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THE Pharmaceutical Society of Nigeria, PSN, Akwa Ibom State branch has expressed concern over Pharmacist per capita ratio in the country, demanding for employment of Pharmacists to fill the existing gaps in some government hospitals in the state.

According to a communique made available to newsmen on Sunday, the call formed part of the resolution reached at end of the 2023 Akwa Ibom Pharmacy week with the theme,”Pharmacists: Strengthening Health Systems”, held last week in Uyo.

It reads in part: “The society noted that pharmacy practice ramifies with all the six building blocks, as enunciated by the World Health Organization, that enhance a strong health system which are; Service delivery, Health workforce, Information, Financing, Medical products, leadership and governance.

” Identifies the lack of proper leadership and governance in our Hospitals and the Health sector at large as one of the key reasons for these sub- optimal health outcomes.

” The society is deeply concerned that the Pharmacist per capita ratio in Nigeria is 1: 22,000 ( based on 220M population) as against the World Health Organisation recommendation of 1: 5000.

“To this end, we call for the employment of Pharmacists to fill the existing gaps in some government hospitals in Akwa Ibom State. This will ensure that healthcare consumers have the benefits of pharmaceutical care and guarantee of safety in drug therapy

” It Commends the Governor of Akwa Ibom State, His Excellency, Pastor Umo Bassey Eno for his efforts in revitalizing Primary Health Centres in the state and the progress made in fulfilling his promise to deliver health insurance to Akwa Ibom people by setting up the State Health Insurance Agency”

According to the communique, the PSN recommended the utilization of unique skill sets of Pharmacists in Health financing and the involvement of community Pharmacies in the drive towards universal health coverage in the State.

It decried the existence of a master- servant relationship in our Hospitals and the healthcare sector at large, where the leadership was ceded to only a certain category of health professionals.

” It is only a team work approach to healthcare delivery, where every health professional with requisite training in Hospital or Health administration can have opportunity to superintend over our Hospitals, that would drive optimal health outcomes.

The communique drafting committee had Pharm. Mfonobong Enobong Okon as Chairman and Pharm. Omoefe Igri, Pharm Ifiok Udoubak; Pharm Odudu Akpaete, Pharm faith Robinson and Pharm.Itoro Obong as members

The Lagos State government has issued a seven-day ‘vacation order’ to all motorists and commercial bus drivers operating on some bridges across the state.

The Special Adviser to the state governor on Transportation Sola Giwa issued the order, Adebayo Taofiq, LASTMA spokesperson said in a statement on Monday.

The order takes effect from Monday, 16 October.

“Every motorist/commercial bus driver operating along ‘Apongbon’ and ‘Idumota’ (Cater) Bridges, ‘Elegbata:, ‘Ebute-Ero’ and ‘Ejalonibu’ must as a matter of urgency vacate these areas as LASTMA would commence strict enforcement operation immediately after the expiration of this ultimatum until zero tolerance is achieved across the state,” Mr Giwa said.

The order is based on the need to “remove every infraction impeding the free flow of traffic on bridges across the state.

Mr Giwa said that despite several warnings, Lagos motorists have continued to defy government order thereby causing serious obstructions around these bridges with great negative impacts on the integrity of the bridges and traffic.

He said the present administration is expending huge resources for the construction of standard bus terminals, and garages for commercial activities in every part of the state.

He further said the activities of these motorists on the bridges are contrary to provisions of the Lagos State Transport Sector Reform Law 2018 as amended.

The special adviser noted that after the expiration of the ultimatum, any vehicle found to have contravened the order would be immediately charged to the state’s mobile court for prosecution

Gunmen suspected to be Fulani herdsmen on Thursday, attacked a Benue Links bus conveying passengers to Otukpo en route Naka road Gwer West LGA at Tyolaha village.

One passenger was killed and several others were injured during the attack by the marauders.

LEADING REPORTERS gathered that the latest attack is not the first time marauding herdsmen had carried out such gruesome attacks on passengers along the dilapidated road.

Tyolaha village has been a hotspot for persistent attacks by suspected Fulani Herdsmen.

The herdsmen who were almost 15 in number thwarted any resistance by their victims which caused them to disperse on an escape with ease.

