Day: May 29, 2024

President Bola Tinubu says the three Executive Orders on oil and gas reforms will make Nigeria’s petroleum sector globally competitive.

The president said this during a meeting with a delegation from ExxonMobil Upstream Company, led by its President, Liam Mallon on Tuesday in Abuja.

He emphasised that these reforms would ensure that no oil company faces undue challenges in the country.

The three Executive Orders, which became effective from Feb. 28 are: Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order, 2024.

The others are the residential Directive on Local Content Compliance Requirements, 2024; and the Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines.

Tinubu assured the delegation of the federal government commitment to resolving the divestment issues between the company and Seplat Energy, which are currently under litigation.

‘We have been pushing for closure on divestment issues, and I believe the other party, Seplat, is open to this,’ th
e president said.

Tinubu commended the company for its show of commitment to environmental protection in Nigeria, noting its efforts in reducing gas flaring in the country.

‘Nigeria is going through a lot of reforms, and we have been navigating the leadership quarters carefully to ensure that we achieve a win-win situation for all parties and attract more investments,’ he said.

The president described ExxonMobil as a worthy partner in Nigeria’s development over the decades and urged it to remain committed to contributing to the success of his administration.

‘We are close enough to be fair and blunt with you, and we are not afraid to hear from you on better options and recommendations for the growth of the industry in Nigeria,’ the president said.

The meeting, attended by Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), and Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), discussed issues such as divestment, decommissioning, and abandonment as regards the company.

‘Mr
. President has given a clear directive to the NNPC GCEO and I to resolve the issue of divestment, and we are doing whatever we can to achieve that,’ Lokpobiri stated.

On decommissioning and abandonment in the oil industry, Lokpobiri noted that the ministry is addressing the matter in line with the Petroleum Industry Act (PIA) and global best practices.

‘The reforms driven by the three Executive Orders will ensure that companies operating in Nigeria have the best environment to continue making their investments and that no company will seek to leave Nigeria,’ the minister said.

Liam Mallon, the President of ExxonMobil Upstream Company, appreciated the support and reassurances provided by the Nigerian government and pledged the company’s long-term commitment to the country’s energy sector.

He also commended the president for his courage and conviction to undertake bold reforms within his first year in office.

Source: News Agency of Nigeria

Wema Bank, on Tuesday, said it is set to raise N200 billion capital within the 24-month timeline issued by the Central Bank of Nigeria (CBN).

Mr Moruf Oseni, Wema Bank Managing Director/Chief Executive Officer, said this at the 2023 Annual General Meeting (AGM) of the bank in Lagos.

Oseni said that the preparedness followed the approval of the bank’s shareholders and Board.

According to him, the bank will achieve the aim through public placements and a public offering.

The News Agency of Nigeria (NAN) reports that the CBN on March 29 directed commercial banks in the country with international authorisation to shore up their capital base to N500 billion and national banks to N200 billion.

Similarly, non-interest banks with national and regional authorisation will increase their capital to N20 billion and N10 billion respectively.

The recapitalisation exercise, expected to commence from April 1 through March 31, 2026, is to help the country to attain its one trillion-dollar economy target.

Oseni explaine
d that the CBN had done its due diligence and approved the bank’s N40 billion rights issue, which is currently undergoing the Securities and Exchange Commission’s (SEC) approval to be listed on the Nigerian Exchange.

He said: ‘Our capital base now stands not at the current N15 billion, but with the rights issue, at N55 billion, which is a significant headway towards N200 billion.

‘We are confident that we will achieve this before the timeline expires.

‘We have shared our plans with the CBN, and working assiduously to meet the balance of our capital base in the nearest future.’

According to him, at a minimum, Wema Bank will remain a national bank but will keep working tenaciously to become a ‘Systematically Important Bank’ and re-attain Tier-one status.

The managing director said that the bank would continue providing optimum value for its shareholders and stakeholders.

On the bank’s financials for the year 2023,

Oseni said the Bank reported a 196 per cent increase in Profit Before Tax (PBT) from N14.75
billion in the previous year to N43.59 billion in year 2023.

He mentioned that the bank also posted 220.4 per cent increase in its Profit After Tax (PAT) from N11.21 billion in year 2022 to N33.66 billion in the year under review.

The managing director stated that the bank reported 70.63 per cent increase in its gross earnings from N132.30 billion in the previous year to N225.75 billion in year 2023.

According to him, the bank also posted 53.64 per cent increase in loans disbursed in 2022, from N521.43 billion to N801.10 billion.

Wema Bank also recorded a remarkable 220.53 per cent increase in earnings per share from N87.2 to N279.5, among other successful upturns.

Oseni noted that the bank’s performance has been stellar throughout the year and the figures testify to that.

‘As a bank, we feel privileged and lucky to have enjoyed the support of our shareholders and stakeholders, especially in the past year.

‘None of it could have been possible without the support of the Board, my colleagues in Executive
Management, and our customers who are extremely loyal and committed to helping us improve,’ he said.

Meanwhile, the bank’s shareholders unanimously approved 50k dividend for the year ended Dec. 31, 2023.

They also approved the appointment of two new non-executive directors of the bank, namely: Ms Yewande Zaccheaus and Mr Yusuf Kazaure, and the new Executive Director, Mr Segun Opeke, as new additions to the Wema Bank Board of Directors.

