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DMO Justifies $13bn Debt Tinubu Will Inherit From Buhari

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The over $13 billion loan owed by the federal government to the World Bank and other international development agencies is no cause for alarm, the Debt Management Office, DMO, has said.

The federal and state governments total debt balance to the World Bank, International Development Association, IDA, and the International Bank for Reconstruction and Development, IBRD, currently stands at $13. 46 billion .

The development has not been well received by many Nigerians who insist that the administration of President Muhammadu Buhari has borrowed too much, leaving huge burdens on the future generations.

The DMO, however , stated that the debt from these agencies are good because they carry small interest, apart from the fact that such loans have a long tenure of repayment.
The justification came amidst reports from a section of the nation’s media condemning the government for overburdening the country with debt.

DMO said: “Following media reports on Nigeria’s debt to the World Bank, the Debt Management Office (DMO) wishes to clarify to the general public that loans from the World Bank come from the International Development Association (IDA) and the International Bank for Reconstruction and Development (BRD).

“According to the media reports, Nigeria’s indebtedness to IDA grew from $6.29 billion in 2015 to $13.46 billion in 2022. Whilst these figures are correct for IDA loans only, it is actually a positive development for Nigeria contrary to the narrative in the media reports.

“Positive development in the sense that IDA loans are concessional, that is, they attract low charges and are for very long tenors in some cases, exceeding 30 years. These are the types of loans required to fund development in countries such as Nigeria. By accessing IDA funding, the Government is actively reducing debt service costs, since non-concessional funding is usually more expensive and for shorter tenors.

“Indeed, it will be inefficient for Nigeria to borrow from commercial sources when concessional funding sources such as IDA are available.

“It would seem that the authors of the media reports did not put into consideration the fact that IDA Loans are concessional, and that it is a plus that Nigeria qualifies for such Loans.

“In addition, it may be useful at this time to state that Nigeria’s Medium-Term Debt Management Strategy (2020-2023) actually states that we will, “Maximize funds available to Nigeria from multilateral and bilateral sources in order to access cheaper and long tenured funds. Therefore, borrowing from IDA (a multilateral organization is actually an implementation of this strategy.”

Meanwhile, not a few watching the nation’s economy insist that the incoming administration will be limited by resource to deliver on its promise to Nigerians due to the huge debt curently owed by the country.

Already, over 80 percent of the country’s revenue is being used to service local and foreign debt, leaving a huge gap on the government’s resources to provide essential infrastructure.

The situation will get worse after President Buhari hands over to Bola Ahmed Tinubu on May 29, critics of the government said.

Nigerian Workers Are the ‘Wheel’ Keeping The Country Running- NBA

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Yakubu Maikyau, the President of the Nigerian Bar Association, NBA, has saluted Nigerian workers as the wheel that keep the country’s economy running.

The NBA president spoke on the commemoration of the May 1 workers’ Day celebration in the country.
Across the nation’s capitals, Nigerian workers are marking this special day with celebrations at specific locations despite the challenges facing them, including unresolved issues of the minimum wage and conducive working environment.

While commending the workers for their resilience amidst the unfriendly economic situation, the NBA president said in a press statement on Monday urged the government to resolve issues concerning better wages for workers.

He said “Nigerian workers, not oil, gold or other natural resources, are our greatest resource.

“Now, more than ever, deliberate steps must be taken to safeguard the socio-economic rights of workers.

“I, therefore, call on the incoming administration at the federal and state government levels, to initiate, reinvigorate, and focus on policies that promotes inclusiveness, protect SMSEs, grow the middle-class and pririotise infrastructural development.

“Within the legal profession, we are working to resolve the perennial challenges of employee remuneration, through the recommendations of the NBA remuneration committee.

“The proposed measures will bring respite to and improve the quality of living of our colleagues.”

Iwuayanwu Demands Nnamdi Kanu’s Release;  Assumes Office As Ohaneze Leader

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Emmanuel Iwuayanwu

By Akinwale Kasali

Following his ratification by the Imeobi Ohaneze as the President General of the Igbo Apex Socio Political Group, Ohaneze Ndigbo Worldwide, Chief Emmanuel Iwuayanwu has called for the immediate release of the Leader of the Indigenous People of Biafra, IPOB, Nnamdi Kanu by the Federal Government.

