, and implement more efficient billing and collection systems.

4. Address Gas Supply Issues

– Gas Pricing Reform: The government should review and update gas pricing policies to make them more cost-reflective, ensuring that power plants can access affordable and reliable gas supplies. This could involve revising the domestic gas obligations and introducing incentives for gas producers to prioritise the domestic market.

– Security of Pipelines: Improved security measures, including community policing and surveillance technology, should be implemented to protect gas pipelines from vandalism.

5. Ensure Cost-Reflective Tariffs

– Tariff Reforms: Tariffs need to be adjusted to reflect the true cost of electricity production, transmission, and distribution, while ensuring affordability for consumers. The Service-Based Tariff (SBT)system, which ties tariffs to the quality of service received by customers, is a step in the right direction but needs consistent implementation.

– Targeted Subsidies: Rather than subsidising electricity across the board, the government should implement targeted subsidies for low-income households, allowing DisCos to charge higher tariffs to more affluent consumers and industries.

6. Encourage Private Sector Investment

– Enhance Regulatory Certainty: The government must create a more stable and predictable regulatory environment to attract long-term investments. This includes sticking to agreed contracts, reducing political interference, and ensuring a transparent regulatory process.

– Public-Private Partnerships (PPP): The government should promote more PPPs for power sector projects, especially in transmission and generation. Providing guarantees and risk-sharing mechanisms could encourage more private sector participation.

7. Improve Governance and Accountability

– Strengthen Management of DisCos and GenCos: The government should enforce performance contracts and hold operators accountable for inefficiencies. If private operators fail to meet agreed benchmarks, the government should have the option of repossessing or reselling the companies.

– Capacity Building: Invest in building technical capacity within regulatory bodies and power companies to improve governance and management practices.

8. Leverage Decentralised Solutions

– Mini-Grids and Off-Grid Solutions: Nigeria should encourage the development of decentralised power solutions, such as mini-grids and solar home systems. These are especially useful in rural areas that are not connected to the national grid and could help meet the country’s energy needs more quickly and affordably.

9. Enhance Regional Power Integration

– West African Power Pool (WAPP): Nigeria should actively participate in the WAPP initiative, which promotes regional power sharing across West Africa. By enhancing cross-border electricity trading, Nigeria can benefit from regional resources and stabilise its power supply.

This presentation would be incomplete without specific mention of the new Electricity Act 2023, which replaces the Electric Power Sector Reform Act (EPSRA) of 2005. The Electricity Act 2023 provides a new regulatory framework that significantly deregulates the Nigerian power sector, empowering states and the private sector. It opens up a wide range of opportunities for localised electricity markets, renewable energy development, and infrastructure investments. With the potential for more competitive and flexible market structures, both state governments and private investors can collaborate to solve Nigeria’s longstanding power challenges while capitalising on new business opportunities.

Conclusion

Reducing Nigeria’s power deficit requires a comprehensive approach that addresses generation, transmission, and distribution constraints. The solutions involve infrastructure investments, regulatory reforms, increased private sector participation, and the adoption of new technologies such as renewable energy and decentralised systems. By tackling these challenges holistically, Nigeria can significantly improve its electricity supply, support economic growth, and improve the wellbeing of its citizens.

PART3: TRANSITIONING TO A DIGITAL ECONOMY

1. Overview of Nigeria’s Digital Landscape (1999-2024)

Nigeria has made remarkable progress in expanding access to digital services over the last 25 years. The liberalisation of the telecommunications sector in 2001 led to exponential growth in mobile phone subscriptions, rising from 450,000 active lines in 2001 to over 207 million by 2023. Mobile internet penetration has also increased significantly, with over 100 million internet users as of 2022. Despite these gains, Nigeria lags behind in digital infrastructure, digital literacy, and the adoption of digital technologies in government and business processes.

2. Opportunities in Nigeria’s Digital Economy

– Fintech

Nigeria’s fintech sector is rapidly growing, driven by innovations in digital payments, micro-lending, and cryptocurrencies. The sector presents opportunities for job creation, financial inclusion, and economic growth.

– E-Commerce

E-commerce has significant potential, with platforms like Jumia leading the charge. Improved internet access, logistics, and payment systems can help e-commerce expand across Nigeria, offering new business opportunities for SMEs and entrepreneurs. 

