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2023 Presidency: 95m voters to determine next president – INEC

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The Independent National Electoral Commission (INEC) has said that ninety-five million voters are expected to determine President Muhammadu Buhari’s successor in office in the 2023 poll.

INEC Chairman, Mahmood Yakubu, disclosed this at a function organised by the National Endowment for Democracy (NED) and the International Foundation for Electoral Systems (IFES) in Washington DC, U.S.

Yakubu said this in a keynote address titled “Nigeria 2023: Ensuring credible, peaceful and inclusive elections”.

He described the 2023 general elections as significant to Nigeria.

“The election is significant because the incumbent president is not eligible to run, this being his second and final term.

“There are 18 political parties in the race to produce the next president to be elected by 95 million voters. We had over 84 million registered voters in 2019.

“But with last Continuous Voter Registration (CVR), we are going to add at least 10 million Nigerians and that will take the Register of Voters to 95 million,” Mr Yakubu said.

He said the election was significant as 95 million Nigerians were expected to vote in 176, 846 polling units.

“Each time Nigeria goes to the poll, it is like the whole of West Africa voting.

“In West Africa, there are 15 countries including Nigeria. But the total number of registered voters in the 14 countries combined is 73 million.

“In Nigeria, it’s going to be 95 million. So, there will be 22 million more voters in Nigeria than the whole of West Africa put together,” Mr Yakubu said.

The chairman said that INEC has learnt a lot of lessons from the 2015 and 2019 general elections as well as 103 off-cycle elections and bye-elections conducted after the 2019 general elections.

He added that a lot of innovations have been introduced to increase transparency and ensure the credibility of the country’s electoral process.

“The new Electoral Act with its many progressive provisions has provided legal backing to the innovations.

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“These innovations are now provided for and protected by law, especially those leveraging on technology to improve voter registration, voter accreditation, result management and the promotion of inclusivity for marginalised persons such as women, youths and persons with disability,” he said.

The INEC chairman said the introduction of online voter registration was part of the innovations, saying it was very helpful during the COVID-19 pandemic.

He said the online registration was done alongside physical registration from June 2021 to June 2022 when that option lasted and 12, 298, 944 voters completed their registration.

“This is more than the entire voter population in the Republic of Gambia, Guinea-Bissau, Liberia, Sierra Leone and Cape Verde. We are such a huge country of great potential,” he said.

Yakubu said that INEC has completed the cleaning up of the data of newly registered voters using the Automated Biometric Identification System (ABIS) that combine the fingerprint and facial authentication of registered voters.

He said those who registered twice and those who were underage or have no reason to register as provided by law have been weeded out.

“The exercise was completed a few days ago. We have not even shared the information with Nigerians, but we have 2.7 million invalid registrants and they have been weeded out.

“We will continue to take steps necessary to protect the integrity of the Register of Voters because it is fundamental to the conduct of elections. There can’t be credible elections without a credible register of voters,” he said.

Yakubu said that Permanent Voters’ Cards (PVC) would be available for new registrants by November.

“We are looking at early to the middle of the month to make the cards available.

“We have already printed over 50 per cent of the cards but we haven’t delivered them to the states yet.

“As we clean the data, we also print the cards. Nigerians who have registered should be rest assured that they will have their cards ahead of the general election.

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“We also need to do so in good time because the law now requires us to publish the number of cards collected per polling unit,” he said.

Mr Yakubu added that INEC also introduced other portals for things like accreditation of observers, media organisations, nomination of candidates by political parties and nomination of polling agents by parties.

According to him, the innovations have also been helpful in reducing the level of litigation arising from the conduct of political parties.

“This is because now it’s an interaction between the party agents and the machines and anytime you logged in and out, there is a time stamp, so you can’t argue.

“If you argue, we’ll produce the evidence of what happened. And at 6 p.m. on a fixed date, the portal automatically shuts down. If any party has any problem, it’s not the Commission,” he said.

On BVAS innovation, Yakubu said the use of the technology in Nigeria’s electoral system has come to stay and there was no going back.

Voters on queue waiting to vote

He said the technology had helped to eliminate multiple accreditations that were observed in previous elections, increased public confidence in the outcome of elections and eliminated the use of the Incident Form.

“Another innovation that we introduced is the INEC Result Viewing (IReV) portal. We are perhaps one of the few countries in the world that transmits polling unit-level results in real time on election day.

“Proudly, I can say we are the first to introduce it in Africa,” he said.

Yakubu said that IReV has increased transparency in result management and helped to eliminate the falsification of results from the polling unit level to the collation centres.

