Ogala: Why APC Congresses Remain a Nullity in Eyes of Law Says all party structures hitherto dissolved must be re-instated from NEC to ward executives Explains PDP, Jegede didn’t challenge votes cast but nomination of APC candidate Former National Legal Adviser remained a nullity in the eyes of views on the problems associated (NWC) without the former National Board of Trustees (BOT) should he reiterated his conviction that of the APC, Mr. Babatunde Ogala the law and should be cancelled with the congresses of the party. Chairman, Adams Oshiomhole, have held sway, however,lamented the congresses of APC remained (SAN), has again advanced legal forthwith. In his first view, he recommended because his suspension followed that, as at press time, the ruling a nullity in the eyes of the law. reasons why the All Progressives This is the second time in a row the reinstatement of the dissolved due process. party had no BOT. Congress (APC) congresses that he was advancing his legal National Working Committee Ordinarily, he said the party’s Yet, in his second legal opinion, Continued on page 55 How Billionaire Businessman, Capt Hosa, 63, Died of Pancreatic Cancer...Page 8 Monday 9 August, 2021 Vol 26. No 9618. Price: N250 www.thisdaylive.com T RU N TH & REASO TODAY'S WEATHER ABUJA MAIDUGURI ENUGU KANO LAGOS PORT HARCOURT 25°C-33°C 31°C-31°C 25°C-28°C 27°C-33°C 24C-27°C 20°C-30°C 2023: Who Leads Nigeria? With 559 days to election, search for a new president begins ]Obinna Chima With exactly 559 days to the 2023 presidential election, the search for a new leader for Africa’s most populous country and largest economy – Nigeria – has begun. Continued on page 60 YemiYemiOsinbajo Osinbajoj Kayodey Fayemiy Godwin Emefiele OkonjoOkonjo-Iwealaj -Iweala AkinwumiA Adesina Amina Mohammed BukolaB Saraki Benedict Oramah Aminu Tambuwal Kingsley Moghalu Nasir elel-Rufai-Rufai RajiR j Fashola Godwin Obaseki Charles Soludo Peter Obi Sanusi Lamido Sanusi RRotimi Amaechi Atedo Peterside Abdullahi Sule Aliko Dangoteg Herbert Wigweg Abdulsamad Rabiu Segung Agbajeg j Aigboje AigAig-Imoukhuede-Imoukhuede LeoL Stan Timipre Sylva Udoma Udo Udoma Abubakar Bagudu Ibikunle Amosun Tony Elumelu Seyi Makinde PDP National Vice Chairmen, Others Ask Secondus to Resign... Page 10 2 MONDAY AUGUST 9, 2021 •THISDAY MONDAY AUGUST 9, 2021 • THISDAY 3 4 MONDAY AUGUST 9, 2021 •THISDAY MONDAY, ΁˜ͺ͸ͺ͹˾THISDAY 5 Group News Editor: Goddy Egene NEWS Email: [email protected], 0803 350 6821, 0809 7777 322 MINISTERIAL RETREAT... L-R: Permanent Secretary, Federal Ministry of Transportation (FMOT), Dr. Magdalene Ajani; Minister of Transportation, Rt. Hon. Chibuike Amaechi; Minister of State for Transportation, Senator Gbemisola Saraki; Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh; Acting Managing Director, Nigerian Ports Authority (NPA), Mohammed Koko Bello; and Executive Secretary, Nigeria Shippers Council (NSC), Emmanuel Jime, at the FMOT Ministerial Retreat (Second Phase) held at Oriental Hotel, Lekki, Lagos...recently With Planned Dividend Payout, NNPC Prepares for Life Outside FG’s Control Corporation’s April expenditure rises by 17.2% to N492.05bn Emmanuel Addeh in Abuja and its operations. And therefore, NNPC, being the declare dividends and also pay all Mr. Bismarck Rewane, who alluded have paid dividends in the prior Peter Uzoho in Lagos Nigerians were shocked recently representatives of all of us and, is, fees, rents, royalties, profit oil share to the process of listing in a note three years. This announcement to hear the Group Managing Director of course, a very potential global taxes and other requirements on any at the weekend, stressed that the was swiftly followed by the FEC The Nigerian National Petroleum of the NNPC, Mr. Mele Kyari, player, this is our ambition and we lease or licence. planned action by the national oil approval of NNPC’s acquisition of Corporation (NNPC) is assiduously declare in public on three separate are getting there. However, THISDAY learnt company could be a precursor to a 20 per cent stake in the Dangote working towards the payment of occasions that the corporation which “And I can tell you, within the next yesterday that to satisfy the standard its listing in 2022. Refinery and Petrochemical project. dividends to its shareholders, has consistently operated at a loss month or two maximum, we will for listing, which the NNPC would Rewane, noted that listing of “These decisions are not only huge notably the federal, state and local plans to pay dividends like the publish our statement of accounts for be mandated to do under the new the NNPC like it’s Saudi Arabia but are potentially transformational for governments, to satisfy one of the Nigerian Liquefied Natural Gas 2020. And I can also confirm to you law, Financial Standard ‘A’ requires counterpart, Aramco, could boost the petroleum sector in Nigeria, which conditions for listing on the Nigerian (NLNG) Limited. that for the first time in our history, that a company which wants to market capitalisation by as much as had been hitherto in a moribund state. Exchange