AFOLABI
Best doctors in America are Nigerians – Davido claims
Afrobeats singer, David Adeleke, aka Davido, has claimed that the best doctors in the United States are of Nigerian descent.
He made the claim while highlighting the contributions of Africans to both the professional and creative sectors during the Afric TV programme.
Davido pointed out that Africans are some of the brightest brains in the global music industry, stressing that Western filmmakers are now turning to the continent for movie ideas.
He said, “The best doctors in America are Nigerians. You can search it. Even in my record label [Sony Music], Africans bring the best ideas. That shows that our imagination is off the grid.
“Netflix and Amazon Prime come to Africa to get movie ideas. Now, when you come on Netflix, you will see about two Nigerian movies in the top 10. Africa is next, trust me. I feel like we have everything but just missing a couple of things.”
Although Nigerians are renowned doctors in America, statistics do not show that they are the best.
Port Harcourt Refinery begins loading petroleum products to trucks — NNPCL
The Nigerian National Petroleum Company Limited, NNPCL, has announced that the Port Harcourt Refinery on Tuesday began the truckout of petroleum products hours after the plant officially resumed crude oil production.
NNPCL made this known during a commissioning and product rollout event on Tuesday in Port Harcourt, Rivers State.
A statement by the company said trucks has began loading petroleum products, including petrol, diesel and kerosene, while other products will be dispatched as well.
Speaking during a brief ceremony to mark the commencement of product loading at the refinery on Tuesday in Port Harcourt, the group CEO, Mele Kyari, described the commencement of the loadout activities as a monumental achievement for Nigeria.
He said the development signifies a new era of energy independence and economic growth for the country.
Kyari lauded President Bola Tinubu for his unwavering support and understanding towards the rehabilitation project and for his persistence to ensure energy security for the country.
He also expressed deep appreciation to the NNPCL Board of Directors and the entire staff for their support and commitment, which crystallised into the revitalisation of the refinery.
This comes hours after NNPCL spokesperson Olufemi Soneye announced that the refinery has kicked off crude oil production.
The state-owned firm said the plant will begin at 60 percent capacity, with 60,000 barrels per day of crude oil production.
The company said Warri Refinery will soon commence production.
It, however, did not start when Kaduna Refinery will commence production.
‘We’re churning out unemployable graduates’ – UK, Nigeria announce transnational education partnership
The British High Commissioner to Nigeria, Richard Montgomery, has revealed that the UK and Nigeria have agreed a transnational education partnership approach.
According to him, this means the UK universities can work with Nigerian institutions more effectively and work on common standards, raising standards and sharing expertise and lessons in particular sectors.
Montgomery, who stated this on Tuesday on the day 1 of the Going Global Conference being held in Abuja, said he was absolutely confident the two countries will go from strength to strength to bring to bear the best of education.
“I think what’s in it for the UK is that it’s in all our interest to build higher education institutions that are more resilient and provide a better quality education and meet the needs of economies in Africa. And that’s in all our interests,” he said.
“We want to grow our relationship. We need to improve the way the UK higher education sector provides its expertise and its partnerships.
“The UK and Nigeria have agreed a transnational education partnership approach, which means the UK universities can work with Nigerian institutions more effectively and work on common standards, raising standards and sharing expertise and lessons in particular sectors,” he announced.
“And I’m really delighted that sir Steve Smith, the Prime Minister’s International Education champion, is here and is with a delegation of 11 Vice Chancellors from the UK to have discussions with their colleagues in Nigerian higher education institutions here over the next couple of days, both in Abuja and in Lagos. So I think it’s a shared set of interests.
Also, fielding questions from the press, the Minister of Education, Tunji Alaussa, said that President Bola Tinubu wants the education system in the country reformed.
He said it was important that Nigeria’s education is aligned to the needs of the society and to the needs of the 21st century.
“We’re training a lot of graduates, churning out a lot of graduates from our universities that are not employable,” he added.
“We have a unique demography in this country. Nobody has it in the world. We have a population of two 200 million people. 70% of those people are below the age of 30 years old.
“We have to give them an opportunity. And this is what this President is all about. This is what the Renew Hope Agenda is all about. We’re going to be doing a lot of things, and I heard some others are going to be taking some things out from this conference, from initial discussion. “
‘Petrol Prices In Nigeria Will Come Down’ – NMDPRA Boss Confirms As Port Harcourt Refinery Resumes Operation
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed that the price of petrol in Nigeria will crash in the coming days.
The NMDPRA Chief Executive Officer, Farouk Ahmed confirmed this on Tuesday while speaking to newsmen on the resumed operation of the Port Harcourt Refinery.
According to him, the operations of the Port Harcourt Refinery and the Dangote Refinery would ensure the availability of petroleum products and lead to a reduction in prices.
Ahmed added that with the refineries now functioning and the hope that Warri and Kaduna would soon come on board too, Nigeria is set to become a net exporter of petroleum rather than a net importer.