“We have deployed the IReV in 105 off-cycle and bye-elections.

“We believe that the system is robust and we are taking additional measures to safeguard and fortify our web resources generally against threats of attack,” he said.

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On inclusivity, Yakubu said INEC has created a new Department for Gender and Inclusivity in the commission.

He added that within the limits of available resources, INEC has also provided assistive devices for Persons with Disabilities, such as a braille ballot guide and magnifying glasses for the visually impaired and those living with Albinism.

Yakubu said going into the 2023 general election, the first concern was the insecurity in different parts of the country, compounded by thuggery during elections organised by some of the political actors.

“Elections are conducted by human beings. We worry about the security of our officials, voters and the materials to be deployed.

“Without them, we cannot conduct elections. We have spoken to the security agencies; they have assured us that the situation will improve before the elections. So, fingers crossed.

“Those who are supposed to secure the environment have assured us that they will secure the environment for us to conduct elections. Our responsibility is to conduct elections,” he said.

He added that INEC was concerned about the issue of fake news, but as a commission did not support censorship, saying that it was deepening transparency and harmonising available opportunities to address fake news which has an impact on elections.

“We believe that the antidote to fake news is greater transparency and openness and we have been demonstrating greater transparency and openness.

“The social media plays a very important role in voter education and deepening democracy.

“But it also has the potential of skewing the narrative with the wrong information that impugns the integrity of officials or seeks to delegitimise the commission and the process before, during or after the elections.

“Publication of fake election results is a potential trigger for violence. What we have done is to continue to deepen our cooperation and relationship, particularly with the organised social media,” Mr Yakubu said.

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Fitch upgrades Nigeria’s credit outlook to positive, cites economic reforms

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Fitch, a global rating agency, has reviewed Nigeria’s outlook to positive from stable.

A credit rating is a measure of how likely a company or government entity can pay back its debts, based on an independent assessment of its financial health.

Fitch, in a statement on May 3, said the positive outlook partly reflects reforms implemented over the past year to support the restoration of macroeconomic stability and enhance policy coherence and credibility.

 

“Exchange rate and monetary policy frameworks have been adjusted, fuel subsidies reduced, coordination between the ministry of finance and the Central Bank of Nigeria (CBN) improved, central bank financing of the government scaled back and administrative efficiency measures are being taken to raise the currently low government revenue, as well as oil production,” Fitch said.

 

Fitch said the reforms have lessened distortions stemming from previous “unconventional monetary and exchange rate policies,” leading to the return of sizeable inflows to the official foreign exchange (FX) market.

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“Nevertheless, we see significant short-term challenges, notably, inflation is high and the FX market has yet to stabilise, and the durability of the commitment to reform is to be tested,” the credit agency said.

“The CBN has stepped up efforts to reform the monetary and exchange rate framework following last year’s unification of the multiple exchange rate windows, and the large differential between the official and parallel market rates has collapsed.

 

“Average daily FX turnover at the official FX window has risen sharply from 2H23, and there has been clearance of USD4.5 billion of the backlog of unpaid FX forwards (the validity of the outstanding USD2.2 billion is being assessed by CBN), and weekly sales of FC to bureaux de changes (BDCs) have resumed (having been suspended since 2021).”

‘RETURN OF SIZEABLE NON-RESIDENT INFLOWS’

Fitch said increased formalisation of FX activity and monetary policy tightening has contributed to a notable rise in foreign portfolio investment inflows and a fast appreciation of the naira at the official FX window.

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According to the company, this followed the 71 percent “post-liberalisation depreciation between June 2023 and mid-March 2024”.

 

However, the credit rating agency said the exchange rate remains volatile.

Fitch said the continued lack of clarity on the size of net FX reserves is a constraint on Nigeria’s sovereign’s credit profile.

‘FURTHER MONETARY POLICY TIGHTENING ANTICIPATED’

In March, the Central Bank of Nigeria (CBN) raised the monetary policy rate (MPR), which benchmarks interest rates, from 22.75 percent to 24.75 percent.

 

Fitch said it expects further increases in the CBN monetary policy rate in the second half of 2024 and “strengthening of monetary policy transmission, after the recent resumption of open market operations at rates closely aligned to the MPR”.

“We project inflation, which rose to 33.2% yoy in March due partly to exchange rate pass-through and rising food prices, to average 26.3% in 2024 and 18.2% in 2025, still well above our projected ‘B’ median of 4.5%,” Fitch said.

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In December 2023, Moody’s, a US-based rating agency, also revised its outlook for Nigeria from stable to positive.

