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Rise and rise of Abdulrasaq Isa Kutepa’s Waltersmith Petroman

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Abdlrasaq Isa Kutepa

By Tunde Olusunle

Nigeria’s popular and highly regarded Thisday newspapers did its typical annual summation of remarkable individuals and corporate entities who and which impacted the broad esplanade of the nation’s multispectral space, last year. The front page of the Monday December 25, 2023, which was the Christmas day edition of the publication featured portraits of some of those the newspaper described as “Movers and Shakers” of the receding year. It was a potpourri of impactful contenders for the highest political offices in the land, as well as state governors who were deemed to have offered good governance to their constituents. High-flying business leaders and standout bankers who were variously considered to have etched footprints on the sands of the year, equally made the honours roll.

While the front page of the newspaper under review could understandably not accommodate the faces of all those who were adjudged to have excelled in their various departments, the inside pages were more encompassing. “Usual suspects” like the pluri-faceted businessman, entrepreneur and industrialist Aliko Dangote and his “running mate” Abdul Samad Isyaku Rabiu who is breaking grounds in agriculture, infrastructure and manufacturing, had their faces featured on the front page of that newspaper. So was the visage of “Lagos boy” Femi Otedola, a precursor in the power and banking sectors, who is also famous for his philanthropic activities. Mele Kyari, Group Executive Officer of the Nigerian National Petroleum Company Ltd, also featured on the cover of the publication.

Abdulrasaq Isa Kutepa may not have been emblazoned on the outer pages of the tabloid under reference. He features very prominently, nonetheless, in the section devoted to the interrogation of “movers and shakers” of national socioeconomic space. Indeed a few days before the mention in *Thisday,* I had authored an essay titled “As Torrents Of Trophies Pour for Isa Kutepa” which received generous media ventilation. Kutepa is the Chairman and Co-Founder of Waltersmith Group of Companies. Waltersmith Petroman Oil Limited, one of the subsidiaries under the umbrella organisation is prosecuting a silent revolution in the nation’s oil sector. The piece published in the Saturday December 23, 2023 edition of Thisday, drew attention to the unmistakable ascent of the Kutepa/Waltersmith brand in Nigeria’s business and investment firmament.

From its *Ibigwe* field in Imo State, Waltersmith Petroman operates a modular refinery which was commissioned in 2020, by Muhammadu Buhari, Nigeria’s former President. The refinery aims to produce diesel, naphtha, heavy fuel oil, (HFO), and kerosene. Refined petroleum products from Petroman’s modular complex is targeted primarily for states in the south east zone. Anambra, Enugu, Abia, Imo and Ebonyi states therefore, are the primary beneficiaries of the Petroman, 5000 barrels per day modular refinery. Efforts are afoot to upscale the capacity of the refinery to one with a processing capacity of 40,000 barrels per day. This upgraded capacity will be fed from the Assa marginal field acquired in 2021.

More lately, Waltersmith Petroman has featured very prominently on the list of a quintuple of investors who aspire to procure the Shell Petroleum Development Company of Nigeria, (SPDC), from the British energy giant, Shell. The foremost global brand desires to withdraw from onshore oil production in the Niger Delta region after nearly 100 years of oil and gas operations in Nigeria. Renaissance Consortium a muscular agglomeration comprising: ND Western, Aradel Energy, First E & P and Waltersmith, all prominent local oil exploration and production entities, in collaboration with Petrolin, a Swiss-based trading and investment company, nicked the deal.

The very fact that Kutepa’s organisation is having a bite of a $2.4Billion SPDC transaction speaks to the rapid ascent of Petroman in the nation’s oil and gas sector. An initial $1.3Billion will be raised by the consortium of buyers and paid to SPDC. At the consummation of the deal, $1.1Billion will be remitted to SPDC as balance and final payment. Waltersmith Petroman and its collaborators have made good progress in their recent collegial bid for the SPDC onshore assets, after efforts by a number of Nigerian-based energies failed. For the assurance of doubts, Sahara Group, Seplat Energies, Famfa Oil, Niger Delta Exploration and Production, as well as Triolus Investments Ltd, previously took shots at the acquisition of SPDC. Heirs Oil and Gas, as well as ND Western equally bidded for SPDC.

