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Wike Gives Eight-Month Ultimatum for Abuja Light Rail Completion

August 23, 2023

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, on Wednesday, frowned at the dysfunctional state of the Abuja light rail and directed the permanent secretary to complete payment to the Chinese concession company in order to conclude rehabilitation of the rails within eight months.

Wike gave the ultimatum during an inspection of the Abuja Metro Station in Idu and at the Airport Station on his first assignment outside the office, less than 48 hours after the swearing-in of the 45 new ministers.

He further asserted that the task of restoring the Abuja metro had become crucially fundamental as part of President Bola Tinubu’s promise to alleviate the suffering of Nigerians within the shortest possible time.

At the main terminal of the metro station, Wike, flanked by the Minister of State for FCT, Mairiga Mahmud, and other officials, addressed the contractors, questioning the quality of work.

Proceeding on the tour, the FCT minister took the train ride from the metro station, through the Idu Station and then to the Airport Station.

The rails, originally developed in six phases, were funded with loans from the China EXIM Bank. After the vandalisation of the vital rail infrastructure, the FCT Administration awarded a fresh N5 billion contract in August 2023 for its rehabilitation within 12 months.

The Abuja light rail commissioned at the metro station opened for business in 2018 and operated for about two years before the train service folded up, owing largely to vandalism.

Wike, who is the first southerner to become minister of the FCT, hopes to present a rehabilitated rail system to the President for commissioning by April 2024.

Nigeria’s VP Expresses Tinubu’s Passion For MSMEs Empowerment

Rhoda Onuzulike

August 23, 2023

Nigeria’s Vice President, Senator Kashim Shettima says President Bola Tinubu is very passionate about empowering Micro, Small and Medium Enterprises (MSMEs) for the development of the nation’s economy.

Director Information, Office of the Vice President, Olusola Abiola said in a release that the Vice President stated this on Monday when he spoke with journalists during his tour of exhibition stands at the BRICS Trade Fair.

“It is a known fact that the empowerment of the MSMEs is key to empowering our youth and women towards contributing to the nation’s economic development,” the Vice President said.

Speaking further about the commitment of President Tinubu towards empowering the MSMEs, he said “the President is a very compassionate leader and in the coming months, there will be changes in the fortunes of Nigeria.”

Explaining the economic impact of the growth of MSMEs on the economy, VP Shettima said “this will have positive impacts which will enable them to support their families and add value to the nation.”

The Vice President commended the organizers of the trade fair, which had about 180 exhibitors from various sectors of the economy.

He stressed that the exhibitions will in the long run serve the purpose of galvanising investment and trade in the continent.

Vice President Shettima who took time to inspect Nigeria’s exhibitions, lauded the investments of Nigerians in South Africa.

“I am quite impressed by the investment Nigerians are making in South Africa. This is the harbinger of greater things to come. I can say that Nigerians are active in digital economy, they are active in fashion, they are equally active in mining,

“I am glad that quite a number of our country men are doing well and are willing to partner with the home nation for the greater glory of the African continent.”

While praising Rose Bank, a Nigerian investment outfit in South Africa, for the funding of a cassava project worth 40 billion Naira, the Vice President affirmed that “it is game a changer with the cassava value chain with its huge economic benefits. We hope that it will be reflected in other parts of the country.”

The Trade Fair is being organised by the BRIC South Africa & The SA BRICS Business Council (SABBC) in collaboration with the Department of Trade Industry and Competition, on the sidelines of the on-going 15th BRICS Summit.

The exhibition is expected to serve as a platform for showcasing products and services from the BRICS countries as well as business-to-business interaction aimed at increasing intra-BRICS trade and investments.

The Vice President was accompanied to the Trade Fair by Nigeria’s High Commissioner to South Africa, Ambassador Muhammad Haruna Manta, the Consul-General, Ambassador Andrew Idi and other senior government officials.

Billionaires Behind Shanghai’s Long Museum To Sell Works From Their Collection At Sotheby’s

Koko Lawrence

August 23, 2023

Billionaire collectors Liu Yiqian and Wang Wei, the founders of Shanghai’s Long Museum, will sell an estimated $150 million worth of art this auction season at Sotheby’s.

Founded in 2012, the Long Museum has become a major player in the Shanghai art scene. It was initially based in the West Bund district of Shanghai, and has since opened a second location in the city’s Pudong neighborhood. It now also operates a space in Chongqing.

Specific dates for the Sotheby’s sale, which was first reported by Artnet News on Tuesday, have not yet been announced.

