Curvaceous film star Destiny Etiko has spoken on trust and loyalty as it concerns her relationships with those she considers dear to her heart.

She described herself as being ‘picky’ with people she befriended and one whose friendship with others is devoid of second chances.

Etiko, who claimed to have been heartbroken numerous times by those she genuinely loved and cared, about said loyalty meant a lot to her and would waste no time in disconnecting from any friend regardless of who the person is if she sensed even an ounce of disloyalty.

She explained that’s because she possesses an unwavering kind of loyalty even in the face of betrayal.

She said for that reason, it was almost impossible to give anyone who betrayed her a second chance as she’s someone with zero tolerance for fakeness.

The 33-year-old screen diva wrote: “Loyalty is a big deal to me. That’s why I’m very picky with my friends. I’m such a loyal person naturally. Even in the midst of fallout/betrayal. My loyalty remains the same.

Read Also: Actress Destiny Etiko calls out colleague over alleged debt

“I don’t give second chances when it comes to friendship. U betray me & I cut you off for life. I forgive but cut off. My heart is so pure & tender. I don’t want no fakeness. Zero tolerance”.

“This is soooo me. A wonderful heart that has been broken a lot of times by people I loved so much and sacrificed a lot for.

“But the thing is, when I decide I move, no turning back.

The film producer went on to advise individuals on guiding their lives jealousy seeing it had no duplicate.

“LIVE HAS NO DUPLICATE GUYS. Guide yours with every of your being”, she added.

Underlying the notion of celebration everywhere is the idea of accomplishments and success. This is why Yoruba people in Nigeria are generally renowned for their sometimes lavish weekend parties and rejoicings. 

Sunday, July 8, was no different as the people of Ikenne and their friends across the nation celebrated their illustrious son and associate, Prof Yemi Osinbajo, after his tour of duty and eight meritorious years of service to the nation as Vice President. I need not state that the Prof was with his beautiful wife, Oludolapo, whom he fondly calls ‘’Dolly’’. She is the granddaughter of the late Chief Obafemi Awolowo. Ikenne has always seen big parties, big funerals and lavish pageantries. But the Osinbajo reception was a grand event that many will not forget so soon.

Right from the streets you wouldn't miss the spirit of rejoicing and excitement that the Ikenne Development Association was bringing home the immediate past VP for such a time of thanksgiving.

Guests from across the country descended on the sprawling city in Ogun State. Some even arrived the state a day or two earlier. They turned up in colours – politicians, governors, traditional rulers, businesspeople, academicians, the young and old. Ordinary folks were also welcome. The guests were not disappointed as Ikenne Development Association, the hosts and organizers of the event, had spared no expense in delivering the right degree of pomp. The large hall, beautifully decorated, was full to capacity. It was the first time the new hall was in use as the IDA had just completed the project in time to honour the law professor who became VP from among them.

 There were dances, songs, tributes and speeches. The feeling in the air was one of satisfactory attainment. Merriments were in surplus. The atmosphere was convivial and joyous. 

Ikenne has been famous for ages for many reasons. The late Chief Obafemi Awolowo and Tai Solarin, hailed from there. The town was also made famous by Mayflower School, located on a 90-acre piece of estate and founded on January 27, 1956, by the Solarin, a Nigerian educator, humanist and social crusader. Ikenne was a Mecca of sorts for politicians and journalists when Chief Awolowo was alive; and when he died in 1987, nearly every person of note showed up. Another big crowd returned to the town in 2015 when Awo’s widow, Chief HID Awolowo passed away. I recall that President Muhammadu Buhari attended her funeral. Chief Awolowo’s mausoleum remains a major attraction. Ikenne is also the hometown of 13 legal luminaries, all senior advocates. Prof Osinbajo himself is the seventh of them. I do not know of any other town in the country that produces so many SANs. 

The town has recently been provided with many amenities including hospitals, market, schools, solar-powered street lights thanks to the intervention of Prof Osinbajo. So, it was not a surprise that practically everybody had lined up the streets to welcome Prof. Osinbajo’s motorcade when he arrived that Sunday afternoon.

Commercial motor cycle riders made up for police escort riders just like they would do for a president or vice president. It was a clear case of a prophet being honoured at home! Osinbajo’s entrance with his wife and entourage was grand as he exchanged banters acknowledged sporadic burst of affection and greetings by the many guests and townsfolk.

Prayers and National Anthem over, the event began with introductions of guests. Among them were three serving governors, two of them from the PDP: Prince Dapo Abiodun (Ogun); Godwin Obaseki (Edo) and Duoye Diri (Bayelsa). Others were Boss Mustapha, the former SGF, former ministers Rauf Aregbesola and Niyi Adebayo both of whom were also former Governors of Osun and Ekiti States. There were also former Governors- Donald Duke-Cross River and Sen. Serieke Dickson-Bayelsa, again from the PDP, driving home Osinbajo’s well known bipartisan appeal, which was demonstrated all through his 8-year tenure.

The Managing Director of NDPHC, Mr. Chiedu Ugbo, the Director-General of BPE, Mr. Alex Okoh and Mr. Laolu Akande, the VP’S official spokesperson while in office and now Editor in Chief of Empowered Newswire were also in attendance.