Agritech

Digital solutions in agriculture, such as precision farming, digital marketplaces, and fintech for farmers, present significant opportunities to modernise Nigeria’s agricultural sector and improve food security.

– E-Government

Digitalizing government services can enhance transparency, reduce corruption, and improve service delivery. The use of blockchain technology in public records, voting, and land registration is one example of how Nigeria can benefit from digital transformation.

– Digital Health and Education

The COVID-19 pandemic accelerated the adoption of telemedicine and e-learning platforms. These sectors remain fertile ground for further innovation, especially in addressing the gaps in healthcare access and education in rural areas.

2. Challenges in Transitioning to a Digital Economy

– Digital Infrastructure: Inadequate broadband penetration and unreliable internet services hamper digital transformation, particularly in rural areas.

– Digital Literacy Gap: Although Nigeria boasts a young and dynamic population, digital literacy remains low, limiting the ability of the workforce to participate in the global digital economy.

– Regulatory and Legal Framework: The absence of robust laws governing data protection, cybersecurity, and intellectual property creates an environment of uncertainty for tech entrepreneurs and investors.

– Access to Finance: Many tech startups in Nigeria struggle to access the financing necessary to scale their businesses and compete globally.

– Cybersecurity Risks: As Nigeria’s digital footprint grows, so do the risks of cyber-attacks, data breaches, and fraud. Without robust cybersecurity frameworks, the growth of Nigeria’s digital economy could be undermined.

The Way Forward for Nigeria’s Digital Economy Transition 1. Government Commitment and Policy Framework

– National Digital Economy Policy and Strategy (NDEPS): The Nigerian government launched the National Digital Economy Policy and Strategy (NDEPS) 2020–2030, which outlines the roadmap for Nigeria’s digital transformation. The policy has eight pillars:

1. Developmental Regulation

2. Digital Literacy and Skills

3. Solid Infrastructure

4. Service Infrastructure

5. Digital Services Development and Promotion

6. Soft Infrastructure

7. Digital Society and Emerging Technologies

8. Indigenous Content Development and Adoption.

These pillars highlight the need for infrastructure development, digital literacy, regulatory support, and indigenous innovation. By implementing NDEPS effectively, Nigeria can build a robust digital economy.

2. Investing in Infrastructure Development

– Developing broadband infrastructure is key to Nigeria’s digital economy. The National Broadband Plan (2020-2025) seeks to achieve 70% broadband penetration by 2025, with minimum speeds of 25 Mbps in urban areas and 10 Mbps in rural areas. This infrastructure is critical for enabling digital services, e-commerce, and other internet-based industries.

– Data Centers and Cloud Computing: Investment in data centres and cloud infrastructure will support digital services, improve data security, and enhance Nigeria’s capacity for emerging technologies like AI and machine learning.

3. Digital Literacy and Workforce Development

– Building a digitally literate workforce is fundamental to a successful transition. Comprehensive digital skills programs should be rolled out across the country to equip Nigerians with the skills needed for the Fourth Industrial Revolution. This includes coding, cybersecurity, data science, and artificial intelligence. Programs like the Digital Nigeria Program aim to improve digital skills for Nigerian youth, which will help address unemployment while equipping the workforce to thrive in a digital economy.

– Partnerships with the private sector and international organisations can enhance STEM education (Science, Technology, Engineering, and Mathematics) at all levels of education and boost training programs for tech and non-tech industries.

4. Support for Startups

– The government should create a more favourable environment for tech startups by providing access to venture capital, tax incentives, and incubation hubs. Partnerships with international tech companies and organisations can further bolster the growth of Nigeria’s digital sector.

5. Promotion of Fintech and Digital Financial Inclusion

– Nigeria’s fintech sector has seen significant growth, led by companies like Flutterwave, Paystack, and Interswitch. The Central Bank of Nigeria (CBN) introduced policies like the eNaira, Africa’s first central bank digital currency, to boost financial inclusion and promote a cashless economy.

– Expanding digital financial services to underserved areas and segments, including rural populations and women, is key to fostering inclusive growth in the digital economy.

6. Government Initiatives

– Accelerating the adoption of digital technologies in government services will improve efficiency, transparency, and accountability. This includes implementing e-governance systems for tax collection, procurement, and public services.

