COVER
60th Anniversary: FG Building a New Nigeria -Mohammed
By Martin Paul, Abuja
As Nigerians prepare to celebrate the 60th Anniversary of independence on October 1, the Federal Government has said that President Muhammadu Buhari administration is working assiduously to build a new Nigeria.
It stated that celebrating the Diamond Jubilee of the nation became imperative having “survived the civil war, security challenges and many political and religious crises”.
The low key nature of celebration would also feature the launch of the “National Ethics and Integrity Policy and Integrity Award to commemorate the 20th anniversary of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) by President Buhari.
Speaking yesterday, at a briefing by a three-man media sub-committee for the event, the Minister of Information and Culture, Lai Mohammed, said the low-key nature of independence anniversary was not unconnected with the COVID-19 pandemic.
He, however, said the nation opted to celebrate the Diamond Jubilee because the nation was able to survive a civil war, security challenges and many political and religious crises.
“The 60th independence anniversary celebration will be low-key, as Mr. President has already announced. Of course, this is not unconnected with the Covid-19 global pandemic, which has forced some safety protocols on nations around the world.
“Therefore, the pomp and pageantry that should have marked the celebration will be largely missing.
“Before I announce the activities that have been lined-up for the Diamond Jubilee, let me say here that the 60th anniversary celebration will be celebrated for a whole year, ending September 30th 2021.
“Therefore, there are some activities that may come up after the ones to be announced today. This does not mean there will be daily activities between now and Sept. 30th 2021, but that there will be staggered events during that period. We will ensure to keep you posted.
“Now, some may wonder why Nigeria needs to celebrate its Diamond Jubilee at all, considering the myriad of socio-economic challenges facing the country. And our answer to that is contained in our theme of ‘Together’.
“For a country that has gone through a bitter, internecine civil war, years of political crisis, daunting security challenges, including religious and ethnic crisis, etc, our unity and our resilience (which by the way is what diamond represents) are worth celebrating.
“Also, in certain cultures, the age of 60 is seen as the beginning of a new cycle of life, and is usually well marked. For Nigeria as a country, the Administration of President Muhammadu Buhari offers a new beginning.”
He said the Buhari administration will bequeath a new Nigeria by laying the foundation for industrial and technological development.
“The Administration is working assiduously to build a new Nigeria, laying the building blocks for industrial and technological development by building massive infrastructure in the areas of power, roads, bridges, rail etc. and by developing human capital.
“This Administration is also fighting corruption, tackling insecurity and diversifying the economy by leveraging ICT, Creative Industry, Agriculture and mining, among others and so, I say, let the celebrations begin, and this is wishing all Nigerians a happy 60th independence anniversary,” he said.
The Minister re-echoed President Buhari’s explanation of the 60th anniversary logo, adding: “Please permit me to quote Mr. President’s explanation of the logo: The neatly encrusted Diamond on the Nigerian Map symbolizes our age of treasure, the worth of the Nigerian people with our sparkle to the admiration of the world.
“In the same vein, the pear green and dark green colours should respectively remind us of our warmth, welcoming spirit and love as well as the abundant wealth inherent in our human capital and the richness of our land. All these properties make us unarguably the most prosperous black nation in the world and Africa’s largest economy.”
Other Ministers at the session were the Minister of Communications and Digital Economy, Dr. Isa Ali Pantami and the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar Farouq.
…HURIWA Faults FG Plans to Link Niger Republic by Rail
Meanwhile, Human Rights Writers Association of Nigeria, HURIWA, has described the Federal Government decision to build railway line from Kano to Niger Republic as fraudulent and against public interest.
The group also threatened to sue President Muhammadu Buhari to stop the multi-billion naira project, which is expected to star from Kano state.
In a statement signed by its National Coordinator, Emmanuel Onwubiko and made available to DAILY ASSET yesterday, HURIWA condemned the approval of about $1.96 billion contract of the proposed project.
The human rights group described the planned project as a misplaced priority and a grave threat to national security, insisting that it is fraudulent to borrow from China and build for Niger Republic and then tax Nigerians to pay back.
