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Diversification from oil, an urgent economic necessity – Speaker Abbas

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…as he charged stakeholders at 14th Al-Hikmah inivarsity convocation lecture
By Gloria Ikibah
The Speaker of the House of Representatives, Rep. Abbas Tajudeen, has emphasised the urgent need for Nigeria to diversify the oil-dependent economy, warning that a further delay poses more challenges ahead for the country.
Speaker Abbas who stated this during the 14th Convocation Lecture of the Al-Hikmah University, on Monday, on Monday, called for deliberate and collective efforts by all stakeholders in the public and private sectors to chart a strategic way forward for the country economically.
Naijablitznews.com reports that was the first convocation lecture the Speaker personally delivered since his emergence in June 2023, Titled, ‘Beyond Oil: Exploring Alternative Revenue Potentials for Economic Growth and Sustainable Development in Nigeria’.
The Speaker, who expressed his delight for being the convocation lecturer at the first Islamic-based private University in Nigeria, noted that the topic was apt, as he considered it “a great challenge to the consciousness of our political leaders, policymakers, technocrats, and academicians on the need for strategic thinking and urgent collective action.”
While stating that the topic “speaks to one of the most pressing challenges confronting our nation,” Speaker Abbas stressed that “it becomes evident that our over-reliance on oil revenue has left us vulnerable to global market fluctuations, environmental degradation, and economic instability.”
Speaker Abbas listed the potential sectors for diversification in Nigeria as including agriculture, mining, manufacturing/industrialisation, ICT/digital economy, creative industries/tourism.
Speaker Abbas also noted that oil dependency has led to several economic, environmental, and strategic challenges. Economically, he said Nigeria faces significant volatility due to fluctuations in global oil prices.
The Speaker equally identified the challenges impeding diversification as including institutional weaknesses, infrastructural deficits, and global economic pressures.
The Speaker noted that the urgency of the discussion cannot be overstated, especially with dwindling oil revenues, global shifts toward renewable energy, and the increasing need for job creation.
“It is imperative that we chart a new course for economic transformation. This requires deliberate efforts to unlock the potential of other sectors, such as agriculture, solid minerals, technology, and the creative industries. Achieving this transformation will secure Nigeria’s economic future and address poverty, inequality, and unemployment—critical barriers to sustainable development,” he said.
Apart from that, he said oil dependency has contributed to severe environmental degradation, especially in the Niger Delta region, where most of Nigeria’s oil production occurs.
Furthermore, the Speaker said Nigeria faces the strategic challenge of adapting to the global transition towards renewable energy sources.
“As the world moves to reduce carbon emissions and adopt cleaner energy technologies, the demand for fossil fuels is expected to decline. This transition poses a long-term risk to Nigeria’s oil revenues and economic stability.
“Without a robust strategy for economic diversification, Nigeria may struggle to remain competitive in a changing global energy market. Addressing these challenges requires coordinated efforts to enhance economic resilience, protect the environment, and position Nigeria for sustainable growth in a low-carbon future,” he stated.
Recognising these challenges, Speaker Abbas equally noted that Nigeria has pursued economic diversification for over 30 years to reduce its dependence on oil revenues.
“Despite these efforts, Nigeria’s economy remains highly reliant on oil,” the Speaker, however, stated.
Speaker Abbas pointed out that economic diversification is vital for stability, job creation, and achieving the Sustainable Development Goals (SDGs). “Nigeria’s debt-to-GDP ratio of 34.6 percent necessitates prudent resource management. Investing in non-oil sectors can stimulate economic resilience and reduce dependence on volatile oil markets,” he stated.
The Speaker noted that President Bola Ahmed Tinubu’s administration has prioritised economic diversification through bold reforms, including removing fuel subsidies and implementing the Presidential Initiative on Compressed Natural Gas (CNG).
He said: “The administration’s tax reform programme aims to improve Nigeria’s tax-to-GDP ratio, currently at 10.9%, by streamlining administration and broadening the tax base (Nigeria Economic Data, 2024).
“Investments in infrastructure and human capital development, including a proposed N16 trillion allocation to infrastructure and N6 trillion for education, further demonstrate the government’s commitment to sustainable growth.”
The Speaker stated that embracing economic diversification is critical for Nigeria to navigate global energy transitions, meet climate commitments, address demographic pressures, and achieve economic stability.
He said: “Strategic investments in agriculture, manufacturing, solid minerals, tourism, and renewable energy will reduce dependence on oil, create jobs, and foster sustainable development. With visionary leadership and targeted policies, Nigeria can unlock its vast economic potential and secure a prosperous future.”
Speaker Abbas told the audience that the 10th House of Representatives, tagged the ‘People’s House,’ has demonstrated a strong commitment to addressing economic challenges through its Legislative Agenda. “This agenda prioritises unlocking economic growth and developing Nigeria’s vast human and natural resources, emphasising legislative reforms and strategic oversight to support diversification,” he noted.
Acknowledging the need for economic restructuring, Speaker Abbas disclosed that the House has supported legislation to reduce dependence on oil revenues, enhance agricultural productivity, and promote industrialisation.
“Constituency projects, including road construction, school renovations, and water supply schemes, have also contributed to job creation and economic empowerment at the grassroots level,” he said.
Speaker Abbas concluded by saying: “This lecture has laid bare the vulnerabilities inherent in Nigeria’s over-reliance on oil revenues, highlighting the economic, environmental, and structural challenges this dependence has created.
“We examined Nigeria’s historical trajectory as an oil-dependent nation and drew lessons from the successes and failures of other resource-rich countries.
“Notable examples such as Saudi Arabia, Malaysia, and the United Arab Emirates demonstrate that economic transformation is achievable through deliberate diversification strategies anchored on policy reforms, infrastructure investments, and human capital development.”
He added that the lecture has underscored “the urgency of harnessing Nigeria’s abundant natural resources, fertile agricultural lands, burgeoning creative industries, and vibrant technology sector to build a resilient economy.”
Speaker Abbas stressed: “Nigeria’s economic transformation demands collective responsibility. The government must lead with visionary policies, transparent governance, and strategic investments in infrastructure and education. Parliament should continue to enact enabling legislation and ensure rigorous oversight of policies and programmes aimed at diversification.
“Academia has a vital role in conducting research, generating data-driven insights, and developing skills essential for the new economy. Universities should strengthen collaborations with industries to drive innovation and entrepreneurship.
“The private sector must embrace investments in emerging industries, support small and medium enterprises, and leverage technology to boost productivity.
“As the backbone of Nigeria’s workforce, youths, including all of you in this hall, must seize opportunities in entrepreneurship, agriculture, digital technology, and creative industries to redefine Nigeria’s economic narrative.”

