News
President Jonathan Says West is Buying “Blood Oil”
President Goodluck Jonathan yesterday met with David Cameron, British Prime Minister and pleaded his country’s assistance to stem the big oil theft in Nigeria’s Niger Delta.
Jonathan reportedly told Cameron, who now chairs G8 that stolen oil from the Nigeria is shipped abroad where it is refined and sold in the international market.
He described the crime as “blood oil”.
Oil theft, known in Nigeria as illegal bunkering accounts for more than 10 per cent of Nigeria’s daily oil production of 2.2 million barrels.
The president who called for sanctions for all those involved in the illegal trade, said that the G8 has a role to play in putting an end to the crime, challenging the group of industrialised nations to take a stand similar to the one taken on money laundering by public office holders
Jonathan also called on the G-8 to look into the issue of proliferarion of small arms and light weapons in Africa, and long term peace keeping support for Mali, a theme that he took across the Channels to Paris, where he later held talks with President Francois Hollande.
According to him, there is need to sustain stability in Mali after the military intervention, otherwise, the rebels may adopt a guerrillas approach of killings and suicide bombings, thus continuing their terrorist activities by other means.
While noting the cordial relations between Nigeria and the UK, the President expressed commitment to promoting trade and investment between both countries.
“We have a robust relationship in terms of trade, because trade between African nations are more difficult than trade with other countries. Without robust trading the economy cannot develop because whatever you do either primary production or industrial, you need trade facilitation,” Jonathan said.
Responding, Cameron, said both nations had a close relationship based on successful trade and investment which would double in the coming years.
Cameron also said that the two countries would continue to build on their strong diplomatic and political relations as well as aid and development partnership.
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 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.”
Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”
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.
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.
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.
“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.
SERAP Asks Tinubu to Probe Alleged N6.79Bn Missing Police Funds, Firearms
FCT Court Awards Ex-Customers N15m against Stanbic IBTC over Data Privacy Breach
CBN Exposes over 13,000 BVNs Tied to Fraud as Banks Tighten Security
Atte, Nigerian Develops AI Algorithm for Hair Transplants
Dare Tackles Onaiyekan over Criticism of Tinubu, Says Economic is Working
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
EFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
From Scarcity to Scale: What Africa Can Learn from India’s Agricultural Transformation
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
BON Establishes Six Ad Hoc Committees to Modernize Broadcasting
Broadcasting2 days agoDavido Shares Past Suicidal Thoughts, Drops Oriadé Album
E-Business2 days agoHow Temu Helped a Madagascan Vanilla Family Business Sell Direct to Consumers Across Europe
General News2 days agoMTN Nigeria Posts N707.5bn H1 Profit, Declares N26 Interim Dividend
General News2 days agoGavi Okays $500m for Vaccines, PHCs in Nigeria
News2 days agoCisco Explores AI for Nigeria Farmers
News2 days agoAfCFTA Urges Africa to Stop Exporting Raw Materials
E-Business2 days ago82% of Organizations Concerned about AI Risks Even as Adoption Accelerates – Survey Reveals
General News2 days agoPolice Uncover Fake Diplomatic Number Plate Syndicate in Abuja