Iwuayanwu called on President Muhammadu Buhari to release the proscribed IPOB Leader before he leaves office on May 29th, 2023.

According to him, Kanu is very crucial for any key discussion and it is not possible to negotiate any peace while he is in detention.

“It is also important to note that the judiciary has discharged and freed Mazi Nnamdi Kanu. It will be the joy of many Igbo people and Nigerians to see Mazi Nnamdi Kanu released from detention.

“There is also a report that his health is deteriorating. I feel it is important that he is released to have access to his medical doctors so that he does not die in prison,” he warned.

The elder statesman made this assertion during the Imeobi meeting held at the old Government House Lodge, Enugu, where he was presented and ratified as the new leader of Ohanaeze.

In attendance were serving governors and former governors, former leaders of Ohanaeze Ndigbo, leaders of the South-East traditional rulers council and senators among others present.

The governors were led by the host and Governor of Enugu State, Ifeanyi Ugwuanyi and his Anambra State counterpart, Prof. Chukwuma Soludo.

The Chairman of the South-East Governors’ Forum and Governor of Ebonyi State, David Umahi, his Imo and Abia counterparts, Senator Hope Uzodimma and Dr Okezie Ikpeazu, respectively, were represented by their deputies, Mr Kelechi Igwe, Prof. Placid Njoku and Ude Oko Chukwu.

Also present at the event was the presidential candidate of the Labour Party, Peter Obi; Governor-elect of Enugu State, Peter Mbah; former governor of Anambra State, former governor of Imo State, Ikedi Ohakim; former president-generals of Ohanaeze led by Nnia Nwodo, former Minister of Health, Prof. ABC Nwosu, among others.

It would recalled that Iwuayanwu was nominated by the Imo State Government to replace the former president-general of the apex Igbo socio-cultural organisation, Prof George Obiozor, who died in December 2022 after a brief illness.

Ajao Estate Demolition: The Igbo Are Target Of  Governor Sanwo-Olu’s Action

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By Akinwale Kasali

A Group under the aegis of Coalition Of South East Youth Leaders, COSEYL, has alleged that the demolition of houses in Ajao Estate is a witch-hunt against the Igbo over the 2023 Presidential Election that saw the All Progressives Congress, APC, lose in Lagos State to Labour Party.

The Group expressed its disenchantment over the demolition of houses in the area mostly owned by people from the South East.

They accused Governor Babajide Sanwo Olu of fanning the ember of hatred and ethnic hostilities in the State.

The demolition exercise carried out by the Lagos State Building Control Agency, LASBCA commenced on Friday last week all through the weekend and saw over 13 houses demolished on orders of the Governor.

The reason for the demolition, according to the General Manager, of Lagos State Building Control Agency, LASBCA, Gbolahan Oki, is that the affected buildings lacked required approvals and were cited around airport-restricted areas and on aviation fuel pipelines.

Describing the situation as a disaster waiting to happen, Oki said the buildings could cause a pipeline explosion in the future which according to him, could result in loss of lives and properties.

Oki stressed that the property owners lacked the required documents as approvals for construction in that area.

Debunking the claims of the Lagos State Government and LASBCA, the Group said that most of the affected buildings were owned by Igbo people living in Lagos.

COSEYL , the apex Igbo socio-political youth group in the South East,  dismissed the excuses by LASBCA as flimsy, alleging that the action was a political vendetta.

It claimed it was targeted against Ndigbo for voting against the ruling All Progressive Congress, APC, in Lagos during the just-concluded general elections.

The Group in a Statement through its President General, Goodluck Ibem, called on Governor Sanwo-Olu to immediately halt the action to avoid igniting civil unrest.

The statement read in part: “COSEYL is enraged over the massive demolition and destruction of houses and property belonging to Igbos in Rockview Ajao Estate and other areas supposedly won by the Labour Party, LP, during the presidential elections in Lagos State.

“This is wicked, barbaric, senseless, and stupidity of the highest order.

“Governor Sanwu-Olu is gradually building up anarchy and a war that might consume the entire Nation. We warn him to retrace his step and stop forthwith the demolition of Igbo houses in Lagos State.”

It further alleged that the situation has confirmed that the Lagos State Government had explanations to offer in the fire outbreaks in some Igbo-dominated markets in Lagos.

