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Electoral body to name ‘No election’ areas

Electoral body to name ‘No election’ areas

The Independent National Electoral Commission (INEC) yesterday
denied that specific states will miss Saturday’s National Assembly due to
ballot paper issues, saying the commission will be certain of the affected
areas after an ongoing assessment ending Thursday.

Officials said the announcement specifying the areas affected,
which the Chief Press Secretary, Kayode Idowu, had earlier said will be “few”,
will be made by the commission’s chairman, Attahiru Jega on Thursday, two days
before the rescheduled elections on Saturday.

Mr Idowu said the position will be clear after an internal audit
of the materials deployed on Saturday which will enable the commission to be
certain of the extent of the errors recorded on the ballot papers, and where
there are needs of reprint.

“It may not even be states or local governments, but it may be
mere wards, just a few places,” he said yesterday.

The situation ahead of the shifted election nationwide remained
unclear yesterday after a prolonged meeting between Mr Jega and the 36 Resident
Electoral Commissioners (REC) in Abuja which lasted for more than seven hours.

Chairman shuns conference

Mr Jega shunned a press conference earlier billed to hold after
the meeting with the RECs late in the evening, amid a waft of speculations
spreading from an overhaul of the states’ logistics mechanism, to allegations
that he again offered to resign. His aides denied any of such came up at the
meeting. “We do not respond to rumours,” said Mr Idowu.

The commission’s Director of Public Affairs, Emmanuel Umenger,
and Mr Idowu, said Mr Jega took “far reaching” decisions at the meeting with
the RECs, issuing fresh directives particularly on logistics and transportation
plans for the elections.

A review of the process of last Saturday, when massive shortage
of materials forced a postponement of the election, was made and each REC was
asked to present a report, they said.

They added that Mr Jega delayed an address after the meeting to
allow for the completion of certain directives on the RECs who will deliver a
feedback before Thursday. However, staff conversant with the discussions at the
meeting, said the delay was to conclude the assessment of the materials to
allow the commission to be certain on the areas where elections will not hold
on Saturday.

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Ogun governor denies political alliance with Tinubu

Ogun governor denies political alliance with Tinubu

Ogun State governor, Gbenga Daniel yesterday denied any
agreement with former Lagos state governor, Bola Ahmed Tinubu to work for the
victory of the Action Congress of Nigeria {ACN} in the upcoming election as a
way to give him {Daniel} soft landing at the expiration of his tenure.

Mr. Daniel, who reacted through his Commissioner for
Information and Orientation, Sina Kawonise said reports that the governor
recently had a meeting with Mr. Tinubu is ‘absolute falsehood’. “The truth is
that both Daniel and Tinubu have not had any meeting together in the last few
years. As such, any claim that Daniel met Tinubu to reach an accord between the
Peoples Party of Nigeria (PPN) and the Action Congress of Nigeria (ACN) to work
together in the forthcoming election is false in its entirety,” Mr. Kawonise
said.

Desperate propaganda

The state official also said the claim of the meeting is a
propaganda by desperate politicians in the state to cause confusion and deceive
people in order to sway their votes He called on voters not to be deceived into
voting for the wrong party. Mr Daniel, although nominally a member of the PDP,
has been campaigning for the PPN, on which platform his candidates are running
for office after they were rejected by the PDP. ‘‘Gbenga Daniel therefore urges
voters in Ogun State, who trooped out last Saturday to vote for PPN and its
candidates, to do so again on Saturday and ensure the continuity of good
governance, progress and a better future for our children,” he said”. the
release emphasized.

Meanwhile, a group of young professionals in the state, Light
To Nigeria Group {LNG}, yesterday called on the national chairman of
Independent National Electoral Commission {INEC}, Attahiru Jega to distance
himself from politicians as the elections draw nearer. ‘‘This is national
assignment, don’t misuse the power, you have to be faithful to the nation and
not to any individual or group,’ the group said. The group also called on the
INEC Chairman to properly monitor his subordinates at the state level so that
they don’t derail the plan for free elections that would usher in credible
leaders.

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‘I cannot guarantee Fayose’s security’

‘I cannot guarantee Fayose’s security’

The Chairman of the Ado Ekiti Local Government Area, Sunday
Ibitoye, has declared that the security of a former governor of Ekiti State,
Ayodele Fayose, can no longer be guaranteed in the state.