The Akarigbo of Remoland and paramount ruler of the entire towns making Remoland, Oba Babatunde Adewale Ajayi was also seated. In all parts of Nigeria, such high-profile events must be graced by the traditional chiefs of the community. Our traditions and customs add colour and flavour to our way of life and enriches the diversity of our federation. 

Others who attended the high-profile gathering were the Alakenne of Ikenne land, Oba Onakade; Alhaja Abimbola Jakande; Dr. Yemi Ogunbiyi; Chief Wale Babalakin, SAN, and Mr. Segun Awolowo, Dr. Nicolas Auddifren, Pastor Seyi Malomo amongst others.

Then came time for speeches. All the governors, traditional rules and other important guests took turns to pay glowing tribute to Prof Osinbajo for his sterling leadership qualities, service to the country, love for the people and contributions to the success of the Buhari administration.

In his remarks, Osinbajo renewed his commitment to work for the development and support of Ikenne Remo, his home town. He described the place as ‘’an incredible town”, drawing a long applause from the audience.

Resplendent in white agbada, Osinbajo said, “Ikenne is a great place indeed and of course, we know that this is the home of our sage and our father, the great Chief Obafemi Awolowo, the man for whom free education was attributed, and also good governance and infrastructure all over the Western region was attributed. 

“I say to all the young men and women here, your progress has only begun, where ever it is that we (the older ones) stop is only your own starting point. We are here to support and enable you to reach the height you can achieve.” He thanked the people for the thanksgiving reception. “Today is a day of thanksgiving and I thank the Almighty God and will continue to thank Him. I also want to thank so many of you who are here. It has been a great honour for me. The Almighty God who has enabled you to honour me in this way will honour you too. God will bless you and the name of the Lord will be glorified in your homes and everywhere you go,” Prof. Osinbajo said. 

Turning especially to Gov. Abiodun, Osinbajo expressed his gratitude for the support he had received from his State Governor.

“I thank you for not just your speech, but for your encouragement through the years and through the times. You have proven to be a brother indeed. 

“His Excellency, the Governor of Edo State, my dear brother Godwin Obaseki and his amiable wife, Mrs Betsy Obaseki, thank you for making the time today. Your Excellency, the Governor of Bayelsa, Duoye Diri, my brother and friend of so many years, thank you for not just coming alone, but coming with a delegation from Bayelsa State. I have the greatest love and respect for you. Former Governor of Bayelsa, State Seriake Dickson who is also our in-law, thank you for honouring me today.” 

Osinbajo also lauded other guests like the former Governors of Osun and Cross River States, Ogbeni Rauf Aregbesola and Donald Duke, as well as the immediate past Secretary to the Government of the Federation, Boss Mustapha and immediate past Minister of Industry, Trade and Investment, Otunba Niyi Adebayo. Prof. Osinbajo acknowledged the support he received from the Akarigbo of Remo, Oba Babatunde Ajayi, stating that “there is no time that he has not taken a personal interest in all my affairs, political and whatever affair. He has demonstrated that truly he is a father of the Remo nation’’. 

The immediate past Vice President thanked the Chairman of this occasion, Otunba Adeleke Adeshina. “He is a man who through the years has shown great interest in the affairs of not just Ikenne and Remo, but in the affairs of this nation. He continues to serve this nation faithfully,” Prof Osinbajo said.

When Governor Dapo Abiodun spoke earlier, he was filled with gratitude.He expressed the appreciation of the government and the entire people of Ogun State to God for the strength and wisdom given to Prof. Osinbajo through which he was able to navigate Nigerian politics and government. “Indeed, one of the things that put Ogun State on the world map is the trail-blazing records that the sons and daughters of our dear State have set in different fields of human endeavour. Among numerous others, the late sage, Chief Obafemi Awolowo, GCFR, stands tall in governance and public administration. “In furtherance of his legacy and ideology, Prof Osinbajo has not only distinguished himself in his calling but also raised the bar in good governance. Our own Prof, in whom we are well pleased, we all know is a prodigious intellect.” The governor noted that the State is “proud that Professor Osinbajo has exhibited an unwavering commitment to the socio-economic and political development of our dear Nation, Nigeria. You served with dignity, integrity and utmost character. Congratulations! The government and people of Ogun State are very proud of you. Now that you are back at home, we will continue to tap into your wealth of experience, especially in matters relating to good governance.”

Edo State Governor, Godwin Obaseki said working with Osinbajo as Vice President was a special experience for him and he was eternally grateful for the opportunity. "Working with a man who had a vision, a man who is committed to this country, a man who has character and a man who has integrity, for me was a unique experience," Obaseki said.

"During our National Economic Council (NEC) sessions, we see an intellectual, who worked through all the papers presented to us. I know Ikenne people are known for hard work and diligence. He brought those characteristics to us in NEC. Your Excellency, we say thank you’’.

Former Bayelsa State Governor, Seriake Dickson in his tribute said, "we are here because we see in the former Vice President a man of character, a man who served this country meritoriously. We are also here in the reciprocity of whom the former vice president has been to our state in his official capacity as Vice President of this country," Dickson said, adding that Osinbajo had visited Bayelsa before and during his tenure as governor not less than five times officially. ‘’At any time that we called upon him to do one thing or the other, he has always been there. He has done a lot for our state, Bayelsa."