Limited (NGX), THISDAY The first instance was during an we will declare profit to the Nigerian be listed on the main board of the 65 per cent to hit N33 trillion when “The governance requirements learnt yesterday. interactive session with the National people,” he told his audience. exchange must provide three years the deal is completed. of listed companies is likely to Within the first six months of Association of Energy Correspondents Clause 53 of the legislation recently financial statements, the most recent “Only a discerning analyst would force the NNPC to become more the operation of the new petroleum (NAEC) in Abuja, last November; passed by the National Assembly, of which must not be more than nine have raised his eyebrow when the transparent and accountable in its legislation, expected to be signed into the second was when he appeared says the petroleum minister must months old at the time of application NNPC announced its intention to financial management,” Rewane said. law by President Muhammadu on ARISE News Channel to clarify consult with the minister of finance to submission. pay its first dividend in September Meanwhile, the NNPC in its Buhari any time soon, the Minister issues around the Dangote Refinery, determine the number and nominal In addition, the standard requires 2021. He would ask if this was a April 2021 edition of the NNPC of Petroleum Resources, being the and the third was last week in Lagos, value of the shares to be allotted, that company must provide financial precursor for listing the oil behemoth Monthly Financial and Operations president, is mandated under the while delivering an address at an which would form the initial paid-up statements with the date of the last on the Nigerian stock market just Report (MFOR), released yesterday, Petroleum Industry Bill (PIB) to event organised by the Society of share capital of NNPC Limited. audited accounts not being older than like Aramco did in Saudi Arabia. stated that its expenditure for the incorporate the NNPC as a limited Petroleum Engineers (SPE). In addition, 53 (7,8) provides nine months. “Aramco IPO has been the world’s month under review increased by liability company to be known as “Everything we are doing must that NNPC Limited must operate The Chief Executive of Financial largest to date. To list any company 17.24 per cent or N72.34 billion to NNPC Limited, to fully commercialise align with the wider national interest. as an, “efficient profit-making entity,” Derivatives Company Limited (FDC), on the exchange, the company must N492.05 billion. The national oil company also announced a trading surplus of N43.57 billion in April 2021, FG Begins Implementation of representing a 23.64 per cent increase over the N35.24 billion surplus it recorded in the previous month of March 2021. It also clarified that CBN's N250bn Gas Expansion Fund its calculation of trading surplus or trading deficit was derived after deduction of the expenditure Targets 3m jobs Absence of cars for conversion, high gas price hurting autogas initiative profile from the revenue for the Ndubuisi Francis in Abuja gas processing plants and small-scale This is with a view to supporting as well as organisationall structure. through access to financing,’’ she said period under review. and Peter Uzoho in Lagos petrochemical plants, gas cylinder large industries such as agriculture, Giving further details, Brenda SMEs, she added, would also According to the report, the manufacturing plants, Compressed textile and related industries. Ataga, who is the Senior Technical follow similar structure, noting that NNPC's operating revenue in April The federal government has com- Natural Gas (CNG) regasification The fund, he added, would service Assistant on Gas Development and start-ups would enjoy some leniency 2021, as compared to March 2021, menced the implementation of the modular systems, automatic the development/enhancement of Investment to the Minister of State, in the financial model. increased by 17.73 per cent or N80.67 Central Bank of Nigeria's (CBN) conversion kits or components auto gas transportation systems, Petroleum Resources, Chief Timipre Stating that SMEs will prove billion to stand at N535.61 billion. N250 billion intervention fund for the manufacturing plants, CNG primary conversion and distribution infra- Sylva, said the fund was launched that they are registered in Nigeria, The NNPC attributed the rise in National Gas Expansion Programme and secondary compression stations, structure, enhancement of domestic August 2020 by the CBN, adding pay their taxes, prove affiliation trading surplus to the activities of (NGEP), which is expected to cre- as well as micro distribution outlets cylinder production and distribution that since then 27 applications had to first-class companies which are the corporation’s upstream subsidiary, ate about three million direct and and service centres of liquefied by cylinder manufacturing plants been recorded on the high capital already established businesses with the Nigerian Petroleum Development indirect jobs.