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Japa on reverse lane as US releases names, photos of 112 Nigerians on deportation list

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Japa on reverse lane as the United States Department of Homeland Security, DHS, has updated its list of Nigerians facing removal from the country, reducing the number to 112 and publishing their names and photographs online.

The latest list features Nigerians from different parts of the country and was published through the DHS official website.

Among those listed are Cletus Onyali, Olaolu Alabi, Marcus Unigwe, Mkpouto Etukudoh, Blessing Uchanma, Olaniyi Ojikutu, Richard Ugbah, Oluwamuyiwa Olawoye, Anthony Asanya and Ebele Agbasiele

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Others identified on the list include Izuchukwu Okoye, Olufemi Olufisayo Olutiola, Abiemwense Obanor, Chibuzo Nwaonu, Oluchi Jennifer Chimdimma Chime, Ifeanyi Okoro, Oluwaseun Kassim, Quazeem Adeyinka and Talatu Dada.

The complete list contains 112 names, with the photographs and details of the other individuals available through the DHS online portal.

The publication comes amid stepped-up immigration enforcement by the US government, particularly involving undocumented immigrants and individuals with outstanding removal orders.

It also comes against the backdrop of efforts by US authorities to obtain increased cooperation from foreign governments in receiving their nationals who have been ordered to leave the United States.

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Nigeria has previously faced pressure from the US over the repatriation of its nationals subject to deportation.

The updated publication provides public access to the identities and photographs of the Nigerians currently identified by DHS for removal from the United States.

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Oyo kidnap: Five defendants plead not guilty to seven count charges

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The Department of State Services, DSS, on Thursday re-arraigned five men accused of complicity in the May 15 kidnap of pupils and teachers in Oriire Local Government Area of Oyo State and the subsequent killing of two of the victims.

They were arraigned on a seven-count amended charge marked FHC/ABJ/CR/438/2026, filed by the DSS on behalf of the Federal Government.

The defendants, accused of being members of the Jama’atu Ansarul Muslimina fi-Biladis Sudan (ANSARU) terrorist group, are Mahmud Muhammad (aka Abu Bara’a, Abbas Mukhtar); Abubakar Abbas (aka Isah Adam, Mallam Mahmuda Al-Nigeri); Abdulrazak Umar (aka Abu Khalifa/Abu Khalid); Yunusa Musa (aka Abu Yunusa Bin Musa); and Shamsu Adamu Sani (aka Abu Itisar).