7. Enabling Regulatory Environment

– To foster a thriving digital economy, Nigeria needs a modern legal and favourable regulatory framework that supports innovation while safeguarding data privacy and cybersecurity. This is crucial for fostering innovation. Regulatory clarity around emerging sectors like cryptocurrency, e-commerce, data protection, and cybersecurity is necessary to build investor confidence and protect consumers.

– The creation of the Nigerian Data Protection Regulation (NDPR) is a step forward in safeguarding personal data, but further work is needed to fully align with global standards like the GDPR and ensure the protection of digital rights.

Conclusion

Nigeria’s transition to a digital economy holds immense potential for transforming its economic landscape, creating jobs, and driving inclusive growth. To fast-track this transition, the government must prioritize infrastructure development, digital literacy, favourable regulations, and indigenous innovation. While challenges such as poor internet access, regulatory uncertainty, and cybersecurity risks remain, the opportunities in fintech, e-commerce, agritech, and digital services present significant growth potential. With the right policies, partnerships, and investments, Nigeria can become a digital leader in Africa.

CONCLUDING REMARK

Ladies and gentlemen, tackling insecurity, solving the electric power deficit, and transitioning to a digital economy are three intertwined challenges that Nigeria must address to unlock its potential. The road ahead is long, but it is not insurmountable. With the right policies, investments, and collective efforts from both the public and private sectors, Nigeria can emerge as a leader in Africa and the world.

Let us seize this moment to build a secure, electrified, and digitally connected Nigeria – one that offers prosperity and opportunities for all its citizens.

Thank you. God bless.

. Being the keynote address presented by a former Minister of Power and former Governor of Cross River State, Liyel Imoke, at the 8th Annual General Conference of the Guild of Corporate Online Publishers in Lokoja, the Kogi State capital, on October 3, 2024.

Programme: CITY TALKS WITH REUBEN ABATI

Time: 12:00pm

Guests: Comrade Adedoyin Adesina
(Former NUT Chairman, Lagos State) &

Arobadi Omololu
(Educationist)

Eluwa Blessing Odochukwu
Educator & Administrator

Topic: World Teachers Day 2024

Date: 5th October, 2024
                         
Join Zoom Meeting
https://zoom.us/j/92877141732?pwd=VEJWb29OL2VVekZUTHRpdWYxK0xxZz09

Meeting ID: 928 7714 1732
Passcode: 600206

The ultimatum comes as a result of outstanding payments that must be settled within two weeks.

In a notice addressed to 3,273 allottees of the plots, the FCTA outlined the urgency of the situation, emphasizing the need for compliance to avoid penalties.

The notice, titled “Demand Notice for Payment of Right of Occupancy Bills for Issuance of Certificates of Occupancy on All Lands Allocated at Maitama II District, Cadastral Zone A10, Abuja,” was obtained by Premium Times on Friday.

The announcement has sent ripples of concern among the affected landowners, many of whom are high-profile individuals and established corporations.

Among those listed as as owners of the plots are the Chief of Staff to the President, Femi Gbajabiamila, Speaker of the House of Representatives, Abbas Tajudeen, Secretary to the Government of the Federation (SGF), George Akume, Minister of Interior, Olubunmi Tunji-Ojo, former Senate President, Bukola Saraki, former Speaker of the House of Representatives, Yakubu Dogara, and former Deputy Senate President, Ovie Omo-Agege,

Others are former Governors Theodore Orji (Abia), Rochas Okorocha (Abia), Ibikunle Amosun (Ogun), Tanko Al-Makura (Nasarawa), Joshua Dariye (Plateau),

Gabriel Suswam (Benue), Ibrahim Shekarau (Kano), Okezie Ikpeazu (Abia), Jonah Jang (Plateau), Seriake Dickson (Bayelsa), Adamu Muazu (Bauchi) and Bukar Abba Ibrahim (Yobe).

Minister of Sports, John Eno, Minister of Agriculture and Food Security, Abubakar Kyari, and former Minister of Labour and Employment, Chris Nwabueze Nigige, were also listed.