It also challenged the State Government to explain all it knew about ” the attacks and killings of Igbos during the general elections in Lagos”.

The statement further read: “Dr. William Wilberforce Chuba Okadigbo of blessed memory ones said that If you are emotionally attached to your tribe, religion or political leaning to the point that truth and justice become secondary considerations, your education is useless. Your exposure is useless. If you cannot reason beyond petty sentiments, you are a liability to mankind”.

“We call on President Muhammadu Buhari to call Governor Sanwu-Olu to order before he throws the country into anarchy and lawlessness.

“Nigerians no matter the tribe are constitutionally empowered by law to live in any state or community of their choice and that law to bigger than Sanwu-Olu and his partners in crime to change overnight.

“We call on the United Nations and the international community to immediately intervene while also placing a visa ban on Governor Sanwu-Olu and his partners in this wickedness against humanity.”

Crisis Rocks Akwa Ibom State Over Planned Re-mapping Of State; Irate Youths Protest Action

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By Akinwale Kasali

There is pandemonium in some parts of Akwa Ibom following the plan by the State Government to re-map the State. This does not augur well with the Youths and residents of the State.

A Bill titled, “State Map Establishment Bill” has been passed by the Akwa Ibom State House Of Assembly Legislators and presently awaiting Governor Emmanuel’s assent.

Irate Youths from different parts of the State, that Include Youths from Eastern Obolo Local Government Area, Mbo LGA, Ibeno LGA and other LGA of Akwa Ibom State took to the streets to protest the plans, and vowed that it would not sail through.

Pockets of protests were also witnessed in the State Capital, with the angry youths carrying placards with different inscriptions.

The inscriptions on the placards carried by the protesting youths reads: “No Remapping In Eastern Obolo”, “No Peace for the wicked His Excellency Governor Udom Emmanuel”, If You like kill us, we say no to remapping”, Eastern Obolo is not for sale” and several others.

It was gathered that in Eastern Obolo, thousands of the protesters who converged at the Okorettee junction of the town, as early as 7:30 am on Saturday, barricaded the major highways leading to the oil companies operating in the area and stopped official vehicular movement into the town.

The youths spread charms along the road and occasionally gulped dry gin and beer displaying their placards.

President of Eastern Obolo Interest Group, Gabriel Gabriel, who addressed the Youths at the protest ground said that the youths have vowed that no one community in Eastern Obolo would be ceded to another local government area in the name of remapping the State.

He said: ”We are out today because we perceived that the state government has sent surveyors to survey our land for a new map and we are saying no to that policy because they have not come to us to create awareness on what they want to do; we just see them come up with a new policy.

“For now, about 12 communities will be affected and we are saying that none of our communities will leave Eastern Obolo, because they have a reason why they are doing this. Why did the state government not carry out the remapping before now? For 35 years, they have not done anything, if you look at this area, no development. They use the money produced here to develop other places.

“They are going about telling people that mapping the state will end boundary disputes, this is a big lie, look at this place, so instead of peace it will create more trouble”

In the same vein, a former President, Eastern Obolo Forum, Samuel Adaisi said that the claim by the state government that the State does not have a map until now is a lie, adding that anyone who cares to know should check out the state map in the state website and surveyor-general’s office.

“We call this remapping because when the state government started this in 2021, it was remapping, it is only now that they have changed the name to mapping.

“The state government is saying that Akwa Ibom does not have a map; this is a very big lie. If you check the website, the state map is there. All they want to do is cede our communities to others for the sake of oil and we are saying no to this.”

The youth president, Blessing Inglass, who described the attempt to remap the state as “evil” vowed that no community in Eastern Obolo would be ceded out.

He said that the state government’s move to remap the state would create more problems because the stakeholders and community leaders have not been consulted.

“We say no to this evil remapping because our community leaders, traditional rulers’ have not been consulted, so we will resist any attempt to cede any of our lands to another area.”

The Akwa Ibom State Government is yet to react to the protest by the angry youths that marred vehicular movement in the State and locked down the State over the weekend.

