₦airaland Forum

OFFICE OF THE VICE PRESIDENT



PRESS RELEASE

ADDRESS BY HIS EXCELLENCY, PROF. YEMI OSINBAJO, SAN, VICE PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA, AT THE NIGERIA – CANADA INVESTMENT SUMMIT 2019 (NCIS – 2019), ABUJA, ON MONDAY, 4TH NOVEMBER 4, 2019


Protocols



I am extremely pleased to be here with you at the Nigeria-Canada Investment Summit 2019. I was here at the 2018 summit and I mentioned then, that the summits are important processes, not just events in deepening the socio-economic ties between Nigeria and Canada. There is no question that both our governments and business communities realize that there is enormous potential in our relationship.



Indeed since 2018, aside from summits in both countries, the sheer number of high-level contacts and visits of so many high-level officials, really endorse the fact that this is a very important relationship.



In 2018, the Governor-General of Canada, and Commander-In-Chief of the Armed Forces of Canada, Her Excellency Julie Payette visited. There was also an earlier working visit of Honourable Marie-Claude Bibeau, Canada’s Minister for International Development and La Francophone (now Minister for Agriculture and Agri-Food) and thereafter, Canada’s Minister in Charge of Immigration, Honourable Ahmed Hussein.



As we have heard, two Royal Canadian Navy ships berth to Lagos for very important joint training in security in the Gulf of Guinea. And as we have also heard, this was the first in the 108 years of the existence of the Royal Canadian Navy.



Our trade and commerce relationship have also been long-standing, and Nigeria has remained a major trading partner to Canada in Africa. We’ve also heard that bilateral trade is in the order of $984 billion. When that is put in context, we really have a long way to go. Canada’s imports include; mineral, fuels and oils, cocoa, rubber, lead and processed foods. Canada’s exports include; vehicles, equipment, manufacturing equipment, software and aircraft. We also have in place a double taxation agreement, which came into force I believe sometime in 1999 and we expect that our Foreign Investment Promotion and Protection Agreement (FIPPA) will be concluded and ratified by both countries as early as possible in 2020.



We expect that in the first quarter of 2020, we ought to have that agreement in place. This summit is particularly important, we have much richer private and public sector participation than before. The focus is on mining, power, agriculture, housing, education and technology. These are sectors that Nigeria has identified as crucial to the success of our Economic Recovery and Growth Plan. And we are determined to work collaboratively with investors to create the best possible environment for business in these sectors. We are determined, not just to ensure that we keep to the plans that we put in place, but that we encourage all our partners to work with us.



In mining, our Mining Industry Growth Roadmap lays out the scale of our ambitions in this sector and it goes beyond just extraction and exportation.



We intend to create a broad spectrum of value-added services by fully maximizing the abundant opportunities for mineral resource beneficiation, exploiting the possibilities in support services and support industries that will be nurtured around core mining activities. We are, of course, all excited about the prospects evident in the Spring Fountain and Bullion Mart collaboration and we look forward to that coming to fruition.



In the power sector, we believe that investment in renewable energy is bound to benefit from our focus, especially on off-grid and mini-grid options for delivering power to our huge population and commerce. Our Energizing Education Programme, which is installing private solar power facilities in several of our universities, and the Energizing market programme also, which is private solar power in markets and economic clusters all around the country; these have demonstrated that businesses are prepared to pay for regular power supply, and that this is a tremendous area of growth for renewable energy, for business and commerce in that respect. Given the very high radiation all around the country, the solar option makes perfect sense.



In agriculture and agri-business also, there are tremendous prospects. Our government believes that the next few years are crucial for our vision of food security and especially self-sufficiency in the production of different food and cash crops. But the whole agri-business value chain is open for investment. The sheer size of our market now, and in the immediate future, the export potentials point inexorably to the importance of investment in this sector.



Housing is also a crucial area of focus for us. With a housing deficit of about 17 million, the demand is obvious. Our Family Homes Fund is a special public-private sector fund dedicated to our mass low-cost housing scheme. Solving the off-taker constraints also calls for mortgage finance solutions. There is plenty of room for activity in the housing sector.



The next few years promise to be exciting for industry, trade and commerce in Nigeria, especially with the coming into force of the African Continental Free Trade Area Agreement. Nigeria remains the most logical destination for reaping maximum benefit from these agreements. Consequently, we have devoted considerable attention to improving the Nigerian business environment and we have by all accounts, recorded notable success.



Since 2016, we have risen by an aggregate of 39 places on the World Bank’s Ease of Doing Business rankings. Just two weeks ago, the World Bank also rated Nigeria as one of the 10 best reforming economies in the world. We are set for business, and we look forward to continued engagement with the Canadian government and business community in the coming months and years.



Let me commend the Nigerian High Commissioner to Canada His Excellency, Ambassador Ade Asekun, and his team, and Mr. Taiwo Odutola, MD/CEO of the Nigerian Investment Summit, for the incredible hard work that they have put into this summit and previous summits and engagements here and in Canada.



We welcome all the Canadian businesses, government representatives, and all our friends, partners from Canada to Abuja, and to this summit. In particular, we welcome the distinguished delegation from the City of Brampton, and we certainly look forward to meeting with them.



I urge all our friends from Canada to be sure to take in the sights and sounds of Abuja while you are here and, of course, indulge in some of our well-known culinary delights. My recommendation last year was Suya, this year it is our world-famous jollof rice! I would like you to take part in it.



It is now my special privilege and pleasure to declare open the Nigeria – Canada Investment Summit 2019.



Thank you very much.



Released by:

Laolu Akande

Senior Special Assistant to the President on Media and Publicity

Office of the Vice President


November 2019

PHOTOS: H.E Vice-President Prof. Yemi Osinbajo SAN declares open The Nigerian Investment Summit 2019 at The Transcorp Hilton Hotel, Abuja. Photos; Tolani Alli

How Can Osinbajo persecute obla, the law is taking it course and this man is blaming someone for his downfall.
He should go and face the law.

Here is a recap of what we were up to last week ������

Please follow the journey! https:///KO2elQfNhC

IS PMB AN ECONOMIST?
In May 2015, Buhari was inaugurated

In Dec 2015, Argentina's President Macri was inaugurated

1. International monetary fund (IMF) offered Nigeria & Argentina loans

Argentina received $50bn from IMF

Buhari declined.
2. IMF asked Nigeria & Argentina to devalue their currencies

Argentina devalued their currency by 566%.

PMB resisted devaluation of Naira.

3. IMF asked Nigeria & Argentina to stop defending their currency.

Argentina stop defending their currency through their central bank.
CBN defended our currency & put dollar withdrawal limit to $1000 monthly. That was when some foreign students rain curses on Buhari.

LET'S COMPARE ARGENTINA & NIGERIA TODAY:

Argentina can't pay the $50bn they borrowed from IMF.

Nigeria has 0.0000 debt from IMF.
Today, inflation (cost of goods) in Argentina is 54.3%

Inflation in Nigeria is 11.24%

Argentina now puts monthly dollar withdrawal limit to $200.

Nigeria now lifts its dollar withdrawal limit.
Had Buhari not held his ground and rejected IMF's offer, we might have ended up like Argentina.

Nigeria is heading towards the right direction and I'm proud to be part of this evolution.

Credit : Valiant Samson Idowu

It has been brought to our attention that an old video of Hajia Safiya Umar, the Acting Secretary to the FCT Social Development Secretariat is making the rounds again in Social Media. For the sake of public information, please be assured that regarding the matter of the alleged harrassment of women in Abuja and the old video, the Federal Government has since taken concerted actions. This is particularly regarding the raids of women in night clubs and the streets of Abuja that were purportedly carried out by AEPB and the FCT Joint task force.

Under the direction of the Presidency, the National Human Rights Commission(NHRC) has constituted a special panel of investigation to look into these issue not just in Abuja but in other parts of the country.

The panel will be sitting in the 6 geo-political zones as scheduled below:

Abuja - 14-16 Nov 2019
Lagos - 20-22Nov 2019
Kaduna - 2-4 dec 2019
Owerri- 13-14 Jan 2020
P/H- 16-17 Jan 2020
Gombe- 27- 29 Jan 2020

Interested members of the public are advised to submit memoranda to NHRC.

Please ignore the recirculation of the old video as government is doing the needful and will keep the public abreast through the work of the NHRC.

The decision by the National Assembly to amend the Deep Offshore (and inland basin production sharing contract) Act is a huge victory for Nigeria. The articles and clauses of complex legislation may not appear to be the stuff to set pulses racing. But there should be no doubt: this is a watershed moment for our economy, our institutions and our people.


As a result of this amendment, Nigeria could earn an extra billion dollars a year from our oil. These are funds that will help restore our schools and hospitals, repair our roads and infrastructure and give our armed forces the support they need to keep us safe. That is a big win. But it is about more than just the money.

There is no doubt that the Deep Offshore Act had to change. The original law that provided for the operation of oil licences in deep water was introduced by the military regime back in 1993. New techniques in drilling and computer modelling were then beginning to emerge, allowing for the exploitation of oil in water depths that had previously been impossible. Fiscal terms were based on the industry’s long-term outlook for oil prices of around USD18-20/ barrel, above which profits were hardly taxed at all.



