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Nigeria Loses $33m Daily to Oil Thieves

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Wale Tinubu, chairman of Oando Energy Resources, has said that Nigeria may be losing about $33 million daily to theft as the activities of oil thieves have risen from 400,000 barrels per day, bpd to 600,000 bpd in the Niger Delta.

Tinubu who spoke at the just concluded Nigeria Oil and Gas (NOG) Conference in Abuja said that oil theft had badly affected the nation in many ways.

He said about 30 per cent of the nation’s 2.2 million barrels daily output is stolen and export illegally to operate illegal refineries and export to foreign markets.

“Oil theft in Nigeria is believed to be about 6 -30 percent of the country’s daily production. Nigeria currently imports petroleum products even though it’s the 13th largest oil producer,” he said.

Tinubu advised the government to create bi-lateral relations with growing energy dependent economies such as India & China in order to attract more patronage for its crude oil and gas as well as ensure improved regulation and attractive fiscal terms to encourage foreign investments & confidence in the oil industry,’ he said.

He said government should also ensure efficient security measures are in place to prevent bunkering and oil theft in the nation, adding that Nigeria should adopt and implement adequate measures targeted at eliminating gas flaring in the nation.

“Gas flares the second largest amount of gas in the world. Flaring about 18 per cent of the associated gas Nigeria lacks proper gas distribution and transportation systems,” he said. He said over 70 per cent of Africa’s population has no access to electricity, which acts as a fundamental brake on development in the region.

“Nigeria has the largest gas reserves which are sufficient to power up the country and still export energy to other African countries,” he remarked. He said turbines should be established at gas flaring sites to convert gas to power at various oil producing areas.

Tinubu said efforts should be made to open new markets for the nation’s oil as crude oil and petroleum products exports to USA have dropped by 67 per cent to 33 mbls in 2014.

“Nigeria’s oil production has remained stagnant since 2010 as foreign investments inflow have reduced over the last 5 years 32 per cent,” he said. He said given the importance of crude oil derivative products, crude oil must be refined into consumable products to maximize revenue generation for stakeholders, including the government.

Tinubu also called for urgent development of the power sector, especially through increased supply of gas to thermal plants.

“Over 70per cent of Africa’s population have no access to electricity, which acts as a fundamental brake on development in the region,” he said.

He said the government and others should make massive investments in gas infrastructure including pipelines, compressors, gas tanks and gas refineries for processing and delivery of gas to the end user.

“Nigeria has the largest gas reserves which are sufficient to power up the country and still export energy to other African Countries,” he added.


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PalmPay Strengthens Data Protection Culture with Employee Privacy Workshop and Privacy Champions Programme

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PalmPay has reinforced its commitment to responsible data governance and customer information protection through a specialised two-day data protection workshop for employees and the launch of its internal Privacy Champions Programme, an initiative designed to strengthen awareness, accountability, and responsible data handling across the organisation.

The initiative comes at a time when data protection is increasingly critical following recent reports of recorded 281,500 compromised user accounts in the first quarter of 2026, ranking 34th among the world’s most breached countries, according to a new quarterly data breach analysis by cybersecurity firm, Surfshark.

Facilitated by the Nigeria Data Protection Commission (NDPC) and leading Data Protection Compliance Organisation (DPCO) TechHive Advisory, the two-day workshop equipped employees with practical knowledge on privacy governance and data protection obligations, incident awareness, and the role each employee plays in protecting personal data.

The initiative forms part of  PalmPay’s ongoing efforts to   advance compliance with the Nigeria Data Protection Act (NDPA) 2023. It also reflects the company’s continued investment in safeguarding customer information and fostering a culture where privacy remains everyone’s responsibility.

The Privacy Champions Programme establishes a network of employee representatives across business functions who will support awareness, promote best practices and help strengthen the organisation’s privacy culture. By integrating privacy considerations into day-to–day activities the initiative aims to further enhance accountability and reinforces customer trust.

Speaking on the initiative, Managing Director of PalmPay, Chika Nwosu, stated: “At PalmPay, protecting customer information is fundamental to maintaining the trust our customers place in us everyday, and remains central to our operations. Statistically, 10 out of 100 Nigerians have been affected by data breaches.

Hence, we have a greater responsibility to ensure that personal information is collected, processed, stored, and protected responsibly. This specialised training reflects our continued investment in strengthening internal awareness and ensuring our teams remain equipped to uphold the highest standards of data privacy and protection.”

As a digital financial services platform serving millions of users, PalmPay reaffirmed that privacy and data protection remain embedded in its operational culture, with continuous investments in data governance practices.

PalmPay also encourages customers to remain vigilant and adopt safe digital practices, including protecting account credentials, exercising caution when sharing personal information online, and reporting suspicious activities promptly. The company maintains that building a secure digital ecosystem requires a shared commitment from organisations, regulators, and users alike.