Commending the exceptional results, Mr Badmus Tunde, a shareholder of the Bank descibed the performance as overwhelming, adding that profitability has been maintained.

Tunde welcomed the new chairman on board, as well as the managing director, noting that they are very capable of steering the ship.

‘I want to congratulate the Bank for coming this far, 79 years is not child’s play and I pray God grants us long life.

‘Since 1945, Wema Bank has seen the good, bad, beautiful and the ugly, and through thick and thin, it has gotten to where it is today,’ he said.

Source: News
Agency of Nigeria

‘My primary foreign policy objective must be the peace and stability of the West African subregion and the African continent. We shall work with ECOWAS, the AU and willing partners in the international community to end extant conflicts, and to resolve new ones. As we contain threats to peace, we shall also retool our foreign policy to more actively lead the regional, continental, and global quest for collective prosperity.’

The above excerpt extracted from President Bola Tinubu’s speech during his inauguration on May 29, 2023, clearly enunciating and underscored the foreign policy focus of his administration as encapsulated in his Renewed Hope agenda.

At the heart of the administration’s foreign policy approach, dubbed the ‘Tinubu Doctrine,’ is a ‘4-D Diplomacy Strategy’ centred on promoting democracy, driving economic development, harnessing Nigeria’s demographic potential, and engaging with the diaspora community.

One year after Tinubu’s epochal inaugural speech, analysts have given the President a thumb
s up for not just reinforcing Nigeria’s traditional Afrocentric foreign policy thrust but redefining it under the auspices of the 4D agenda.

According to them, Tinubu’s foreign policy focus is a success and consistent with the nation’s traditional three concentric circles, which prioritizes West Africa, Africa and rest of the world, and a non-aligned disposition.

For instance, Tinubu’s foreign policy initiatives are observed to have deliberately accorded the West African subregion, under the auspices of ECOWAS, topmost priority, followed by the African continent under the auspices of AU, and then the rest of the world.

The President, some observers argue, has matched his inaugural speech words with action in the implementation of the administration’s foreign policy, and is barking and biting, where necessary.

Notably, in the past twelve months, Tinubu has embarked on a string of strategic diplomatic trips to many countries of the world, seeking and sealing bilateral and multilateral partnerships in the na
tional interest.

These trips were for multifaceted reasons, varying from expanding and strengthening Nigeria’s bilateral relations and multilateral partnerships, to defence and security, as well as to convince foreign investors to invest in the nation’s economy.

Scorecard as ECOWAS Chairman

The President’s debut official trip to West Africa was to Guinea-Bissau for the Summit of the Economic Community of West African States (ECOWAS) on July 9, 2023 for the 63rd Ordinary Session of ECOWAS Authority of Heads of State and Government, where he was automatically admitted as the newest member of the exclusive club.

His status was quickly elevated when the ECOWAS member states unanimously elected him as Chairman of the Authority of Heads of State and Government, to succeed President Umaro Embalo of Guinea-Bissau, who had held the reins between 2022 and 2023.

In his acceptance speech, he read the riot act to terrorists and military putschists warning them that the threat to peace in the subregion had reached an
intolerable alarming proportion and called for concerted actions from member states.

Tinubu warned that under no circumstance would ECOWAS under his leadership condone any disruption to democratic order in any member state in the subregion.

In what seemed like he had a premonition of what was to happen next, as well as a test of his will, military leaders in Niger Republic overthrew the government of President Mohamed Bazoum seventeen days after.

The Niger coup sparked an immediate outrage and reaction from Tinubu, who quickly convened an emergency meeting of the body where stringent punitive measures were taken against the Niger military putchists, including the threat of military action, should they fail to restore Bazoum.

This was, however, later diplomatically resolved with the subsequent lifting of sanctions on Niger, Mali and Burkina Faso, in line with Nigeria’s foreign policy tradition of good neighborliness.

This age-long foreign policy disposition aims at strengthening and deepening bilateral re
lations with Nigeria’s immediate neighbours, which is strategic to Nigeria and West Africa’s economic and security interests.

On August 1, 2023, Tinubu made another short trip across the Nigerian border to the Republic of Benin for the 63rd independence anniversary ceremony of the country.

While this visit may appear ceremonial on the surface, deep down, it represented a significant step in the efforts by the two countries to consolidate their age-long relationship of good neighborliness.

Commenting on Tinubu’s West African foreign policy focus, Gen. Yakubu Gowon (rtd), former Nigerian Head of State and founding father of ECOWAS, lauded him for uniting the bloc under his leadership.

Gowon, who spoke recently at the inauguration of the Academy of International Affairs, a foreign policy think-thank founded by former foreign affairs minister, Prof. Bolaji Akinyemi, in Abuja, said that Tinubu as ECOWAS Chairman, had achieved a crucial foreign policy milestone by promptly taking measures to forestall the bloc’
s disintegration.

He said that by rallying ECOWAS leaders together quickly during the Mali, Burkina Faso, Niger exit threat, and lifting the agonizing sanctions earlier imposed on them, Tinubu took the right step in the right direction that has kept ECOWAS as one bloc.