Crucially, the 1993 contract provided only for a review of terms. Oil passed USD20 barrel in 2003 but companies could, and did, refuse to accept any changes. The ‘business as usual’ lobby made sure that every attempt until now to amend the law ended in failure. But more than 25 years on, advances in technology have substantially reduced costs to industry and oil has consistently traded way above that anticipated range. For international oil companies, this has been a regulatory bonanza. A better balance between reasonable profits and a fair tax regime would years ago have delivered the billions we need to invest in Nigeria’s future.



The amendment calls time on this contractual anachronism. But it should not be seen in isolation, or as a ‘one off’. President Muhammadu Buhari pushed for the amendment as part of an ambitious programme to overhaul a corruption-saddled and under-performing oil and gas sector.

This is the key to the delivery of a more diverse and productive economy that will provide the jobs and sustainable growth we need in the coming decades to end poverty and raise living standards. Headline increases in our GDP will be matched by policies that ensure growth is inclusive and evenly shared, and provide protection and opportunity for the most vulnerable.



The President has worked with the 9th National Assembly, its leadership and members, to deliver this amendment. This is the kind of partnership that we have seen all too rarely since the restoration of democracy in 1999. We have shown how national institutions, the executive and legislature, can come together to work for the common good and the National Interest.

A sense of patriotism and the drive to deliver reform is replacing the sterile self-interest that has for too long dominated public administration. The passage of the amendment shows that the 9th National Assembly has the ambition and commitment to help make the real changes Nigeria needs if we are to move forward. The Senate and House of Representatives have shown that we can replace exploitation of the system by the few for the benefit of the few with a new spirit of co-operation – to build a fairer, more efficient system for the benefit of rich and poor alike.



Our vision is for an oil and gas industry that is attractive to investors and competitive in a crowded international market. Operations should be driven by commercial principles, transparent and free from political interference. We will deliver a new deal for host communities and proper guarantees for environmental standards.

The Collins English dictionary defines a free-for-all as “a situation in which several people or groups are trying to get something for themselves and there are no controls on how they do it.” We need an oil industry that is fair for all its stakeholders, to move towards a new partnership that ends the adversarial dysfunction and searching for loopholes that has become the norm.



The amendment is important for three reasons: it brings our laws and taxes into the 21st century; it shows that our institutions are effective and resolute in support of the National Interest; and that President Buhari means business. As Britain’s wartime prime minister Winston Churchill once said, ‘This is not the end. It is not even the beginning of the end.’ We have a lot of work to do. But this amendment shows where we are going – and that now, within our grasp, is a Nigeria that works for us all.



Kyari is the Chief of Staff to the President

OFFICE OF THE VICE PRESIDENT
PRESS RELEASE


*VP adds: With vision, hard work & commitment to public good, our country can achieve possibilities – Osinbajo

*Attends 60th anniversary of Africa’s first TV station, WNTV, in Ibadant demonstrated the capacity of the Nigerian mind to conceive and achieve anything no matter how complex or difficult. Secondly, it demonstrates how visionary leadership can inspire and lead people from the lowest levels to the high points of human imagination.

“Every generation has a historic responsibility to reach for the highest peaks that human capacity can achieve. Today we are at the most advanced moment in science, technology and innovation in human history” – Vice President Osinbajo

REMARKS BY HIS EXCELLENCY, PROF. YEMI OSINBAJO, SAN, GCON, VICE PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA, AT THE 60TH ANNIVERSARY OF WESTERN NIGERIA TELEVISION, IBADAN, ON THE 31ST OF OCTOBER, 2019.

PROTOCOLS

It is a special honour to be here today, to celebrate the pioneers of the first television in Africa. Exactly 60 years ago today, Chief Obafemi Awolowo, Premier of the Western Region, then flanked by Governor General, Sir John Rankine, Chief Anthony Enahoro, the region’s Minister of Information, and Chief T.T Solaru, first Board Chair of Western Nigeria Broadcasting Corporation, formally entered the history books by commissioning the Western Nigeria Television, the first in Africa; and ahead of China in 1962, Canada in 1967, New Zealand in 1960, and several European countries, including the Netherlands in 1960, Ireland in 1961, Greece in 1966 and Malta in 1962.

It was not just first in Africa, but first in many parts of Asia and, as you can imagine, even in Europe without even talking about Eastern Europe.

The event was historic for three reasons. Firstly, it demonstrated the capacity of the Nigerian mind to conceive and achieve anything no matter how complex or difficult. Secondly, it demonstrates how visionary leadership can inspire and lead people from the lowest levels to the high points of human imagination.

Thirdly, it exemplifies the use of public resources for the public good. WNTV was built to inform, to educate and entertain. As Papa Awolowo himself said on that day sixty years ago, television is a powerful influence for good.

It would ordinarily have been unimaginable that somehow in a part of the yet to be independent Nigeria, a man and his team would build a television station in three months, the first as we have seen, in many parts of the world. But for the man, it was not so surprising because Papa (Awolowo) had laid out a plan for the rapid development of the Western Region. It included physical infrastructure and human capacity development.

The plan included free and compulsory education. As of the date of the inauguration of WNTV, almost a million children were in school in the Western Region. Forty-one per cent (41%) of the Western Region’s budget was spent on education, the highest proportion anywhere in the free world, the highest proportion at that time anywhere in the world.

In the free world in particular, it was obvious that those who understood the value of education used it as a powerful proponent for the advancement of their people. Papa Awolowo clearly understood that so long ago.

Today, as we celebrate the 60th anniversary of the establishment of WNTV, we also celebrate what is possible in our nation and states, what vision, hardwork and a commitment to the public good can do.

As Ambassador Yemi Faronmbi said, the celebration of the phenomenal achievement in 1959 would be wasted unless we recognize that the achievement represents sturdy shoulders for us to stand on. Today we can do more and the vision of Awolowo was to build a people capable of excelling beyond even his own achievements.

Every generation has a historic responsibility to reach for the highest peaks that human capacity can achieve. Today we are at the most advanced moment in science, technology and innovation in human history.

The smartphones you have in your hands have more computing power than all the computing power that the Apollo spaceship that took men to the moon in 1969 had. All things are possible and we are able! Let us be inspired by Papa’s words, that our only limit is our imagination.

Congratulations to the Foundation for Ibadan Television and to all of us friends, families and admirers of the pioneers.

Thank you very much and God bless you!

Released by:

Laolu Akande
Senior Special Assistant to the President on Media and Publicity
Office of the Vice President
31st October, 2019

Vice President Yemi Osinbajo SAN, attends The 10th Anniversary of The National Prayer Breakfast Meeting at The International Conference Centre Abuja. Photos: Tolani Alli

OFFICE OF THE VICE PRESIDENT
PRESS RELEASE


The National Economic Council (NEC), comprising the 36 Governors of the Federation, FCT Minister and Governor of the Central Bank, have commended President Muhammadu Buhari and Vice President Yemi Osinbajo, SAN, for driving Ease of Doing Business reforms, which has seen Nigeria move up fifteen (15) places in the World Bank Doing Business Ranking for 2020.

The NEC, chaired by the Vice President, praised President Muhammadu Buhari for setting up the Presidential Enabling Business Environment Council (PEBEC), and commended the Vice President for vigorously driving the Ease of Doing Business reforms, noting that Nigeria being named among the Top-10 improved economies for the second time in three years is commendable.

Last week, the World Bank’s 2020 Doing Business Index (DBI) ranked Nigeria 131 out of 190 countries, up 15 places from 146th position last year.

The report also named Nigeria one of the top 10 most improved economies in the world. Nigeria is one of only two African countries to make this highly prestigious list.

With this year’s leap, the country has improved an aggregate of 39 places in the World Bank Doing Business index since 2016. The global body’s Doing Business Index is an annual ranking that objectively assesses prevailing business climate conditions across 190 countries based on 10 ease of doing business indicators.

NEC also received the regular financial updates by the Minister of Finance, Budget and National Planning, Zainab Ahmed, including the Excess Crude Account (ECA), reporting that its current balance stood at $324,035,696.29; the Stabilization Fund Account balance which stood at N28,560,710.55; and the Natural Resources Development Fund Account, which has a balance of N70,691,826,511.84.

Other highlights of NEC’s 98th meeting were the presentation to the Council on Budget estimate for the Federation Account Allocation Committee (FAAC) meeting and other related activities for the year 2019 by the Minister of Finance, Budget and National Planning; and a presentation was also made to Council on Clean Nigeria: ‘Use of Toilet’ campaign, by the Minister of Water Resources.

The Minister of Health also presented updates on Disease Control; Polio, Routine Immunization and Primary Health Initiative in Nigeria, while emphasizing on the need for states to be strengthened in the area of health security in the country.

NEC also received briefing on NNPC’s efforts in addressing PMS (petrol) diversion, round tripping and smuggling.

Laolu Akande;
Senior Special Assistant to the President on Media and Publicity
Office of the Vice President
29th October, 2019

PHOTOS: H.E Vice President Prof Yemi Osinbajo presides over today’s Federal Executive Council (FEC) Meeting. 30/10/2019

PHOTOS: H.E Prof. Yemi Osinbajo currently presiding over the National Economic Council Meeting at the Council Chamber of the Presidential Villa, Abuja.