The Akarigbo of Remoland, Oba Babatunde Ajayi, in his address, lauded the patriotism of the former VP, commended him for his meritorious eight years of service to Nigeria, saying Osinbajo represented them very well. Attesting to Osinbajo's integrity, the monarch recalled a time when some unfounded allegations were being orchestrated politically against Osinbajo in the midst of two-term tenure, saying he went to inquire from the former VP about what happened and Osinbajo confidently spoke out nailing the wild claims in the coffin.

He said, "I recall when he was at the helm of affairs. I had to gather eminent sons and daughters of Remo; we went to see him in Lagos. We asked him ‘Mr Vice President all these things we are hearing are they true that you took this, you took that’? 

"He looked me right in the eyes and said Kabiyesi, I know where I am coming from before I became the Vice President, I knew who I was with all the opportunities I now have, I won't take anybody's kobo.

"Immediately he told us that, we went on the offensive saying it is not possible, It can't happen because we believed what he told us. Osinbajo is a man of integrity and he has represented us well,' His Royal Majesty concluded.

It would be recalled indeed that many of those who had published the allegations not only retracted the story but also issued public apologies.

The President of Ikenne Development Association, Otunba Adedoyin Adesina, who is the Aare Asoludero of Ikenne land, had in his welcome address, thanked Osinbanjo for the numerous projects he spearheaded in his hometown throughout his eight-year tenure. The guests were amazed when the Otunba started reeling out the projects one by one. He also stated that it was Osinbajo who turned the sod for the construction of the event center used for the thanksgiving and appreciation event in his honour. "Distinguished ladies and gentlemen, it is remarkable to highlight that the foundation laying ceremony of the edifice that we are in today was done by our former Vice President, Prof. Yemi Osinbajo on the 7th of November 2015," Otunba said. The applause was huge.

That applause was not only for the litany of human capital development and infrastructure projects that the immediate past VP facilitated but also the sense of overwhelming fulfillment in Ikenne and across Nigeria that Prof. Osinbajo served diligently and with all his heart. This was the overall spirit at Ikenne on that Sunday afternoon.

Let me begin with the diagnosis of the "Root of Social Evil" in a tweet by our revered Pope Francis, the head of the Catholic Church, the Bishop of Rome, and the sovereign of the Vatican City State. Pope Francis, posited: "As long as the problems of the poor are not radically resolved by rejecting the absolute autonomy of markets and financial speculation and by attacking the structural causes of inequality, no solution will be found for the world’s problems or, for that matter, to any problems. Inequality is the root of social ills." I argued that we have a system that is programmed in such a way that encourages dishonesty and prone to inequality.

When one recognizes this objective truth, the evil of inequality—of rejecting the equal worth of all and the treatment that necessarily corresponds with its recognition—can be seen as the true foundation of social injustice. It defines how we view our relationships with others and the social structures that exist (and have the capacity to either foster human flourishing or perpetuate injustice). One sees that social evil is rooted in the rejection of equality. Unarguably, this is part of some of the areas that we need to pay serious attention to and addressed the issues that undermines our collective interest, turning our situation around. Nigerians will certainly be more than happy to start experiencing a new dawn and the verdict of posterity, the verdict of history, and the judgment of God will be kind to all of us as we take heed.

Sadly, Nigerians are currently experiencing excruciating effects of yesterday's mismanagement through hardship, terrorism, kidnapping, killings, insurgencies, and economic downturn in recent past years, it has been hellish. Therefore, the idea of continuation of yesteryear's obnoxious policies aimed at encouraging fraudulent activity should be completely discouraged given the results of the immediate past administration in such issues. The idea of sharing money as a form of palliative for the masses was a complete failure. As such, sharing of money as exemplified by the immediate past Minister of Humanitarian Affairs, Sadiya Faroug is a reminder of an unworkable system prone to corruption.

It is interesting to note that there is a previous unpleasant precedence of Buhari's government money sharing via the Humanitarian Affairs Minister, Sadiya Faroug which ended up as a huge joke - no accountability, no record of recipients, beneficiaries list or records was not available for proper scrutiny and it ultimately became a conduit pipe for embezzlement. You will hear her telling them in the Hausa language that 'Baba Buhari ya nemi mu ba wannan ɗan siyasan wannan fitina, ya sake ta' which means 'Baba Buhari asked us to give this politician this amount, release it.'

Interestingly, a belief in human equality leads one to recognize the obscenity of people starving while others live in excess. One can see the evil in human beings being used as sexual objects to satiate an individual’s animalistic impulses. Pride, lust, envy, and other sins are enabled and multiplied when equality is denied. This belief in human equality is rooted in the recognition that each person is made in the image of God. Each person is a loved child of God. Each person is called to communion with God and others. Therefore, our humanity should supersede our religiosity and other considerations.

Paradoxically, our beloved country Nigeria is one of the most unequal society in the world where wealth and poverty is the central paradox of modern-day Nigeria. A key challenge confronting Nigeria is the scale of inequality, which has resulted in the lack of opportunities for most of our citizens. Surprisingly, there are no indications whatsoever that we have learned our lessons. We embrace wasteful activities, meaningless show-offs, and irresponsible behaviors. And still expect things to magically change for the better. Yes! Miracles do happen, however, it is important to note that we can only reap what we sow as a nation and as a people. I daresay that It is not rocket science.