This incessant attacks have caused most residents to flee and farmers to relocate from the that part of the road while the remnants call on the government and security operatives for protection.

Benue Police Public Relations Officer, Anekwe Catherine, who confirmed the incident said “a bus belonging to Benue Links which was heading to Otukpo was attacked by unknown gunmen and three persons including women were wounded and one person died this morning.”

Music executive, Kenny Ogungbe, completed the mandatory National Youth Service Corps programme at 53.

Ogungbe, who is famous for shaping the Nigerian music scene through his Kennis Music label in the early 2000s, posted pictures from his Passing Out Parade on Thursday.

He captioned the photos on his Instagram page, “NYSC graduation/POP today. Lagos/12C graduation day. To God be the glory.”

The one-year mandatory service for the Batch C stream was concluded on Thursday, October 12.

Some Christian leaders on the platform of National Solemn Assembly (NaSA) have declared 40 days of “intense” fasting for President Bola Tinubu, Vice President Kashim Shettima and the nation.

The clerics disclosed this at the National Ecumenical Centre, Abuja, during the inauguration of committees and flag off of the national orientation and mobilisation for ‘A day of Praise Worship and Thanksgiving to God for Nigeria’ slated for December across the country.

Chairman of the committee, Archbishop Leonard Kawas, urged all Nigerians, especially Christians, to actively participate in the 40-day fast and prayers for Nigeria and its leaders.

According to him, the fast would commence on October 20, 2023 and end on November 30, 2023, a day before the Solemn Assembly.

Kawas also said that their initial fear over the Muslim-Muslim ticket of President Tinubu and Shettima has been allayed.

They said their fear was predicated on the possibility of religious subjugation and oppression of Christians in the country.

Prof. Anthony Bature, who is also the national president of the Catholic Charismatic Renewal of Nigeria, said that President Tinubu should be commended for disappointing many who thought that a Muslim/Muslim ticket would set the country on a path of chaos, by ensuring a balance in the appointment of both Christians and Muslims into political offices.

“One of the things that created tension during the last electioneering period was the fact that many Christians in Nigeria were so scared of the idea of a Muslim/Muslim ticket. It brought a lot of fear but as God will have it, that fear has been removed from us. The president and his vice have demonstrated nothing but balance in the kind of political appointments that they have made.

“We have seen that nobody can cry of marginalisation because Muslims have gotten their fair share and Christians have also gotten theirs too. So this is one of the reasons why we must thank God because some people thought a Muslim/Muslim ticket will Islamise Nigeria,” Bature said.

President Bola Tinubu has approved the appointment of new Chief Executive Officers of several agencies and parastatals under the Federal Ministry of Industry, Trade and Investment, in line with his resolve to base Nigeria’s economic revival on the foundation of trade expansion through small, medium and large scale industry facilitation in the country:

Corporate Affairs Commission (CAC) — Hussaini Ishaq Magaji, SAN

Industrial Training Fund (ITF) — Afiz Ogun Oluwatoyin

National Sugar Development Council (NSDC) — Kamar Bakrin

Nigeria Export Processing Zone Authority (NEPZA) — Olufemi Ogunyemi

Nigeria Export Promotion Council (NEPC) — Nonye Ayeni

Nigeria Investment Promotion Commission (NIPC) — Aisha Rimi

Oil & Gas Free Zone Authority (OGFZA) — Bamanga Usman Jada

Small & Medium Enterprises Development Agency of Nigeria (SMEDAN) — Charles Odii

Standards Organisation of Nigeria (SON) — Ifeanyi Chukwunonso Okeke

Financial Reporting Council of Nigeria (FRCN) — Rabiu Olowo

Nigeria Commodities Exchange (NCE) — Anthony Atuche, CFA

Lagos International Trade Fair Complex (LITFCMB) — Veronica Safiya Ndanusa

Tafawa Balewa Square Management Board (TBSMB) — Lucia Shittu

National Automotive Design and Development Council (NADDC) — Oluwemimo Joseph Osanipin

In view of the Renewed Hope Agenda of his administration, President Bola Tinubu expects all new appointees in this critical sector to optimally deliver in accordance with new key performance indicating benchmarks as established by the Federal Ministry of Industry, Trade and Investment.