The Federal Government had yesterday approved a $1,959,744,723.71 contract for a rail line that would link Nigeria to Niger Republic.
The railway will connect at least seven cities in Nigeria and one city in Niger Republic and is expected to start from Kano and pass through Dambatta, Kazaure, Daura, Mashi, Katsina, Jibia and terminate in Maradi, Niger Republic.
HURIWA said that the project is another proof of misplacement of priority by the Buhari regime.
However, the rights group described the project as a ticking time bomb and a grave threat to National security, adding that when completed, it will ease the influx of illegal aliens into Nigeria.
“We are worried that this project when completed will be express entry for killer herdsmen and terrorists from Niger. We see it also as a plot to flood Nigeria with illegal aliens for purposes of undermining the 2023 polls,” the group said.
“Therefore, we condemn this venture as wasteful because of the danger of being used to import weapons that will set Nigeria ablaze. Whereas there are no such rail lines linking Lagos to Enugu and Port Harcourt or Maiduguri to Enugu, President Buhari is investing almost $2bn to build railways for terrorists and bandits to flood into Nigeria and destabilize the country. Is this government just for the North?
“In any event, the bottom line is that security everywhere in Nigeria, particularly across the north, appears to be rapidly deteriorating, resulting to popular discontent. Hence, this rail project is ill-timed and a wasteful effort.
“Beyond the security aspect, Let us even look at it from the point of view of the economy. What is the economic benefit of this project to Nigeria? The Nigerian economy, as it is today, is not in a state to contain this kind of wasteful spending.
“Generally, illegal immigration in Nigeria is a serious problem and the border has become quite porous. According to authorities, people from Niger are the biggest group of illegal immigrants, and the problems with illegal influx migrants are seen in the dangers faced by the host or receiving country, which are social, economic, political and security.
“A rapid influx of illegal immigrants has led to crisis of identification and an increase in the crime rates in Nigeria. It is alleged that among the illegal migrants, there are militants, who enter the nation to carry out terrorist activities.
“Terrorism has become a global trend, and it is thought that the current government of Muhammadu Buhari would seek out practical ways to strengthen our porous borders, instead, it is creating easy and accessible means of illegal arms trafficking and immigrants.”
COVER
Another Blackout as National Grid Collapses Second Time in Two Days
By Mike Odiakose, Abuja
As Nigerians await full power restoration, the national grid has collapsed once again.The national grid collapsed on Tuesday, marking the 10th such incident since January 2024.It was confirmed that, as of 11 am on Thursday, the 22 power plants were only able to generate 2,323 megawatts of electricity, with generation dropping to 0.
00MW. The peak generation for the day was 3,743MW as of 10 am. The Ikeja Electricity Distribution Company reported a power outage at 11:29 am.“Dear Esteemed Customer, please be informed that we experienced a system outage today, 7 November 2024, at 11:29 hrs, affecting supply within our network.“Restoration of supply is ongoing in collaboration with our critical stakeholders. Kindly bear with us,” IKEDC said.The Transmission Company of Nigeria has yet to provide an update on the incident at the time of this report which marks the 11th of such occurrences in 2024.The country recorded more than 93 cases of grid collapse during the eight-year administration of former President Muhammadu Buhari from 2015 to 2023.This persistent grid collapse has led to frequent blackouts, impacting businesses and daily life across the country.Nigeria had, in the past decade, secured about 10 loans totaling about $4.36bn from the World Bank to address challenges in the sector but there has not been any significant improvement even with additional funds from multilateral and donor agencies.This has heightened speculations that a sizable chunk of the loans may not have been disbursed for the purposes for which they were obtained.The frequent fluctuations in power supply have continued to take a toll on industrial and domestic consumers leaving frustration and low productivity in the aftermath.The Bola Tinubu administration has continued to seek additional World Bank loans, securing $1.901 billion in new funds since he assumed office in June 2023.The administration has also been making frantic efforts to expand the nation’s energy options through renewable energy projects.The government has also initiated massive solar energy extension, especially to rural communities across the country to bridge the gaping power gaps.With a population estimated to be more than 200 million, Nigeria has not been able to exceed 5000 Megawatts at any period in the past 10 years despite assurances by successive administrations.More disturbing to Nigerians is the astronomical increase in electricity tariffs across the board, peaking above 400 percent with the last hike that was affected earlier in the year.COVER
FG Defends CNG Vehicle Safety Amid Malaysia’s Phase-out plan
By David Torough, Abuja
The Presidency has sought to allay concerns regarding the safety of Compressed Natural Gas-powered vehicles, recently introduced in Nigeria as an alternative to petrol-powered cars.The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, dismissed these fears in a post on X on Thursday while responding to reports on Malaysia’s plan to phase out CNG-powered vehicles by 2025.