Let me be very clear, improving the governance of public institutions and service delivery has long been a central tenet of strategies for achieving or supporting development; thereby, simplifying radical changes. As such, citizens have confidence in a government that is able to deliver basic services. The degree to which a government is able to carry out its functions at any level can often determine a country's ability to sustain democratic reforms and provide for the well-being of its citizens.

Flowing from the above, it is evidently clear that the origins of our present debacle can be traced to profligacy; squandering of riches and plundering of resources by the privileged few, particularly the public office holders, and political elites in collaboration with the business community. The concerns, therefore, is about the mechanism of transfers of funds to the ultimate targets in an unaccountable system as exemplified by the recent past experiences of our citizens. Even if the intention of the drivers are genuine and faultless! How about the recipients limitations in terms of access to the funds vis-a-vis Banks account and corresponding records. This is an area that we can not afford to overlook given a system that is programmed and suspectable to manipulation.

In conclusion, it is opined, that more enduring policies with a human face devoid of the calamitous and fraudulent activities of the past that further impoverished the citizens and sink the nation deeper into debt will suffice. EXPECTEDLY NIGERIANS ARE LOOKING FORWARD TO A 'RENEWED HOPE' THAT BRINGS SUCCOUR AND REMEDY THE PAST.

Richard Odusanya is a Mind Restructuring Enthusiast.

The Federal Government, through the Federal Ministry of Agriculture and Rural Development Monday, officially confirmed the first case of anthrax in the country.

According to a statement signed by the Chief Veterinary Officer of Nigeria, Dr. Columba T. Vakuru , animals showing signs of a possible case of anthrax on a farm in Suleja, Niger State, were reported to the Office of the Chief Veterinary Officer of Nigeria on July 14, 2023.

The statement reads in part, “The case was in a multi-specie animal farm comprising of cattle, sheep and goats located at Gajiri, along Abuja-Kaduna express way Suleja LGA Niger State, where some of the animals had symptoms including oozing of blood from their body openings – anus, nose, eyes and ears.

“A Rapid Response team comprising of federal and states One Health Professional Team visited the farm to conduct preliminary investigations and collected samples from the sick animals. Subsequent laboratory tests by the National Veterinary Research Institute laboratory confirmed the diagnosis, marking the first recorded case of anthrax in Nigeria in recent years.”

Recall that the federal government had issued a warning to Nigerians weeks ago after a report of anthrax outbreak in Northern Ghana where all infected animals had died.

Anthrax is a disease caused by the spore-forming bacterium Bacillus, though mostly affects livestock like cattle, sheep, and goats but can also infect people who come into contact with infected people or contaminated animal products like meat, wool, or skins. Anthrax that spreads via the skin might result through open wounds or contact with contaminated objects, while anthrax that spreads through the air can happen when spores are inhaled.

According to the statement, Nigerians are enjoined to “immediately report cases of animals bleeding from body openings to veterinary authorities, or agriculture extension workers.”

“The blood of an anthrax-infected animal does not clot. Do not process or move the dead or sick animal, quickly report to your veterinary doctor or veterinary authorities at the ministry of agriculture in your state,” th statement added.

Delta State Governor, Rt. Hon. Sheriff Oborevwori, on Monday, visited the family of two-year-old Ivan Omorhiakogbe, who was killed by stray bullets from operatives of the National Drug Law Enforcement Agency (NDLEA) in the Okpanam area of the State capital on Thursday, 13th July.

Oborevwori visited the family at the Federal Medical Centre, Asaba, where the younger sibling, Eromonsele, a one-year-old, is receiving treatment for bullet injuries sustained in his left eye.

He expressed condolences to the family on the unfortunate demise of Ivan and promised that all efforts would be made to bring the culprits to justice.

The Governor stated that the Police were already investigating the matter and would make their findings known to the general public at the conclusion of the inquiry.

Oborevwori said: “Upon hearing the unfortunate news, we immediately issued a statement urging the NDLEA authorities and the Police Command to swiftly investigate the circumstances that led to the death of your son and injury to his younger sibling.

“On behalf of the Government and people of Delta State, we extend our heartfelt sympathies to you and your family over the loss of your son, Ivan.

“We have great confidence in the police, and as you know, they are conducting their investigation. They will not make the outcome public until they have completed their investigations. So rest assured that the culprits will be held accountable.

“Once again, I commiserate with your family for this loss, and I am happy that Eromonsele is recovering,” he said.

He commended the medical personnel at the hospital for their proactive treatment of the younger sibling, assuring that the State Government would cover all the medical expenses related to the incident.

“Let me also express appreciation to the Federal Medical Centre, Asaba for the proactive action they have taken so far since the incident occurred.

“I had sent people here earlier to find out what they are doing, and I am pleased that they were able to save Eromonsele’s life, and I believe he will recover fully.

“The State Government will cover the costs of the hospital treatment, so the family should not worry about expenses,” Governor Oborevwori directed.

Also speaking, the State Commissioner of Police, CP Wale Abass, assured the Governor and the family of the Command’s commitment to ensuring a thorough investigation into the matter.

“Your Excellency, we will do our best to unravel the mystery behind the whole incident. We have contacted the NDLEA, and they have responded. In due course, we will release a report to the public.

“Once again, we sympathize with you, and we pray that God Almighty will grant you the strength to bear this irreparable loss.

“For Eromonsele, we pray that God will lay His healing hands upon him for a full recovery,” CP Abass said.