Progress is not an illusion, it happens - George Orwell

The World Bank’s 2020 Doing Business Index (DBI) which has ranked Nigeria 131 out of 190 countries, up 15 places from 146 positions last year, up from 170 since 2014 is a testament to the progress of our nation. For those wondering, the Doing Business Index is an annual ranking that objectively assesses prevailing business climate conditions across 190 countries based on 10 ease of doing business indicators.

This celebrated feat would not have been possible without the much needed reforms implemented by this Administration over the past four years through the establishment of the Presidential Enabling Business Environment Council (PEBEC).

PEBEC has the aim of minimizing the constraints that come with running businesses in the country works towards the fulfillment of the projections of the Economic Recovery and Growth Plan (ERGP 2017-2020), which strives to deliver sustainable economic growth in Nigeria by investing in our people, and building a competitive economy. Some of the strategies that brought about this feat include cutting down the time it takes to register a business through the use of the electronic platform, new grid connections for electricity, upgrading election systems for imports and exports and also educating business owners on vital business strategies.

Since 1995, the Nigerian Investment Promotion Commission Act has taken steps to dismantle years of controls and limits on foreign direct investment (FDI), opening nearly all sectors to foreign investment, allowing for 100 percent foreign ownership in all sectors (with the exception of the petroleum sector, where FDI is limited to joint ventures or production sharing contracts), and creating the Nigerian Investment Promotion Commission (NIPC) with a mandate to encourage and assist investment in Nigeria. The Government has introduced several programmes to boost FDI, notably in agriculture, exploitation and mining, oil and gas extraction, as well as in the export sectors. Tax incentives are granted to pioneering industries deemed beneficial for the economic development of the country and employment of its workforce (such as clothing); allowances facilitating capital investments and the deduction of interest on loans for gas companies are few reforms aimed at promoting public-private partnerships and strategic alliances with foreign companies.

The implementation of various strategies in pursuit of increasing the ease of doing business has had and continues to impacts on entrepreneurs in Nigeria. One of whom is Ola Brown, founder of Flying Doctors Nigeria, a medical emergency services company, whose business has been transformed by the review of the requirements for Nigerian visas in order to make it more assessable and customer-friendly to improve the country's business climate by the Nigerian Immigration Service (NIS). She disclosed during her interview with CNN how a simple policy change has transformed her business, allowing her the comfort to bring patients to Nigeria without having to get a visa in advance.

Speaking in detail at the Lit Subnational Tour organized by The Presidential Enabling Business Environment Council and the Lagos State Government, Dr. Brown spoke about how the Visa on arrival policy has enhanced her business and ensure better and faster healthcare delivery. “For me, visa on arrival has changed the way my business runs forever. Flying Doctors like every air ambulance service in the world is focused on moving patients from an area where there is an overwhelmed level of care to a more suitable level of care.”

She went further to illustrate the numerous economic opportunities for not just her business but several others catering to the value chain: “imagine trying to move an American or a European that’s had an accident in Chad into a Nigerian hospital, you have to move them to the center of Chad first and wait two days for a visa there while the patient is critical before you can get them into Nigeria. However, now we can fly directly there and bring them straight into Lagos, they get their visa on arrival when they get to Lagos and we can take them to hospital and I will tell you what that does, each of these patients are intensive care patients, they spend around $50, 000 each. So you can imagine if we are bringing one thousand to five thousand of those patients every year into Lagos, It just props up my business. The business services are making money because now they are making money from their charges when they issue visa. The hospitals are making money; the doctors can be paid better salaries. Even sometimes the relatives have to fly in to stay in hotels in Lagos. So it is a really huge boost to the economy.”

Founder of Farmcrowdy, Onyeka Akumah, remarked about his firm’s progress operating from Lagos under a better business environment brought about by the Ease of Doing Business Reforms Policy. He spoke about the strides of the Corporate Affairs Commission, CAC, under the new policy. He said: “When investors are coming into the country, it’s a lot easier for them to locate on their phone where the organization is across the country. So CAC registration is not just allowing people to register online easily but it also makes customers discover you online and that has been beneficial to us.”

The Ease of doing business policy of the federal government in collaboration with the state governments is aimed at ensuring that investors and entrepreneurs are able to carry out their business activities with little or no impediments or obstacles.
The policy is hinged on implementing enabling business environment interventions across the country with Federal Government ministries, departments and agencies working to ensure that processes and regulations are simplified and automated to ensure easier, faster and stress free business environment. Key features of this initiative include ease of business incorporation, trade across borders, prevention of double taxation, faster registration of property, introduction of visa on arrival, and successful legislation of a new Company and Allied Matters Bill 2018, among many others.

Subsequently, another vital reform that resulted in Nigeria’s progress as seen in the World Bank’s 2020 Doing Business Index (DBI) is the integration of more agencies into customs electronic data interchange system, and the introduction of an e-payment system for port authorities, thus speeding up both exports and imports.
Over the past 3 years, Nigeria has implemented more than 140 reforms all aimed at improving how business is done in the country. The World Economic Forum (WEF) has consequently recognized Nigeria’s business environment as one of the most entrepreneurial in the world, and highlighted Nigeria’s improved competitiveness in Enabling Business Environment.

Bernard Okri is the President of the Global Economic Policy Initiative.

Earlier today H.E Vice President Prof Yemi Osinbajo declared open a 3-day Conference and Retreat for strategic leadership for officers of the Nigeria Police Force.

H.E. Vice-President Prof. Yemi Osinbajo today received in audience the Speaker of the Egyptian House of Representatives, H.E. Dr. Aly Abdel Aal Sayed Ahmed at the State House, Abuja.

Here is a recap of some of the things H.E Prof Yemi Osinbajo were up to last week ������

Please follow the journey!

OFFICE OF THE VICE PRESIDENT

PRESS RELEASE


*VP adds: Talent, hard work, innovation, integrity and being trustworthy citizens vital for success

“I have come to realize that trust or trustworthiness is fundamental to the success of practically everything you will do in life. In other words, if you can build your reputation in such a manner that you can win the trust of others, your bosses, co-workers, clients, business partners, you will be tremendously successful. If you cannot be trusted or people can’t make up their minds whether to trust you or not, you are already on the back foot and you are unlikely to succeed. Trust is the currency of successful business and social interaction. It is more valuable than money because it actually attracts money.” – Vice President Yemi Osinbajo


CONVOCATION LECTURE BY HIS EXCELLENCY, PROF. YEMI OSINBAJO, SAN, GCON, VICE PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA, AT THE 6TH CONVOCATION CEREMONY OF BAZE UNIVERSITY, ABUJA, ON SATURDAY, 26TH OF OCTOBER, 2019.

PROTOCOLS.

I am honoured to have been invited to this 6th Convocation Ceremonies of this unique citadel of learning and research, the Baze University. And I am deeply grateful to the Chair of the board of trustees, and my immediate predecessor in office, Arch. Namadi Sambo, for the honour of his personal visit to me, along with other members of the board of trustees, to invite me to this event.

The story of the phenomenal growth of this university in just about a decade is worth repeating. Beginning with 14 programmes in 3 Faculties, to 40 programmes in 6 Faculties, including Basic Medical Sciences, and a Teaching hospital, which is now in view. From structures covering a modest 3,000 square meters and now occupying 49,000 square meters, from 60 staff members to about 620 today and from 17 Students to 1,500 today, Baze University has indeed recorded remarkable progress.

While physical and numerical growth have been in leaps and bounds, so has been academic achievement, prolific research and the students of BAZE excelling in the market place and scholarships all over the world.

But BAZE’s story is also the story of the tenacity, innovativeness, and commitment to education of its founder, visioner and Pro-Chancellor, Senator Yusuf Datti Baba-Ahmed, who in 2011, at the tender age of 41 years, established this university. His hard work and innovation continue to push this place of inquiry and learning to greater heights. I am, of course, especially partial to the University because your Vice Chancellor is a lawyer and as we all know lawyers make the best administrators! Apologies to Arch. Namadi Sambo and all other well educated but “unlearned” professionals here present!

But it is to the distinguished scholars and teachers in the faculties of the university to which the growing academic reputation of this university is owed. And we cannot take that lightly. It is to you that the awesome responsibility of mediating the thoughts and ideas of this and the coming generations belong. We must applaud your immense successes in the journey so far.

We celebrate also and perhaps most importantly, the reason why we are gathered, the graduating class of 2019. Congratulations! Your tassels are now turned to the left like those of us who graduated before you, you now belong to a tiny minority. For instance, according to the National Universities Commission (NUC), about one per cent of the Nigerian population form the total enrolment of students in the 164 universities across the country. Congratulations again.

Also, many congratulations to the parents, families, guardians, sponsors and loved ones of the graduands. This is a special day indeed and I congratulate you specially.

To the graduands, from here on you will be engaging the realities of life; the business of living by making a living. There are some timeless principles that have worked and continue to work through the years.

Permit me to share one with you, the principle of Trustworthiness or integrity. In my relatively modest experience in business, professional practice and, lately, politics, I have come to realize that trust or trustworthiness is fundamental to the success of practically everything you will do in life.