Mr Ibitoye, a member of the Action Congress of Nigeria (ACN),
said Mr Fayose has provoked the indigenes by his inciting statements against
the traditional council of Ado Ekiti.

Briefing newsmen in Ado Ekiti yesterday on the statement
allegedly made on a radio station, Mr Ibitoye said it was wrong for the former
governor to be inciting the non-indigenes against the traditional chiefs in the
name of politics Acting on the information that some Ado Ekiti chiefs were
moving round farms and allegedly threatening the Ebiras, Tivs and Igedes living
in the farms that they would be banished from Ado Ekiti if they voted for
Fayose during Saturday’s senatorial election, the former governor was said to
have told the non-indigenes to disgrace whoever spreads such information in
their domains.

Fayose lashes out

Mr Fayose on the live programme was said to have told the
non-indigenes in the state to vote for candidates of their choice, saying
nobody under the law has the power to banish any other Nigerian.

The statement, according to Mr Ibitoye, was unfortunate and
provocative, which he said was capable of heating up the polity and degrading
the respect for the traditional ruler of Ado Ekiti, Rufus Adeyemo Adejugbe “The
provocative statement is highly unfortunate and condemnable. We condemn it in
its entirety. It has provoked the indigenes of Ado Ekiti. So, due to this high
level of provocation, I can no longer guarantee the security of the former
Governor in the state capital,” Mr Ibitoye said.

Mr Fayose, who urged his supporters to disregard the statement,
said “I remain a leader in Ekiti more than any personal interest. I have no
reason to disrespect the traditional institution. I want to caution desperate
politicians against blackmailing me for them to have their ways “I have done
enough for Ado Ekiti and up to now, I remain committed to its development. So I
urge politicians to play politics of maturity rather than character
assassination. “For me and Labour Party, we remain law abiding. No party can
wish us away on the politics of this state. So, Mr Sunday Ibitoye is not in
position to guarantee my security. The people are behind me and nothing can change
that “And I want to say that Mr Ibitoye will be held responsible if anything
untoward happens to me and members of my party,” Mr Fayose said.

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Oshiomhole accuses soldiers of intimidation

Oshiomhole accuses soldiers of intimidation

Edo State Governor, Adams Oshiomhole yesterday protested an
alleged inducement of some troops deployed for last Saturday’s election by
leaders of the Peoples Democratic Party (PDP) in Edo State.

Mr Oshiomhole who spoke at a press conference in Benin, said
PDP leaders in the state used the military to arrest and brutalise ACN
supporters during the botched National Assembly election.

“The conduct of the officers and men in various places on
Saturday strongly indicated that their operational order was not to give effect
to Mr President’s resolve to provide adequate security during the elections.
Rather, the Army actively executed the bidding of the PDP, as the various
contingents were deployed to harass ACN leaders and members in order to pave
the way for the rigging of the election,” he said.

“PDP thugs, including those hired from neighbouring states wore
special red and yellow arm bands, which became symbols of immunity even in the
face of the premeditated violence they unleashed. The pre-agreed colours
allowed PDP thugs easy passage.” He alleged that military men deployed to the
state, who were supposed to provide security for the elections, turned out to
be tools of intimidation and harassment of innocent citizens on the orders of
PDP chieftains in the state.

Fair to all

He said even though he supported the deployment of the military
as a way of ensuring credible polls, it was unacceptable for the security
outfit to become a willing tool in the hands of members of the ruling party to
harass innocent citizens.

The governor further alleged that the PDP leaders had boasted
openly about their resolve to use both retired and serving military officers
during the elections in Edo South senatorial district.

“We do not believe that this criminal subversion of the Nigeria Army is
being perpetrated to the knowledge of Mr President. This is why we are compelled
to draw President Jonathan’s attention to this attempt to use the army to
soften the ground for the PDP to rig the elections,” he said. “We plead that
the Commander-in-Chief should strongly prevail on the Nigerian Army to be
neutral and to appreciate that it is a national institution. We also plead that
Mr President should call the Inspector General of Police to order and prevail
on him to detest on subverting the neutrality of the Force by taking orders
from PDP bigwigs in the Presidency.” Mr Oshiomhole however restated his
“concurrence with the need to deploy the Nigeria Army to help ensure free and
fair elections.”