‘I must commend President Bola Tinubu for all the foreign policy initiatives he made, which have kept ECOWAS together in the face of recent challenges.

‘I implore the President to continue to ensure that Nigeria’s voice remains audible, and its influence felt in international relations,’ Gowon said.

Corroborating Gowon’s view on Tinubu’s ECOWAS foreign policy approach, Dr Mohamed Ibn Chambas, pioneer President, ECOWAS Commission, and current AU High Representative for ‘Silencing the Guns in Africa,’ expressed confidence in ECOWAS under Tinubu to resolve the Mali, Burkina Faso, Niger impasse.

Chambas noted that Tinubu’s combined democratic and diplomatic credentials needed not be proved because all his life, he has stood for fighting for de
mocracy, adding that his own personal experiences were also a testimony.

‘He is very strong in his opposition to military interventions because, having elected democratic governments over any other form of government, including military intervention, is the only accepted form of governance globally.

‘We also know President Tinubu to be a practical person and politician, who has his ideals and principles and will do what is necessary to keep ECOWAS united.

‘I’m aware that he is already working actively with the ECOWAS President, Dr Omar Touray, to ensure that every diplomatic step is taken to keep ECOWAS united,’ Chambas said.

Amb. Yusuf Tuggar, the Minister of Foreign Affairs, while reinforcing the Afrocentric focus of President Tinubu recently, stressed that Nigeria’s core foreign policy thrust over the past year has been consistently Afrocentric.

Tuggar explained that this was driven through a three concentric circle application, aimed at achieving economic growth, peace and security within West Africa
and Africa at large.

According to him, Tinubu’s administration’s newly defined foreign policy projection is encapsulated in the ‘4Ds’, namely Democracy, Development, Demography, and Diaspora.

‘The 4Ds doctrine is being deployed to build alliances through diplomatic engagements and partnerships with other nations, multilateral institutions and the diaspora community.

‘This foreign policy outlook heralds a new era of regional stability and collective prosperity for the sub-region and, indeed, Nigeria.

‘Through these efforts, Nigeria can assume a stronger leadership role in resolving conflicts and driving economic growth across Africa.

‘Mr President emphasizes the significance of engaging with regional organizations, such as the AU, ECOWAS and forging strong partnerships with international allies,’ Tuggar said.

Curbing terrorism in Africa

As a bold step towards curbing the surging scourge of terrorism and violent conflicts sweeping across West Africa, President Tinubu recently hosted a two-day African hig
h-level counter-terrorism summit in Abuja, attended by African presidents, AU President, UN deputy secretary general, among others.

The summit aimed at precipitating African-led and African-owned solutions against terrorism; strengthening regional response to terrorism threats; enhancing regional cooperation; producing a comprehensive approach and addressing conditions conducive to the spread of terrorism, among others.

This bold move clearly underscores the urgency and seriousness with which Tinubu and other African leaders are tackling the continent’s spiraling insecurity situation, using regional platforms, such as the AU and ECOWAS, to address this existential threat.

Speaking at the event, Tinubu called for the establishment and strengthening of a regional standby military force to curb terrorism, violent conflicts and unconstitutional changes of government in Africa.

‘Terrorism snaps at the very fabric of the prosperous and just society, which we seek to build for ourselves and our children.

‘This
violent threat seeks to frighten the farmer from his field, children from their schools, women from the marketplace and families from their very homes.

‘We must, therefore, fight this threat together, combining determined national effort with well-tailored and regional and international collaboration,’ he said.

Leveraging Paris climate change cum global financial pact summit

The President’s his first official trip outside the country, and the continent, was to Paris, the French capital, on June 20, 2023, to partake in the New Global Financing Pact Climate Change Summit.

The summit, which focused on the reform of multilateral development banks (MDBs), debt crisis, innovative financing, international taxes, and special drawing rights (SDRs), aimed at reshaping the global financial system and finding better ways to tackle poverty and climate change.

The pact was signed by world leaders to prioritise support for and investment in vulnerable countries, in order to mitigate the impacts of climate change, the e
nergy crisis, and healthcare, particularly the COVID-19 pandemic on developing countries’ economies.

President Tinubu leveraged the event to engage in bilateral and multilateral diplomacy seeking support, collaboration and partnership with multilateral financial institutions and foreign investors, and rallying investors to take advantage of opportunities in Nigeria.

Tinubu also held a series of high-profile sideline meetings with world leaders, global business leaders, and chief executives of leading multilateral and development finance institutions.

They included the European Bank for Reconstruction and Development (EBRD) boss, Odile Renaud-Basso, and African Export-Import Bank (Afrexim) President, Benedict Oramah, among others.

As a demonstration of his genuine commitment to addressing the existential threat of climate change issues, Tinubu has also recently established a Presidential Committee on Climate Action and Green Economic Solutions.

The committee is tasked with coordinating and overseeing all
policies and programmes on climate action and green economic development in relation to the global climate change action plan, so as to mitigate their imaginable negative consequences.

Chaired by Tinubu himself, the presidential committee aims to remove the constraints to coordination, foster a whole-of-government approach to climate-action programmes, and provide an efficient governance architecture.

The committee is also saddled with ensuring that all relevant institutions in the sector are plugged into the President’s vision and are collectively implementing the Renewed Hope Agenda on climate action.