Between 50 and 60 works will be sold. Works by Amadeo Modigliani, Zao Wou-ki, Kazuo Shirago, Leonard Foujita, René Magritte, David Hockney, Matthew Wong, Dana Schutz, Nicolas Party, Georgette Chen and Yayoi Kusama, will be among those sold, Sotheby’s said in a statement.

According to sources, other works by Jenny Saville and Kerry James Marshall are among the works that are being considering for sale.

In June 2016, the museum acquired Jenny Saville’s painting Shift (1996–97) for then-record price of $9.1 million at a Sotheby’s auction. The same year, the Long Museum was the buyer of a 1992 painting by Kerry James Marshall at Christie’s in New York. The work, titled Plunge, sold for $2.1 million, breaking the artist’s record at the time.

It was reported that the couple approached executives and specialists for Christie’s, Sotheby’s, and Phillips to pitch proposals to sell works of contemporary and modern art from the holdings. The reason for the sale is still unknown.

It is uncommon on the auction circuit for collectors who are so major and so active to sell works from their holdings at auction.

Since the museum’s opening more than a decade ago, the pair’s profile rose as a private museum boom hit China. Their museum has mounted major exhibitions featuring contemporary artists like Olafur Eliasson and James Turrell.

Sotheby’s has said that funds from the planned sales will go toward initiatives and future acquisitions at the museum, which plans to remain open.

Nigerian, Ghanaian Institutes to Boost IT Skill Devt

Rhoda Onuzulike

August 23, 2023

Two institutions in Nigeria and Ghana are exploring partnership to foster knowledge and talent exchange, research advancements, and cultural understanding to boost information technology (IT) skills in Africa.

The two institutions – Tezza Academy, Nigeria and Accra Institute of Technology (AIT), Ghana – believe partnership is one of the ways to produce the pool of IT skills needed to drive the continent.

President of AIT, Prof Clement Dzidonu, had taken advantage of his visit to Nigeria to explore the Tezza Academy’s facility. He was welcomed by the Tezza team, including Equity Partner, Jide Modele; Managing Director, Jide Adams; and Facility Manager, Damilare Dairo.

Dzidonu described the academy as a fitting model for instilling industry-required skills into young people, especially graduates of tertiary institutions which are often not well-kitted by their academic background to the changing dynamics of the workplace.

Speaking after a facility tour of the academy in Lagos, Dzidonu said partnership could open opportunities for the two organisations in both countries leading to internships, job opportunities for students and graduates as well as industry-sponsored projects to address one of the growing challenges on the continent for closing knowledge gaps and nurturing highly skilled IT professionals across sectors.

Modele said the academy is committed to tackling the drain of highly skilled IT professionals, locally referred to as the ‘japa syndrome’ by “discovering, equipping, and training self-motivated youths in conjunction with our global partners in specialised IT disciplines.”

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Modele said by retaining talented individuals and providing them with cutting-edge IT skills and opportunities, the Academy is seeking to transform the brain drain into brain gain thus contributing significantly to Nigeria’s Global Value Chains (GVCs) as an important human capital export nation.

Tezza Academy offers free tuition and residency programmes empowering young Nigerians with high-end IT skills and ensuring job placements upon completion of a three-month intensive training. Since 2020, the Academy has been forging partnerships and delivering high skill sets required across sectors locally and offshore allowing trainees to be absorbed into client sites in a way that effectively addresses unemployment and employability challenges in Nigeria.

Established in 2009, AIT is an independent technology-focused research university based in Accra, Ghana. Modeled on internationally recognized institutes like the Massachusetts Institute of Technology (MIT), USA, AIT is consistently ranked among Africa’s tech-focused universities.

Dzidonu, a professor of Computer Science, expressed keen interest in introducing a Tezza initiative in Accra while laying the groundwork for a potential partnership with Tezza Academy in a way that allows AIT to leverage its well-regarded status and vast network in Ghana to facilitate placements for program graduates.

According to him the AIT will, among other things, explore a Ghanaian Immersive Program in Accra with the same class size as Tezza Academy’s current cohort; and work out placement facilitation in recognition of the challenges faced by university-taught programs in engaging graduates.

The strategic alliance aims to connect the brightest talents from various universities in Ghana to Tezza Academy’s immersive program, ensuring career pathways for young professionals. This exchange program could further promote cultural diversity and provide students with a broader perspective on technology and innovation in different contexts within Ghana and Nigeria, Dzidonu added.

The collaboration also envisions providing entrepreneurship support for student entrepreneurs to strengthen the development of startup incubation programs and access to funding opportunities for innovative projects.

Tezza Academy is promoted by Tezza Business Solutions, a leading B2B IT and Business Consulting company bridging the gap between clients and exceptional local talents across Africa.