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Court to rule on case against Akwa-Ibom opposition candidate

Court to rule on case against Akwa-Ibom opposition candidate

The judge sitting over the case of arson and murder brought
against the Akwa Ibom Action Congree of Nigeria (ACN) gubernatorial candidate,
John Akpanudoedehe, Edet Obot said Tuesday he will rule on the case on
Wednesday. He said the poor lighting system in the court made it difficult for
him to give the ruling in the case.

Mr. Obot had waited for the arraignment of Mr. Akpanudoedehe
for hours after he was supposed to be brought in for trial. The magistrate had
arrived at the court premises early in the morning but information remained
hazy on whether the case would still be heard, as the court does not sit after
midday. Lawyers, ACN supporters and the crowd of people that had thronged the
court were seen leaving the court premises after waiting for some time.

Sources had informed NEXT that Mr. Akpanudoedehe and his
lawyers were still at the police headquarters, located at Ikot Akpannabia, and
that the delay was a strategy meant to check Mr. Akpanudoedehe’s supporters and
forestall any uprising. Security personnel were seen patrolling Uyo since the
morning hours while people entering the court premises were subjected to
extensive security checks.

Intimidation and arrest

Lead counsel Adeniyi Akintola and 28 others who stood in for
Mr. Akpanudoedehe criticised the intimidation, arrest and detention of their
client by the police and the state government saying he was supposed to be
provided with security as a governorship candidate. He condemned the fact that
the state criminal law was amended on March 31, 2011 when the offence for which
his client is being accused happened on March 22, 2011, adding that that was
not only a violation of the law but an intent to implicate Mr. Akpanudoedehe
unconstitutionally. He said the court had no jurisdiction to handle the charges
of murder and arson according to subsection 1, paragraphs a-d of the Akwa Ibom
State Criminal Law cap. 315.

“A law to amend criminal proceeding was sent to the state House
of Assembly on March 31, 2011 and made to deliberate on and passed. They never
investigated the alibi of my client. He was at Ikot Ekpene that day
campaigning, he was not around.” Prosecuting counsel, Raphael Nkem, however
deferred, saying the provisions as contained in the state law was appropriate
for the determination of the offence.

Mr. Akpanudoedehe was granted bail by the Federal High Court in
Abuja on March 31. Shortly after he met his bail conditions, the police
rearrested him on the court premises, without giving reason for their action.

Mr. Akpanudoedehe has, meanwhile, been in the custody of the
state CID.

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ENVIRONMENTAL FOCUS: Life as a child under colonial rule (II)

ENVIRONMENTAL FOCUS: Life as a child under colonial rule (II)

“But they were ready before you!” Snapped my father angrily,
early on March, 6, 1957.

I had innocently asked: “But Dad, why did the Gold Coast get
independence before us?” There are two tiny sovereign nations, Benin and Togo,
hanging like strips of spaghetti on the map between Ghana and Nigeria. Yet,
Nigerians feel their real neighbours are Ghana. A bonding factor of colonial
experience in the way we relate to other nationals is pervasive. So, we compare
and measure ourselves with Ghana all the time – in politics and economics,
football and highlife music, education and fashion, cocoa and now oil. Luckily,
it has been healthy rivalry tinged with mutual respect, unlike the state of
affairs with our brothers to the east. Nigeria and Cameroon nearly went to war
over the Bakassi peninsula, even though ethnographically, we are closer to
Cameroon than to Ghana.

I sometimes ask what matrix or criteria are used in measuring
the Ghana-Nigeria competition, but all I hear is a savage rebuke: “Go to Ghana
and see!” Clearly, we live in a comparative world. Physics, biology, geography
and many more subjects have their comparative modules. Every life process is
compared with the other. Yet, in most cases, there is no linearity, no
parameter applied in arriving at judgmental conclusions. Our world subsists on
subjectivity, parochialism, unnecessary competition and naked prejudice.

Meeting the Queen

James Robertson replaced John Macpherson at the Marina as the
ruler of Nigeria, and had the honour of welcoming Queen Elizabeth II to Lagos.
I’ve never seen a human with a head as massive as the new governor-general’s.
He looked like an ox, and I almost ran away in horror the day he visited our
school.