Sharing his view on the dividends of these efforts, especially the Paris summit’s benefits, Ayokunle Olubunmi, head of financial institutions ratings firm, Agusto and Co, said it offered Tinubu the opportunity ‘to put his best foot forward, present his plans, talk to foreign investors, market Nigeria, and gain the trust of the international community.’

He stressed that Nigeria urgently needed the help and
support of the MDBs and the international financial institutions (IFIs) to bail it out its current economic quagmire.

‘Don’t forget that with all the policies the government is putting in place, some have negative shocks on the economy.

‘So, we need those development banks to be able to support the economy, to cushion the impact, either by giving direct loans to businesses or advisories, or other supports,’ the analyst said.

Leveraging the Delhi G-20 Summit

President Tinubu also embarked on economic diplomacy to attract foreign investors, where he succeeded in securing a whooping 14 billion dollars in commitments from Indian corporations, during the G-20 Summit in Delhi, India, which held in September, 2023.

This was a milestone foreign policy accomplishment because the President travelled to India, having in mind his uncompromising drive for foreign investment as top priority, taking along top government officials, businessmen and women in his entourage.

Addressing world leaders at the summit, Tinubu
declared Nigeria’s commitment to promoting shared prosperity and security and called for global unity and cooperation in tackling pressing challenges, fostering inclusiveness, and establishing a fairer world order.

Reflecting on the theme of the Summit: ‘One Earth. One Family. One Future,’ Tinubu underscored the interconnectedness of global affairs and the need for collaborative efforts.

He noted that most contemporary global issues were international in character and could not be addressed without multilateral cooperation.

‘Therefore, stronger collaboration, cooperation, and partnerships among diverse regions are the pathways to a peaceful, prosperous, and sustainable future for our world.

‘A world that lives as one family, but is divided by staggering income inequalities, and uneven access to basic social goods by the vast majority of our people, cannot result in a peaceful and secure world, where shared prosperity is achieved.

‘Nigeria is poised, able and willing to be a major player in this family of
the G-20 and in shaping a new world, without whom the family will remain incomplete,’ he said.

He also seized the opportunity to hold discussions with some world leaders, who are regarded as key partners in Nigeria’s economic diplomacy drive with a view to stimulating local investment and wealth creation.

These included German Chancellor Olaf Scholz, South Korean President Yoon Suk Yeol, Indian Prime Minister, Narendra Modi, U.S. President Joe Biden; European Commission President, Ursula von der Leyen; and World Bank President, Ajay Banga, among others.

Russia-Africa Summit takeaways

The second Russia-Africa Summit and Russia-Africa Economic and Humanitarian Forum focused on strategising to enhance relations between Russia and the African continent, among other benefits.

During the summit, which held in St Petersburg, Russia, Nigeria was able to secure in a single stroke a whooping fortune of 14 billion dollars pledge of Foreign Direct Investment for the country.

Addressing the plenary session of the su
mmit in St. Petersburg, the President, through Vice President Kashim Shetima, noted that Nigeria was entering a new era, and repositioned for greatness through strategic reforms and diversification of its economy.

Commenting on the President’s string of multilateral and bilateral diplomacy during both the India G20 and the Russia-Africa summits, a civil society organization, the Coalition for the Revival of Ajaokuta Steel Company, gave the President a thumbs up.

‘We thank Mr President for taking this swift initiative towards Nigeria’s industrialisation, as we pray that his tenure brings incompressible fortunes to Nigeria and for every Nigerian.

‘Our immediate shared fortune is the pledge of 3 billion dollars by Jindal Steel and Power of India, which will see Ajaokuta Steel Rolling Mills working again, after being abandoned at 95 per cent completion stage since 1994.

‘Apart from the production of iron, steel, other valuable products that will be available in the course of operation of Ajaokuta Steel Plant
will for instance include about 110MW electricity, hydrogen, 35000 cubic meter of oxygen per hour.

‘Others are nitrogen, argon, coke oven gas, sulphuric acid, and many more multiplier effects on the Nigerian economy, so the table must turn at this time in favour of Nigeria and Africa,’ the CSO noted.

The Johannesburg BRICS Summit

As a demonstration of Tinubu’s commitment to economic collaboration with like minds globally, Nigeria attended the summit of the BRICS states, comprising Brazil, Russia, India, China, and South Africa; as well as Egypt, Ethiopia, Argentina, Iran, Saudi Arabia and the United Arab Emirates (UAE) as an observer, although she has yet to formally apply to join the group.

The President said at the summit that Nigeria was seeking foreign partnerships that would provide opportunities for all to engage in trade, prosperity and shared progress with no marginalisation.

Tinubu, through Vice President Kashim Shettima, reiterated Nigeria’s commitment to playing a major role in shaping global
framework and governance in the areas of finance, climate change, digital economy and post-pandemic recovery.

‘This endeavour aims to foster global economic governance reform while enhancing the representation and voice of emerging market economies or developing countries.

‘We seek a partnership that provides opportunities for all to engage in trade, prosperity, and shared progress with no marginalisation based on geography, race and legitimate sovereign affiliations.