CNPP Uncovers Moves To Foist Another Rubber Stamp Principal Officers On NAS

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Chief Willy Ezugwu

Warns That Plot Dangerous For Democracy

Says Nigerians Can’t Endure Another 4 Years Of Executive – Legislative Connivance Against Citizens

Conference Of Nigeria Political Parties has warned that “attempts being made by interested parties loyal to the ruling All Progressives Congress (APC) to ensure the inauguration of another National Assembly with rubber stamp principal officers will be very dangerous for the survival of Nigerian democracy”, insisting that “Nigerians may not be able to endure another four years of Executive-Legislative connivance against the interests and well-being of the masses.”

This was contained in a statement issued in Abuja on Sunday by CNPP’s Secretary General, Chief Willy Ezugwu.

The umbrella body of all registered political parties and political associations in the country noted that “the handwriting can be clearly seen everywhere on the walls by discerning minds and we have uncovered the unholy plot. Hence all democratic forces should be on alert.”

According to the CNPP, “the basic elements of democracy, like the principles of separation of powers and oversights, will be further jeopardized in an event that such selfish and undemocratic clandestine moves towards foisting another rubber stamp legislative arm of government on the people succeed.”

Giving insights into why governments at all levels have been unable to meet the expectations of the people, the CNPP maintained that “no society can make reasonable progress where the legislature and the judiciary pander to the whims and caprices of the executive arm of government.

“This has been the primary reason for the failure of the ruling All Progressives Congress (APC) to keep its campaign promises, particularly resulting to the woeful failure the Federal Government to meet the primary duty of any government, which is to ensure security and welfare of the people.

“As a matter of fact, mutual respect for the principles of separation of powers and checks and balances among the arms of government is the basic foundation for good governance.

“But since 1999, healthy system of checks and balances  have not been fully upheld in the interest of the Nigerian people.

“For the incoming administration to meet its basic duty of ensuring the security and welfare of the people, each branch of government should be allowed to exercise its powers of oversight because the relevance of separation of powers and its implications for good governance cannot be overemphasised.

“Therefore, it will be in the best interest of the incoming administration to prioritise meeting the very many expectations of the people by upholding the doctrine of separation of powers and checks and
balances as well as promoting inclusiness, especially in compositions of the incoming cabinet.

“It will be detrimental to good governance to allow certain interests currently working to subjugate the National Assembly to the executive arm of government as witnessed in the last four years, where the National Assembly was seen approving all loan requests of the President Muhammadu Buhari administration, leaving behind unprecedented debt-burden for generations unborn.

“To this end, the CNPP warns the executive, both the outgoing and the incoming, to allow the legislators to choice their principal officers based on merit without interference, or undue pressure, in the interest of the people.

“We urge the 11th National Assembly to stick to a government of inclusion in all federal appointments to deliberately promote unity and cohesion by adequately reflecting national diversity”, the CNPP stated.

FG Slams Obi, Atiku Over 2023 Presidential Election, Urges Them To Stop Gripping, Accept Defeat

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Bola Tinubu-Peter Obi and Atiku Abubakar

By Akinwale Kasali

The Federal Government has told the Peoples Democratic Party, PDP, Presidential Candidate, Atiku Abubakar and Labour Party, LP, Presidential Candidate, Peter Obi at the 2023 Presidential Election to accept defeat and stop gripping over the poll, which it claims both “lost woefully”.

Speaking on behalf of the FG, the Minister of Information and Culture, Lai Mohammed, said that the duo of Atiku and Obi lost at the polls due to  over-confidence and complacency.

In a Statement by Segun Adeyemi, Special Assistant on Media to Mohammed, the Minister said President Muhammadu Buhari’s analysis of the reasons for the opposition’s loss in the 2023 elections was incontrovertible.

The statement stated:  “President Buhari deserves nothing but accolades for delivering undoubtedly the best election in Nigeria’s history, adding that the tempestuous but predictable reaction to the President’s comments by the opposition has shown them for what they are: shameless sore losers.

”President Muhammadu Buhari lived up to his billing by delivering a free, fair and credible election, and his legacy is assured. The President would rather lose his state and many of his party’s strongholds than tamper with the fidelity of the election, and that is why he provided a level playing field for all parties”.

It stressed further that “the opposition’s over-confidence going into the election stemmed in part from the blitzkrieg of social media propaganda as well as faulty and procured opinion polls, which were apparently meant to hoodwink their foreign backers and a section of the international media into uncritically reporting that they were coasting home to victory when they were indeed heading into the ravine of defeat.”