He praised the role played by President Bola Tinubu and other stakeholders in ensuring the resuscitation of the Port Harcourt Refinery.
He said: “Its a major milestone, major achievement to see Port Harcourt Refinery coming back on stream and holding stably. It is indeed a very proud moment for us and a relief because now with the Dangote Refinery on stream, Port Harcourt Refinery on stream, and we are hoping that Warri comes up and Kaduna, we’ll be the net exporter of petroleum products rather than being a net importer.
“It is an achievement that will be accredited to Mr. President of course because he insisted, he persisted, put all the pressure, he said it must be done and it has been done.
“And I congratulate the NNPC and he management of Port Harcourt Refinery for their focus. And also to the contractor, my colleagues, the regulators who are attached to the project, have been working day and night in collaboration with the contractor and management of Port Harcourt Refinery, I also wish to thank my colleagues for achieving this milestone.
“Products will be available nationwide. What is important is that there is now competition and there is a choice, and we will see the prices of the products come down because their is ample supply.”
N80.2bn fraud: EFCC finally detains Yahaya Bello
The Economic and Financial Crimes Commission (EFCC) has detained a former Governor of Kogi State, Yahaya Bello, following his arrest.
Naija News understands Bello was detained at the EFCC headquarters in Abuja after he presented himself at the office of the anti-graft agency on Tuesday.
The former governor’s detention was disclosed by EFCC’s Head of Media and Publicity, Dele Oyewale.
Oyewale told journalists that Bello was arrested by the Commission’s Chief Security Officer (CSO).
“It is true that we have him in our custody. The operatives of the Commission arrested him,” Oyewale said, according to Daily Post.
He is currently being grilled by operatives of the EFCC.
Recall this platform reported earlier on Tuesday that Bello presented himself at the office of the Economic and Financial Crimes Commission (EFCC) in relation to the charges against him by the anti-graft commission.
The former Governor drove himself in a black Hilux and arrived at the EFCC office in the company of his lawyers.
Recall the federal government has filed a new 16-count charge against the former governor of Kogi State, Yahaya Bello, in a case that has intensified scrutiny of his financial dealings.
The charges, submitted to a federal high court in Abuja, center around an alleged criminal breach of trust amounting to ₦110,446,470,089.
2027 Presidency Will Not Return To The North – Doyin Okupe
CBN Raises Monetary Policy Rate To 27.50%
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by 250 basis points from 27.25% to 27.50%.
The decision was taken at the 298th meeting of the Monetary Policy Committee (MPC) according to a statement released by the CBN on Tuesday.
The statement disclosed further that the Cash Reserve Ratio (CRR) was retained at 50% for Deposit Money Banks and 16% for Merchant Banks by the MPC.
“The Monetary Policy Committee (MPC) Voted unanimously to raise Monetary Policy Rate (MPR) by 250 basis point from 27.25% to 27.50%; retain Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks. The Committee also retains the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500/-100 basis points around the MPR,” the CBN statement shared via its official account on the X platform read.
The MPC meeting which was presided over by the CBN Governor, Olayemi Cardoso, urged monetary and fiscal authorities in the country to deepen collaboration to achieve price stability.
The MPC also noted that the cost of petrol has continued to impact manufacturers’ production costs.
Meanwhile, the Central Bank of Nigeria (CBN) has instructed commercial banks to prioritize cash disbursements through automated teller machines (ATMs), warning that institutions failing to comply would face penalties.
In a statement issued by the Acting Director of the Currency Operations Department at the CBN, Solaja Olayemi, the apex bank emphasized the need to ensure easier access to cash for Nigerians amidst reports of scarcity.
The CBN also cautioned against supplying naira notes to individuals or groups involved in the illegal hawking of currency.
Naija News reports that the directive comes as citizens lament the scarcity of cash, which has disrupted transactions and heightened economic uncertainty.
In the circular signed by Olayemi, the apex bank said it commenced spot checks to ensure efficient and responsible cash disbursement to the public and prevent the disbursement of mint banknotes to persons hawking naira notes.
Revenue Not Enough, We Need To Borrow More – Tinubu’s Ministers
The Minister of Finance, Wale Edun and the Minister of Budget and National Planning, Atiku Bagudu, have said the government needs to borrow more to be able to finance its policies.
The two ministers stated that though revenue generation has been on the increase, it would not be enough for President Bola Tinubu’s administration to finance its projects aside infrastructure development.
Edun And Bagudu stated this during an interactive session of the Senate Joint Committees on Finance and National Planning and Economic Affairs on the 2025-2027 Medium-Term Expenditure Framework/Fiscal Strategy Paper.
The Coordinating Minister of the Economy, Edun said, “The revenue effort has been good, but we still need to do better, and in the meantime, we still need to borrow productively, effectively and sustainably.
“Not just infrastructure but also social services, health services, education and intervention in terms of social safety net to help the poorest and most vulnerable.”