In a briefing to the Governor earlier, the Head of the Ophthalmology Department at the hospital, Dr Ernest Ogbedo, stated that they have successfully covered the eye to prevent infections from entering. He added that further surgeries would be conducted on the eye.

“We have performed one surgery, but the child will require additional surgeries because there is an eye injury that the doctors have addressed and covered.

“We conducted an X-ray, and fortunately, there were no bullet fragments present. However, we will conduct further investigations to assess the extent of the injury.

“We have successfully covered the eye to prevent infections and other diseases,” Dr Ogbedo said.

There are strong indications the Federal Government may consider the request by power distribution companies for a review of their tariff, as the government spending on electricity subsidy has risen to N2.8tn.

A new report by the Nigerian Electricity Regulatory Commission, obtained by our correspondent in Abuja on Sunday, indicated that past hikes in electricity tariffs by Discos saved the government from paying additional N1tn in subsidy to power firms annually.

The July 2023 NERC report was titled, ‘Overview of the Nigeria Electricity Supply Industry.’

Providing an update on the country’s tariff review journey, the commission stated that “between January 2020 and January 2023, tariff increased from 55 per cent of cost recovery to 94 per cent.

It added, “Without the tariff reviews that commenced in 2019, subsidies payable by the government would have grown to about N1tn per annum by 2023. Service-Based Tariff was instrumental in the transition to cost-reflective levels.”

On subsidy payable, the NERC stated that subsidy (tariff shortfall) paid by the Federal Government between 2015 and 2022 rose to N2.8tn in December last year.

It added that between January and April this year, subsidy on electricity gulped N57bn, adding that the Service-Based Tariff scheme help in reducing the amount spent by the government on power subsidies.

“Annual subsidy reduced from N528bn in 2019 to N144bn in 2022. Subsidy in 2023 year-to-date (January to April 2023) stood at N57bn.

“Service-Based Tariff was instrumental to the reduction of tariff subsidy. The financial burden of tariff subsidies between 2015 and 2022 stood at NGN2.8tn,” the NERC stated.

The yearly hikes in power tariffs by the Federal Government through the NERC have been targeted at ending subsidies on electricity.

On Friday The PUNCH reported that the 11 power distribution companies in Nigeria had applied for the review of electricity tariffs so as to incorporate the changes in Nigeria’s macroeconomic parameters.

The report stated that the NERC disclosed this in a notice, as it said the Discos stated that their reasons for the rate review were premised on factors affecting the quality of service, operations and sustainability of the companies.

Meanwhile, some power distribution companies had announced on Sunday, June 25, 2023, that there would be a hike in tariff, projected to take effect from July 1, 2023.

The Discos, however, backtracked the next day after widespread criticisms, as they stated that the Nigerian Electricity Regulatory Commission had yet to approve the hike.

The development caused apprehension among power users at the time, as many prepaid consumers rushed to buy more electricity units in their meters, while anticipating a possible hike in tariff.

It was, however, observed on Saturday, being July 1, 2023, that the Discos did not raise the tariff, an indication that they had yet to get the approval of the power sector regulator.

But in the regulator’s notice, as contained in The PUNCH’s report on Friday, it said, “Pursuant to Section 116 (1) and 2(a&b) of the Electricity Act 2023 and other extant rules, the 11 successor electricity distribution companies have filed an application for rate review with the Nigerian Electricity Regulatory Commission.

“The request for rate review is premised on the need to incorporate changes in macroeconomic parameters and other factors affecting the quality of service, operations and sustainability of the companies.”

However, speaking on the requests by Discos for tariff, on Sunday, a senior official at the NERC stated that the commission would ask the power firms to further state why they were bent on having a hike in tariff during the proposed meeting.

“If you study their (Discos) Performance Improvement Plan, the number of transformers they are supposed to buy, did they buy it? And what is the justification for this increase they are asking for?

“How many transformers, lines, meters, etc, are they bringing on? How many customers are they going to migrate from four hours to eight hours, from eight hours to 10 hours, etc?

“These are the justification for rate increase. Although they may likely argue about the increase in foreign exchange rates, but they should know that the price of gas has reduced.

“So, they will need to let us know some of these things,” the NERC official, who pleaded not to be named, due to lack of authorisation, stated.

In the notice published on the NERC website, the commission invited “the general public for comments on the rate review applications by the distribution licensees.”

It stated that “interested stakeholders are advised to review and take into consideration the excerpts of the rate review applications filed with the commission by the respective licensees.”

‘Subsidies should stop’

Commenting on the development, energy economists stated that it was high time that all forms of subsidy on energy energy were stopped by the Federal Government.

“Energy is holistic. It is not like what we have done in the past, which is to treat petroleum and oil as very different from electricity, and to talk about energy and power and not talk about it in a holistic sense.

“So any country that is successful in this area is dealing with energy as a whole and recognising that the hydrocarbons are so useful and important because they are sources of energy.

“So when talking about electricity and trying to divorce it from the rest, you’re going to fail,” the President, Nigeria Association for Energy Economics, Prof. Yinka Omorogbe, stated.

She explained that electricity should not be treated like an elite product, stressing that it served as a commodity for everyone in any country, adding that “everybody has a right to electricity.

Consumers oppose hike

However, power consumers said they were opposed to any move by the government or Discos to hike tariffs, stressing that subsidy on electricity should remain, since subsidy on Premium Motor Spirit, popularly called petrol, was removed in May.