Serving and former lawmakers on the list are Dino Melaye , Kabiru Marafa, Stella Oduah, Danjuma Goje, Ben Bruce , David Umaru, Saliu Mustapha, Biodun Olujimi, Andy Uba, Sunday Karimi, Olumide Osoba, Nicholas Ossai, Emmanuel Bwacha, Osita Izunaso, and the House Leader, Julius Ihonvbere, Wole Oke, Kabiru Gaya, Beni Lar, Leo Ogor, Darlington Nwokocha, Petet Nwaoboshi, Oker Jev, Lynda Ikpeazu, Khadijat Ibrahim, Obinna Chidoka, Philip Aduda, Smart Adeyemi, Chukwuka Utazi, Timothy Golu, Edward Pwajok, Ali Ndume, Ben Obi, Binta Garba, and Teslim Folarin.

Also on the list are a former National Chairman of the ruling APC, Adamu Abdullahi, Third Republic Senate President, Ameh Ebute, Yusuf Buhari and Zahra Buhari (both children of former President Muhammadu Buhari).

The FCTA said it issued the notice because it is carrying out infrastructural development in the district.

“The Federal Capital Territory Administration (FCTA), through the Federal Capital Development Authority (FCDA), is carrying out infrastructural development in Maitama II (A10) District.

“All allottees who have not paid their bills for the Certificate of Occupancy (C-of-O) are hereby advised to settle their bills in full within two (2) weeks from the date of this publication.

“All affected allottees are informed that failure to pay all outstanding land bills, rents, fees, and charges within the stipulated grace period will result in the withdrawal of the offers of Rights of Occupancy (R-of-O) over the said plots of land by the Honourable Minister of the FCT, and reallocation of the lands,” the notice said.

[NaijaNews]

Super Eagles striker Victor Osimhen has experienced a 25% drop in market value, now standing at €75 million following his loan transfer from Napoli to Turkish giants Galatasaray. This decline, down from his previous valuation of €100 million, has not deterred interest from top European clubs, with Chelsea remaining closely linked.

According to Transfermarkt’s recent update, the value of the Nigerian international has decreased. Nevertheless, Osimhen insists that he is worth more than the current figure. Despite the drop, interest in Osimhen remains high, with clubs like Chelsea continuing to monitor his situation.

The 25-year-old striker’s move to Galatasaray, which made him the most valuable player in Turkish Süper Lig history, came after his failed transfer to Chelsea and rejection of a move to Saudi Arabia. Napoli had initially set a €130 million price tag, which proved too high for potential suitors, allowing Galatasaray to capitalize on the opportunity.

Gökhan Yagmur, Türkiye Area Manager for Transfermarkt, explained that Osimhen’s market value decrease was influenced by his transfer situation and the status of the Süper Lig. “Osimhen is an exception in Turkish football,” Yagmur said. “Napoli expected €130 million, but when top clubs couldn’t meet those demands, Galatasaray seized the moment.”

Osimhen’s impressive performances at Galatasaray, including two goals and two assists in five matches, have continued to attract attention from across Europe. Despite the valuation drop, Osimhen remains confident, stating, “I am worth more than €100 million. There are few players like me in the world who have achieved this style and success.”

[Businessday]

Buildings and other property were shattered in the early hours of Saturday as explosives suspected to be dynamite shattered the secretariat of the All Progressives Congress along Aba Road in Port Harcourt, Rivers State capital.

The explosion brought down the gate of the secretariat while doors, windows and other property were destroyed.

This is the second time the Chief Tony Okocha-led APC would be experiencing such an attack at its secretariat this year.

This came as the local government elections is set to hold in the state today as the Rivers State Independent Electoral Commission said on Friday that all sensitive materials have been distributed to the various local government areas.

A viral video of the incident scene seen by our correspondent showed some workers at the facilities going round to ascertain the extent of damage.

When contacted, the spokespetson for the state police command, Grace Iringe-Koko, said she had yet to get a report on it but promised to revert.

The party has yet to make a statement on the incident.

Details later…

[Punch]

Dr. Muhammed Sanusi is the Secretary General of the Nigeria Football Federation, NFF. He has been in the news these past few days. The gentleman is my friend. I like him a lot. As far as I can see from my observatory in the rolling hills of Wasimi, he has maintained great decorum in the handling of the affairs of football in the country. 

I have not interacted with him close enough at any time since I first met him many years ago to know him beyond his courteousness, politeness, soft-spokenness, and never-in-your-face attitude. He carries good credentials in his long and varied experiences working in the NFF as well as in academic scholarship (with a Doctorate degree to boot).