‘These nations confront historical developmental vulnerabilities and challenges that are beyond their control. Thus, it is imperative for us to unite within regional groups and forge a novel form of international cooperation,’ he said.

Milestone UN General Assembly outing

Foreign policy analysts describe President Tinubu’s maiden UN outing and speech at the 78th Session of the General Assembly on September 18, 2023, as a milestone, exemplary, and aligning with his foreign policy focus.

The President’s speech highlighted five themes namely,
the need for global institutions and other nations to see Africa as a priority; an affirmation of democratic governance as the best guarantor of sovereign will, and the challenges posed by terrorism and violent extremism.

Other themes included the challenges of illicit mining and pilfering by extra-African powers and companies; and the threats posed by climate change.

The speech ingratiated the African and Nigerian publics to their own plight, as well as appealed to the sentiments of the developed world to partner with the developing world in a mutually benefiting relationship and equal terms.

‘We welcome partnerships with those who do not mind seeing Nigeria and Africa assume larger roles in the global community.

‘The question is not whether Nigeria is open for business. The question is how much of the world is truly open to doing business with Nigeria and Africa in an equal, mutually beneficial manner.

‘Many proclamations have been made, yet our troubles remain close at hand; failures in good governanc
e have hindered Africa.

‘But broken promises, unfair treatment and outright exploitation from abroad have also exacted a heavy toll on our ability to progress,’ he said.

Tinubu decried the menace of climate change and the pilfering of Africa’s resources with the active connivance of some countries and entities from the global North.

‘African nations will fight climate change but must do so on our own terms. Africa is nothing less than the key to the world’s future.

‘To achieve the needed popular consensus, this campaign must accord with overall economic efforts.

‘Foreign entities abetted by local criminals, who aspire to be petty warlords have drafted thousands of people into servitude to illegally mine gold and other resources,’ he stressed.

Commenting on the President’s UNGA speech, Prof. Jideofor Adibe of the Department of Political Science and International Relations, Nasarawa State University, Keffi, said the preamble of the speech spoke well to the different target publics.

‘Admitting issues with
domestic governance would be sweet music to the ears of the world leaders expecting the usual victim complex and begging bowl syndrome.

‘The bit about broken promises, unfair treatment and outright exploitation from abroad will also play well with African and Nigerian publics,’ the don said.

Nigeria-U.S. Relations

The U.S. has over the years been a very strong ally of Nigeria and Nigeria’s foreign policy under the Tinubu administration has been marked by continuity rather than any semblance of departure from the past.

U.S. Sen. Cory Booker, for instance, reiterated this disposition recently during the visit of a U.S. congressional delegation to Tinubu at the State House in Abuja, noting that Nigeria and the U.S. are partners bound by shared values of democracy, rule of law, and commitment to peace and good governance.

‘I share my enthusiasm about deepening partnership between Nigeria and the U.S. We know in America that there is no greater or more important partner for the U.S. on the African continent t
han its biggest country, its biggest democracy, and its biggest economy.

‘We know the investments we make in this country in different sectors, and our partnership on security and counter-terrorism are not just for Nigeria’s benefit but for both of our countries’ benefit.

‘You are a leader of particular character. You have the courage to do very difficult things, right at the beginning of your term. Something that many American leaders should look to.

‘Someone who believes so much in their people that they can make difficult decisions and know that their country is resilient and strong to endure so that it can emerge stronger on the other side,’ Booker said.

The U.S. has also recently announced the unveiling of an Open Skies Air Transport Agreement with Nigeria, which had provisionally been applied since 2000, that now establishes a modern civil aviation relationship between the two countries.

The agreement includes provisions that allow for unrestricted capacity and frequency of services, open route rig
hts, a liberal charter regime, and open code-sharing opportunities.

Commenting on these developments, U.S. Deputy Assistant Secretary, Bureau of African Affairs, State Department, Joy Basu, recently lauded Nigeria’s foreign policies, stressing that the money policies were conducive for businesses to thrive, as well as strengthening and positioning the nation’s economy for overall growth.

‘The U.S. is committed to fostering its collaboration with Nigeria in order to tackle myriad pressing issues and obstacles, which Nigeria, being Africa’s largest economy, is facing.

‘We are working closely with the U.S. Treasury, Nigerian authorities and African central banks towards ensuring public and private sector economic restoration, stability and prosperity across Africa,’ the envoy said.

In her view, UN Deputy Secretary-General, Amina Mohammed, said that over the past one year, Nigeria has witnessed progress from the reforms introduced by this administration to stabilize the economy with visible improvement.

‘The
Nigerian government has also been proactive in its foreign policy approach aimed at addressing security challenges in the country and the sub-regions as demonstrated by the hosting of an African counter-terrorism meeting last month.

‘There have also been other notable initiatives such as the nationwide digital literacy programme and the expansion of the broadband infrastructure to bridge the digital divide and empower our people in this digital age,’ she said.

Observers believe that Tinubu’s foreign policy has been remarkably consistent, pragmatic, vibrant, bold, brave, and uncompromisingly Afrocentric, gauged in the national interest.

They posit that Nigeria’s foreign policy focus under Tinubu has been a continuation and consolidation of the nation’s traditional foreign policy, predicated on an ‘Africa First’ mantra, and a reaffirmation of his inaugural speech pledge one year ago.