By this directive of the President, all of the above listed appointments take immediate effect.

Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)

Former minister, Senator Bello Maitama Yusuf, has died aged 76.

Yusuf, a former Senator from 1999-2007, died in the early hours of Friday at his residence in Kano after a brief illness.

A family member, Alhaji Hussani Dalhatu, confirmed his death to newsmen.

He said the late Sardauna of Dutse’s funeral prayer would take place after Jumu’at prayer at the Emir of Kano’s palace.

Yusuf was born in Gwaram, Jigawa State, in 1947. He was Minister of Interior in 1981 and Minister of Commerce in 1982

The deceased and two other persons were said to be working in the building on Wednesday evening when it collapsed on them.

A storey building under construction in Ikirun, the headquarters of Ifelodun Local Government Area of Osun State has collapsed, killing two persons.

The deceased and two other persons were said to be working in the building on Wednesday evening when it collapsed on them.

A resident of the area, who identified himself as Lateef revealed that the owner of the building was among the victims that died while on admission at a nearby hospital.

He narrated, “Some minutes to 7 pm on Wednesday, we heard a loud noise from a construction site in our area and immediately, people rushed to the scene.”

According to him, when neighbours got to the scene, they evacuated four people from the rubble, three females and a male.

He further disclosed that some good samaritans rushed the victims to a hospital nearby. However, on Thursday morning, two of the victims died as a result of serious injuries sustained from the incident.

The Public Relations Officer of the Osun State Command of the Nigeria Security and Civil Defence Corps(NSCDC), Kehinde Adeleke, confirmed the incident.

The NSCDC spokesperson added that though the building was still under construction, it was already used as a church.

She said, “A storey building being used as a church collapsed on Wednesday around 6.45 pm. The church building is in the Eweta community in Ikirun.

Adeleke stated, “Our officers that visited the scene said the affected building was still under construction and some workers were working inside it when it collapsed.

“Four people were trapped under the rubble. They were later evacuated and taken to a nearby hospital. Three women and a man were evacuated.”

She revealed that as of Thursday, two of the victims, including the woman who owned the building had died.

An oil tanker fully loaded with Premium Motor Spirit (PMS) otherwise known as petrol has crashed into a truck and damaged several vehicles and other public utilities worth millions of naira in Lagos, Nigeria’s commercial capital.

The incident occurred around House 229, Moshood Abiola Way, opposite Fashola Estate, Lagos State at about 7:30 pm on Thursday.

The National Emergency Management Agency (NEMA) Acting Coordinator, Lagos Territorial Office, Ibrahim Farinloye, who confirmed the incident, said the incident occurred at 7:30 pm at Palex bus stop by Iganmu Bridge, Ijora.

Farinloye listed vehicles damaged to include “two buses, two cars, a trailer loaded with sardines and detergent, one SUV, three flat body trailer, two twenty feet containers and two PMS tankers”.

Also, according to him, 12 high-tension electric poles were destroyed in the incident.

He said that all the occupants of the vehicles involved were able to flee before the product caught fire.

“There was no injury or casualty in the incident,” he said.

Farinloye said the carcasses of the burnt vehicles were being evacuated by the Lagos State Emergency Management Agency (LASEMA) officials.

Meanwhile, residents of Moshood Abiola Way through Sifax down to Ijora Underbridge to Apapa have been advised to suspend the use of naked fire for the time being.

In a public announcement titled “Urgent Public Safety Measure,” it was noted that in the process of evacuating the tankers, the product spilt into the drainages and moved towards communities.

“At the same time, no one is advised to use the streams and tributaries of any rivers for washing or bathing.

“The Fire Services are presently carrying blanketing to make the product ineffective. Utmost cautions are highly advised please,” the announcement read.

Nigeria’s pension fund landscape is witnessing a robust investment strategy as Pension Fund Administrators (PFAs) diligently allocate pension fund assets to Federal Government bonds and other eligible securities.

This approach adheres to the guiding principles of pension fund investments set forth by the Pension Reform Act 2014 (PRA 2014). As of August 31, 2023, Nigeria’s total pension assets under management amounted to an impressive N17.29 trillion

Pension fund assets in Nigeria are managed by licensed PFAs and safeguarded by Pension Fund Custodians (PFCs) in line with the provisions of the PRA 2014.