Beyond accentuating its activities in the Nigerian oil and gas sector, Waltersmith Petroman has been making international incursions. In 2019 for example, the organisation acquired an oil block in Equatorial Guinea’s Niger Delta basin, known as Block EG-23. Waltersmith Petroman Oil Limited and Hawtai Energy Hong-Kong were granted a 40% participating interest each in the oil block while Equatorial Guinea’s national oil company, GE Petrol, was granted 20%. The octogenarian Teodoro Obiang Mbasogo Nguema has exercised a vice grip on the central African country for 44 years and still counting. The former Spanish colony with a population of less than two million people struck oil in 1995. The country’s Minister for Mines and Hydrocarbons, Gabriel Mbega Obiang Lima noted at the signing ceremony that the EG-23 Block was very strategic to the country’s economy. He noted that Equatorial Guinea had just signed a Memorandum of Understanding, (MOU), for its Liquefied Natural Gas, (LNG) train.

The gas reserves from the block Obiang Nguema noted will be needed for gas supply to the LNG. He applauded the proven competence and experience of Waltersmith Petroman, despite being a brother African country. The reputation of the Nigerian outfit had long preceded the eventual consummation of the deal, the Minister noted. Kutepa assured on that occasion that Waltersmith will draw from its experiences in its operations in deltas and riverine areas of Nigeria in fast tracking operations on “Block EG-23.” He pledged that the operations of Waltersmith in the region will indeed boost the economy of the country by helping to extend value creation down the line.

Founded in 1998, fully operationalised in 2008, Waltersmith Petroman has blossomed into a formidable player in Nigeria’s business firmament through the years. Kutepa’s dream across time has been to grow Waltersmith into a diversified Nigerian conglomerate which he continues to pursue. The walls and shelves of the corporate headquarters of the organisation beam with commemorative plaques and mementos presented to it for its innovations in the oil and gas sector. In 2020, Waltersmith Petroman won the “Refinery Project of the Year” as well as the “Future Industry Leader” awards. In the following year, it won the “Nigerian Oil and Gas Indigenous Company of the Year” award, among several honours.

Kutepa himself has chaired the “Independent Petroleum Producers Group of Nigeria,” (IPPG), established in 2015, by indigenous exploration and production companies. Its principal focus is to help the maximisation of the contributions of the domestic oil and gas industry to the development of the country’s socioeconomy. Central to Kutepa’s corporate governance ethos and success is the ultra-strict adherence to global best practices. Things must be done rightly, transparently and methodically in conformity with laid down rules and procedures. Kutepa accepts nothing short of these minimums. The 360° transmutation of this man who graduated with an honours degree in sociology over four decades ago but who is today a big player in the corporate world, should command studies and exegesis by research enthusiasts.

Tunde Olusunle, PhD, poet, journalist, scholar and author is a Fellow of the Association of Nigerian Authors, (FANA)

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Opinion

Independence: Blacks Perceive Whites as Immortal

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By Adamu Muhd Usman

The British colonial rule in Nigeria was marked by significant injustices against our ancestors. They coerced our forefathers into joining the army to fight for Britain during times of conflict. This exploitation left deep scars, as our people were compelled to build lavish homes for the British and pay taxes that ultimately benefited their colonizers.

After World War I in 1918, black men began to shed their fear of white men. Prior to the war, many believed that white men were invincible, almost like spirits who could not die. However, witnessing the deaths of white soldiers during the war shattered this illusion and led to a newfound sense of defiance among black men.

When World War II erupted in 1939, Nigerian soldiers once again fought on the British side. As the war progressed, more black men came to realize that they were equal to their white counterparts, prompting calls for independence from British rule. Numerous attempts were made to secure this freedom.

Finally, in May 1957, a meeting was convened in London to discuss Nigeria’s constitution—the document outlining the laws of the nation. Following this meeting, Sir Abubakar Tafawa Balewa was appointed as the leader of the new Nigeria, becoming the first Prime Minister of the Federal Republic of Nigeria. On October 1, 1960, Nigeria achieved independence, which is why we celebrate this day each year.

May God continue to help, protect, and unite Nigeria and guide our leaders toward a brighter future. Amen.