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Tinubu appoints Adigwe to head National Health Technology, Data Analytics Office

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President Bola Tinubu has appointed Dr Obi Adigwe as the National Coordinator of the newly established National Health Technology and Data Analytics Office (NHTDAO).

Tinubu appoints Adigwe to head National Health Technology, Data Analytics Office

President Bola Tinubu

The appointment was announced in a statement issued on Friday.

The office, which will be domiciled in the Office of the Coordinating Minister of Health and Social Welfare, is expected to serve as the national coordination platform for Nigeria’s digital health system.

According to the statement, the NHTDAO will complement the work of existing health institutions by promoting coordination and interoperability across public and private healthcare systems, rather than replacing existing agencies.

It said the office would also drive the implementation of the National Digital Health Architecture approved by the National Council on Health in November 2025.

The statement said the initiative formed part of the Federal Government’s efforts to strengthen a secure, technology-driven and data-enabled healthcare system capable of improving service delivery nationwide.

Adigwe, who currently serves as the Director-General of the National Institute for Pharmaceutical Research and Development (NIPRD), has led several initiatives in science, pharmaceutical research, technology transfer and artificial intelligence.

He also coordinated major research funding initiatives, including a ¥300 million nanotechnology grant and an €18 million European Union research grant, while supporting the establishment of Africa’s first Active Pharmaceutical Ingredient (API) training facility through support from Afreximbank.

The statement said the new office would be guided by a steering committee co-chaired by the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, and the Chairman of the Nigerian Economic Summit Group, Mr Olaniyi Yusuf.

Other members of the committee include the Minister of State for Health, Dr Iziaq Adekunle Salako; senior officials of the Federal Ministry of Health and Social Welfare; representatives of the National Information Technology Development Agency (NITDA); and heads of key health agencies, including the National Primary Health Care Development Agency (NPHCDA) and the National Health Insurance Authority (NHIA).

The committee will also include representatives of state commissioners for health from the six geopolitical zones, as well as industry and community stakeholders.

The Federal Government expressed optimism that the office would strengthen coordination across the health sector, accelerate digital transformation and improve healthcare delivery in line with the Renewed Hope Agenda.


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The Gathering on 100 Awards N5m to Young Entrepreneurs in Enugu

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The Gathering on 100 made its latest stop in Enugu over the weekend, bringing together hundreds of young Nigerians for a day of networking, fun, entertainment, and business opportunities.

The Gathering on 100 Awards ₦5 Million to Young Entrepreneurs in Enugu

The event, previously held in Lagos and Aba, arrived in Enugu as the city gains recognition as one of Nigeria’s emerging innovation and startup hubs. Recent ecosystem reports rank Enugu among the country’s leading startup cities. The South-East region now accounts for more than half of identified startups across the South-East and South-South, highlighting the region’s growing role in Nigeria’s entrepreneurial landscape.

A major highlight of the Enugu edition was the Pitch-a-thon competition, where three entrepreneurs received a combined ₦5 million in grants to support their business growth. More than 100 entrepreneurs applied for the competition, with 10 finalists selected to pitch before a panel of judges. At the end of the contest, Velas Global Nutrition Limited emerged as the overall winner, securing ₦2.5 million. Werxio, founded by Donatus Prince, received ₦1.5 million, while Whipcare Company was awarded ₦1 million.

These grants address a persistent funding challenge. According to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the country is home to over 39 million MSMEs, contributing nearly half of Nigeria’s Gross Domestic Product and accounting for about 84 per cent of employment nationwide. Despite this, access to finance remains a significant obstacle to business growth.

For Chizoba Osuji, founder of Velas Global Nutrition Limited, the funding facilitates the expansion of a business built on years of research. Her company processes indigenous crops into shelf-stable blends, supporting nutrition and local women smallholder farmers. “This is motivation to keep making Nigerians healthier through better food,” she remarked, noting the grant will fund semi-automated equipment to increase production capacity to 20 tonnes monthly.

She added that the ₦2.5 million grant would be used to acquire semi-automated equipment capable of increasing production capacity to about 20 tonnes monthly. Beyond increasing output, the expansion is expected to create additional opportunities for women smallholder farmers across the South-East who supply many of the raw materials used by the company.

Speaking on the initiative, MTN’s Regional General Manager (Sales), Callima Inino, represented by Peter Kajovo, said The Gathering on 100 was designed to provide young Nigerians with platforms to connect, learn, showcase their talents and access opportunities that can help them grow.“We want to encourage youths to live their best lives and have fuller expressions of themselves,” he said.

As the Enugu edition concludes, the energy of the South-East’s startup scene remains evident. The Gathering on 100 continues its nationwide tour, connecting more young founders with the visibility and support they need. Stay tuned to discover where the tour will land next as it moves to its next exciting location.


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