The Malaysian government announced plans to phase out CNG vehicles and end the sale of natural gas vehicles by July 2025. According to local media sources, Malaysia’s Minister of Transport, Anthony Loke, made this announcement at a press conference on Monday.He explained that the decision was intended to protect road users and the public from the potential hazards posed by ageing CNG tanks.Loke was quoted as saying, “These NGV tanks have a safe usage lifespan of approximately 15 years, and if they are not replaced, they become unsafe to use and may fail at any time.” From July 1, 2025, CNG-powered vehicles will no longer be registered or allowed to operate in Malaysia.However, Onanuga clarified that Malaysia’s policy was focused on the safety of Liquefied Petroleum Gas (LPG), not CNG.He added that Nigeria chose CNG specifically for its safety and cost-effectiveness, with plans underway to develop domestic tank manufacturing capacity.Onanuga wrote, “Some clarification on Malaysia’s plan to phase out CNG-powered vehicles:“The Malaysian issue relates to the safety of LPG, not CNG. In the original report, Transport Minister Anthony Loke stated, ‘There are also some car owners who have modified their vehicles using liquefied petroleum gas (LPG) cylinders, which are very dangerous.’“NGV covers both CNG and LPG. Nigeria, in its transition, has adopted CNG only, not both, due to valid safety and cost concerns regarding LPG.”Onanuga further noted, “Malaysia’s programme for CNG-powered vehicles struggled, achieving only a 0.2% conversion rate over 15 years. By contrast, nations like India, China, Iran, and Egypt have seen considerable success.”He added that Malaysia faced difficulties in replacing 15-year-old tanks due to limited manufacturing capacity, while Nigeria, in its first year of adopting CNG, is already addressing this.Malaysia introduced CNG for taxis and airport limousines in the late 1990s, while Nigeria began its own CNG initiative in 2024 as an alternative transportation fuel.COVER
Zenith Bank Upgrades Infrastructure, Assures of Exceptional Service
By David Torough, Abuja
Zenith Bank Plc has assured its teeming customers of exceptional service delivery and improved customer experience following the successful completion of its Information Technology Infrastructure Upgrade.
The Group Managing Director/Chief Executive of the bank, Dr.
Adaora Umeoji in a statement expressed her immense gratitude to all customers of the bank for their patience and support during its recent IT infrastructure migration to a new and more robust operating system.Umeoji emphasized that the bank was committed to delivering unparalleled service experience, saying “We undertook such an extensive endeavor in other to better position Zenith Bank Plc for improved service delivery to all our valued customers and provide memorable banking experiences at all our touchpoints,” adding that the bank now has one of the best technology infrastructure in the Nigerian banking industry, and is well positioned to ensure customers experience exceptional service delivery going forward.
Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offering, unique customer experience and sound financial indices.
The bank has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.
The bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the 15th consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria 2023 and 2024 in the International Banker Banking Awards.
Further recognitions include being recognised as Best Bank in Nigeria for the fourth time in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria for four consecutive years from 2021 to 2024 in the World Finance Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for three consecutive years, from 2022 to 2024, ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.
The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021; Bank of the Year for 2023 and 2024, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best
Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards, Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.