In other words, if you can build your reputation in such a manner that you can win the trust of others, your bosses, co-workers, clients, business partners, you will be tremendously successful. If you cannot be trusted or people can’t make up their minds whether to trust you or not, you are already on the back foot and you are unlikely to succeed. Trust is the currency of successful business and social interaction. It is more valuable than money because it actually attracts money.

The world’s economic systems were actually built on trust. So, giving credit or loans was built on trust. In giving a loan, most bankers will tell you that the first consideration is not your collateral, it is your integrity or trustworthiness, and this is why credit bureaus are developed, to determine the track record of repayment of any potential borrower.

I have said this story on several occasions, but I will repeat here. Many years ago, as a young student doing a post-graduate degree in the United Kingdom, I had a delay in the payment of my school fees. In those days, you had to process your school fees abroad through the Central Bank. I spoke to my counsellor in the University about the problem and she advised me to go to the bank for a loan. I thought, how does someone who has no money get a loan from a bank? But I went; explained myself to a lady across the counter, and to my pleasant surprise, I was given a 600 pounds loan. All I had to do was sign on a piece of paper that when my cheque came, it would be paid to the bank. That was in 1981. They believed my story and trusted me to pay back.

When my cheque came, I paid back. Trust. I was able to take personal loans and several other loans in the same bank. But a few years after this, it had become impossible for anyone carrying a Nigerian passport to open a bank account in a UK bank. Why? Because many young Nigerians had taken advantage of the trust and abused the trust, taking loans but not repaying. Some thought, “how foolish these oyinbo people are,” and so used credit cards to buy cars, furniture and electronics and ran back to Nigeria without honouring the trust.

In the past few years, many foreign banks have closed accounts of some Nigerians, because of the numerous attempts to defraud on those accounts. So, no matter how much you may have in your account, they just say, “we don't want your business” because it's just too much trouble to do business with people who cannot be trusted. So, because of the untrustworthiness of a few, a whole nation is painted black.

Developing trust also means that you must repay when you borrow. Whether it is from a friend, relation or a bank. Credit is the lifeblood of business. You are dead if your credit sources dry up. And they will if you prove that you will not respect your obligations.

In most economies, the sale of goods is by credit. Years ago, many foreign businesses offered credit to local businesses here. I remember a particular businessman who was importing and selling cars many years ago as a representative of a major car manufacturer. The cars were to be supplied to him on credit and the agreement was that he was expected to pay back in 120 days each time. He paid back a few times, then he stopped paying, he kept the money and lived large. I, a young lawyer at the time, had the onerous duty of running after him to recover some of the money. Not too long after, the credit stopped and the business collapsed.

But at around the same time, a businessman running a company called Elizade was doing the same business, buying cars on credit. He kept paying back. The foreign partners found him reliable and trustworthy and 40 years after, he is still in business, even now has an assembly plant. He is the chairman of the Nigerian subsidiary of the Japanese company that he was initially a distributor for. Trustworthiness built a business from nothing to a multi-billion Naira enterprise.

Many businesses today experience problems with dishonest staff. I was speaking to some owners of small businesses about their biggest problems, many mentioned dishonest staff.

A lady who owned a card store, where she made high-quality invitation cards one day was told by one of her customers that her cards were being sold cheaper at a store in another part of town. She discovered that two of her staff, two ladies, were stealing her inventory from the store where they were kept and had opened their own store selling the stolen cards.

Another lady who owned a cake shop complained that her staff would deliberately miscount the number of cakes that were brought in from the bakeries and then sell the excess they created and pocket the money. She said because she had to be physically present at her store all the time, she couldn’t open new branches, thus creating new jobs.

An entrepreneur who owned a small bar and left it in the hands of a manager said that he discovered that his drinks were not being sold despite the fact that several people were patronizing the bar. He later discovered that the manager and the barman were doing something funny. They brought their own drinks to the bar and sold their own instead of his own. So, when he checked his inventory his drinks were intact, but his manager and barman were selling their own drinks to his customers. He owned the bar, paid the rent, but couldn’t make money.


But there is an opportunity here because so many Nigerians and foreigners must do business here in Nigeria. The world is in search of the Nigerian of integrity, the trustworthy Nigerian to do business with or to employ. Everyone wants faithful partners or employees. Even thieves are in search of trustworthy people to keep their money with. Anyone who can show that he or she can be trusted cannot lack opportunities or profit.

There are good stories too; the story of a young Nigerian like you who turned anger to prosperity in Nasarawa State. Retson Tedheke was once a militant impatient with this country. Retson became convinced to renounce militancy in Delta State, he migrated from his native Delta to faraway Nasarawa to set up a farm.

But like most new entrepreneurs, funding was a big challenge for Retson. But a FinTech company called “Kia-Kia”, set up by young Nigerians, and another called Farmally, advanced him loans sufficient to start a small farm. From a mere initial capital base of N1.5m in 2017, Retson, last week, proudly conducted Governor Abdullahi Sule of Nasarawa State and I, round what is now a vast 3,000 hectares farm worth about a billion Naira and employing 300 Nigerians.

When we visited him. I spoke to the companies that gave him the loans they all said they gave the loans because they could see he was trustworthy and had proved time and time again that he could be trusted. He built a successful farm, on credit without collateral, proving the point that integrity is the most valuable collateral.

Let me say that if you take nothing away from here, take this – your most valuable possession will be that you can be trusted by other people.

Let me again congratulate the graduating class of 2019. You have received excellent education and instruction. Your certificate reads that, “The senate has found you worthy in learning and character”. You are graduating at the most advanced moment in technology and innovation in the history of mankind; you are bound to succeed!

Remember that to whom much is given much is expected, the way up requires more than talent and degrees, hard work, innovation and integrity are crucial, but above all the grace of the Almighty GOD.

So, I pray for you that you will succeed beyond your best dreams and that the honours you receive today will be your least achievement in Jesus name. Amen.

God bless you, thank you very much.

Released by:
'Laolu Akande
Senior Special Assistant to the President on Media and Publicity
Office of the Vice President
27th October, 2019

VP Yemi Osinbajo SAN yesterday attended the UNILAG at 50 Alumni Award Dinner as the Special Guest of Honour where he’s also honored with The Golden Jubilee Recognition Award presented to him by Rt. Hon. Femi Gbajabiamila Speaker of The House of Reps, Governor of Ekiti State Dr. Kayode Fayemi and Governor of Osun State Dr. Gboyega Oyetola At
Intercontinental Hotel Lagos. Photos; Tolani Alli

President Muhammadu Buhari has returned to Nigeria from his four-day visit to the Russian Republic extremely happy with the success of the visit, which outcome is the best response to a few skeptical audiences back home, including a toxic newspaper editorial, “Buhari, Stay On Your Job,” by the Lagos-based Punch Newspaper asking him to not travel.

Based upon the results, it must be concluded that the President’s mission was fully accomplished. The definite high point was the decision by the Russians to agree to a government-to-government understanding that would see them return to complete the Ajaokuta Steel Rolling Mill and commission it. Nigeria had expended well over USD 5 billion without it coming to fruition.

When he campaigned early in the year for his re-election, which he won with a majority of four million votes, marking a difference of 14 per cent against his closest rival, President Buhari reiterated an earlier promise to complete Ajaokuta to provide jobs and the steel backbone that the nation’s industrial complex needed so desperately. Could this have been achieved if he had locked himself inside the Aso Rock Villa? The answer is obviously a “no.”

Yet, this was not all that he secured. Presidents Buhari and Vladimir Putin opened a “new chapter" in the historically important relationship between the two countries as they both agreed to expand cooperation in energy sector, petroleum and gas, trade and investment, defence and security, mining and steel development, aluminium and phosphate, education and agriculture and a plethora of other issues which, to my pleasure had been spelled out in an elaborate manner by Tonye Princewill, an astute leader in the All Progressives Congress, APC in an opinion article he widely circulated.

President Putin noted that the traditional friendly relationship between Nigeria and his country has gained a new momentum, symbolized by a 93 per cent growth in trade between the two nations in 2018, promising that “Russian companies are ready to offer their scientific and technological developments to their African partners, and share their experience of upgrading energy, transport and communications infrastructure.”

In President Buhari’s view, this summit was a necessary anchor “to kick start what has been a very cordial and mutually beneficial relationship in past years...there are similarities between Russia’s journey under your leadership (Putin’s) and Nigeria’s aspirations for the future. We can learn a lot from the experiences of Russia’s ongoing reforms of transitioning from an oil dependent economy to a modern, diversified and inclusive economy.”

Russia is clearly seeking to reconstruct the important role the country played in its Soviet era. They had traditionally supported African countries in their fights for independence and sought to build industrial infrastructure and develop national economies.

In another sense, the focus of the summit on multilateralism, the advocacy for the reform of the United Nations and climate change action is a direct response to Trump era unilateralism.

It is noteworthy that Nigeria got everything our delegation asked for. When German Chancellor, Angela Merkel visited President Buhari in Abuja in August last year, she made reference to a pertinent defect in the relationship between Europe and Africa when it comes to the promotion of projects.

“When we give you a project, we show you the door to a bank. We tell you to go and obtain financing. The Chinese give you the project, they give you financing. That is something we will have to look at,” she said to President Buhari.