As far as his handling of the affairs of the NFF is concerned, I have not had any close interactions with the organisation since he became the Secretary General over 10 years ago, so, I know little and cannot be a fair judge about his capacity and performance as administrator of the secretariat of the most important sports federation in Nigeria. 

In those past 10 years, I have not had any serious dealings with the Nigeria Football administration outside journalistic enquiries about some issues for which Dr. Sanusi was always quick to provide the needed information, or direction to the source of better information. He would do these things courteously. 

What I do not know is whether that attitude and treatment are general or a special treat reserved for me. Either way, I thank him.

From time to time, however, Dr. Sanusi comments on some of my postings on my social media platforms, often with a kind word here and there. Even when I wrote what some persons considered negative about him by raising issues about his humongous salary, he did not take it personal, and did not miss a beat in our friendly relationship. 

So, I know Dr. Sanusi Muhammed enough even if I have not had much direct dealings with him in the over 10 years of his being the Secretary-General of the Nigeria Football Federation, NFF. So, I respect our remote friendship. 

At the moment, his matter is heating up the system. Some stakeholders in the General Assembly of the NFF are planning to use their numbers and resources to offer him a new contract when the present one expires at the end of the year. Undoubtedly, the move is not popular. It may create a ripple effect that could become a storm in the immediate future.

Ordinarily, renewing Sanusi’s contract should be routine. There should be no issues about reappointing a competent and performing Secretary-General. Unfortunately, there are issues that negate this intention. The public and some media are raising very serious issues about why Sanusi’s contract should not be renewed. He has been in that office for 11 years, longer than anyone else in history. That’s not the problem. His latest contract will end in December this year. 

I will not pretend that I am familiar with all the issues, but there is one issue that attracts my attention and the need for this humble comment. 

Let me establish this background. 

I am not a tribalist. I do not have a single drop of tribalism in my blood. 

I am of Yoruba extraction by birth. I spent the first 17 years of my life in Jos, in Northern Nigeria. I speak the Hausa language, even better than my Yoruba. 

In the formative years of my life, I attended primary and secondary schools owned by the Catholic Church, and populated mostly by Igbos in the years before the political crisis of 1966 that led to the bloody Civil war of 1967. So, I speak the Igbo language and some of my best friends are from that ethnic group.

I have spent the decades since December 1970 to date in Yorubaland, going through useful lessons in understanding my own ethnic roots. My mother was originally a Muslim and my father was one of the founders of the African Church in Jos. I am a product of this mixture of cultures, indoctrinations, exposures and experiences, finally emerging as a totally detribalised Nigerian that does not see things through the prism of ethnicity. 

So, back to the ongoing conversation on Dr. Muhammed Sanusi. Ethnicity has reared its dangerous head. 

A journalist called me the other day and wanted my views on the issue of the renewal of Sanusi’s contract from the position of ethnic balancing and federal character in the board of the NFF. He asked: Why would the two most powerful officials in the Nigeria Football Federation board come from the same geographical, political and ethnic group? Really?

How did that happen? Avoiding such a situation has voided the ambition of many aspirants to offices in the NFF in the past. Including me. There is always consideration for careful balancing and federal character consideration for appointments into national offices. It is so important in a multi-ethnic and multi-religious country like Nigeria that provision is inscribed into the country’s constitution.

In sports, although unwritten into the constitution of federations, it goes without saying that stakeholders would navigate through this minefield by deploying common sense, always observing the simple code of ethnic balancing during elections and in the employment of key staff. 

Occasionally there is a blip, but always created by circumstances that cannot be helped, and not as a deliberate strategy to impose any group on the rest. One such situation is Ibrahim Gusau succeeding Amaju Pinnick as President of the NFF when Sanusi was still Secretary General, inadvertently creating the present situation where the two most powerful men in Nigerian football come from the same geographical zone of the country. 

The reality is that when Sanusi was first engaged over 10 years ago, Amaju Pinnick, from the Southern part of the country, was President. 

Presently, some stakeholders are stoking the ambers of crisis. They are attempting to be clever-by-half by distorting what has ensured the equilibrium of things and instilled some level of equity and fair representation at the top of Nigerian football through the decades. 

I am not surprised, therefore, that an army of opposition has emerged to try to halt the clandestine plot. Sanusi is to be used as a pawn and returned as Secretary General against the grain of best established practise, common sense, equity and ethnic balancing in the administration of football in Nigeria.

