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NAICOM Names Five New Directors

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By Tony Obiechina, Abuja

The Governing Board of the National Insurance Commission (NAICOM) has approved the promotion of five of its senior staff to the position of Directors.

In a statement by NAICOM on Monday, the approval was given at its board meeting held on 21 June, 2024, following the promotion exercise conducted on 27th March, 2024.

The new Directors include: Ajibola Bankole – Director, Inspectorate, Ahmad Ibrahim Adamu – Director, Innovation & Regulation, Talmiz Usman – Director, Legal, Enforcement & Market Development, Kamaludeen Barde – Director, Finance & Accounts and Rasaaq Salami – Director, Human Resources & Administration.

The Governing Board also approved the updated organisational structure of the Commission to enhance its efficiency, effectiveness, and adaptability. This restructuring ensures that the organisational structure aligns with the Commission’s strategic goals and objectives, aiding the executive management in achieving its mandate.

The new directorates are, Inspectorate, Supervision; Market Conduct & Complaint Bureau; Innovation and Regulation; Legal, Enforcement & Market Development; Human Resources & Administration; Finance & Accounts, as well as Technology, Strategy & Research.

Oil & Gas

Dangote Slashes Fuel Price by N100 as Global Crude Slumps

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The Dangote Refinery on Tuesday reduced its petrol gantry price by N100, from N1,175 to N1,075 per litre.

The move followed a slump in global oil prices, with Brent crude dropping to $89 per barrel from over $100 on Monday.

Officials of the refinery confirmed the development to our correspondent, adding that diesel prices have also been reduced.

They stated that petrol supplied via coastal distribution channels will now sell for N1,050 per litre, reflecting a slight differential for marine logistics.

Similarly, diesel is now N1,430 per litre at the gantry, representing a N190 reduction from the earlier price of N1,620 per litre.

According to oilprice.com, Brent crude prices witnessed a dramatic reversal on Tuesday, plunging nearly 27 per cent from the previous day’s high of $119 per barrel to as low as $87 per barrel.

The Dangote Refinery reportedly blamed global crude volatility for the repeated price hikes, citing tensions arising from the US-Iran conflict.

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BUSINESS

OBJ at 89: Wiser With Age – Ozekhome

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By Mike Odiakose, Abuja

A Legal luminary, Prof Mike Ozekhome, SAN, has described former President Olusegun Obasanjo as a “remarkable living legend and human prodigy.

In a birthday tribute as Obasanjo clocks 89 years, Prof Ozekhome declared that Obasanjo’s “legacy as a distinguished elders statesman, uncommon leader, and irrepressible nation-builder is permanently etched on marble.

Part of the tribute reads: “As Chief Olusegun Obasanjo,GCFR, Ph.

D, former military Head of State and later President, Commander-In- Chief of the Armed Forces of the Federal Republic of Nigeria marks his 89th birthday, it is proper to pay tribute to this remarkable living legend and human prodigy.
My writeup on him at 87 two years ago was aptly titled, “OBJ,Please, Remain OBJ”. And he has remained true to himself-weaving, bubbling, speaking, traveling, lecturing and still dancing and playing football. What a homo sapien!

“Baba Obasanjo is a beacon of hope,a symbol of integrity, and a champion of Nigeria’s progress. His legacy as a distinguished elders statesman, uncommon leader, and irrepressible nation-builder is permanently etched on marble.His contributions to Nigeria’s growth and development are simply unquantifiable.

“I recall him singing my birthday song and cutting my birthday cake at ABUAD’s 10th Convocation Lecture 4 years ago after I delivered the Convocation lecture and received a doctorate degree ( honoris causa) in law ( LL.D ). His achievements are simply ineffable, including military exploits, authorship of over 20 books, and an unwavering commitment to democracy and good governance.

“One can not forget that OBJ played a major role when he accepted on behalf of Nigeria, the mantle of surrender by General Phillip Effiong on behalf of the Biafran army, thus ending a 30 year needless bloody civil war that consumed over 3 million lives with attendant suffering and destitition.

“Your wisdom, vision, and leadership are needed now more than ever,” I had written two years ago,describing him thus: “Please, OBJ, remain OBJ – a true icon, a guiding light, and a hero of our time.”

“Baba’s leadership has left an indelible mark on Nigeria, inspiring generations not only in Nigeria and Africa, but within the entire black race.

“As an international figure, his voice resonates even as his rare wisdom and experience are globally sought, leading to his epic position as Co-Chairman of the Inter-Action Council of former Heads of State and Government.

“Some of his many books, including ‘My Watch’ and ‘The Art of Leading’, are loud testaments to his deep thinking and intellectual prowess.

“Very often, he speaks truth to power, advocating for justice, fairness, and equality for all,damning the consequences.

“OBJ’s life reminds us that we all have a role in shaping our country’s future.
Seest thou a man blessed round and round by God in all ramifications; nurtured in humble beginnings, but attained the height of a living sage and deity?

“A man since inducted into the pantheon of heroes of modern day Nigeria, bestrididing the military, democratic and governance worlds of Nigeria? That is legendary OBJ.

“As baba marks this 89th milestone birthday, I pray that God grants him many more years ( Gen 6:3) of good health, fulfillment, happiness, and peace that passeth all understanding ( Phil 4:7). Amen.”

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BPP, Yakubu Gowon University Plan Global Procurement Centre in Abuja

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The Bureau of Public Procurement (BPP) and Yakubu Gowon University have announced plans to establish an International Centre for Procurement, Governance, Integrity and Assurance.

The Director-General of BPP, Dr Adebowale Adedokun said this in a statement on Monday in Abuja.

Adedokun said the proposed centre aimed to position Nigeria as a leading hub for procurement expertise within the Economic Community of West African States region and beyond.

He said the collaboration was formalised when the Pro-Chancellor and Chairman, Governing Council of the school, Olanrewaju Tejuosho, led a delegation to visit him in Abuja.

Adedokun described the initiative as a significant step toward strengthening governance and professionalising procurement practices in Nigeria.

He said that the university, located at the seat of power, remained a strategic institution for advancing knowledge and policy development.

According to him, the centre will provide research, real-time data analytics and policy support for government programmes.

He said the initiative would also support national reforms under the Renewed Hope Agenda, adding that the partnership aligned with the Bureau’s mandate under the Public Procurement Act 2007.

The BPP boss said that the Act empowered the Bureau to promote capacity building, professional development and ethical standards in public procurement.

The director-general said international technical support was already being mobilised to support the establishment of the centre.

According to Adedokun, the facility will attract policymakers, ministers and executives from across Africa and other parts of the world.

He said the centre would enable leaders to learn, unlearn and relearn global best practices in procurement governance.

Adedokun also announced that the Bureau would host an international seminar at the university in April which would serve as a precursor to the official launch of the centre’s activities.

The director- general emphasised that the facility must meet global standards comparable to leading international institutions.

He added that the Bureau would soon visit the university to inspect temporary facilities and finalise implementation arrangements.

Earlier, the Pro-Chancellor expressed strong support for the initiative and commended the Bureau for the partnership.

Tejuosho said many public officials faced legal consequences due to inadequate knowledge of procurement procedures.

According to him, access to specialised training would strengthen oversight and improve accountability in public service.

Tejuosho disclosed that the university had already identified a take-off location and developed structural plans for the institute.

The Vice-Chancellor, Hakeem Fawehinmi, pledged the university’s commitment to ensuring the success of the partnership.

Fawehinmi said the institution would work closely with the Bureau to establish a globally competitive centre.

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