Source: News Agency of Nigeria

Fitness and Wellness Experts have emphasised the crucial role of physical exercise in promoting mental health and balanced lifestyle.

They gave the advice during a Fitness and Wellness Awareness session, hosted by the FitMyke Fitness Foundation, in collaboration with Evolve 360 Gym in Abuja.

A guest speaker and health expert, Aisha Bubah, in her presentation, emphasised practical strategies for integrating exercise into everyday routines.

Bubah said that even small changes, like daily stretching or short workouts, could lead to significant improvements in overall mental health of an individual.

She encouraged the participants to make exercise a regular part of their lives.

Earlier, the founder of FitMyke Fitness Foundation, Michael Uwejeyan, had emphasised the importance of such initiatives in promoting a balanced lifestyle.

Uwejeyan said the goal was to create events that encouraged physical fitness and to also highlight the integral role of exercise in maintaining overall mental health.

‘We are thril
led with the positive response and the level of engagement from our community.

‘It is clear there is a strong desire to learn about the benefits of exercise for overall well-being, and we are committed to continuing these efforts to support our community’s health.’

‘The foundation plans to offer follow-up sessions and additional resources to ensure ongoing support for its members and the broader community.

‘This event marks a significant step towards promoting a more integrated approach to mental health and overall wellness, reinforcing the message that exercise is a key component of a balanced lifestyle.

‘FitMyke Fitness Foundation has a longstanding history of organising health-related awareness programmes. Beyond this recent event, the Foundation has hosted awareness programmes for various health related issues, aiming to improve individual wellbeing,’ he said.

The event featured a variety of activities designed to engage participants and highlight the importance of regular exercise.

Expert trainers
led an invigorating workout session, demonstrating various techniques and routines that attendees could incorporate into their daily lives.

Source: News Agency of Nigeria

Some administrators in the healthcare sector have called for strategic reforms that would improve healthcare service delivery in the country.

They spoke with the News Agency of Nigeria (NAN) in Lagos, while proposing areas of improvement during their appraisal of President Bola Tinubu’s One Year performance in the health sector.

Prof. Adetokunbo Fabamwo, the Chief Medical Director of Lagos State University Teaching Hospital (LASUTH), lamented the low uptake of the National Health Insurance Scheme (NHIS), attributing its low uptake to the limited scope of the insurance cover.

‘For example, if you take a basic insurance plan, you can get free consultation, free medication and few free tests.

‘You won’t be able to access surgery and other treatments, unless you pay out-of-pocket.

‘To make it attractive to citizens, the premium can be raised. As we speak, the premium is low, about N850 per month. If you raise the premium and increase the coverage, people would be more interested,’ he said.

The CMD also appe
aled to the Federal Government to revitalise moribund medical research institutions across the country, noting that robust and functional medical research institutions would stimulate opportunities to solve health challenges locally.

He emphasised that medical researchers producing their research results would increase medical knowledge, improve patient care, develop new medicines or procedures, and help in formulating policies.

Commenting, the Chief Medical Director, Federal Neuro-psychiatric Hospital Yaba, Dr Olugbenga Owoeye, said there was need for more support to further enhance performance of the hospital, calling on the Federal Government for subsequent financial supports.

According to him, some buildings in the hospitals are old and need to either be renovated or rebuilt, saying that the Federal Government stepping forward to rebuild the structures will be a welcome development.

Owoeye said that the existing 90-bed drug rehabilitation centre of the hospital was grossly inadequate and needed to be
expanded.

‘To sustain development of the hospital and further enhance its operations, there is need for more support.

‘Some of the buildings are old and there is need to either remove them and rebuild or renovate. This will also improve on the hospital’s mental health care services

‘There is also need for expansion of our drug rehabilitation centre; we have 90 bed drug rehabilitation center for both male and female, and as at now, the facility is overstretched.

‘So, a purpose built drug rehabilitation centre by the government, will be a welcome development,’ Owoeye told NAN.

Also, Dr Livinus Abonyi, a Medical Imaging Scientist, decried the level of hardship and high cost of living in the country, calling on the government to intensify efforts to address the situation and stabilise the economy.

Abonyi said that leaders of governments at all levels need to win the trust of their citizens through their actions and not mere talks.

Abonyi, Head of Department, Medical Radiography at the University of Lagos,
College of Medicine, said that most political leaders were disconnected from the led, such that government policies were antithetical to the welfare of citizens.

‘The needs of the citizens appear to be at variance with that of the government. This has created a wide gap in the general acceptance of government policies and programmes.

‘These adverse characteristics of leadership invokes disloyalty, lack of trust or patriotism to the Nigerian state.

‘Leaders should be transparently exemplary in all their dealings, thereby, leading by example.

‘Governments at all levels should address the issue of trust deficit. The current investment in infrastructure is not more important than in investing in the mindset of Nigerians.

‘Corruption in government should be fought to a stand still,’ he said.

Abonyi, therefore, called on the government to tackle all forms of poverty and hunger with greater vigour, in order to reduce the burden of ill health which adversely affects the country’s health indices.

‘It is now app
roximately one year from the last inauguration and a very germane question to ask is ‘how far, so far’?