“Nigerians have not been able to cope with the fuel subsidy removal that was done recently and you are talking of power tariff review. Petrol sells for N540/litre in Abuja. It sells for N600 and above in parts of Calabar, Rivers and Bayelsa, and you talking about power tariff hike?

“Nobody is comfortable. Nigerians are not comfortable. Nobody will accept this kind of rise in energy cost. If the Federal Government will re-introduce the policy of paying the market shortfalls, then it will be better for consumers.

“Because if they go the way they are going, it will be disastrous, for we heard that some Discos are asking for as high as N300 per unit of electricity,” the National Secretary, Nigeria Electricity Consumer Advocacy Network, Uket Obonga, told our correspondent.

He said though tariff review should be based on the service delivered to consumers, the Discos were neither delivering nor implementing capital projects as they promised.

Obonga said, “The NERC that is now going about sending notices, does it have a mechanism in place to measure the hours of electricity supplied by the Discos? How do they measure it? Apart from that, when you say Service-Based Tariff, it is not only tied to time, in terms of the number of hours of supply?

“It is equally tied to the quality of electricity supply. Now, who measures the quality of electricity supplied to Nigerians? There is also the issue of CAPEX, capital expenditure. We still have cases where the Discos are no longer involved in metering, rather they push the meters through Meter Asset Provider agents to sell and collect money.

“Their Vesting Contracts on CAPEX and others, are they keeping to it? Are you aware that for evey tariff rate there is a percentage that goes for CAPEX for the Discos? Are they really executing capital projects?”

The NECAN official went ahead to ask, “Have you seen it in any report of NERC where it is stated clearly that the Discos executed considerable amount of capital projects for which they had earlier demanded for an increase in tariff?

… Nigeria Army most misunderstood- COAS

The Chief of Defence Staff Gen. Christopher Musa said that the Armed Forces of Nigeria (AFN) will apply the lens of people-centricity to key components of activities to truly put the Nigerian people at the centre of its actions geared towards promoting and safeguarding a secure environment for all.

He further said that the AFN will defend the country’s territorial integrity and democracy as well as safeguard internal security and unity to achieve the stability required to guarantee sustainable national development.

Musa stated this on Monday at the Screening of Service Chiefs while he appeared before the House ad-Hoc committee on screening.

He said “I recognize the significance of leading the thousands of devoted and distinguished service men and women to provide a secure and peaceful environment for the Nigerian people to freely engage in their legitimate enterprise in line with the constitutional mandate of the AFN.

“In this regard, the AFN under my leadership will be people-centric by prioritizing and safeguarding our people and their legitimate way of life as prescribed by the Nigerian Constitution.

Speaking on the welfare of the troops, Musa said the troops’ welfare and sound administration will provide the required atmosphere for the AFN to deliver on its constitutional responsibilities. Thus, the AFN will continue to seek ways and means to improve the welfare of its personnel under my watch.

“In this regard, service men and women of the AFN should be reassured of my commitment to their welfare, provision of relevant operational equipment as well as infrastructural development within available resources to enable them to succeed in assigned constitutional roles.

“I shall also promote international military cooperation/ collaboration to further expose and provide capacity building to AEN personnel in joint and combined operations outside the shores of Nigeria. This measure is required to consolidate AFN welfare priorities in order to effectively deploy, fight and win our nation’s wars by providing ready, prompt and sustained land, sea and air dominance by the AFN across traditional as well as asymmetric conflict settings as part of a joint force,” he said.

Speaking also at the screening, the Chief of Army Staff, Major Gen.Taoreed Lagbaja said that the Nigeria Army is the most misunderstood, complex and challenged component of the Nigeria Armed forces.

According to him, security challenges in the last two decades have made governance more challenging, adding that it has disrupted developmental progress in the country.

Lagbaja said “I consider my nomination as a call to higher responsibilities and I am determined not to betray the trust and confidence reposed in me. It is an open secret that our country has faced a challenging security environment in the past two decades. It has impacted adversely on our socio-economic and political lives.

“The episodic crises of the past have now become enduring thereby making governance and the rule of law more challenging for successive administrations.

“Today’s painful reality is that insecurity has distracted our developmental plans and aspirations of a strong, prosperous, globally competitive and influential nation. Never in the recent is the requirement for proactive, adaptive and inclusive leadership more needed than in Nigeria’s security environment of today.

” These requirements are what I intend to do as COAS if confirmed. I am mindful that the Nigerian Army, which I am being screened to lead is a crucial component of our military instrument of national power. It is not only the largest, but the most complex, most geographically spread, most sought after during crisis and often most misunderstood.

“I believe that for the Nigerian Army to grapple with the demands of the contemporary security environment, it would consistently transform to be a step ahead of its time.

“For this reason, I conceptualize my philosophy of command as to transform the Nigerian Army into a well-trained, equipped and highly motivated force towards achieving our constitutional responsibilities within a joint environment. I intend to partner with the National Assembly and other stakeholders in achieving this command philosophy,” he added.

Speaking earlier at the meeting, the chairman of the committee, Hon. Babajimi Benson said for more than sixteen years, Nigeria has witnessed diverse and unprecedented level of insecurity in which the Armed Forces of Nigeria have been fully involved prompting the launch of several theatres of operations and exercises as well as providing support for tackling several domestic security challenges.