BRICS Bank Okays 30% of $10b Loan in Local Currency

Rhoda Onuzulike

August 23, 2023

The New Development Bank (NDB) – BRICS Development Bank will be lending $10 billion this year, its President Dilma Rousseff has hinted.

Thirty per cent of such facility will be made available to beneficiaries in local currencies of the borrowing countries, Rousseff, who spoke in an interview with Financial Times, explained.

The multilateral development bank was established in 2015 by the BRICS nations (Brazil, Russia, India, China and South Africa).

She hinted of plans to begin lending in South African and Brazilian currencies in order to reduce reliance on the United States (U.S.) dollar.

According to her, lending in local currency would allow borrowers in member countries to avoid exchange rate risk and variations in U.S. interest rates.

She, however, clarified that the local currencies are not alternatives to the dollar.

Although Nigeria is not a member of the BRICS club, but Vice President, Kashim Shettima is attending the BRICS 15th summit which kicked-off Tuesday in Johannesburg.

Brazilian president supports more countries in BRICS

On the agenda for discussion are: an expansion of the bloc; greater use of local currencies and the possibility of a BRICS currency which may have the potential to challenge the dominance of the U.S. dollar.

Already, there has been a drop in the dollar’s share of central banks’ foreign reserves, but dollar usage has held up very well in commerce, private assets, debt issuance, and generally on the global forex market.

Rousseff said the Shanghai-based lender was considering applications for membership from about 15 countries and was likely to approve the admission of four or five.

She declined to name the countries but said it was a priority for the NDB to diversify its geographic representation.

“We expect to lend between $8 billion-$10 billion this year,” Rousseff said.

Continuing, she said the bank’s aim is to lend about 30 per cent of the fund in local currency.

She said the NDB would issue debt in Rand for lending in South Africa and do “the same thing in Brazil with the real. We’re going to try to either do a currency swap or issue debt. And also in rupees.”

Rousseff said the bank has also tried to distinguish itself from the World Bank and the International Monetary Fund (IMF) by not setting lists of political conditions on loans.

“We repudiate any kind of conditionality,” Rousseff said.

Often a loan is given upon the condition that certain policies are carried out. We don’t do that. We respect the policies of each country,” she said.

Analysts said that despite talk of an enlarged BRICS alliance and the possibility of a new currency which could challenge the dominance of the dollar, the greenback is not in any immediate danger of losing its status as the primary global currency.

Govt Unveil Plans On Electric Vehicle Transit Scheme

Rhoda Onuzulike

August 23, 2023

In a bid to enhance transportation efficiency and address growing concerns over fuel costs, the Ministry of Transportation has announced its plans to procure a fleet of electric vehicles.

This move is expected to not only reduce the carbon footprint but also contribute to the ease of movement for commuters nationwide.

The newly sworn-in Minister of Transportation, Sa’idu Alkali, disclosed this in Abuja on Tuesday when he resumed duty at the Ministry.

Lagos State Officially Launches Electric Vehicle Mass Transit Buses

According to him, with the procurement of these vehicles, there will be a decrease in the expense of transportation which is presently high because of the elimination of fuel subsidies.

He said, “The Ministry of Transport must assume a leading role in improving the public transportation sector to support the numerous policies that are geared towards providing democratic dividends that are accessible to ordinary Nigerians through effective provision of public transport that is secured, affordable and convenient across the country.

“So, I am going to ensure that the mass transit system is effective and put in place. The agenda of Mr. President is renewed hope and we will make sure that with the removal of fuel subsidy, we have an effective mass transit system and see how we can procure electric vehicles so that at least the cost of transportation with even the mass transit system is reviewed downward across the country.

“I will also ensure a sustainable collaboration with related ministries, agencies, and corporate entities to reactivate the road transport and mass transit operations in the country.”

The minister further noted that he would rehabilitate the rail transport sector targeted at ensuring secure and efficient operation.

“I will under the careful study of prevailing economic trends, undertake the provision, modernization, rehabilitation, planning, and development of the rail transport sector with efficient security services to support the realization of the primary purpose of government.

“This initiative will no doubt maximize the potentials embodied in the recent Constitutional alterations that moved rail transport services from the exclusive list to the concurrent list. It will also reduce the frequent menace on our roads characterized by accidents, kidnappings, and armed robbery,” he added.

Alkali went on to say that he would embark on monitoring and evaluating the performance of agencies under it towards the realization of the government’s renewed hope mandate, adding that he would provide an enabling work environment for the staff.

He, however, warned that he would not tolerate any form of negligence and indiscipline.