‘The cost of living is so high with prices of goods and services, particularly drugs, skyrocketing out of the reach of an average Nigerian.

‘Nigerians are suffering and the end is not in sight.

‘The adverse effects of the current Nigerian government policies are excruciatingly painful to the citizens. Life is becoming more unbearable for the citizens.

‘A good example is the strangulation of civil servants with an obsolete minimum wage of over several years ago when a 50 kilograms bag of rice was N7,500 compared to now when the same bag of rice is going for N75,000.

‘Should a responsive leadership continue to dribble her citizens without coming up with a reasonable wage that may assuage the suffering of the workers?’ he asked.

Abonyi, emphasised the need for transparency of governance and involvement of experts to professionally proffer solutions to the nation’s challenges across sectors.

Similarly, T
aiwo Obindo, President, Association of Psychiatrists in Nigeria (APN), urged the government to address the insecurity challenge of the country.

Obindo, ascribed terrorism and banditry as key threatening factors to achieving food security in the country.

According to him, there is no justification for government’s intervention in the form of loans, fertiliser provision or inputs to agriculture when security of life and properties of those that would work on the farms cannot be assured.

He lamented that the high cost of transportation was responsible for the hike in the prices of food commodities across the country.

The psychiatrist emphasised that the solution to hunger and other challenges depended on restoring security of the country.

Obindo also highlighted that more Nigerians were distressed now more than before, resulting to quite a number of mental health conditions.

He listed the social factors to include high cost of living, insecurity, kidnapping, financial problems, inflation, child abuse, rape
, broken homes and broken marriages, traumatic experiences and degrees of violence among others.

Obindo explained that people who were predisposed to the social factors were more likely to develop mental health issues particularly this period the country was faced with lots of economic challenges.

He decried the rate of multiple taxations on small scale businesses and individuals, stressing the need to streamline the taxes.

According to him, an average Nigerian is disposed to more pressure and distress now than before.

He called for intensified efforts by the Federal Government to release people of these pressures in order to safeguard mental health of its citizens.

‘I cannot say I have seen any major shift when it comes to policies, when it comes to decisions and when it comes to the health and mental health of Nigerians.

‘Looking at the pressure on an average Nigerian; with the increasing inflation, with the challenges that are happening around and pressure from overtaxing on them.

‘One can say that
an average Nigerian is put under pressure; more Nigerians are more distressed now than before. And this may predispose more Nigerians to develop mental health conditions,’ Obindo said.

The APN President, therefore, called for swift implementation of the Nigeria’s National Mental Health Act, to pave the way for adequate protection of Nigerians mental health.

He explained that the National Mental Health Act 2021 was assented to by President Muhammadu Buhari on January 2023, saying that up till now, the Federal Government was yet to implement that Act.

‘Before Buhari left, an Act was assented to by the President in 2023 and since the Tinubu led Administration came; the Federal Ministry of Health is yet to implement that Act.

‘Every push for its implementation is meeting with a major hindrance from the Federal Ministry. The beginning would have been the establishment of a department in the Federal Ministry of Health and up till now, nothing has been done.

‘The department is meant to be in the forefront of s
eeing to the rights of people with mental health conditions; setting up a review committee, an assessment committee and mental health fund, but, up till now, we have not seen much.

‘But, if we look at the effort of the mental health programme in the Federal Ministry; we can see a dilemma of hope; we have the Suicide Prevention Strategic Framework on ground, which is meant to decriminalised attempted suicide – giving those who attempt to take their lives a rebrief, sending them for treatment rather than prosecuting them.

‘So, on that front, maybe we say we made a tentative step,’ Obindo said.

Obindo said there was need for the integration of mental health services into the Primary Health Care system in Nigeria.

According to him, the integration has become imperative to create room for more and easy access to mental health services at grassroot as majority of the nation’s population dwell in the rural areas.

He said: ‘Over 60 per cent of the population dwell in the rural areas, but mental health services/f
acilities are hardly available in those areas.

‘If the services for mental health can be integrated into primary healthcare; it means that even from primary health centres people can now access these services and it can bring protection to people working in that space.

‘Similarly, it will create room for not only easy access to the services, but also for its readily availability, promote awareness and equally reduce mental health stigmatisation to a great extend.'(

Source: News Agency of Nigeria

The Africa Centres for Disease Control and Prevention (Africa CDC) and the Coalition for Epidemic Preparedness Innovations (CEPI) signed a Memorandum of Understanding (MoU) on the sidelines of the 77th World Health Assembly in Geneva, Switzerland.

The MoU, signed on Tuesday, is to expand their partnership to strengthen epidemic and pandemic prevention, preparedness and response in Africa.

United by a shared mission, the organisations will collaborate to boost regional vaccine research, development, and sustainable manufacturing leadership and capabilities in Africa.

This will foster a faster and more equitable response to emerging infectious diseases.

Dr Jean Kaseya, Africa CDC’s Director General, said: ‘The New Public Health Order calls to action to build resilient health systems capable of managing recurrent, high-impact infectious disease and outbreaks; an action-oriented partnership such as this is at the core.

‘This collaboration with CEPI in research, clinical trials, and local manufacturing of med
ical countermeasures will elevate Africa’s readiness against outbreaks, epidemics, and pandemics.