Adamu writes from Kafin-Hausa, Jigawa State.

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Opinion

Who is After Dr. Mohammed Sanusi?

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Dr. Mohammed Sanusi

**Let’s Put Sentiment Aside – He’s Still the Best for the Job

By Ben Ogbemudia

Two years ago, Dr. Mohammed Sanusi, the General Secretary of the Nigeria Football Federation (NFF), was elected as the 1st Vice President of the National Association of Physical and Health Education, Sports, and Dance (NAPHERSD) during the association’s congress held at Ahmadu Bello University, Zaria. To this day, Sanusi continues to serve as a visiting lecturer at this prestigious institution.

He holds traditional titles such as Danmasani Wajeke of Wammako district in Sokoto State and Dan-Buran of Gwandu Emirate in Kebbi State. Sanusi has also served multiple terms as President of the National Colleges of Education Games.

A qualified coach, Sanusi was responsible for accommodation and logistics during the 8th All-Africa Games, hosted by Nigeria in 2003, before becoming the Director of Competitions at the NFF. He assumed the role of General Secretary of the NFF in March 2015.

It’s important to emphasize that professionalism should never be sacrificed for sentiment, as this won’t help Nigerian football progress. The key question we should be asking is: Does Dr. Mohammed Sanusi have the necessary qualifications, experience, and leadership qualities to serve as the Secretary General of the NFF? Based on his track record, the answer is clear.

Sanusi’s nationality is irrelevant to his professional capabilities. If he was born in Kebbi State and now claims ties to Ogbomosho, Oyo State, is there anything wrong with that? Let’s not forget figures like Dr. Amos Adamu, who have similarly served with distinction.

Critics need to be specific when questioning Dr. Sanusi’s leadership and how it may have hindered the progress of the NFF. What areas are being affected? Is this truly about competence, or are some attempting to undermine him due to ethnicity? We cannot afford to engage in this “pull him down” syndrome if we want to move forward as a country. Haba! Let’s focus on progress, not unnecessary division.

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Edo 2024: Finally, Edo people have spoken with their PVCs