Before the Europeans make up their minds on this, the Russians are now having a go at the idea. For every viable project Nigerian officials suggested in the course of this summit, the chances of the financing appeared within sight.

It is in the light of this that one of Russia’s leading rail line service providers, MEDPROM indicated their interest in undertaking the 1,400-kilometer Lagos-Calabar rail track that will pass through all the states in the South-South sub-region.

The agreement and MoU signed between the NNPC and the Russia’s Lukoil is another spectacular agreement along these lines. Lukoil owns seven refineries and a record turnover of USD 38 billion.

The two oil giants will upgrade their commercial relationship to a government-to-government backed partnership, to work together in upstream operations and in revamping Nigeria’s ill-functioning refineries. The signing ceremony was witnessed by Timipre Sylva, Minister of State for Petroleum Resources. The Group Managing Director of the NNPC, Mele Kyari signed for the Nigerian side while Vagit Alekperov, President, signed on behalf of Lukoil.

In support of this, President Buhari made clear that he wished to work with Russian businesses to improve the efficiency of our oil and gas sector, giving a strong assurance that his administration will “ensure this initiative is implemented within the shortest possible time.”

Of no less significance is the MoU resolving past issues, paving the way for the revival of the rested joint venture between the NNPC and Russia’s gas giants, GASPROM for the development of Nigeria’s enormous gas resources and its infrastructure.

In that waggish but poisonous editorial, the newspaper in question raised concerns about terrorism, kidnapping and general insecurity in the country. It asked a question, wondering why the President would travel abroad when there is, in the country, the problem of kidnapping and fire from oil tankers had caused the loss of life and devastation of shops. Yes, these are sad and unwelcome. This is a President who is praised for his prompt response to the Onitsha fire, first by releasing a message of commiseration same evening and thereafter, dispatching the Minister of Humanitarian Affairs on a condolence mission. The minister gave directive on the spot to the National Emergency Management Agency, NEMA for the immediate deployment of emergency assistance to the Southeast.

Either out of ignorance or mischief, the Punch failed to see how important it is for the President to seek international support in tackling home grown terrorists, the Boko Haram, reinforced by 2000 ex-ISIS fighters as disclosed by Mr. Putin.

Not only did President Buhari get that needed support to fight Boko Haram terrorists, he got the two countries to cooperate extensively in the strategic fields of defence, civil nuclear energy and in dealing with piracy and oil pipeline vandalism in the Gulf of Guinea.

The Nigerian leader also got a deal for the technological upgrade and timely delivery of the balance of seven, out of an existing order for 12 Attack Helicopters. These, and an assortment of military hardware are direly needed by Nigeria to deal with the new wave of crime bedevilling the country.

Interestingly, one of the three key themes of the whole conference is security. African states with Russia’s support have, as an outcome, drawn up a regional security architecture that would use new technological solutions to ensure security for cities, securing the borders and creating a buffer against the illegal movement of explosives, weapons, drugs and smuggling to reduce terrorist danger to the continent.

Still on security, the Nigeria-Russia Military Technical Agreement that lapsed a few years ago without being renewed will be given due attention by Nigeria. Russia had been ready with her part. President Buhari gave a response to this, saying, “I have directed the Minister of Defence to work with the Ministry of Justice to conclude this matter within the shortest possible time.”

The significance of this agreement lies in the fact that it opens the door to the procurement of military hardware, on a government-to-government basis, eliminating middlemen and reducing cost, as well as the training of military personnel, modernization of the armed forces, refurbishment and renewal of infrastructure and equipment, which President Putin said he is ready to assist Nigeria to undertake.

The one perennial business and, if you like emotional topic between the two countries is the protracted issue of the Aluminium Smelter Company of Nigeria, ALSCON, Ikot-Abasi, Akwa-Ibom State. It too, will be resolved. President Buhari announced that he had asked the Ministry of Justice, “to submit a comprehensive report on the UC Russel (the Russian owners of the plant) matter...I want to assure you that the aim of our reforms is to ensure such investments are concluded and actualized in a professional and painless manner.”

There are many of our citizens who do not reckon with the fact that this country has a nuclear programme for about 40 years, one however, that has not gone beyond the setting up of research stations. Arising from these discussions, President Putin invited President Buhari to join him in taking the next step in the implementation of the project by commencing the construction of the nuclear power plant.

The two Presidents also addressed issues in education and agriculture. Russia said she would give additional scholarships. There are currently 100 Nigerian students studying under her scholarship and so far, 797 students from Nigeria have benefited from scholarships for training in Russia in various academic fields.

On agriculture, Russia agreed to support Nigeria in laying a solid foundation for food security. This will partly come through raw materials (phosphate) supply for President Buhari’s very impactful Presidential Fertilizer Initiative that has seen the reopening of dozens of blending plants and the return to work of thousands of employees.

Russia, now the world’s largest producer of wheat according to President Putin, will work with Nigeria in growing wheat to meet domestic and market needs.

This is in response to President Buhari who made a request to Putin, that “we seek your Government’s support especially in the area of wheat production. Today, Nigeria produces less than one hundred thousand metric tons of wheat locally while our imports are projected to exceed five million tons in 2020. We therefore need your support to bridge the deficit which will create jobs and save our foreign exchange for other important areas like security, defence and infrastructure.”

The two leaders also discussed regional and international issues of mutual interest, with President Buhari pointedly asking for Russia’s support for Nigeria’s aspiration to assume a permanent seat in the United Nations Security Council, in the envisaged reform of the UN.

Realizing that the relationship between our two countries had suffered the loss of the momentum characteristic of the Soviet era, President Buhari said “to move forward, may I suggest that our countries organize the fifth Joint Commission meeting to review and ratify all the agreements (about 40) contained in the Inter-governmental Nigeria-Russia Joint Commission on Economic, Scientific and Technical Cooperation Protocol of November 11, 2016,” to which his Russian counterpart agreed.

For the African continent that been looked at as a potential bright spot in the world economy for a long time, the flurry of summits between the leaders of the major economies of the world and the Heads of African states and government is a clear indication of Africa coming of age.

For Nigeria and President Buhari in particular, the Russia-Africa Summit had served the desire the two countries to diversify and further strengthen the bonds of our robust bilateral relations. A solid foundation has indeed been laid for the promotion of the mutually beneficial cooperation between both nations.

Garba Shehu, is the Senior Special Assistant to the President on Media & Publicity

OFFICE OF THE VICE PRESIDENT
PRESS RELEASE

*VP attends National Festival for Arts and Culture in Edo
*Says tourism sector has potential for growth

Harnessing the power in Nigeria’s diverse, but fascinating cultures as a major basis for national unity would help the country prevail over the challenges confronting it and spur national development, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo added that Nigerians should amplify the positive narratives of its shared history and heritage through tourism, arts and culture, while using it as a compass to navigate the present and the future as a united country.

The Vice President stated this on Friday in Benin City, Edo State, at a Town Hall meeting which was a major part of the week-long activities marking this year's National Festival for Arts and Culture (NAFEST).

Highlighting the significance of national unity, he said, "One of our tasks as artistes, scholars, enthusiasts and citizens interested in reclaiming our heritage is to interrogate our past with an eye for our commonalities rather than merely rehashing our distinctions.

"This matter because it is only by standing together that we can prevail over the challenges confronting us. These challenges know neither tribe nor tongue; they afflict us all universally and only by uniting in our diversity can we hope to overcome them."

According to him, arts and culture go beyond romanticizing the past, as it also "provide a better way people can get the best narratives about themselves; because the ancient landmarks of history provide the bearing and help navigate the present and the future."

The Vice President who was taken on a tour of the National Museum, accompanied by the Edo State Governor, Godwin Obaseki, said the cultural memorabilia on display gave insight into the depth of the nation’s history.

"I was taken round the National Museum on a most fascinating tour and I have seen much that fills me with hope. Among the treasures on display are artefacts that highlight the deep socio-cultural linkages between the Bini, on one hand, and other ethnic communities such as the Igala, the Urhobo, the Igbo and the Yoruba, among other groups, on the other hand," he said.

The Vice President further said that, “while we often look to our past to emphasize or exaggerate our differences, part of the legacy of ancient Benin is the constant reminder of the similarities between our diverse peoples.”

"I am delighted to have been able to tour the museum with very enthusiastic students from schools here in Edo State. By acquainting themselves with the treasures of Benin, they have also hopefully been infused with a thirst for historical knowledge and have also received an invaluable awareness of the depth of the things that bind us together.”

Recollecting the history of Benin Kingdom, Prof. Osinbajo noted that, "the invasion of the Benin Kingdom in 1897 would have ended a lesser civilization. Instead, the royal dynasty survived and the legacy of Benin endures, not only through the lineage of its noble royal houses, but also in the evident resilience of her people.

"I have just had the pleasure of inspecting some of the works of the local guild of craftsmen and artisans that has existed for more than five hundred years. This is an example of what the spirit of Benin is all about – resilience, tenacity and creativity. These are attributes that can elevate and inspire our nation as a whole to greater heights."

Continuing, the VP commended Edo State Governor, Godwin Obaseki, "for his vision and his leadership in seeking to reposition Edo State as a foremost destination for investment and tourism."