No matter how attractive the offer may be, or what power the stakeholders planning this plot may have at the moment, my advice is that they should shelve the plan for the good of the game and of peace, and follow the path of reason. Should they choose to pursue this narrow agenda, they may be planting the seeds of a future crisis.

In an ideal society it should matter the least where a person comes from in the matter of employment, but not so in Nigeria as history and previous experiences have taught us through the country’s history. A word is enough for the wise. 

I wish the General Assembly of the NFF useful deliberations.

In pursuit of capital to finance its operations, the Nigerian National Petroleum Company (NNPC) Limited offered a substantial volume of the nation’s crude oil to creditors to secure about $6 billion in loans within three years.

The NNPC is also currently shopping for another $2 billion loan that will see the company hand over more barrels to deep-pocket investors.

The crude-backed loans, drawn from four different deals, were obtained between 2020 and 2023 — a period Nigeria’s crude oil production fell from 1.49 million barrels per day (bpd) to 1.31 million bpd.

TheCable presents details of the deals.

PROJECT GAZELLE

In August 2023, the NNPC secured a $3 billion oil-backed loan from the African Export-Import Bank (Afreximbank) to support the naira and stabilise the foreign exchange (FX) market.

In the deal, the oil company pledged a total of 164.25 million barrels of crude.

At 90,000 barrels per day, starting from 2024, NNPC is expected to repay the loan through Project Gazelle Funding Ltd, a special purpose vehicle (SPV) incorporated in the Bahamas.

Commenting on the transaction in its 2023 audited financial statements, the NNPC said the funding was utilised to finance an “advance payment of future taxes and royalty obligation due to the federation on production sharing contracts (PSC) assets managed by the company on behalf of the federation”.

According to the NNPC, the interest rate for the facility is 11.8 percent while the margin and liquidity premium are 6 percent and 0.5 percent respectively.

In January, Afreximbank announced the first disbursement of $2.25 billion under the crude oil prepayment facility.

The lender also paid out an additional $925 million in June — bringing the total disbursement to $3.175 billion.

PROJECT BISON

In September 2021, the NNPC proposed to acquire a 20 percent interest in the Dangote Petroleum Refinery for $2.76 billion.

According to the national oil company, the deal was financed by a forward sale agreement of $1.036 billion from Lekki Refinery Funding Limited — of which $1 billion was paid to Dangote refinery.

The oil firm said it signed the forward sale agreement with the Lekki refinery to supply 35,000 barrels of crude per day (bpd) for the settlement of the $1.036 billion (N426.2 billion) funding.

The interest rate for the facility, according to the NNPC, is 11 percent.

NNPC said it paid $625 million principal, while $424 million (N324 billion) is still outstanding, as of December 31, 2023.

The national oil company added that the investment was initially held by the NNPC Greenfield Limited, its wholly-owned special-purpose vehicle (SPV).

PROJECT EAGLE

In 2020, the NNPC signed a $1.5 billion prepayment deal with Eagle Export Financing Limited.

Under the terms of the agreement, the NNPC commenced reimbursement of the facility on August 28, 2020, with 1.8 million barrels of crude oil every delivery period.

The forward sale agreement (FSA) was meant to provide capital for investment in NNPC’s production capacity, which is of strategic importance to the Nigerian economy and the country’s leading source of FX earnings.

“The production under the FSA will support debt of up to N627.8 billion (US $1.5 billion), which has been structured as a crude oil prepayment facility over two tranches,” NNPC said.

United Bank for Africa (UBA), Standard Chartered Bank, Afreximbank, Union Bank, as well as Vitol and Matrix — two oil trading companies — participated in funding Project Eagle.

As of December 31, 2023, the NNPC said its subsidiary, NNPC Exploration and Production Limited (NEPL), had capital commitments of $352.88 million (N158.3 billion) relating to the forward sale agreement with Eagle Export Financing for the delivery of crude oil.

“Under the contract, Eagle Export Funding Limited will make an upfront payment to NEPL for crude in a forward sale agreement (FSA),” the firm said.

“The payment received is required to be settled with delivery of crude oil volumes i.e. NEPL sells crude to Eagle Export Funding Limited based on a delivery schedule.