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All five defendants, however, pleaded not guilty to the charges when they were read to them by the Registrar of the court.

The Director of Public Prosecutions of the Federation (DPPF), Mr Rotimi Oyedepo, SAN, who led the DSS legal team, applied for the immediate trial of the defendants in line with the provisions of the Administration of Criminal Justice Act, 2015.

He also applied for the names of witnesses lined up to testify in the trial to be shielded and for them to be permitted to wear masks to ensure their protection.

Following no objection from counsel to the defendants, Bala Dakum, Justice Salim Ibrahim granted the request of the DSS counsel.

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At the time of filing this report, arrangements for the full-scale trial were being put in place.

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Autopsy Confirms #EndSARS Journalist Pelumi Onifade Died From Gunshot Wound

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LAGOS — A post-mortem examination conducted by the Department of Pathology and Forensic Medicine at the Lagos State University Teaching Hospital (LASUTH) has confirmed that 20-year-old journalist Pelumi Onifade died from a penetrating firearm injury to the abdomen.

The finding is contained in a six-page autopsy report dated July 30, 2026, and submitted to the Lagos State Coroner’s Court investigating the circumstances surrounding the young journalist’s death during the October 2020 #EndSARS protests.

According to the report, Onifade died from massive haemoperitoneum, a severe accumulation of blood in the abdominal cavity, caused by a high-velocity projectile that penetrated his abdomen.

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The forensic finding provides medical evidence establishing a gunshot injury as the cause of death, while the circumstances surrounding who fired the shot and the events that followed remain matters before the coroner’s proceedings.

How Onifade Died

Onifade was a 200-level History student of Tai Solarin University of Education (TASUED) and worked as an intern reporter with Gboah TV, a Lagos-based online news platform.

On October 24, 2020, during the nationwide #EndSARS protests against police brutality, he was assigned to cover an attempted looting at a government palliative storage facility in the Abattoir area of Oko-Oba, Agege, Lagos.

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According to accounts presented by his family and colleagues, Onifade was wearing a press jacket and carrying reporting equipment when officers attached to the Lagos State Task Force opened fire while attempting to disperse the crowd.

He was reportedly struck by a bullet and subsequently taken away in a police van, commonly referred to as a Black Maria.

A colleague who was with him at the scene reportedly attempted to identify him as a journalist and explain that he was carrying camera equipment, but those efforts were unsuccessful.

Onifade was not seen alive again after that incident.

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Family Searched Police Stations, Hospitals

Following his disappearance, his family and colleagues searched police stations, detention facilities and hospitals across Lagos in an attempt to establish his whereabouts.

According to the family, police authorities denied having him in custody.

Six days later, on October 30, 2020, the family located his body at the mortuary of Ikorodu General Hospital, where it had been registered as a “brought-in-dead” case under body number 1385.

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The discovery triggered years of demands for an independent investigation into how the young journalist died and how his remains ended up in the mortuary.

DNA Test Identified the Body

The identity of the body was subsequently confirmed through forensic DNA testing.

Results from the Lagos State DNA and Forensic Centre established a match between the unidentified body bearing tag number 1385 and reference samples obtained from Onifade’s parents.

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The DNA confirmation provided a crucial breakthrough after years of uncertainty surrounding the whereabouts and identity of the missing journalist.

Court Ordered Coroner’s Inquest

The search for accountability later moved into the courts.

In July 2024, Justice Ayokunle Olayinka Faji of the Federal High Court in Lagos ordered the Lagos State Government and the police to conduct a coroner’s inquest into Onifade’s death.

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The objective of the inquest is to establish the circumstances surrounding his death and determine the facts surrounding the actions of the security personnel involved.

The ongoing proceedings before the Lagos State Coroner’s Court are being presided over by Magistrate Temitope Oladele.

Following the submission of the post-mortem report, the court has directed key witnesses, including police personnel who were on duty in the Oko-Oba area on October 24, 2020, to appear and testify.

Rights Groups Demand Accountability

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Media Rights Agenda (MRA), which has supported the Onifade family in its legal efforts, has described the post-mortem findings as significant evidence in the case.

Rights activists, journalist unions, and the deceased’s family continue to demand the public prosecution of the police officers who fired the shot and those who supervised the deployment during the Lagos #EndSARS demonstrations.

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