"As we diversify our economy and move our nation in the direction of revenues beyond oil, tourism is clearly one sector with untold potential for growth. Edo State is clearly blazing a trail in this direction," the VP stated.

NAFEST is an annual event held to celebrate Nigeria’s diversity using arts and culture as a platform to promote national unity. This year’s edition is the first time it would be hosted in Edo State in the last 40 years, and its celebration also marked the third year of coronation and birthday of the Oba of Benin, Omo N'Oba N'Edo Uku Akpolokpolo, Oba Ewuare II.

Earlier in the day, the Vice President paid a courtesy visit to the Oba of Benin, commending the Monarch for playing a major role in preserving the heritage of Benin kingdom and enhancing the peace in his domain. He also congratulated him on his birthday and the third year of his reign.

In his remark, the Oba of Benin, Oba Ewuare II, thanked President Muhammadu Buhari, as well as the Vice President, for appointing two of Edo sons as cabinet ministers and one of them also into the Board of NDDC.

Similarly, Governor Obaseki thanked President Buhari for approving the hosting of NAFEST festival in Edo this year, and also commended the Vice President for visiting the State and gracing the occasion.
25th October, 2019

Femi Fani Kayode, FFK should not be taken serious. This man speaks from both side of his mouth. Osinbajo and Buhari are working as a team and they maintain the highest level of relationships.
FFK should not be taken serious.

OFFICE OF THE VICE PRESIDENT


PRESS RELEASE




“I don’t think that government regulation is necessarily the way to go, but I believe that we as persons of faith, as leaders and those of us who use social media actively, owe a responsibility to our society and to everyone else to ensure that we don’t allow it to become an instrument of conflict and war.”


REMARKS BY HIS EXCELLENCY, PROF. YEMI OSINBAJO, SAN, GCON, VICE PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA, AT THE INTERFAITH RELIGIOUS DIALOGUE ON PROMOTING RELIGIOUS TOLERANCE AND ACCEPTANCE ORGANIZED BY THE UAE EMBASSY ON THE 24TH OF OCTOBER, 2019



Protocols

This has been a very enlightening morning and I would like to commend the discussants for the richness of the panel conversations and the invaluable insights that they have brought to our attention. I am struck by the common threads in all the discussions; empathy, love, justice and fairness.


A great deal of inter-religious dialogue tends to focus on mediating the differences between our various religions, creeds and our various positions and this is absolutely necessary.


However, I do feel sometimes that we do not speak enough about these common threads and things that bind us; that all human beings regardless of faith or ethnicity, desire much the same things, to be valued, loved, treated with dignity and fairness, to possess at least the basics of life - food, shelter and clothing sufficient for self and family.


As we have heard, the Golden Rule is “love thy neighbour as thyself” or “do unto others as you
would have them do to you.” This rule occurs in every major religion and even in some iterations of secular constitutions. This is a common thought.


It is significant that there is a truth which all adherents of different faiths and even those who say they do not believe in God can confidently claim belong specifically to their creed or to their own way of thinking, or collectively as people of faith, or as those who even have no faith.


Treating people the way we would like to be treated imposes a moral obligation on us to put ourselves in the other person’s shoes before we act. This is the very definition of empathy.


For those of us who are Christians, an understanding of the gospel of Jesus Christ, for example, reveals that Christianity is not in fact, a religion. It is the establishment of a relationship of love, forgiveness and reconciliation between God and man.


Central to that message is that we are required to love God and then love our neighbours as ourselves, but the gospel goes on to say that it is a liar who says he loves God but hates his neighbour. So, the whole essence of the love of God itself is demonstrated in the love of one’s neighbour.


Love is a sacrificial act, it requires self-sacrifice, which is why what Imam Abubakar Abdullahi did is deeply exemplary. When “a band of herdsmen” as they were described, came into his village to kill Christians, he put them in his home and in the mosque. When the “herdsmen” insisted on killing the Christians, he said they had to kill him first if they wanted to kill the Christians. He put his life on the line for what he believed.


Our religious leaders must accept that this is the true demonstration of leadership. We must go beyond rhetoric, beyond talking about tolerance, we must make the sacrifices required. This is the real challenge of leadership, leading rather than following.


Preaching hate and suspicion attracts more attention and more popularity. So, you don’t need great leadership for that. You need great leadership to tell people to love those who hate them and pray for those who curse them, to respond to hate with love, and to show compassion and understanding to people of other faiths. That is what we need great leadership for and what we need our religious leaders to do. The easiest thing to do in the world is to bring suspicion. There is already enough suspicion, the fact that you belong to different beliefs, already creates the basis for suspicion. If we make it easy for those fault lines to be perpetrated, then we can’t describe ourselves as true leaders.


Recently, I had the privilege of addressing young Muslims and Christians in an event quite similar to this event. I submitted to them that the great conflict of our time is not a clash of civilizations, between Islam and Christianity, but between extremism and human solidarity; between the forces of hate and intolerance and those of empathy and peace. We have heard every side talk about the essence of faith, the essence of faith is peace, compassion and love. But the conflicts that we have are between those who belong to several religions who preach conflict, hate and intolerance.


As practitioners of empathy, it is our responsibility to build bridges and to seek common ground as a basis for national progress.


In every diverse society, a measure of conflict and discord is inevitable. This is the natural social consequence of our differences brushing up against each other. Whether these tensions become teachable moments for learning more about ourselves or they snowball into implacable hostilities, depends on how we address these tensions.


As gatekeepers of the public mind, the media, and now especially social media, play a very crucial role in shaping our perception of these differences.


Do we report tragedies and incidents of conflict in ways that promote the sanctity of human life? Or are we simply driven by the need to drive lucrative sales and clicks by promoting shock value, sensations, gratuitous violence and the cynical coverage of carnage? Are we using our platforms to amplify measured voices of reason or are we using them to amplify the voices of divisive hate-mongers? What are we using our platforms for?


One key lesson in terms of media reportage of conflicts is that we must avoid the temptation to demonize whole groups by judging them by their most extreme fringes. We must resist the urge to portray communities in caricatures. I think it is important to stress that when an individual commits a crime, he or she does so as an individual and not as a representative of an ethnic or religious community.


Neither journalistic best practice nor legal convention subscribes to the idea of holding communities responsible for the actions of individuals. This cycles back to the Golden Rule. Are we portraying the subjects of our reportage as demons? Are we portraying people in the way we want to be portrayed?


The people in the media and opinion moulders have a responsibility to inspire us to think deeply about the complexity of our society. You have a responsibility to help us see the bigger picture, to rise above our prejudices and to apprehend the nuances that characterize inter-group relations in a plural society such as ours.


As the conversations that we have just witnessed have shown, we have voices of reason and empathy in our religious communities. I urge the media and social media which involves every one of us as gatekeepers of the public mind, to lend their platforms to advocates of peace and mutual understanding and therefore amplify our potential for harmonious co-existence.


At the same time, we must ensure that we intentionally marginalize the agents of intolerance and hatred and deny them the ability to influence impressionable hearts and minds.


As religious leaders, media personalities and people of faith in general, we share a common calling to apprehend the truth. One truth that our diverse moral traditions agree on is the Golden Rule. It is, in many respects, the primary ethic and as we commit to practically living it out, we will bring in a kinder, safer and more peaceful world into being.


I want to say in particular about social media that we absolutely need to be careful with our use of social media. If we do not want to promote the kind of conflict that can completely go out of hand, we must be sure that we are policing ourselves and regulating ourselves on social media. I don’t think that government regulation is necessarily the way to go, but I believe that we as persons of faith, as leaders and those of us who use social media actively, owe a responsibility to our society and to everyone else to ensure that we don’t allow it to become an instrument of conflict and war.


Recently, I was sharing at a gathering about my aunty, an 81-year-old lady who thought I had resigned. Sometime before the elections, the news went round that I had resigned my appointment as Vice President, the news went round on social media and WhatsApp. My aunt insisted that I had resigned because the news was on WhatsApp. I had to explain to her that I didn’t resign even if the news was on WhatsApp.


It was Rev. Sister Agatha who mentioned (in one of the panel discussions today) that if we are not careful, most people are not discerning enough to tell fact from fiction. Depending on what it is that you are spreading, if you choose to spread the sort of news that can create real conflict and religious misinformation which is the worst sort, it can create the kind of conflict that can completely get out of hand and jeopardize all of our lives, livelihood and property.


It is important that we keep self-regulating and ensuring that we don’t lend our platforms to those who would promote conflict.


I would also like to join others in commending His Excellency, Ambassador Fahad Obaid Mohammed Altaffag, a true believer in peace and tolerance, for hosting this dialogue. A few weeks ago in Lagos, he hosted the UAE - Nigeria Cultural Day, where we celebrated the brotherhood of our countries through the Arts. In you and the good people of the United Arab Emirates, we are delighted to say that we have true partners for peace.


I thank you all for listening and participating in this dialogue.


God bless you!


Released by:

Laolu Akande;

Senior Special Assistant to the President on Media and Publicity

Office of the Vice President

24th October 2019

STATE HOUSE PRESS RELEASE



 President Muhammadu Buhari has expressed delight with the World Bank’s 2020 Doing Business Index (DBI) which ranked Nigeria 131 out of 190 countries, up 15 places from 146th position last year.
The report, which was released Thursday, also named Nigeria one of the top 10 most improved economies in the world for the second time in three years. Nigeria is one of only two African countries to make this highly prestigious list. With this year’s leap, Nigeria has improved an aggregate of 39 places in the World Bank Doing Business index since 2016.