Queen Elizabeth II stepped out to be confronted by the
regimental band of the Nigerian Army that could not have looked smarter and
more professional. They smashed out God Save the Queen, before advancing
through a series of Prussian martial tunes on to the lilting Blue Bells of
Scotland and the melodious Old Calabar. It was a sunny day. A broad Union Jack,
one of the most beautiful flags in the world, fluttered gracefully in the sea
breeze of Lagos. The impressive Royal Yacht Britannia bobbed and bubbled on
anchor in the murky waters of Lagos harbour.

Elizabeth’s visit in 1956 was not the first by a royal to
Nigeria. Her uncle, Edward, the Prince of Wales, was here for a week in April,
1925. I heard stories about him from my parents that he was handsome. They did
not tell me about the king’s huge appetite for married women. There was genuine
fear in England that he was going to turn Buckingham Palace into a brothel.
Eventually, Edward VIII abdicated in 1936 after just one year on the throne,
when the British government objected to his marrying Wallis Simpson, an American
divorcee. She had two living ex-husbands! My mother thought it was great and
gallant for a king to leave his throne in order to marry the woman he loved. My
father just shrugged and withheld his opinion. I asked to know what a
“divorcee” was, but got slapped down by my parents.

What didn’t we see in the way of automobiles during the Queen’s
visit – Rolls-Royce, Bentley, Armstrong-Siddeley, Austin Princess and Daimler!
A Roll-Royce epitomises everything that imperial splendour and authority
represents – silence, reverence, dignity, austerity and quality. But of all the
cars I saw in colonial Nigeria, none impressed me more than the Humber Super
Snipe.

I’ve not seen one again since 1953. A shame the British car
industry doesn’t exist anymore! In her farewell speech, the embryonic Nigerian
Army was re-christened the Queens’s Own Nigeria Regiment by Elizabeth herself.
They were terrific when it came to ceremonial occasions; the soldiers all the
same height – slim, very dark, with slightly bowed legs. Each soldier looked
like the twin of the subaltern next to him. The regiment, in heavily-starched
Bermuda shorts, marched in step like mechanised toys. Not a single Nigerian
soldier at ceremonial parades in those days had a pot belly balanced on K-legs.

“Regiment,” which insinuates command subsidiarity or a component
of a larger unit, attracted criticism in Nigeria. The army of an independent
Nigeria was not going to be something like the Scottish or Welsh Regiment
within the UK armed forces. So, a change was effected to the Royal Nigeria Army
(RNA) under the last British commander, Major-General Welby-Everard.

I hear it said now and again that the most efficient black
soldier is the one commanded by a white officer? True or false, this naïve
belief could have contributed to the downfall of Nkrumah and Abubakar Tafawa
Balewa. One cardinal error the two men made was to retain their British chiefs
of staff, well into independence.

Despite open warnings from Tawia Adamafio in Ghana and Azikiwe
in Nigeria,

Major-Generals Alexander and Welby-Everard remained in charge of
the Ghana and Nigeria armies until 1961 and 1965 respectively. The two Britons
could not have done a good job. Once they left, the armies rebelled!

Champion of the world

“They said that Bassey has knocked him down! The commentator
said the man has got up! I’m not sure what they’re saying now. Eh-hem, now they
said the man is bleeding from the nose. I think the referee is stopping the
fight!” We didn’t wait for a confirmation, screaming, hugging one another, jumping
about like kangaroos. It had been a live commentary of the live commentary on
the night of June 24, 1957 at Uyo.

Our small, robust radio set was never loud enough. Someone, a
second commentator, had to stick an ear close enough to it for better audio,
and then translate the actual commentary to the rest of us. Over 50 people
crowded around this unreliable radio set on that night at the hall of the TTC,
the Teacher’s Training College.

Nigeria’s Hogan Bassey was fighting Cherif Hamia, the French
Algerian for the Featherweight Championship of the World in Paris. Tears still
well into my eyes today when I recall the Daily Times front-page headline of
the next morning that simply read, “Hogan Bassey, Champion of the World!” The
1950s were the golden period for black people in international sports. To my
generation of Nigerians, sports remain the ethos around which our lives are
built. When, in 1958, I returned from the interview for admission into Umuahia
Government College, my father was waiting anxiously, pacing about like a caged
lion on the platform at Aba Railway Station.