The Minister further said the Presidential Candidate of the All Progressives Congress, Bola Tinubu, won the Presidential Election fair and square, clinching the majority of the votes cast and surpassing the constitutionally-stipulated 25% of votes cast in each of at least two-thirds of all the states in the Federation and the Federal Capital Territory.

“Going by the results, none of the opposition parties met any of the conditions stipulated for winning the presidential election. They didn’t even come close, in spite of their pre-election grandstanding.

”They (opposition) keep leaning on some international observers to justify their fraudulent claim that the election was rigged.”

Continuing, Mohammed said, “They conveniently forgot what Ambassador Johnnie Carson, the revered US diplomat who co-led the National Democratic Institute and International Republican Institute International Election Observation Mission to Nigeria said that the APC candidate undoubtedly won the polls.

”They also forgot that the African Union Election Observation Mission to Nigeria said the atmosphere was generally calm and peaceful in 95% of the polling units visited,” he said, adding that it is on the strength of these reports that many nations, including the US and the UK, wasted no time in congratulating the victorious APC presidential candidate.”

Reacting to the issue of IReV portal, Mohammed slammed the opposition for continuously seeking to mislead the World by clutching at the weak straw that results were not immediately uploaded onto the portal as if it has any role to play in the collation of results.

He said, “The opposition’s insinuation that the failure to immediately upload the result of the presidential election onto IReV affected the credibility of the election is a fraud. It is an act of blackmail and deceit by desperate individuals.

”The opposition Labour Party, in particular, will go down in the history books as the first-ever distant third-place finisher in a presidential election anywhere to have bold-facedly claimed victory.”

Ekiti Appointment Committee Cries Out Over Intimidation By Political Office Seekers

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Biodun Oyebanji

By Ayodele Oni

Members of the appointment Committee set up by Ekiti state government have cried out over threats and intimidation by political office Seekers.

The committee, set up by Governor Biodun Oyebanji to scrutinize intending political office Seekers and their credentials, have been going round local councils in the state to get necessary information from political leaders on their choice candidates.

Secretary of the committee,Olalekan Ijidale, in a statement on Sunday said some of the applicants are using the Governor’s name to intimidate them.

His statement “It has been brought to the attention of the Appointment Committee set up by the Ekiti State Governor, Biodun Abayomi Oyebanji (BAO) that some people are going about confusing undiscerning members of the public that they are the favourites of Mr. Governor and their appointments had been automatically sanctioned by His Excellency, in spite of the functions of the Committee.

“The committee dispel such misinformation in its entirety and warn those parading themselves in that manner to desist from such an act, which is capable of undermining the outcome of the exercise as duly delegated to Commitee by His Excellency, Governor Oyebanji.

“The Ekiti State Appointment Committee is not a lame duck one. The committee is not embarking on a wild goose chase.

“Rather, the committee takes the task at hand seriously, being conscious of the enormity of its responsibility and the legacy therefrom.

“The committee is making history, knowing that posterity will certainly judge whatever the committee does and the outcome. The committee is therefore not willing to compromise the standard set in order to please anyone.

“The committee has toured all the 16 local governments in the state and read out the guidelines for the nomination of the Commissioner/Special Adviser hopefuls to all leaders in attendance.

“Anything outside the stated guidelines is neither the committee’s brief nor its task and should be outrightly disregarded

“His Excellency, Biodun Abayomi Oyebanji, has made his position known that Ekiti people are to nominate those who would represent their interests in his administration, hence the constitution and inauguration of the Ekiti State Political Appointments committee was not an exercise in futility.

“No one has the special priority of Mr. Governor, neither is the committee going to favour any individual for any reason.

“The committee has made its position known  and  transparent enough to the prospective nominees and  stakeholders at the local government level.

“The nominees from each local government will still undergo screening, and the most qualified will be recommended to Mr. Governor. The process is still ongoing, and no decision has been made on anyone’s nomination yet.

“We hereby enlist the cooperation of everyone for the success of this crucial assignment. The good Lord will surely see the committee through, and this novel exercise will become an enduring legacy.”

How Imported Used Toyota Car Was Used To Import Drugs – NDLEA

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NDLEA Interceps Drug in Toyora Corolla

By Ayodele Oni

It was a week of recorded successes as Operatives of the National Drug Law Enforcement Agency, (NDLEA), impounded various drugs coming in and going out of the country.