‘This will consolidate the continent’s preparedness far beyond where we were prior to the COVID-19 pandemic.’

Speaking, Richard Hatchett, CEPI’s Chief Executive Officer, said: ‘African leadership and capabilities will be key for ensuring the continent can respond to increasingly frequent infectious disease outbreaks.

‘The preparatory work to manage these outbreaks, from greater vaccine manufacturing capacity to clinical trial readiness, must be undertaken now.

‘CEPI stands ready to support Africa CDC in the realisation of these goals and to further strengthen Africa’s preparedness and resilience against future outbreaks.’

The partnership is in line with the African Union’s (AU) ambition to produce 60 per cent of the continent’s vaccine needs in Africa by 2040 under the Africa CDC’s Partnerships for African Vaccine Manufacturing (PAVM).

As such, the expanded partnership will ultimately focus its efforts on e
nhancing research and development, building a workforce as well as supply chain optimisation to support resilient health systems.

This ambition will increase vaccine sovereignty and reduce external reliance, helping prevent a recurrence of the vaccine inequity seen during the COVID-19 response in Africa.

To boost vaccine accessibility and efficiency and meet this goal, there is also a need to invest in vaccine RandD and manufacturing innovations, amongst others, and build a resilient regional supply chain.

To that end, Africa CDC and CEPI will coordinate to fund innovations accelerating speed, scale, or accessibility for initial implementation with African manufacturers.

This investment will support sustainable manufacturing for routine vaccinations in Africa, and-in the event of an outbreak-these facilities can be mobilized to produce response vaccines promptly.

In alignment with Africa CDC, the partnership also aims to bolster Africa’s research ecosystem and clinical trial infrastructure, including tar
geted capacity strengthening through CEPI’s Research Preparedness Programme- which, directed by regional experts, aims to build capacity for conducting high-quality Phase 3 efficacy trials.

The organisations will also collaborate to enhance vaccine safety protocols, biosecurity, pathogen surveillance, investment in capacity building, and other areas that help ensure overall African readiness for emergency vaccine responses.

Source: News Agency of Nigeria

The Abuja School of Social and political Thought (TASSPT), has called for the adoption of human development approach in determining the new national minimum wage for Nigerian workers.

The Director of the School, Dr Sam Amadi, gave the advice at a dialogue with the theme ‘Determining fair minimum wage for Nigeria workers’ organised by the school on Tuesday in Abuja.

Amadi said the school deemed it necessary to add its views on the way forward in arriving at an appropriate minimum wage which had wide social implications on the economic growth, poverty reduction, social and political activities.

He said that minimum wage as provided for in the international labour law and Nigeria constitution allowed workers to earn a living wage that guaranteed their wellbeing and life of dignity.

He said government and labour should not be disagreeing over minimum wage, as if there was no approach to arrive at an appropriate minimum wage.

‘The first approach is to ask ourselves, what are those basic foods, goods that a pe
rson needs today to escape poverty?

‘The National Bureau of Statistics (NBS) in designing their poverty methodology, first look at basket of goods. They ask themselves, what’s a basket of food and services that somebody needs daily?

‘So for that basket of goods and services, you now ask, what’s the price, the cost on the average, what somebody would need?

‘Let’s assume for a family, the typical standard, a wife, husband, and four children. You calculate it. That gives you the basis. If people have this income, will they be able to survive at the basic level,’ he said.

Amadi said what the school was advocating was a human development approach that first ask what people need in Nigeria to escape poverty? We call it the quality of life approach.

‘When you have that, it forms the based. Then, in every other year, you use the approach called cost of living adjustment, which we employ in our departments.

‘It means that you re-index that benchmark to inflation every year. Someone has done an assessment of that
.

‘That assessment says, if you use COLA, which is what NBS uses every year to look at poverty, you will discover, a very interesting analysis.

‘What you will discover is that 75,000 is the proper price, meaning that without changing the base of the salary, from 2018 to today, adjust for all the inflation that are officially captured, that base will give you today 75,000,’ he said.

He also said that in determining the minimum wage, the rate of Naira to the dollar should be considered.

Amadi recalls in 1981 the minimum wage was N1,500 with one dollar exchanging for N0.62 totaling 2,419 dollars per month, while in 1991 it was increased to N3,000 at 5.91dollars in which the value dropped to 302 dollars.

He also explained that when it was increased to N30,000 in 2015 the dollar was exchange for N368 reducing the value of the minimum wage when compared to dollar at 56 dollars.

Amadi said that for the proposed N54,000 by the Federal Government at current exchange rate the dollar value would be about 36 dollar
s.

‘Today, minimum wage that’s been taxed, amounts to 66 dollars. Look at the drop and the one they are proposing now with inflation, will amount to less than 10 dollars,’ Amadi said.

He said that in arriving at a new minimum wage, activate Chapter 2 of the Constitution, which said that people have a living wage, a right to live, should also be activated.

He said that the argument should not be about viability of the state to pay, saying its a function of the concept of development that the state has.

Amadi said that contrary to fear that the minimum wage would lead to labour loss, it would actually enhance labour productivity, address poverty as well as lead to sustainable economic growth.

Source: News Agency of Nigeria