“So, how did it go? What questions did they ask you?” I told him
there were three white men:

the principal, Mr. Wareham; Mr. Wilson and Mr. Garrod. After
they confirmed my name, place and date of birth, Mr. Wareham began seriously,
that he had heard I played cricket, and did I know cricket was played at
Umuahia College? Would I continue to play if admitted? It was like a crown
counsel cross-examining a criminal. I answered the questions timidly, but in
the affirmative. The three men looked at each other, and then asked me to call
the next candidate. It had been such a brief encounter I thought something had
gone wrong, and these white men didn’t want to waste their time with me. On the
short train ride from Umuahia to Aba, I sat somewhat dejected.

“Ahhh,” concluded my father, “then you’ve passed!” How? It was
in 1952, when my father was at University College, London and he sent two
cricket bats, a ball and some linseed oil to condition the bats, through the
district officer of Owerri, Mr. Mann to my brother and me. It resulted from a
letter my mother wrote to him that we used the branches of coconut trees for a
bat, and old tennis balls to play cricket. My brother got into Umuahia in 1954 and
was regular in the first team by 1958. The news about a younger brother, still
in primary school, who could use a cricket bat, had filtered into the school.

I kept a scrap book in which sports clippings from the Daily
Times, the West African Pilot, the overseas Daily Mirror and Illustrated London
News were stuck. There is no doubt in my mind over who qualifies to be the most
celebrated Nigerian footballer of all time – Teslim Balogun! He was, simply,
Thunder Balogun to everyone and for a striker to bear such a frightening name
speaks volumes of his exploits, and how goal-keepers must have suffered.

Three important landmark records made the 1950s memorable for me: that West
Indian side with Frank Worrell, Everton Weekes and Clyde Walcott beat England
in a cricket test series, winning at Lords, the cricket citadel; Brazil won the
football Jules Rimet trophy ( the FIFA World Cup) in 1958. There were black
players in their team – Pele, Didi, Djalma Santos and Garrincha. In the same
year, the West Indian, Garry Sobers set a world batting record of 365 not out
against Pakistan. It was a wonderful decade!

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Africa receives $40bn in remittances in 2010

Africa receives $40bn in remittances in 2010

African immigrants sent home over $40 billion (N6 trillion) in
remittances last year, according to a new joint report by the World Bank and
African Development Bank. This figure is down from $41 billion in 2008 and just
over US$38 million in 2009, according to a similar report last year.

The report which cover remittances from OECD ( Organisation for
Economic Co-operation and Development comprising Eastern and Western Europe,
advanced Asian and South American economies) countries and transfers from other
African countries such as South Africa, also shows the pattern of disbursement
of these transfer of funds. “Data from household surveys reveal that households
receiving international remittances from OECD countries have been making
productive investments in land, housing, businesses, farm improvements,
agricultural equipment, and so on.” It added that many migrants transfer funds
to households in origin countries for the purpose of investment. Thirty six
percent in Burkina Faso, 55 percent in Kenya, 57 percent in Nigeria, 15 percent
in Senegal, and 20 percent in Uganda.

Investing significantly

According to the report, “households receiving transfers from
other African countries are also investing a significant share in business
activities, housing, and other investments in Kenya (47 percent), Nigeria (40
percent), Uganda (19.3 percent), and Burkina Faso (19.0 percent).” Education
was the second-highest use of remittances from outside Africa into Nigeria and
Uganda, the third highest into Burkina Faso, and the fourth highest into Kenya.

The report titled, ‘Leveraging Migration for Africa:
Remittances, Skills, and Investments’ added that the annual estimated saving,
usually held in foreign countries, by Africans exceeds $50 billion. “African
governments need to strengthen ties between Diaspora and home countries,
protect migrants, and expand competition in remittance markets,” said Dilip
Ratha, main author of the report and lead economist at the World Bank.
“Otherwise, the potential of migration for Africa remains largely untapped.”
The World Bank said African countries should begin to consider issuing Diaspora
bonds, which are sold by governments or private companies to nationals living
abroad, a concept that has been utilised in tapping into assets of Israeli and
Indian citizens living abroad.