The Doing Business Index is an annual ranking that objectively assesses prevailing business climate conditions across 190 countries based on 10 ease of doing business indicators. The index captures ease of doing business reforms that have been validated by the private sector, and offers comparative insights based on private sector validation in the two largest commercial cities in countries with a population higher than 100 million. The report consequently features Lagos and Kano for Nigeria.

Welcoming the announcement, President Buhari noted that “the movement of 15 places to 131 as well as the recognition being given to Nigeria as one of the top 10 most improved countries, that have implemented the most reforms this year, is significant because we were not even able to achieve some of the key reforms we had pursued, but what we have done so far is being recognized. This validation confirms that our strategy is working and we will continue to push even harder to deliver more impactful reforms.

With the impending ratification of the Companies and Allied Matters Bill and the introduction of the Business Facilitation (Omnibus) Bill, 2019 in view, along with other pending and ongoing regulatory, judicial and sub-national reforms, the President declared that “the announcement by the World Bank indicates that our mandate to move into the top 70 doing business destinations by 2023 remains achievable.”

Briefing President Buhari on the rankings, the Minister of Industry, Trade and Investment and Vice Chair of the Presidential Enabling Business Environment Council (PEBEC), Otunba Niyi Adebayo had stated:
“The steady improvement in Nigeria’s ease of doing business score and rank is a testament to the reforms implemented by this Administration over the past four years in line with the reform agenda being implemented at national and sub-national levels across the country since the establishment of the Presidential Enabling Business Environment Council (PEBEC) by President Muhammadu Buhari in July, 2016.

“The PEBEC works towards the fulfillment of the projections of the Economic Recovery and Growth Plan (ERGP 2017-2020), which is striving to deliver sustainable economic growth in Nigeria by restoring growth, investing in our people, and building a competitive economy as we work towards delivering Mr President’s mandate of bringing 100 million people out of poverty. The 2020 Doing Business report from the World Bank has reaffirmed the commitment of the newly constituted PEBEC to making Nigeria a progressively easier place to do business and removing the bureaucratic constraints to doing business in the country as we forge ahead in this Next Level.”
The Presidential Enabling Business Environment Council, chaired by His Excellency the Vice President, with 13 ministers as members amongst others, has through the Enabling Business Environment Secretariat collaborated with ministries, departments and agencies (MDAs), the National Assembly, the Judiciary, State governments and the private sector to carry out over 140 reforms so far in a bid to remove bureaucratic constraints to doing business in Nigeria and make the country a progressively easier place to start and grow a business.

On the new ranking, Dr Jumoke Oduwole, Special Adviser to the President, Ease of Doing Business/Secretary PEBEC, said:

“The private sector remains the fulcrum of the ease of doing business interventions. We are committed to more engagements among reform-implementing organs of government and the private sector players, and we are happy to see that these have resulted in a more favourable validation of the reforms by the private sector. This result will serve as encouragement to sustain the deepening of these reforms and make it even more tangible for businesses and the citizenry. The PEBEC is focused on delivering even more substantive reforms for the improvement of the general business climate.”

She noted that over the past four years, Nigeria’s score has steadily improved in the World Bank Doing Business Report, after years of decline in both score and ranking in the years preceding 2016.

She also recalled that in 2017, Nigeria moved up by an unprecedented 24 places on the Doing Business rankings, and was for the first time ever, recognized as one of the top 10 reformers in the area of doing business that year.
 
Femi Adesina
Special Adviser to the President
(Media & Publicity)
October 24, 2019

Nigeria Moves Up 15 Places in Ease-of-Doing-Business.

**Named Global Top-10 Improver For The Second Time In Three Years



The World Bank’s 2020 Doing Business Index (DBI) has ranked Nigeria 131 out of 190 countries, up 15 places from 146 position last year. The report, which was released on October 24, 2019 also named Nigeria one of the top 10 most improved economies in the world for the second time in three years. Nigeria is one of only two African countries to make this highly prestigious list. With this year’s leap, Nigeria has improved an aggregate of 39 places in the World Bank Doing Business index since 2016.



The Doing Business Index is an annual ranking that objectively assesses prevailing business climate conditions across 190 countries based on 10 ease of doing business indicators. The index captures ease of doing business reforms that have been validated by the private sector, and offers comparative insights based on private sector validation in the two largest commercial cities in countries with a population higher than 100 million. The report consequently features Lagos and Kano for Nigeria.



While, briefing Mr President on the rankings, the Honourable Minister of Industry, Trade and Investment and Vice Chair of the PEBEC, Otunba Niyi Adebayo stated that, “The steady improvement in Nigeria’s ease of doing business score and rank is a testament to the reforms implemented by this Administration over the past four years in line with the reform agenda being implemented at national and sub-national levels across the country since the establishment of the Presidential Enabling Business Environment Council (PEBEC) by President Muhammadu Buhari in July, 2016. The PEBEC works towards the fulfillment of the projections of the Economic Recovery and Growth Plan (ERGP 2017-2020), which is striving to deliver sustainable economic growth in Nigeria by restoring growth, investing in our people, and building a competitive economy as we work towards delivering Mr President’s mandate of bringing 100 million people out of poverty. The 2020 Doing Business report from the World Bank has reaffirmed the commitment of the newly constituted PEBEC to making Nigeria a progressively easier place to do business and removing the bureaucratic constraints to doing business in the country as we forge ahead in this Next Level.”



The Presidential Enabling Business Environment Council, chaired by His Excellency the Vice President, with 13 honourable ministers as members amongst others, has through the Enabling Business Environment Secretariat collaborated with ministries, departments and agencies (MDAs), the National Assembly, the Judiciary, State governments and the private sector to carry out over 140 reforms so far in a bid to remove bureaucratic constraints to doing business in Nigeria and make the country a progressively easier place to start and grow a business.



The report acknowledges reforms spearheaded by the PEBEC in the areas of operationalising a new electronic platform that integrates the tax authority and the Corporate Affairs Commission (CAC). It also acknowledges reforms carried out in some of the World Bank Doing Business indicator areas such as starting a business, registering property, getting construction permits, getting electricity, enforcing contracts, and trading across borders.



“The CAC upgraded its name reservation platform and, in Kano, there is now an electronic platform for registering business premises online, eliminating the need to appear in person. In Lagos, land administration was made more transparent following the digitisation of cadastral plans in a geographic information system; digital copies of cadastral plans are now easily obtainable. Nigeria also made getting electricity easier by allowing certified engineers to conduct inspections for new connections. Initiatives also made commercial litigation of smaller cases more efficient. The Chief Judges in Lagos and Kano issued practice directions for small claims courts introducing pre-trial conferences and limit adjournments. Finally, customs integrated more agencies into its electronic data interchange system, and port authorities launched an e-payment system, speeding up both exports and imports.”



Welcoming the announcement, the Special Adviser to the President on Ease of Doing Business, Dr Jumoke Oduwole, noted that “the movement of 15 places to 131 as well as the recognition being given to Nigeria as one of the top 10 most improved countries, who have implemented the most reforms this year, is significant because we weren’t even able to achieve some of the key reforms we had pursued, but what we have done so far is being recognised. This validation confirms that our strategy is working and we will continue to push even harder to deliver more impactful reforms.”



“The private sector remains the fulcrum of the ease of doing business interventions. We are committed to more engagement between reform-implementing organs of government and the private sector players and we are happy to see that this has resulted in a more favourable validation of the reforms by the private sector. This result will serve as encouragement to sustain the deepening of these reforms and make it even more tangible for businesses and the citizenry. The PEBEC is focused on delivering even more substantive reforms for the improvement of the general business climate.” she further stated.



Over the past four years, Nigeria’s score has steadily improved in the World Bank Doing Business Report, after years of decline in both score and ranking in the years preceding 2016. It will be recalled that in 2017, Nigeria moved up by an unprecedented 24 places on the Doing Business rankings, and was for the first time ever, recognised as one of the top 10 reformers in the area of doing business that year.



With the impending ratification of the Companies and Allied Matters Bill and the introduction of the Business Facilitation (Omnibus) Bill, 2019 in view, along with other pending and ongoing regulatory, judicial and sub-national reforms, Nigeria is poised to meet its goal of being a top 100 ranked economy by 2020. The announcement indicates that our mandate to move into the top 70 doing business destinations by 2023 remains achievable.



Signed:

Dr Jumoke Oduwole

Special Adviser to the President, Ease of Doing Business

Secretary, PEBEC

24th October, 2019

PHOTOS: H.E Vice President @ProfOsinbajo Presides over today’s Federal Executive Council (FEC) Meeting at the Council Chamber of the Presidential Villa. #AsoVillaToday

OFFICE OF THE VICE PRESIDENT
PRESS RELEASE



*VP receives 2019 Compliance Report on Executive Order 001 on promotion of efficiency in Nigeria's business environment

The Buhari administration will continue its determined pursuit of reforming Nigeria's business environment until the full attainment of the objectives, which will bring dramatic changes in the country's economy, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo made the assertion while receiving at the Presidential Villa earlier today, the 2019 Compliance Report of the Presidential Executive Order 001 which was on the promotion of transparency and efficiency in the business environment.