“To ensure the realization of the “Renewed Hope” of this administration, I have resolved to ensure effective supervision, monitoring, and evaluation of the performance of all the departments of the Ministry and its agencies to meet operational standards, judicious expenditure management, and optimal productivity.

NCAA Begins Automated Operating Licence Process

Rhoda Onuzulike

August 23, 2023

The Nigerian Civil Aviation Authority has adopted automated procedures for processing Airline Operators’ Certificates for intending airlines and existing operators after several years of processing them manually.

According to a statement signed by the Director-General of Civil Aviation, Capt. Musa Nuhu, the NCAA had adopted electronic processes for AOC acquisition and directed all intending airlines and existing carriers to follow the new procedures.

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Nuhu said that the regulatory body had enhanced AOC Operations Specifications (Op.Specs) for all current AOC holders.

According to him, the directive was contained in an All Operator Letter referenced NCAA/DG/AIR/11/16/370, dated August 18, 2023, and is applicable to all AOC holders certificated by the authority.

Aviation stakeholders have long been advocating for the adoption of electronic processing for the AOC procedures, citing Europe, America and other parts of the world where manual procedures had been abandoned for automation.

The statement added, “These new and enhanced multi-paged Op.Specs contain the authorisations, conditions, limitations and approvals issued by the Authority in accordance with the standards which are applicable to operations and maintenance conducted by the AOC holder.

“In view of the above directive, all AOC holders are required to electronically complete the appropriate pages of the attached Op.Specs and return same to the NCAA via only email addresses indicated below on or before August 23, 2023.”

Nuhu directed the operators to send the appropriate pages to Chairman, Flight Standards Group, Godwin Balang; Director, Operations, Licensing and Training Standards, Capt. Ibrahim Dambazau and Director, Airworthiness Standards, Gbolahan Abatan.

‘All Eyes on The Judiciary’ Advert Agency Apologises, Stakeholders React

Rhoda Onuzulike

August 23, 2023

Stakeholders in the marketing industry have expressed their misgivings over the controversial ‘All Eyes on The Judiciary’ ad exposure, wondering how such content went public without proper regulatory approval.

This is even as the advert agency, Intercontinental Marketing & Comm. Consortium Limited, responsible for allegedly deploying the controversial ‘All Eyes on The Judiciary’ ad exposure tendered an official apology to the federal government through the Advertising Regulatory Council of Nigeria (ARCON).

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In a circulated letter signed by its managing director, Stephen Ogboko, dated 17th August 2023 and addressed to the chairman of the Advertising Standard Panel (ASP), the agency acknowledged its breach of Article 24(a) of the Nigeria Advertising Practice code. This article stipulates that all advertising, marketing communications, and related materials must undergo ARCON’s vetting process and secure the approval certificate of the Standards Panel prior to public exposure.

‘We sincerely apologise for this and state that our action was not intentional,’ the agency wrote. Explaining its side of the story, the agency explained that it went ahead with the Ad after the board got verbal approval from a certain Mr. Markus Inji Lukman, who was said to be an ARCON liaison officer.

“We are deeply disappointed that this happened and are awfully sorry for any inconvenience it has caused.

We would never knowingly do anything to violate the law or the regulations guiding advertising practice, jeopardise our practice licence, or bring disaffection to our dear country’s judiciary.

“We have already taken steps to ensure that this does not repeat itself. We will be requiring all future advertisements to be vetted from the ARCON Lagos office through our staff in Lagos. Once again, we apologise and hope that you will consider our explanation. We are committed to working with you to ensure that this does not happen again.” the company added.

While the industry responds to this development, some experts, such as Obiechefu Emmanuel, a marketing professional with expertise in media buying, have raised concerns about the agency’s actions.

He said:“I have been buying media in this market for over a decade and I can tell you authoritatively that you do not deploy ad materials without an approval certificate from the ASP. How do you go ahead to deploy because someone somewhere in the ARCON office gave you verbal approval? Why the hurry in the first place? I don’t think even the director general can ask you to go ahead and deploy without an approval certificate.”

Olusegun Sasegbon, who also plays in the space, suspects there is something more: “As a professional and as an agency, we all know that verbal approval by anybody in ARCON setting does not translate to an approval certificate. I think it is part of the law that an approval certificate must be obtained before the exposure of material. It is just like saying that you can go ahead and take a trip to the United States because someone in their embassy has given you assurances that your visa application has been granted and your passport will be sent to you after your trip. This could be a form of compromise between the agency and the ARCON staff. In this country, nothing is impossible,” he pointed out.