The report estimates that Nigerian emigrants save about $3.5
billion annually, as at 2009, a figure which represents about 2 per cent of the
country’s gross domestic product. “Most of these savings are invested in the
host countries of the Diaspora. It is plausible that a fraction of these
savings could be attracted as investment in Africa if African countries
designed proper instruments and incentives,” the report added.

Diaspora bonds

According to Ratha¸ Sub-Saharan African countries can
potentially raise $5-$10 billion a year in Diaspora bonds. Countries with large
diasporas in high-income countries that can potentially issue its bonds include
Ethiopia, Ghana, Kenya, Liberia, Nigeria, Senegal, Uganda, and Zambia in
Sub-Saharan Africa and Egypt, Morocco, and Tunisia in North Africa.

“Diaspora bonds can be sold globally through national and
international banks and money transfer companies. They can be marketed through
churches, community groups, ethnic newspapers, stores, and hometown
associations in countries and cities where large numbers of migrants reside.”
Ronan McCaughey of the Laferty Group, a United Kingdom-based financial research
and advisory services firm, said remittances are important determinants of
growth in West African countries. ‘‘Especially in construction and real estate,
and are a major source of household income and financing,” he said in an email
response.

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‘Nigeria spent N300bn on technology transfer agreements in 10 years’

‘Nigeria spent N300bn on technology transfer agreements in 10 years’

In this interview, the director general of the National Office
for Technology Acquisition and Promotion (NOTAP), says billions of naira are
spent annually not only on imports but also on technology transfer agreements,
adding that indigenous technologies can be veritable job creation tools.
Excerpts:

Educational institutions
should give Nigeria better technologies

No country that is modern, productive and has got visibility
that is not strong in science and technology. Nigeria cannot be different. All
the classification you have like first world, second, third world countries or
least developing countries is actually geared on the energy of science and
technology. Poor countries are those that cannot utilise their mental capacity
to take advantage of the opportunities available to them.

In our hospitals most medicines are imported, the equipment are
imported; in the banking sector most of our software is foreign software from
Oracle, Microsoft, Finacle and based on the work of others. Also if you look at
our industries, nearly one hundred per cent of the facilities, the machinery,
the know-how, the processes are all based on foreign technology. Therefore, it
is important for us to ensure that internally too, we domesticate these things.

We have the knowledge
infrastructure

Nigeria has a lot of universities, about 104 universities, 125
polytechnics and 500 research, development and implementation institutions at
federal government level, alone with over 100 colleges of education, yet we do
not have the technological capacity to drive our industries. We are not able to
feed our country with our own rice. We have land; we have water but do not have
the technology to produce our own rice. Even if we have, we are not using the
skill and know-how we need to look at our own herbs medicinal roots and process
it to drugs is what we do not have. So this office (NOTAP) is the one that
looks at all these.

If you open your gate as a country for people to bring in their
technology, money and know-how to come and make more money in your country and
depart, you are not doing well. What you should do is to use a magnate to
capture their technology and managerial know how and be made better. The
graduates from our institutions are those magnates, but if the magnates are bad
what can we do? So the education system has to push it. By now it should be Nigerians
exploring our oil, designing our refineries. By now we should not allow one
drop of crude to leave; let us refine them in this country. That is where the
jobs are but we are not taking this opportunity. NOTAP tries to reduce the gap
between our industries and our knowledge system. As we speak now, the gap is
too wide. Industry is looking at a different direction; hardly will you go to
our industries and see they are employing PhD holders. Here we are on the
consuming mode, consuming the research and output of other people. We have to
reverse.

NOTAP-Industry Research
Fund

NOTAP has this year made it absolutely clear to industries that
every industry operating in Nigeria, local, multinational, enterprises having a
fair amount of shareholding by foreigners must also have the interest of
Nigeria technologically. And therefore, I am happy to report to you that after
the conference we had in Lagos with manufacturing industries, we have decided
to establish NOTAP-Industry research fund. This is fund whereby industries will
now contribute money into so that we can use it to train PhDs. We believe that
is the innovative population that we need: practical, highly skilled manpower
for Nigeria, so that we too can start looking at technology we require to move
our country forward.