“The House of Representatives is delighted with the successes recorded so far, especially in the last one year. We acknowledge these robust achievements which is a proof of the level of professionalism often displayed by our military in the discharge of their duties. We urge you to effectively collaborate with sister security agencies to ensure that all security threats are completely neutralised, and Nigerians can live peacefully.

“The world of security is dynamic and ever-changing. New security threats are emerging across the globe. Today, wars are not only fought on land, sea and air but also in cyberspace.

” Consequently, the art of warfare must therefore be a step ahead. This is why Nigeria must tap into and harness the potential of having a Defence Space Force, like in the United States of America. While acknowledging the immense contributions of the Defence Space Administration (DSA), there is a need for a full-fledged Defence Space Force to adequately handle potential threats from cyberspace and provide intelligence support to other services.

Tasking the nominees on their task, Benson stated that the role of securing the lives and property of Nigerians is the collective task of the Armed forces

Benson further stated that the 10th House of Representatives is keenly committed to providing the necessary legislative framework to the current government in its quest to ensure that Nigerians live in peace.

“We must therefore work collectively to deliver more on the goals of this administration to drastically reduce cases of insecurity across the country.

” While the House will continue to support this vision through our legislative activities, we shall also embark on rigorous oversight exercises, beginning from this screening, to ensure that the Armed Forces of Nigeria adhere strictly to the provisions of all Appropriation Acts as will be eventually passed by the National Assembly and accented to by Mr President.

He, therefore, urged the nominees to cooperate with the National Assembly while performing their constitutional duties of ensuring a peaceful, secure and prosperous country for all Nigerians.

The meeting afterwards went into a closed door.

Troops of 192 Battalion, Nigerian Army, operating in 81 Division Area of responsibility have busted an international ammunition smuggling syndicate, while transporting a truck-load of ammunition to Anambra State on Saturday, July 15.

The troops, who acted on actionable intelligence, conducted a stop-and-search operation along Ajilete-Owode Road in Yewa North Local Government Area of Ogun State and uncovered the illegal ammunition in a truck with number plates ENU 697 XY.

The truck was loaded with 720 packets of (red) cartridges of 12 calibre, containing 25 cartridges per packet. The total comes to 18,000 cartridges.

There was also additional 250 packets of live (black) cartridges containing 10 packets each, totalling 2,500 cartridges of same calibre.

The suspects, identified as Mr. Eric Seworvor, a Ghanaian, and the driver, Mr. Lukman Sani, have been taken into custody and are helping with ongoing investigations.

Information gathered during preliminary investigation revealed that the ammunition, which were surreptitiously concealed in a supposed empty truck, were imported from Mali, via Idiroko border.

A statement by Brig.-Gen. Onyema Nwachukwu, Director of Army Public Relations said: “The criminals had successfully beaten several other checkpoints en route their final destination in Onitsha, Anambra State, where they intended to deliver the illegal ammunition.

“The timely intervention by the vigilant troops, however, thwarted the chaos that such volume of ammunition would have unleashed on innocent members of the public, if the criminals had succeeded.

“The Nigerian Army, therefore, appeals to all law-abiding citizens to continue to support the troops and other security agencies with credible and actionable information, as they combat security challenges across the country.

“The Chief of Army Staff, Major General Taoreed Lagbaja, has commended the troops for their commitment and urged them not to relent as they strive in synergy with other services and security agencies to provide safe and secure atmosphere for all Nigerians and the socio-economic development across the country.”

Below are more photos of the seizure:

At the backdrop of sustained supply gap in Nigeria’s foreign exchange (forex) market, the local currency, Naira, has hit a new low at the weekend, trading N803.9 to a dollar in the Investors & Exporters (I&E) window which is the official forex market and N822/$ in the parallel market.

Financial Vanguard’s findings indicated a 6.6 per cent decline in volume of dollars traded in the I&E window as dealers said they were disappointed that the increase in supply they expected last week did not materialize.

A week-on-week trend in the parallel market shows a 5.5 percent depreciation to N822/$ as against N779/$ closing rate previous week.

In the I&E window, the local currency depreciated 3.9 percent W-o-W to N803.9/$ from N776.9/$ the previous Friday.

Financial Vanguard currency monitor shows that after the initial massive depreciation on June 14th, 2023 when the Central Bank of Nigeria, CBN, introduced reforms in the market, exchange rate had remained volatile with daily fluctuations until the record low was hit last weekend.

The reform majorly eliminated multiple exchange rates and reintroduced the ‘Willing Buyer Willing Seller’ market model in the I&E window.

Since the new measures were introduced, the Naira has depreciated cumulatively in the I&E window and parallel market by 70 per cent (N321.23) and 7.0 per cent (N58) respectively.

Meanwhile last week’s closing rate also indicated that the parallel market margin that narrowed to almost elimination following the new policy has started widening.

While the measures announced by CBN was aimed at increasing transparency and boosting confidence in order to attract increased forex supply, forex market operators who spoke to Financial Vanguard said the expected increase in supply is yet to materialize, adding that this, coupled with rising demand, and hoarding, are the factors driving the renewed depreciation of the naira in both segments of the forex market.

Dealers lament

Speaking to Financial Vanguard, Mr. Ahmed Danjuma, a parallel market operator in Lagos Island, said: “I bought a dollar for N810 and sold for N819 and N820.