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By Ehichioya Ezomon

As you read this copy, the results, and the winner of Saturday, September 21, 2024, governorship election in Edo State is known – and declared as such by the Independent National Electoral Commission (INEC) – in one of the most contentious campaigns that put the electoral umpire in the eyes of the voting and non-voting publics in Edo, the entire Nigeria and the global community.
I crave your indulgence to describe the INEC announcement on Sunday evening, September 22, 2024, as both “BREAKING” and “OFFICIAL” declaring the candidate of the main opposition All Progressives Congress (APC), Senator Monday Okpebholo, as winner of the poll, and returning him as the “Governor-Elect” of Edo State.
Okpebholo (APC, Edo Central) won the fiercely-contested balloting in a landslide in 11 local government areas (LGAs), and scored 291,667 votes, to defeat the candidate of the ruling Peoples Democratic Party (PDP) in the state, Dr Asue Ighodalo, who won in 7 LGAs, and polled 247,274 votes to place second.
The declaration of Okpebholo as Governor-Elect and his running mate, Hon. Dennis Idahosa (APC, Ovia Federal Constituency), as Deputy Governor-Elect, comes as a test for INEC on the back of calls by PDP governors – led by Adamawa State Governor Umar Fintiri – for the commission to postpone the announcement for a review of reported rigging of the election by the APC.
However, the only reason INEC can’t declare a winner is if the election is inconclusive by virtue of none of the parties meeting the legal requirements for a decisive win, or the process was flawed such that the electoral umpire needs to review the outcome before taking a definitive action within seven days allowed by the laws, regulations and guidelines to so do.
Indeed, there appeared to be a “k-leg” (a problem) with the poll results that were bandied on social media – even when actual results were yet to be announced in many polling units, and collation done at the ward level – claiming that Ighodalo of the PDP had won the election.
The PDP further alleged that the APC – in connivance with the INEC’s Resident Electoral Commissioner (REC) for Edo, Mr Anugbum Onuoha – wanted to “switch Ighodalo’s victory” to Okpebholo, hence the postponement of collation of the results at the state INEC headquarters in Benin City.
This prompted Edo State Governor Godwin Obaseki – accompanied by Ighodalo – to storm the centre, to “force” the officials to continue the collation throughout the night of Saturday, September 21. But after almost four hours, Obaseki’s literally “walked out” of the place by security operatives.
Nonetheless, a careful perusal of the “poll results” on social media – as posted by PREMIUM TIMES – indicates that they’re almost a replica of the 2020 governorship results, which returned Obaseki to his second term in office. 
For example, how can the so-called “2024 poll results” be the same as the 2020 results from Owan East, Etsako Central, Etsako East, Etsako West and Akoko-Edo local government areas, respectively? This is kind of confusion sowed in a desperate “do-or-die affair” to win the election. 
Interestingly overnight at the weekend, there’s jubilation at the APC Situation Room in Benin City, and across Edo State: that the election had returned Okpebholo as the “Governor-in-waiting” even as the collation of results would commence at 10:00am on Sunday, September 22. In tow were seven APC Governors – reportedly on ground in Benin City – who joined in the celebrations.
Meanwhile, the poll controversy stemmed from a roller-coaster kind of vile and vicious electioneering, characterised by inflammatory and inciting rhetoric, insults, mockery, blackmail, harassments, intimidation, threats and physical attacks, resulting in destruction of opposing political parties’ campaign materials and structures, members’ and supporters’ businesses, and injuries and deaths in several instances. 
The height of the bloody campaign was the broad daylight assassination attempt on the candidate of the All Progressives Congress (APC), Senator Monday Okpebholo (APC, Edo Central), and reinstated Deputy Governor Philip Shaibu on July 18, 2024, in the vicinity of the Benin Airport, in Benin City, capital city of Edo State.
The alleged political thugs – who waylaid the joint convoy of Okpebholo and Shaibu, as they arrived at the airport from Abuja amid jubilation by their supporters – succeeded in killing Okpebholo’s chief security detail, Inspector Akor Onuh, and injuring three police escorts, and several persons, including Okpebholo.
Over two months after, there’s no reported headway in the police investigation into the dastardly act, save a reaction by the Inspector-General of Police (IGP), Kayode Egbetokun, to the allegation by Edo State Governor Godwin Obaseki and his ruling Peoples Democratic Party (PDP) in the state, that the police, under the direction of Mr Egbetokun, had arrested and detained 10 PDP members in Abuja, Nigeria’s capital city.
Though Egbetokun denied knowledge of the arrest and detention of the PDP members, saying that, “I am aware that individuals, who committed crimes and political violence in the state, have been arrested,” an Abuja court on Thursday, September 19, reportedly “granted bail” to the 10 PDP detainees.
The killing of Okpebholo’s police orderly, Inspector Onuh, and subsequent arrest and detention of 10 PDP members prompted the refusal of the PDP to sign the Peace Accord facilitated by the National Peace Committee (NPC) on September 12 in Benin City, committing the political parties, their candidates and supporters to an orderly and peaceful conduct before, during and after the election. The APC, which’d earlier withdrawn from signing the accord, citing a lack or none progress of the police investigation into the murder of Onuh, eventually appended the peace deal.