The Operatives seized 126 parcels of Canadian Loud, a synthetic strain of cannabis, weighing 63 kilograms concealed in a used Toyota Corolla car imported from Toronto, Canada at the Tincan port in Lagos.

This is even as an attempt by a Freight Agent, Mordi Chukwuemeka Samuel, to export 900 grams of the same substance, Loud, hidden inside walls of a travelling bag containing food items, to Kenya, was thwarted by NDLEA officers at the SAHCO export shed of the Murtala Muhammed International Airport, Ikeja, Lagos on Saturday 29th April.

Spokesman of the Agency, Femi Babafemi said that “When Modi presented the bag, which he claimed contained food items for export, operatives noticed that in the course of searching the consignment, the side walls of the bag were unevenly bloated, after which they dismantled the false packings and recovered the illicit substance.

“The previous day, Friday 28th April, NDLEA operatives at the Tincan port intercepted 63kg Canadian Loud packed in bags in the boot of one of the five used vehicles in a container marked, TLLU4840762 coming from Toronto via Montreal, during a joint examination with other stakeholders at the port.

“Similarly, men of the Agency’s Directorate of Operations and Investigation, (DOGI), attached to courier firms also on Thursday 27th April intercepted 1.53kg skunk concealed in old hard drives meant for export to Dubai, United Arab Emirate.

“In Benue, operatives recovered 859 bottles of Codeine based Syrup weighing 117.3kg abandoned by a suspected dealer about two kilometers away from NDLEA checkpoint along Enugu – Otukpo road on Wednesday 26th April.

“Two suspects: Kabiru Muhammed, 35, and Isah Muhammed, 28, were arrested with 20 blocks of cannabis weighing 11.2kg concealed in a bag of cassava flakes (garri) along Zaria-Kano road, Kano on Friday 28th April.

“No fewer than seven bags of cannabis with a gross weight of 74.5kg were recovered when operatives raided an uncompleted building located in a bush in Ala town, Akure area of Ondo state.

“Also, 60kg of the same substance concealed among footwear in two jumbo sacks was recovered from one Aminu Mohammed along Ibadan – Oyo road, Oyo state while waiting to board a vehicle to Kebbi State.

“In Adamawa state, NDLEA operatives on Saturday 29th April raided a clandestine factory in Mubi, where a new psychoactive substance, Akuskura, was being produced in large quantity and distributed to Chad, Cameroon and Niger Republic.

“At the time of the raid, production activities were ongoing in the premises.

“Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd) has commended the officers and men of MMIA, Tincan, DOGI, Kano, Ondo, Oyo, Benue and Adamawa Commands of the Agency for their vigilance and professionalism in the discharge of their responsibilities.”

Development is Non-Partisan, Non-Tribal, Non-Religious – Says Obi

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Peter Obi in Gombe

The Presidential Candidate of the Labour Party, Mr Peter Obi, has explained called on political office holders to go beyond the barriers of political partisanship, tribal affiliations and religious inclinations in their contributions to the development of the society.

Obi made this submission at the 15 Founder’s Day Lecture of Western Delta University, Oghara Delta State. Obi said that though The Visitor to the University, Chief James Ibori and The Founder’s Day Guest Lecturer, His Excellency Fayode Kayemi, were in different political parties from him, he attended the event because of his love for education and its developmental impact on the nation.

Obi emphasized that political parties should present credible candidates based on character, competence, integrity and emulatable track records. “And when they are given opportunity to serve,” Obi said, “They must serve without recourse to any form of bigotry.”

He wished the students well in their academic endeavours, urging them to remain committed to their educational pursuits.

Welcoming Obi to the Institution, the Visitor to the University, Chief James Ibori, described Obi as an experienced leader who has contributed greatly to nation building. He appealed to Peter Obi and Kayode Fayemi join as visiting lecturers in the School of Leadership in the University, and they both agreed.

The event saw to the coming together of other eminent Nigerians like Former Governor of Delta State, His Excellency Emmanuel Uduaghan; Chairman of the THISDAY Media Group and ARISE News Channel, Chief Nduka Obiagbena; Publisher of Ovation Magazine, Dele Momodu; a host of academicians and  captains of industries.