I have gotten commitment of about N200 million. With this we can
train more than 400 PhD holders. We are targeting first class honours that will
research in areas that are important to industries. Contributions have started coming
gradually. Secondly, for every manufacturing company that we are working with,
we have also an attempt to narrow the gap between the industry and the academia
and launched what we called Industry Educational Technology Programme. One of
the things we would do on this is to go to an industry, understudy what they do
and then produce a process graphics.

For example, we all eat Maggi from Nestle but do not know what
it is made of. The major ingredient for Maggi is soya beans. Our children know
soya beans, on the other side they see Maggi but do not know the link so we
told Nestle (Maggi producers) to give us the process pictorially from cleaning
the soya beans using machines, to formation, drying, grinding, mixing and
wrapping. These pictures are taken to primary schools and we will use them to
educate our children. The same we did with Nido. Children cannot connect cow
with Nido. We are doing the same with cement companies, the plastics,
Friesland, all the branded companies in Nigeria, we have requested the
companies to produce them for us. We will produce one million copies of each
and distribute to our primary and secondary schools free of charge. We make
sure that we train the teachers, so that we can now breed them from the bottom
that science is the way to go. We want to see kids in primary school say I want
to be a rich man because I can produce Maggi. I know how it is being done.

Technology transfer
agreement costs

Based on our registration process for these technology transfer
agreement, we have saved this country N25bn in ten years. There are some
companies that will come and would want to operate in Nigeria and take hard
currency for technology in a very shoddy manner. Sometimes the technologies are
not that costly but they are charging Nigeria high, so in this office we cut
it. There are some technologies that are old that we are not even supposed to
pay for and when we see it in the agreement, we cancel those agreement. Through
this process of reduction and cancellation, in the last ten years alone we have
saved this country billions, monies that would have left Nigeria to pay for
technologies we don’t even need. We are continuing on refining this process,
that we can only pay for technology that we require and we can gradually ensure
that as Nigerian engineers become better, this agreement will be less because I
can tell you that by law, any job that can be done by Nigerian is not supposed
to be done by anybody coming from outside.

From our record Nigeria has also spent over N300bn on technology
transfer agreement fees in the past 10 years also. This is primarily on
consultancy and software transferred to Nigeria. We are trying to digitise the
whole process so that at the punch of a button I can tell you not just what has
been remitted and how much but only sector by sector.

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Shekarau’s economic blueprint

Shekarau’s economic blueprint

The economic plans of the presidential candidate of the All
Nigeria Peoples Party (ANPP), Ibrahim Shekarau, for Nigeria, as stated in the
party’s manifesto, are clear and developmental initiatives, but while some
finance analysts believe that those plans are achievable, others say they are
unrealistic and are mere campaign proposals.

According to ANPP’s manifesto, Mr. Shekarau, who is the current
governor of Kano State, will provide for Nigerians social and infrastructural
development through “good and well-managed economic policy” which will lead to
a developed society.

The ANPP said it will manage with enhanced transparency the
foreign exchange earning potentials such as petroleum, solid minerals and other
capital yielding products in other sectors, adding that commercialisation and
privatisation of mining operations will be encouraged while joint venture
arrangements between local and foreign investors will be vigorously pursued.
“Proper economic management includes giving priority attention to economic
resources development, diversification and protection,” it said.

Akinbade Ibisiola, a finance analyst at Resource Cap Company, a
fund management firm, said although he really did not know much about Mr.
Shekarau before the recent debate in which the candidate participated, “but he
won my heart that day. He spoke confidently and eloquently on his plans and
appeared like a man of his words who is prepared to rule this country with some
level of knowledge of the system. I think, if given a chance, he can give the
kind of leadership Nigeria needs and improve on the sorry-state of the
economy.”

Meanwhile, David Amaechi, a market analyst and an executive
member of the Shareholders Association of Nigeria, said Mr. Shekarau’s plans
for the economy is not “convincing.” He added that “With the current state of
development in Kano, the state he (Mr. Shekarau) led since 2003, it is obvious
that he has little to offer Nigeria as a whole. You cannot compare what is
happening in states like Lagos and Cross River with Kano in terms of
development,” he said.