Likewise, another expert, Ibezim Okpala presents an alternative perspective, suggesting that the agency’s swift action may have been driven by an understanding that the campaign might not receive ARCON’s approval. He highlights the extensive social media traction garnered by the campaign, emphasising the apparent success of its intended impact. “I am sure the agency is aware its ad material will not scale through the vetting process, hence, it quickly deployed, achieved what it intended and waited for the consequence of their action.

“You only need to go on social media to see the millions of impressions images of the messages on boards and the buzz it generated to understand that the intent by those behind the message has been achieved. I believe the apology shared by the agency is just a mere formality,” he said.

Meanwhile, Emmanuel observed that the implications of this situation extend beyond mere unauthorised edits, transcending into questions of integrity, accountability, and adherence to established protocols, the very foundation of the approval process for such critical and influential communications rests upon a delicate balance of trust, transparency, and adherence to established guidelines.

Betty Eromosele, another expert in the industry wrote: “All Eyes Are Now on ARCON” to see how it will handle all the issues arising from the All Eyes on the Judiciary saga.”

Sofia Coppola’s ‘Priscilla’ Acquired by MUBI for International Distribution

Emenike Agu

August 23, 2023

Global film distributor, Production Company and streamer MUBI has acquired international rights, excluding North America and Italy, for Sofia Coppola’s “Priscilla,” which will premiere in competition at the Venice Film Festival.

MUBI will retain all rights in the U.K., Ireland, Germany, Austria, Latin America, Benelux and Turkey. MUBI will release the film theatrically in the U.K., Ireland, Germany, Latin America, Belgium and Netherlands and will reveal release dates imminently. The Match Factory is handling sales for all other acquired territories excluding North America and Italy.

“Priscilla” is based on the 1985 memoir “Elvis and Me” written by Priscilla Presley and Sandra Harmon. The film stars Cailee Spaeny as Priscilla, Jacob Elordi as Elvis Presley, and Dagmara Dominczyk.

In the film, when teenaged Priscilla Beaulieu meets Elvis Presley at a party, the man who is already a meteoric rock-and-roll superstar becomes someone entirely unexpected in private moments. Through Priscilla’s eyes, Coppola explores Elvis and Priscilla’s long courtship and turbulent marriage, from a German army base to his estate at Graceland.

The film was produced by Lorenzo Mieli for Fremantle’s The Apartment Pictures, Coppola for American Zoetrope and Youree Henley. The film was financed by Fremantle Group. A24 will distribute in the U.S. and Sky’s Vision Distribution will distribute in Italy.

Two MUBI co-productions will world premiere at Venice this year — Michel Franco’s “Memory,” which will screen in competition and stars Jessica Chastain and Peter Sarsgaard; and Bill Ross IV and Turner Ross’ “Gasoline Rainbow,” which will premiere in the Horizons strand. The Match Factory is handling international sales for both films.

New Museum In Lisbon Will Feature Artworks Seized From One Of Portugal’s Top Collectors

Koko Lawrence

August 23, 2023

A new contemporary art museum slated to open in Lisbon, Portugal, in October, will feature art from a collection that was previously seized by the state from a top Portuguese collector.

The collection of business tycoon José “Joe” Berardo, known as the Berardo Collection, was seized by the Portuguese state in 2019 after Berardo failed to pay three Portuguese banks the more than $1 billion debt that he owed. The artworks were placed as collateral for the bank loans. Berardo was arrested for alleged fraud in 2021, but was subsequently released on bail.

The Berardo Collection includes more than 900 artworks by such stalwarts as Pablo Picasso, Joan Miró, Piet Mondrian, Gerhard Richter, and Francis Bacon. In 2006, it was valued at €316 million ($352 million) by Christie’s auction house.

It will be part of the inaugural presentation at the Museum of Contemporary Art (Museu de Arte Contemporânea/Centro Cultural de Belém) on October 28, according to Centro Cultural de Belém (CCB). Others on view include the Ellipse Collection, the Teixeira de Freitas Collection, and a solo exhibition by Belgian artist Berlinde de Bruyckere.

“It is a very important moment of affirmation of the multiple valences of the Centro Cultural de Belém, allowing the dialogue between the visual arts, architecture, and performing arts,” according to a museum spokesperson.

Boasting a more than one-million-square-foot facility, CCB is Lisbon’s primary complex for arts and culture. The Berardo Collection Museum has been housed in the complex’s exhibition center since June 2007.

The Berardo Collection is not the only one with controversy, however; the Ellipse Collection was compiled by the late banker João Rendeiro, who went bankrupt and fled the country in September 2021. He was arrested in South Africa almost exactly a year later and, that December, died by suicide while in prison.

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