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National Theatre: Calzada Petitions CBN, Makes Demands

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Mr. Godwin Emefiele, CBN governor
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Calzada Limited, an investor, has petitioned the Central Bank of Nigeria (CBN), demanding full compliance with concession bid for the National Theatre earlier conducted in 2015.

This is part of crisis arising from the Federal Government’s decision to hand over the facility to CBN, and the Bankers Committee.

Two other companies, Topwide Apeas and Jadeas Trust had gone to court over the facility with the case being slated for hearing on October 29, 2020.

The management of Calzada Limited, in its petition to the apex bank said it participated in a very competitive concession bid conducted by the Federal Government on ‘The Fallow Land around the National Theatre’ and emerged as the ‘Preferred Bidder.’

The Calzada said it had gone ahead after winning the bid, and began setting up structures and facilities for the project before the current government came into office and unilaterally put a wedge on its progress.

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The letter dated July 17, 2020, entitled, ‘Re-Concession of the fallow land around the National Theatre in line with master plan (Nigeria Entertainment City)’ and was written by its legal representatives, Elias Mordi and Co.

The letter with subtitle, “Demand for Justice and Compliance with the bid awarded to Caldaza Limited,” reminded the CBN Governor, Godwin Emefiele that after the bidding, contested by seven other companies, the then Minister for Tourism, Culture and National Orientation, Chief Edem Duke, wrote and notified it (Caldaza) of haven emerged as the ‘Preferred Bidder’ for the project.

“Our client was shocked to learn, upon coming into force of the present government that the project has been taken off her shoulders and given to a third party company which never participated in the bidding exercise,” the petition added.

“More worrisome is the wave of news and information through print and electronic media that the federal government of Nigeria through the Central Bank of Nigeria and the Bankers’ Committee have concluded plans to take over and indeed taken over, the same project which was duly awarded to our client which was driven out thereof in a Gestapo matter.

“We can confirm the assertion under this head as have learnt of suit No. FHC/L/CS/2932/2019 Topwides Apeas Ltd Vs National Theatre and National Troupe of Nigeria Board & 6 Ors pending before the Honourable Justice Ayokunle Faji of the Federal High Court, Ikoyi Lagos.

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“Government is a continuum. And we, by this letter, and on behalf of our client (Calzada Ltd), call on your office and that of the Hon.

“Attorney General of the Federation which is the Chief Law Office of Nigeria to review the steps taken by the Federal Government of Nigeria and its agencies in this complaint and return the issues, subject matter and premises in question to status quo when our client was awarded the concession of the fallow lands of the National Theatre, Iganmu, Lagos.

“We have overtime, searched every available records and cannot find where the selection of our client was faulted by any rightful authority and more worrisome is the way and manner the whole activities are being handled by persons our client cannot identify in the project.”

It warned that it would not hesitate to activate legal proceedings against all concerned if the grievances were not resolved and on time.

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Atte, Nigerian Develops AI Algorithm for Hair Transplants

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Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.

Atte, Nigerian Develops AI Algorithm for Hair Transplants

Atte Ayodeji

Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.

Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.

His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.

Sunday Dare, special adviser on Media and Public Communication to President Tinubu,  celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.

“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”

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Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”

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FG to Abolish Subsidies in Power Sector in 2027 – Minister

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Mr. Joseph Tegbe, minister of Power, has said that the federal government plans to end power sector subsidies from 2027 and that there are no immediate plans for tariff increases.

FG to Abolish Subsidies in Power Sector in 2027 – Minister

Mr. Joseph Tegbe, minister of Power

The minister told journalists during the media interactive session at the weekend that the government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting liabilities in the power sector.

He explained that the planned removal forms part of the broader reforms aimed at ensuring the long-term sustainability of the electricity sector, while tackling the financial challenges confronting the industry.

According to the minister, despite the planned subsidy withdrawal, there are no immediate plans to increase electricity tariffs, reassuring consumers that the government is not considering a tariff hike in the short term.


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AfCFTA Urges Africa to Stop Exporting Raw Materials

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Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.

She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.

According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.

“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.

Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.

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“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.

She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.

Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.

“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.

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