The primary guiding principle of investing pension funds is to ensure safety and maintenance of fair returns, with a prohibition on borrowing or lending pension fund assets.

The allowable instruments for investing pension funds, as outlined by the PRA 2014, include bonds, Sukuk, Treasury Bills, and other securities issued by the Federal Government of Nigeria and the Central Bank of Nigeria (CBN), or their respective agencies.

Additionally, Special Purpose Vehicles and Companies created or owned by the Federal Government of Nigeria are eligible, provided these securities are guaranteed by the CBN or the Federal Government.

Other allowable instruments for investment of pension funds include State Government Securities, Corporate Bonds, Money Market Instruments, Equities, Real Estate Investment Trusts (REITs), Infrastructure Bonds, Private Equity and Venture Capital as well as Open-End and Closed-End Funds.

At the end of August 2023, Nigeria’s pension assets increased by N530.79 billion (3.17%) from June 2023. Out of the net pension asset of N17.29 trillion, N11.47 trillion is invested in Federal Government Securities. This comprises N10.99 trillion in Federal Government Bonds, N211.77 billion in Federal Government Treasury Bills, N11.02 billion in Agency Bonds (Nigeria Mortgage Refinance Company), N154.76 billion in Sukuk Bonds, and N98.55 billion in Green Bonds.
The remaining investments are in money market instruments, corporate debt securities, quoted equities and other asset classes.

In line with global best practice, Federal Government Securities are considered safe and are usually a significant portion of pension fund investments. In Nigeria, Federal Government Bonds are considered the safest investment in the domestic debt market due to their backing by the ‘full faith and credit’ of the Federal Government. They are deemed risk-free, ensuring certainty in interest and principal payments.

Furthermore, the interest income earned from these bonds is tax exempt. Since the establishment of the Contributory Pension Scheme (CPS), the Federal Government has consistently met its obligation to repay pension funds invested in its bonds along with all accrued interests, without any defaults.

It is important to clarify that investments in Federal Government securities are not direct loans to the government; PFAs have the liberty to divest from these securities according to the Regulation on Investment of Pension Fund Assets. It is significant to note that investments in Federal Government bonds are not exclusive to PFAs as other institutional investors also invest in the bonds.

The PRA 2014 underscores that PFAs must manage pension funds in the best interest of retirement savings account holders. All investments in eligible securities and corporate entities are ‘ring-fenced,’ meaning they belong exclusively to the RSA holders and other pension beneficiaries and cannot be appropriated to any individual or related party of the PFA.

To ensure compliance with the PRA 2014, each PFA is required to establish an Investment Strategy Committee and a Risk Management Committee. These committees play a crucial role in formulating internal investment strategies and assessing acceptable risk profiles for investment portfolios, respectively. They are vital components of a comprehensive risk management system that ensures the safety and stability of pension fund investments.

It is noteworthy that pension funds invested in Federal Government bonds have aided in deepening the Nigeria’s financial sector and provided a platform for attaining strategic programmes of Government in the areas of infrastructure and real sector of the economy. It is evident from the vibrant pension industry in Nigeria today that the objectives of the pension reform have been significantly achieved in the areas of accumulation of long-term savings for Nigeria, as well as transparency and efficiency in funds management and benefits administration.

Generally, pension funds around the world invest in a diverse range of assets. In Chile, from where Nigeria adopted the CPS, Government bonds account for the highest investments using pension funds.

Similarly, Pension asset managers in many countries prioritise investments in defensive assets, including fixed interest securities such as bonds and treasury bills. These assets offer stable income at a lower risk level, which suit the moderate risk appetite of pension funds. Consistent with the investment culture in Nigeria’s pension landscape, countries such as Singapore, Korea and India have invested 90% of their pension funds in defensive assets, mostly Government bonds. Asset allocation decisions are made to achieve safety and fair returns.

In summary, the strategic investment of pension funds in Federal Government securities demonstrates a prudent approach by PFAs, aligning with the overarching goal of ensuring the safety and fair returns for the retirement savings account holders and other pension beneficiaries