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Good Morning! Here Are Some Major News Headlines In The Newspapers Today: Yahaya Bello: Appeal Court stays execution of contempt proceedings against EFCC chair

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1. The Court of Appeal, Abuja Division, on Friday, suspended moves by the Kogi State High Court to commit the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede for contempt. The Appeal Court granted an ex parte motion for stay of proceedings of contempt application filed against the EFCC Chairman by the immediate past governor of Kogi State, Yahaya Bello.

2. An Ikeja Special Offences Court has adjourned the trial of the embattled former Central Bank of Nigeria, CBN, governor, Godwin Emefiele, to May 9 over filing of additional proof of evidence served by the prosecution. Justice Rahman Oshodi adjourned the trial after taking arguments from the defendants’ counsel over additional proof of evidence of over 60 pages served on them in the morning by the prosecution.

 

3. Efforts for better efficiency in the electric sector received a boost on Friday as the Nigerian Electricity Regulatory Commission, NERC, announced the unbundling of the Transmission Company of Nigeria, TCN, with the establishment of the Nigerian Independent System Operator of Nigeria Limited, NISO.

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4. The Minister of Information and National Orientation, Mohammed Idris has said that no journalist has been incarcerated under the Bola Tinubu administration for practicing responsible journalism, stressing that the media is largely free in Nigeria. He assured that the federal government would continue to protect the interests of journalists and will not compromise press freedom.

5. A Kano High Court has granted an ex parte order restraining the Inspector General of Police, IGP; Assistant Inspector General of Police, AIG Zone 1 Kano; Commissioner of Police, Kano, from arresting, and harassing the All Progressives Congress, APC, Ward officers at Abdullahi Ganduje Ward, Dawakin-Tofa local government area of Kano State.

 

6. The Benue State government has demolished 40 illegal shanties and structures in different locations in Makurdi, the state capital. The General Manager of the Benue State Urban Development Board, UDB, Tarnongo Mede, who led his team yesterday to carry out the demolition exercise, said it came as a result of shanties springing up in some parts of the state.

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7. Nigerian fintech companies have warned their customers against trading in cryptocurrency or any virtual currency on their apps, threatening to block any account found engaging in such activities. At least four fintechs— Opay, Moniepoint, PalmPay, and Paga communicated this development to their customers on Friday.

 

8. A man, Hamza Mohammed, has been sentenced to death by hanging for stabbing another man to death during a free-for-all in Niger State. Mohammed and one Baba Usman (now at large) were said to have chased after the deceased, Isah Mohammed, caught up with him and stabbed him several times until he died.

 

9. Ahead of the September 21 gubernatorial election in Edo State, the state chapter of the Peoples Democratic Party (PDP), on Friday, inaugurated a 363-member campaign council, with Governor Goodwin Obaseki describing the Legacy Group as disorganised. The Legacy group, headed by the party’s vice chairman, South-South, Dan Orbih, had vowed not to work with Obaseki and the party’s candidate, Asue Ighodalo, unless their grievances were looked into.

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10. The naira depreciated yesterday to N1,395 per dollar in the parallel market from N1,365 per dollar on Thursday. However, the naira appreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,400.4 per dollar.

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Court restrains NERC from implementing tariff hike for Band A customers

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A federal high court in Kano has issued an order restraining the National Electricity Regulatory Commission (NERC) and the Kano Electricity Distribution Company (KEDCO) from implementing the new electricity tariff for Band A consumers.

Ruling on an ex parte motion on Thursday, Abdullahi Liman, presiding judge, made an interim order restraining NERC and KEDCO from going ahead with the impending tariff pending the hearing and determination of the motion on notice before it.

The order also restrained the defendant from intimidating and threatening to disconnect the applicants’ electricity supply for non-acceptance of the new increased tariff.

 

The suit marked FHC/KN/CS/144/2024 was filed by Super Sack Company Limited and BBY Sacks Limited.

 

Others are Mama Sannu Industries Limited, Dala Foods Nigeria Limited, Tofa Textile Limited and Manufacturers Association of Nigeria Limited (MAN).

The motion ex-parte was moved by Abubakar Mahmoud, counsel to the plaintiffs.

 

On April 3, NERC approved an increase in electricity tariff for customers under the Band A classification.

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The commission said customers under the category, who receive 20 hours of electricity supply daily, would begin to pay N225 per kilowatt (kW) from April 3 — up from N66.

The sudden hike has been criticised by the house of representatives and other stakeholders who have asked NERC to suspend the implementation of the new tariff.

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