Despite signing the accord, politicians and political thugs still upped their antics to manipulate the electoral process. From the last day of the campaigns on September 19 – when the INEC started the distribution of sensitive materials to the local government areas – through the eve of the election on September 20, rival parties were engaged in several unnervy and underhand incidents to upend or tilt the poll in their favour.
There’re reports of APC political thugs – as broached by the state government through a press conference by the Commissioner for Information, Mr Chris Nehikhare, in Benin City on September 20 – trying to seize control of the Oredo local government area’s office of the INEC, but were resisted by military personnel. Yet, the thugs laid siege around the facility, “to prevent a rival party (PDP) from jijacking the sentive materials to rig the poll.” Similar sieges to INEC offices were reported in Esan West and Etsako West local government areas.
The candidate of the Labour Party, Mr Olumide Akpata, received a rude shock on September 20, with reports that he’d “stepped down” his governorship bid, and “endorsed” the candidate of the PDP, Dr Asue Ighodalo. But Akpata quickly rebutted the viral reports as “false, wicked and baseless,” and “unequivocally” declared that he remained in the race to win on Saturday.
  * On September 20, Prince Henry Okojie, a member representing Esan North-East/Esan South-East Federal Constituency of Edo State, reportedly escaped assassination – foiled by the timely intervention of police personnel attached to him – at his residence in Uromi, headquarters of Esan North-East. Hon. Okojie’s the Edo Central coordinator for the APC Governorship Campaign Council.
 Another attempt by the APC to disqualify PDP’s candidate, Dr Ighodalo, from the governorship poll failed on September 20, when an Abuja Federal High Court, via Justice Peter Lifu, dismissed the suit – which also runs in another court in Abuja – as “frivolous, baseless, and unwarranted,” describing the APC as a “busy body and a meddlesome interloper.”
 Similarly, attempts by a litigant to prevent the APC candidate, Senator Okpebholo, from presenting himself at Saturday’s election was thwarted by an Abuja High Court, through Justice O.C. Agbaza, who granted Okpebholo leave to file for a judicial review of a “criminal summons” issued against him by Magistrate Abubakar Mukhtar, over alleged forgery of his (Okpebholo’s) name. Okpebholo, who’s to appear before Magistrate Muktar by noon on September 20, averred he’d rectified the anomaly at the Supreme Court registry.
This and other issues preceded the poll that reportedly started early in many polling stations across Edo State, amid a poor weather forcast the previous day that actually resulted in a downpour, with enthusiastic voters covering themselves with umbrellas or donning raincoats, while waiting in long queues to accredit and cast their ballots, which ended officially at 3:00pm on Saturday.
The importance of the election was symbolised by a septuagenarian, Fatima Jimoh, who left her sick bed to vote. Aided by her daughter, Ms Jimoh said she wanted to “make Oshiomhole happy” by ensuirng his party (APC) won the polls. After voting at Unit 3, Ward 10, Iyhamo Primary School, Jimoh said, “I am not feeling well. I like Oshiomhole. I come out of illness to vote,” as The Nation reported.
Some observers monitoring the election expressed satisfaction with the early movement of election materials across the state, and also commended the security put in place “to ensure the safety of both the materials, electoral staff and the voters.”
Executive Director, Partners for Electoral Reforms and Board member, YIAGA Africa, Ezenwa Nwagu, praised the INEC for the “smooth and early distribution” of sensitive and non-sensitive materials across polling units statewide. At Ward 12, Agbado Primary School, in Benin city, Nwagu said the process was a far cry from previous situations where materials left for polling units late, resulting in late commencement of polls.
“We have monitored the transportation of the materials from the RACs to polling units, and we are pleased with the organised and timeliness of the operation so far,” Nwagu said, even as the Chairman of Connected Development (CODE), Hamza Lawal, said “INEC has adhered to its promise of early deployment of election materials, which is a critical factor in ensuring a free, fair, and credible election.”
“The early movement of materials to polling units is particularly commendable, as it shows the commission’s commitment to a credible process, and we expect that this is replicated across the board,” Lawal said.
However, there’re some hitches that dented INEC’s roll out across the state, particularly in Ewohimi in Esan South-East, Owan in Owan West, and Jattu in Etsako West local government areas. The INEC officials and materials arrived in Ighodalo’s Okaegben ward one, unit 3 in Ewohimi at 10:30am, exactly the same time as the PDP candidate.
Condemning the alleged arrest of some PDP members in Uromi, Esan North-East, the late arrival of election materials in Owan West, and “APC supporters of doing unimaginable things,” Ighodalo told reporters: “As you can see, INEC officials and materials just arrived and they are well over two hours late. Well, we are still well around the allocated time for voting; let us see what we can achieve between now and close of voting hours,” adding, “it will only be fair if the voting hours are extended by the numbers of hours lost.”