“Based on the agreement, at least 1,800,000 barrels of crude oil must be nominated and scheduled by NEPL and delivered at the relevant delivery terminal to Eagle Export Limited in every delivery period which commenced on August 28, 2020.”

PROJECT EAGLE SUBSEQUENT

In another deal, the national oil company obtained pre-export finance (PXF) loans, named PXF1 and PXF2, for the settlement of its debts to some import vendors of petroleum products.

According to NNPC, the NEPL had capital commitments of $159 million (N60.3 billion) regarding the deal, as of December 2020.

However, NNPC said there are no capital commitments regarding the pre-export financing as of December 31, 2023.

“As at 31 December 2023, there are no capital commitments regarding pre-export financing as outstanding PXF 2 liability balance was refinanced through a forward sale of crude valued at $694m (N278 billion) to Eagle Export Limited tagged “Project Eagle Subsequent” on 15 March 2021,” the company said.

PROPOSED $2 BILLION LOAN BY NNPC

On July 9, Mele Kyari, group chief executive officer (GCEO) of the NNPC, said the company is in talks with lenders for a new $2 billion oil-backed loan to finance the NNPC’s operations and allow investment in its business.

Kyari said the company was seeking a loan against 30,000 bpd to 35,000 bpd of crude production.

He said the cash raised would be used for all NNPC’s business activities, including supporting production growth.

“We have no problem covering our gasoline payments. This is just money for normal business and not a desperate act,” Kyari said.

“It will be a syndication with critical but regular partners who have been in business with our company to forward the cash.”

In August, TheCable reported that top NNPC officials were in Europe to source the loans and were targeting Standard Chartered Bank in the United Kingdom.

If the deal is successful, it will increase the volume of crude oil pledged to NNPC’s lenders.

IMPACT OF NNPC’S CRUDE-BACKED LOANS

The NNPC said crude-backed loans are important for several reasons including accessing FX, financing its business activities, supporting production growth, and buying stakes.

However, stakeholders have raised concerns about the deals, stressing the negative impacts of such transactions.

According to oil experts, the forward sale arrangements have immense impacts on the country’s oil output, petrol availability, and external reserves.

Speaking to TheCable, Jide Pratt, an oil and gas expert, said the arrangements would negatively impact export volumes and domestic supply when crude oil production drops, as NNPC is compelled to set aside some barrels for the creditors.

“So if we have 1.34 million bpd production and 60 percent of that is for NNPC, if the company takes crude-backed loans, it reduces federation revenue,” he said.

“The impact also flows from under production as this means the company struggles to meet domestic crude supply obligation (DCSO) as we see with refineries not getting enough local crude feed.”

On August 11, the management of AIPCC Energy Limited, operators of the Edo Refinery and Petrochemicals Company Limited (ERPCL), said NNPC has failed to supply crude oil to the refiner despite having several meetings, correspondences, and communications with the national oil company over the past three years.

Speaking further, Pratt said the country’s revenue would decline over low oil production or the barrels offered in exchange for loans, preventing the government from increasing FX in the excess crude account.

“As such, with less volume produced or more pledged to forward sales combined with dropping crude prices, the government is unable to increase FX in the excess crude account,” he said.

“In all of this, NNPC shouldn’t have the free reign on crude-backed loans in a proper organisation with corporate governance structures.”

Also, Oyeyemi Oke, managing partner at AO2LAW, a law firm, said Nigeria uses potential revenues, which it is supposed to get in future, for the deal.

“We have collected it, or it will be part of the amount that will be used to repay the loan. Does that mean that, essentially, our revenues have gone down? Not necessarily,” he said.

“But what it means is that we don’t have flexibility to sell crude oil to other persons. What it means is that perhaps the financers under the forward sales arrangement have already locked in the crude to be supplied at a particular price, which gives little flexibility. What it means is that we may not be able to take advantage of the increase in crude oil price.”

Oyeyemi said part of the amount which should be in the foreign reserves — as a result of crude oil sale — is used to service loans obtained from the arrangement.

“But this is not unusual. The question is: what is the interest on loan to be repaid? I don’t think it’s unusual whereby we’re using part of our revenues to service debt, just like any commercial venture,” he said.

“If NNPC did not borrow the loans, Nigeria may have more money in its reserves, but since we are using loans, part of the monies which should be in our reserves will be used for settling the debts.”