“People are demanding for the dollar. It is not easy to get dollars from the bank because it is very scarce.

“When you have access to dollars the way buyers demand for the currency is like when you take food to the prison.

“The supply is very low. Even Bureau De Changes have little access to the foreign currency.”

Similarly, Mr. Umoru Mohammed, a parallel market operator at Ikotun area of Lagos, said: “Dollar was very scarce today (last Friday) as we could hardly have access to it even from the banks.

“Every day the demand for dollars increases but the supply is very little. This is really hindering business especially for transactions requiring dollars.”

President, Association of Bureaux De Change Operators of Nigeria, ABCON, Aminu Gwadabe, in a chat with Financial Vanguard on the situation, stated: “The situation is tough, it even traded at N822 in some segments today (last Friday).

“You know now the restrictions have been removed, there is also competition and surge in demand. Most people are still holding assets in dollars, and we have not seen significant inflows even from the side of the investors.”

Turnover, external reserves fall

Reflecting the paucity of forex supply amidst rising demand, the volume of dollars traded (turnover) in the I&E window fell by 6.6 per cent or $57.06 million to $807.92 million in the first half of July, from $864.98 million in the corresponding period in June.

Following the same trend, the nation’s external reserves fell by $646 million or 1.9% in one month ending July 13th. Data from the CBN showed that the reserves fell to $34.047 billion on July 13th, from $34.693 billion on June 13th.

Analysts’ insight

To reverse this trend and achieve the expected increased forex inflow, analysts said the CBN must introduce further reforms including removing forex restriction on 43 items and incorporating BDCs into the I&E window as well as clearing the forex demand backlog.

In this regard, Managing Director/CEO Financial Derivatives Company, Mr. Bismarck Rewane, in his Monthly Economic News and Views, said: “In the short term the CBN must tighten monetary conditions, eliminate forex restrictions (Ban on 43 items on the I & E window) and move effective interest rates towards the rate of inflation.”

The above, he added, ”must be complemented in the long term with export-oriented policies, elimination of structural bottlenecks that constrain production and export activities”

In the same vein, analysts at Lagos based CardinalStone Research, in their outlook for H2’23, said: “While the current policy reforms bode well for foreign providers of capital, additional investments into the country will also be partly dependent on the following: 1) the willingness of the CBN to clear existing backlogs, which is estimated at $2.5 – $3.0 billion; 2) the FX market reflects a genuine “willing buyers and willing sellers” structure and supply begins to improve notably. If the 2 highlighted points are achieved, we see legroom for a surge in foreign inflows from the multi-year lows of $5.3 billion in 2022 to about $12 billion over the next one year.”

On this Gwadabe averred that the CBN must increase participation in the official market to include BDC who can play the moderating role needed to stabilise the market.

“The trend will continue except if there is a turnaround, and there are changes in the I&E to bring in more players like BDCs to enhance competition. Once you have competition there will be stability, there will be availability

“They need to wear their thinking cap, because it is like the CBN is not in control of the market, it is the FMDQ. “We are still appealing to the CBN to include BDCs in order to increase liquidity, transparency, and ensure we stop the volatility in the market competition.”

Corroborating this position, a former top management staff of the CBN, who spoke on condition of anonymity said: “We must find a way out to stabilise the exchange rate and still keep the third leg (BDC) as part of the moderator of the market.

“We must eliminate abuses, corrupt practices and police the market for sustainability. We also need to restructure the BDC to trade in the market and not by allocation to moderate the rates.”

According to analysts at Cowry Assets Management Limited, “The Naira hit a new low in 2023 in the face of pressure demand for the dollar across various forex segments as forex demand and supply mismatch continue to play as an underlying driver with more backlog of unmet forex demand.”

The candidate of the Labour Party in the February 25th presidential elections, Peter Obi, has stated that he will not be marking his 62nd birthday anniversary on Wednesday, 19th July, 2023 over the state of Nigeria.

Obi in a series of tweets posted on his verified Twitter handle on Monday urged his family, friends and members of the Obidient movement to donate whatever gift they have for him to hospitals, orphanages, and homes for the aged and people with disabilities.

He added that, on his birthday, he plans to raise money for schools and hospitals while spending his time and resources with ‘less fortunate’ people around him.

The LP candidate maintained that Nigerian leaders must lead by example and make sacrifices for the betterment of the country.

“Wednesday 19th July 2023, marks my 62nd Birthday. While I remain immensely grateful to God for His infinite mercies, I still maintain my decision of over 20 years, that I will not celebrate my birthdays in today’s Nigeria, with the current deplorable state of the nation.

“Let me humbly and respectfully appeal to all those who desire to celebrate me with any kind of gifts, to look around them and extend such gifts to the people in need, especially in these difficult times.

“Those who wish to do more can visit various IDP camps in different parts of the country. I intend to do the same thing. Aside from sharing my time and resources with the less fortunate people around me, I plan to raise money for schools, hospitals, etc.

“I have already said that the sacrifices for a better Nigeria must now start from us, the leaders and the well-placed. The state of our nation must give us cause to pause and ponder. There is far too much insecurity, violence, and bloodshed.

“I want to celebrate in a Nigeria that works for all and which Nigerians can be proud of. This, and not my birthday, is the true celebration that will be beneficial to all Nigerians,” he said.