However, Magret Asinobi, a jewellery dealer, who travels to Kano
occasionally for businesses, said Mr. Shekarau has done a lot for the people of
the state as against what some people believe. “He has really tried to reduce
poverty there and made going to school attractive for his people; may be
because he was once a teacher,” Ms. Asinobi said, adding that Mr. Shekarau has
also improved the level of social reorientation and security in Kano.

Energy sector

In the mean time, the ANPP said the chaotic state of the energy
sector has forced the national economic growth into a state of inertia thereby
stalling productivity and creating an unprecedented state of unemployment. The
party believes that the development of the industrial sector is the only answer
to the high cost of essential goods even in areas of food, medicine and
textile. “Conscious that a functional energy sector is the foundation of
sustainable development of our economy, ANPP in government would prioritise and
pursue a very aggressive result-oriented energy policy with a view to improving
upon the current state of electricity supply within six months of inception,
and achieving at least seventy-five percent steady power supply within two
years of inception,” the party said.

The ANPP also said it will wage a total war on corruption and
indiscipline through internal scrutiny of elected and appointed political
officers in order to lead by example. It added that it will also launch a war
against hunger and close monitoring of the application of Agricultural credits
and subsidies. The party, however, failed to give strategies on how it intend
to achieve housing issues as it only said it “will strive to provide a housing
policy that is common man friendly.” Beyond these promises, analysts say Mr.
Shekarau and his party have not adequately provided enough facts and figures as
to how to achieve the goals stated in the manifesto.

TOMORROW: Jonathan’s
economic agenda

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Central Bank closer to target on bad debts

Central Bank closer to target on bad debts

The Central Bank of Nigeria, yesterday, said it is closer to
achieving its target ratio of less than 5 percent of nonperforming loans in the
country’s financial sector, with the successful acquisition of all bad debts of
the 21 banks by the Asset Management Company of Nigeria.

The bank’s deputy governor, Banking Supervision, Sam Oni, told
journalists at the end of the 302nd meeting of the Bankers’ Committee in Abuja
that “the purchase of all nonperforming loans of all the banks has effectively
restructured the balance sheets of all the banks, making them healthy and
competitive.” “The quality of the banks’ balance sheets is very high,” he said.

“Our target is to ensure that by the time the second round of
the exercise is completed, the nonperforming loans ratio in the country’s
financial sector should not exceed five percent. The CBN is encouraging banks
to fully charge off all those nonperforming loans that have been fully
provisioned to make their balance sheets very healthy and competitive. This is
a good development to further de-risk the financial system, make it stable and
ensure that the confidence that has been restored is sustained, to propel the
industry to greater heights.”

During the first round of the purchase, the asset company
restricted its attention to margin lending by the intervening banks from where
acquired over N1.036 trillion bad debts. However, in the second phase of the
exercise, the company issued additional N500 billion (about $3.3 billion) in
zero-coupon bonds to clear up the remaining bad debts by March 31.

The committee, which also reviewed progress by the various
interventions programmes by the Central Bank to strengthen the economy,
indicated that the percentage contribution, in terms of loans to the
agricultural sector to total industry loans, has doubled from 1 percent to more
than 2 percent in recent times. This was attributed to the commitment
demonstrated by all the banks to be more supportive to the growth of the real
sector, through the establishment of an agriculture desk to handle agricultural
loans in line with an action plan established two years ago for economic
development.

The criticisms

Two years ago, the banks came under serious criticisms that they
were not doing enough to support the real sector, particularly those critical
to the growth of the economy, particularly agriculture, transport, aviation,
railway, power as well as small and medium enterprises. Managing Director,
First City Monument Bank, Ladi Balogun, said that the industry would witness
rapid growth in banks’ participation in lending to the agricultural sector once
the central bank commences the Nigerian Incentive-based Risks Sharing System
for agricultural lending in the country.

Mr Balogun said several key projects have taken off in the power, and
transport sector as well as the SMEs through the various intervention funds
channelled through the Bank of Industry, in line with the objective of the
banking sector to support the real sector and ensure that those critical to the
growth of the economy received adequate funding. On the industry shared service
projects, indications were that significant progress in the various areas,
including industry-wide cash handling and electronic banking services as well
as IT standardization system by encouraging more of electronic banking, to
facilitate greater efficiency and help manage costs as well as reduce the use
of cash in transactions.

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