The report was presented by the Minister of State on Industry, Trade and Investment Mariam Katagum and the Special Adviser to the President on Ease of Doing Business, Dr. Jumoke Oduwole during the meeting of the Presidential Enabling Business Environment Council, PEBEC attended by a representative of the Speaker of the Federal House of Representatives, Honourable Dolapo Badru, who is the House Committee Chairman on Industries, nine federal ministers, the Ag. Head of Service, Mrs. Folasade Yemi-Esan, and several heads of government agencies.

Besides, the Minister of State for Industry, Trade and Investment, other Ministers at the meeting included the Attorney-General of the Federation, Abubakar Malami, SAN; Works and Housing Minister, Babatunde Fashola, SAN; Interior Minister, Rauf Aregbesola; Information Minister, Alhaji Lai Mohammed, and the Federal Capital Territory Minister, Mohammed Bello. Others are Police Affairs Minister, Mohammed Dangadi; Transport Minister of State, Gbemisola Saraki; and the Minister of State for Power, Godwin Agba.

According to the Vice President, "we will keep updating ourselves on the progress of the ease of doing business reforms," while noting some of the progress already recorded in the last three years since the commencement of the ease of doing business reforms.

For instance, in 2017, in the World Bank Doing Business Ranking, Nigeria moved up 24 places and was also listed among the top ten reforming economies in the world. This year the World Bank also named Nigeria one of the top-20 improvers in doing business out of 190 countries.

Among the notable results of the reforms, besides the better ranking by the World Bank Doing Business Rankings and commendations include that the Federal Inland Revenue Service, FIRS, launched a centralized e-payment channels contributing to a 20% reduction in time businesses spent on documentation and payment of taxes, the launching by the Immigration authorities of a fully digitized e-visa process guaranteeing visa approvals in 48 hours, how the National Agency for Food and Drug Administration and Control, NAFDAC, re-engineered registration processes and reduced processing time from 12 to less than 3 months, and how the Federal Airports Authority of Nigeria, FAAN, improved user experience at airports by eliminating passenger service charge stickers and manual check-in bag searches.

Some of the other results recorded include how the Corporate Affairs Commission, CAC, simplified company registration processes, resulting in 50% reduction in processing time and the passage by the National Assembly of the Credit Reporting Act 2017, among others.

Commending the collaboration with the National Assembly on driving the reforms, and urging for the eventual attainment of all the other outstanding reform objectives, the Vice President noted that, "if we can clean up our business environment, the difference would be dramatic."


Laolu Akande
Senior Special Assistant on Media and Publicity
Office of the Vice President
22nd October, 2019

PHOTOS: Vice-President Prof. Yemi Osinbajo SAN yesterday received David Carling, a British missionary who had spent decades in Nigeria previously. He came back to offer support to the FG on how to rehabilitate NE communities. He was accompanied by the CAN President and leaders and also members of the STEFANOS delegation Photos; Tolani Alli

OFFICE OF THE VICE PRESIDENT

PRESS RELEASE




“…most reliable studies show that overly generous financial safety nets or system have generally tended to increase bank risks and systemic fragility. My respectful view is that there must be some rethinking of the short and long term implications of the use of these tools and their sustainability in the coming years. A reference was made in the past that we may not even have that option of the AMCON-type bailout given the sheer amount of money that will be involved.

“There is no question that regulatory institutions must now spend more time and resources on researching the nature, management of new risks such as the speed of transactions, cross border transactions, money laundering concerns and data privacy and security issues. Training to meet the required compliance capacity will also be crucial.

“Thirdly there are the challenges associated with the move towards financial inclusion.

“The other issue is coping with the implications for banking, of the disruptive technologies that are quickly changing the landscape of financial services. It seems to me that FINTECHS will continue to be most profound force for change for both good and ill ever seen in the financial services industry.”

BELOW IS THE FULL TEXT OF THE VICE PRESIDENT’S SPEECH:

SPEECH BY HIS EXCELLENCY, PROF. YEMI OSINBAJO, SAN, VICE PRESIDENT, FEDERAL REPUBLIC OF NIGERIA AT THE NDIC 30TH ANNIVERSARY LECTURE/BOOK LAUNCH, MONDAY OCTOBER 21, 2019 AT TRANSCORP HILTON HOTEL, ABUJA

It really is a special pleasure to join you today here at the 30th anniversary celebration of this unique institution and I am extremely grateful to the board and management for the kind invitation.

We have already heard of the various institutional achievements of the NDIC in the past three decades of its existence. The part that it has played in stabilizing the financial system especially the periods immediately after the early days of privatization and private ownership of banks, its role in the failed banks crisis that followed immediately after, and the various professional and standards distinctions that it has received through the years.

Few will deny that even its mere existence has reassured a sometimes nervous system that banks will be able to convert liabilities to cash to fulfill their potential obligations to their customers. I must also join others in commending the NDIC for its professionalism, its steady unexcitable and conservative profile and for gaining international respect amongst peers for itself and for Nigeria.

Not only are you a reference point for deposit insurance institutions globally but also NDIC officials have been preferred to Executive Council (EXCO) membership of the highly respected International Association of Deposit Insurers (IADI), as well as the current Chairmanship of the IADI-Africa Regional Committee (ARC).

I must say again that the NDIC has continually demonstrated that it is an institution that deserves all of the accolades and commendations that it has received today and in the past. It is said that one of the great disincentives to greater glory is past glory.

Sometimes the status quo is so comfortable that the preparing for and taking on new challenges may not gain adequate attention.

I trust that the current board (whose talents and dynamism I can personally attest to) will be ahead of the challenges of the future. But it will be remiss of me not to mention some of my perceptions on some of the dynamics of engaging the future of our financial safety systems.

First is the number of institutions, and implicit and explicit tools in our safety system and their sustainability. Perhaps the most significant challenge to the financial system that we have experienced so far was that bank crisis of 2009. Going by the manner of resolution it appears that the preferred option was the establishment of Asset Management Corporation of Nigeria - an option that cost something in the order of N5 trillion. Since then we have also seen the use of a mixture of bailouts and bridge banks.

The problem, of course, is that the most reliable studies show that overly generous financial safety nets or system have generally tended to increase bank risks and systemic fragility. My respectful view is that there must be some rethinking of the short and long term implications of the use of these tools and their sustainability in the coming years. A reference was made in the past that we may not even have that option of the AMCON-type bailout given the sheer amount of money that will be involved.

The other issue is coping with the implications for banking of the disruptive technologies that are quickly changing the landscape of financial services. It seems to me that FINTECHS will continue to be most profound force for change both for good and ill, ever seen in the financial services industry.

Indeed, already banks all over the world are investing in FINTECHS and may in time become FINTECHS themselves as these smaller firms are eating faster, with more innovative systems, into the customer base of most of our banks - in mobile payment systems to the various crowd funding ideas. There is no question that regulatory institutions must now spend more time and resources on researching the nature, management of new risks such as the speed of transactions, cross border transactions, money laundering concerns and data privacy and security issues. Training to meet the required compliance capacity will also be crucial.

Thirdly there are the challenges associated with the move towards financial inclusion. In the past four years the Federal Government launched the Social Investment Programme, and in particular the micro-credit programme covering over two million informal traders, and then our Conditional Cash Transfer scheme meant to cover over a million of the poorest in our communities. All of these have formalized to a certain extent services to millions of individuals who were outside the banking system. And with our commitment (and the President has already stated that), we intend to lift 10 million persons annually from extreme poverty for the next ten years.

So, we are looking at a much more phenomenally larger customer base for the banks and of course, with all of the implications that this will have for regulations. With the signing of the African Continental Free Trade Area agreements, we are also bound to see even greater opportunities for our banks whose footprints are already firmly all over Africa. Again these opportunities plus technology present their own issues both for the NDIC, domestic deposit insurers in sister African countries and the regional deposit insurance bodies.

So, the future is without a doubt exciting, but I dare say, will also call for a proactive, nimble and savvy NDIC as well as all other institutions constituting our financial safety net. And we must note this especially when those who should know like Mr. AIG Imoukhuede say without blinking that the regulatory infrastructure today belongs to yesterday, and we may not be prepared for the future. And that is as frightening as one could possibly have the facts, so there is a lot of work to be done.

Let me again congratulate the NDIC for thirty years of exemplary practice. You should be justly proud of your excellent history and antecedents, especially the firm shoulders of the pioneering leadership on which you now stand, you truly have every reason to celebrate.

We pray that the next thirty years will be more glorious for you as individuals and for the NDIC.

HAPPY BIRTHDAY, GOD BLESS YOU.


Laolu Akande

Senior Special Assistant to the President on Media & Publicity
Office of the Vice President

21st October, 2019

PHOTOS: H.E Prof Yemi Osinbajo attends NDIC thirty years anniversary event in Abuja.

Am not surprise at FFK, we all know he speaks from both sides of his mouth. Same FFK some weeks back came out to say yorubas and Christian should protect the VP at all cost, since the "cabal" are after him.
This man should not be taken serious.