Ighodalo expressed dissatisfaction with the process that delayed the materials, saying: “This is a single state election. INEC has all the time to prepare. We are not comfortable with the little shenanigans that is going on particularly from the APC guys. There are rumours that they are trying to undermine the election process. 
“Many of them have been caught with ballot papers, PVCs. The worst is that they go round trying to buy votes. They buy vote for 15-20 thousand (naira). They are trying everything to subvert the process.
“The kind of numbers I am hearing from Edo North, Edo Central, Edo South, overwhelms me. You know in Nigeria, funny things happen. I don’t know the magic anybody wants to perform. I believe INEC to deliver free and fair election until they prove otherwise. We will win hands down in this election.
“We are not happy about a few ongoings in some places, but we will remain confident. One of our supporters was arrested at Uromi by some people with security outfit. How come it’s only PDP supporters that have been arrested? Every day you see APC supporters doing imaginable things. But nobody arrests them. Nobody investigates them.
“We will win this election by (a) landslide and move our state forward by God’s grace. If there is anybody at home, please come out and cast your vote. We are not worried. We have spent 10 months talking to people, telling them what we will do for them if they elect us. The people believed us and have accepted us all over the state. I don’t know the magic anybody will perform.” Vanguard reported the session with Ighodalo.
Voting was delayed at unit 5, ward 11, at Azama Primary School, Jattu, in Etsako West, as the Bimodal Voter Accreditation System (BVAS) malfunctioned, preventing voters, including reinstated Deputy Governor Philip Shaibu, from casting their ballots.
As of 12:10pm, Shaibu, who’s yet to vote, along with many voters, “who had gathered early to exercise their civic rights,” expressed his disappointment but remained hopeful. “We have been here since, and the machine is not working,” he said. “Reports from other units in this local government indicate they are not having this issue – it’s only here,” he told reporters.
Refraining from labelling the the malfunction of the  BVAS as a sabotage, Shaibu added: “The INEC officer assured us that they would bring another functioning machine and extend the voting time to enable us to cast our votes. I can see that they are working on it.” Shaibu eventually voted after seven hours of waiting at 3:00pm when voting had been concluded in virtually other polling units at the sprawling centre.
The INEC was to extend the voting time in areas where the exercise commenced late. In a statement on Saturday, INEC’s National Commissioner Mohammed Haruna, said: “Our monitoring indicates early commencement of polls in many Polling Units, but there are also reports of late commencement in some locations.
“To ensure that no voter is disenfranchised, the Commission wishes to reiterate that, in line with our Regulations and Guidelines, voting will be extended wherever it commenced late and will continue until the last voter in the queue, who arrived at the Polling Unit by 2:30pm, has voted.”
As of the time of filing this article on Saturday evening, the poll had closed in most polling units, and results were coming in trickles from the 192 wards and 18 local government areas of the state. It wasn’t clear at the time, which direction the pendulum would swing in Edo North of six local government areas of Akoko-Edo, Etsako Central, Etsako East, Etsako West, Owan East and Owan West that’s a stronghold of the APC.
The same scenario prevailed in Edo South senatorial district, comprising Egor, Ikpoba-Okha, Oredo, Orhionmwon, Uhunmwode, Ovia East and Ovia South-West – which’s the largest voter turnout of over 55% of registered voters in Edo State, and overwhelmingly voted for PDP in the 2020 governorship election.
Edo Central senatorial district of Esan Central, Esan North-East, Esan South-East, Esan West, and Igueben – longtime zone for PDP – switched camps to the APC in the 2023 General Election, producing Senator Okpebholo. In Edo 2024, the district presented two fundamentally contrasting leading candidates of the PDP and APC in Ighodalo and Okpebholo, respectively.
However, about 5:00pm on Saturday, the INEC had reportedly released (uploaded) 62 per cent of the results from the election on its Result Viewing (IReV) portal. A visit to the IReV website by The Nation revealed that 2,809 results, out of 4,519 polling units where elections were conducted in the state, had been uploaded for real-time access to the public, for transparency of the electoral process.
And snippets from the IReV – and unconfirmed, but declared results at polling units by INEC officials – indicated that the APC’s leading in Edo North; the PDP and APC were leading in Edo South; while reports from Edo Central were mixed.
The titanic battle among the big three political parties of PDP, APC and LP in Saturday’s election had never been higher, and the question now is: Will the losing parties among them accept the INEC declaration? That’s a rare occurrence in Nigeria’s politics! 
Let’s wait and see, as the INEC has a statutory seven-day window to review the outcome of the election, to see if it conformed to the laws, regulations and guidelines for the conduct of elections in the country!

Mr Ezomon, Journalist and Media Consultant, writes from Lagos, Nigeria

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