On his part, Senator Atiku Bagudu told the lawmakers that the borrowing plans contained in the ₦35.5 trillion 2024 budget, were primarily meant to fund the ₦9.7 trillion deficit.
“Despite revenue targets surpassed by some of the revenue generating agencies, the government still needs to borrow for proper funding of the budget, particularly in the area of deficit and productivity for the poorest and most vulnerable.
“We have a long-term development perspective plan agenda 2050 aiming at GDP per capita of $33,000,” Daily Post quoted Bagudu.
Local Rice, Beef, Eggs Lead The Way In October’s Food Price Surge – NBS Reports
The National Bureau of Statistics (NBS) has revealed that food prices saw substantial increases in October 2024, particularly for items such as beans, eggs, bread, and rice.
This was detailed in the NBS’s Selected Food Prices Watch report for October 2024, which was released in Abuja on Tuesday.
According to the report, the price of 1 kg of brown beans soared by 254.23% from ₦790.01 in October 2023 to ₦2,798.50 in October 2024. On a month-on-month comparison, the price rose by 2.19% from ₦2,738.59 in September 2024.
The average price of medium-sized Agric eggs (12 pieces) also saw a sharp year-on-year increase of 140.21%, climbing from ₦1,112.22 in October 2023 to ₦2,671.60 in October 2024. From September 2024, the price rose by 7.42%.
The cost of sliced bread increased by 103.76%, from ₦760.82 in October 2023 to ₦1,550.24 in October 2024. On a month-on-month basis, the price rose by 1.44% from ₦1,528.19 recorded in September 2024.
Similarly, 1 kg of local rice saw a year-on-year increase of 137.32%, rising from ₦819.42 in October 2023 to ₦1,944.64 in October 2024. The price of rice also rose by 1.56% compared to September 2024, when it was ₦1,194.77.
Additionally, the report highlighted that the price of 1 kg of boneless beef surged by 98.73% year-on-year, from ₦2,948.03 in October 2023 to ₦5,858.58 in October 2024, marking a 3.99% increase from the ₦5,633.60 recorded in September 2024.
On a state-by-state basis, the report showed that Bauchi had the highest average price for 1 kg of brown beans at ₦3,750.00, while Yobe had the lowest at ₦1,749.52.
Niger recorded the highest price for medium-sized Agric eggs at ₦3,450.00, and Adamawa had the lowest at ₦2,050.00. For sliced bread, Rivers recorded the highest average price at ₦1,867.14, while Yobe had the lowest at ₦960.07.
Further analysis by zone showed that the South-South region had the highest price for 1 kg of brown beans at ₦3,274.39, while the North-East recorded the lowest at ₦2,294.29.
The North-Central and South-East regions had the highest average price for medium-sized eggs, while the South-West had the lowest.
The South-South region also had the highest average price for sliced bread at ₦1,829.25, while the North-East had the lowest at ₦1,360.85.
For local rice, the South-East and South-West regions recorded the highest prices for 1 kg of loose rice, at ₦2,146.08 and ₦2,011.05, respectively. The North-West recorded the lowest at ₦1,763.62.
In response to the rising food prices, the federal government had introduced a 150-day duty-free import window for specific food commodities, including maize, cowpeas, wheat, and husked brown rice, starting in July 2024.
However, experts suggest that addressing systemic issues such as insecurity, foreign exchange, and transportation costs would provide more sustainable solutions to food price inflation and ensure long-term food security.
‘It Is Wicked To Judge Tinubu Now, Dollar Could Have Been ₦17,000, Fuel ₦4,000 If Not For Him’ – Okupe
A former presidential aide, Doyin Okupe, has submitted that the reforms initiated by President Bola Tinubu are in the best interest of Nigeria and Nigerians.
According to him, Tinubu met a dying economy where 98% of revenue was going into debt servicing, and therefore, the President had to take drastic action to save the country from total collapse.
Okupe submitted that it is unfair and almost wicked for Nigerians to judge President Tinubu since his administration has barely stayed 18 months in office.
Speaking during an interview with Arise TV on Monday, Okupe submitted that dollar to naira exchange rate could have risen as high as ₦17,000 to one dollar, and fuel could cost up to ₦4,000 per litre if not for the intervention of President Tinubu’s economic reforms.
“I heard people complain that the dollar is N1,700; it could have been worse, it could have been N17,000. That fuel is N1,000; it could have been worse; it could have been N3,000 or N4,000 per liter if these reforms had not been in place and has checked the escalating hyper-inflation in which we entered into.”
The former chieftain of the Labour Party said the country was socially and economically finished before Tinubu came into power and started the recovery process through his reforms.
Okupe also accused former President Muhammadu Buhari of printing up to ₦30 trillion during his time in power just to shield the true economic situation away from Nigerians.
“Bola Tinubu has come with very serious reforms that will take the country away from the situation in which it had been undergoing for the past eight to ten years,” he said.
Watch the video below.