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We Need To Diversify The Economy, Be More Technology-Driven & Develop Multi-Skills —- VP Osinbajo

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VP Osinbajo Speaks

Understanding the way technology works and thinking out of the box is the way to go in the world of today, according to Vice President Yemi Osinbajo, SAN.

Prof. Osinbajo declared over the weekend while delivering the second Foundation Lecture of the Elizade University, Ilara-Mokin, Ondo State, entitled “The Future is Here Earlier Than We Thought,” submitting that the path to greatness, and development is in critical thinking, and also coming up with innovative ideas.

Speaking to an audience parked largely with students, and academics, but also consisting a number of leading traditional rulers from Ondo and Oyo States, business and political elites, the Vice President said “whatever you choose to do, be technology savvy and understand its best uses in your chosen discipline.”

He gave a long list of major and global advancements attained through technology and innovative ideas including how some Nigerians have also taken due advantage and called on Nigerians to be even more creative and inventive

Said he “create a network of peers where participants interact and share in the value creation,” adding that people can no longer just be, for instance, an economist, an accountant, a graduate of international relations, Mass Communication or Performing Arts, rather observing that “Multi-skilling is crucial today.”

Continuing he said “you must learn to be a versatile operator not a mono-skilled graduate…everyone has a right to be rich, age is not a barrier.” He also noted that the old way of doing things are gone with the advances of technology.

According to the Vice President it is in recognition of the central role of innovation and technology in national economic growth plan that the federal government in the current budget provided extensively for technology and innovation .

“This year we are establishing technology hubs across the country. Two super hubs in Abuja and Lagos and 6 regional hubs in the six geopolitical zones. In partnership with several technology companies the hubs will be fully resourced with infrastructure and capacity building,”he said.

Starting in the next several weeks, according to Vice President Osinbajo, the federal government will also be training a pool of 100,000 software developers, hardware service professionals, animators, graphic artists, building services professionals, artisans and others.

He intimated further that the federal government in its quest to make the country the technology hub in Africa, had launched a special presidential initiative on technology and start-ups, adding that “50 of the most innovative technology start-ups would soon be invited to the Presidential Villa to meet with major technology and innovation companies as well as collaborating with the federal government.”

Citing examples of the marvels of technology and innovative ideas, the VP stated that the closest position to that of the confidential secretary now is an executive assistant who is expected to have strong technology skills.

During the question-and-answer session, Osinbajo also said “we are not earning enough from oil and taxes anymore, the nation is blessed, every state can feed itself and also export if we engage in agriculture,” he stated.

Answering a question on restructuring, Prof Osinbajo noted that calling for restructuring of the country simply because the federal government controls a bigger portion of the resources may not be helpful or make a difference.

According to him, “even if states are given half of the resources of the federal government, the situation will not change, the only change is to diversify the economy.”

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JUST IN: NAPTIP Declares Speed Darlington Wanted Over Alleged Rape, Cyberbullying

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The National Agency for the Prohibition of Trafficking in Persons has issued a wanted notice for controversial entertainer Darlington Okoye, popularly known as Speed Darlington, over allegations of rape, cyberbullying, and cyberstalking.

The agency made the announcement on its official Instagram account @officialnaptip on Friday.

“WANTED BY NAPTIP. Darlington Okoye, aka Speed Darlington, is wanted in connection with alleged offences including rape, cyberbullying, and cyberstalking.

“Anyone with credible information on his whereabouts is urged to contact NAPTIP immediately. Call: 07030000203, info@naptip.gov.ng,” the statement read.

NAPTIP had previously summoned the musician for questioning after he claimed during a live Instagram session that he had sex with a 15-year-old girl. However, he did not respond to the agency’s invitation.

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13.6% Of Lagos Secondary Students Have Tried Drugs, 6.9% Are Active Users — NDLEA

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The National Drug Law Enforcement Agency, in partnership with the Federal Ministry of Education, has disclosed concerning figures on youth drug use in Lagos State.

Based on a 2024 study conducted by both institutions, 13.6 percent of secondary school students have tried drugs, while 6.9 percent are current users.

In response to the growing issue of substance abuse among young people and other vulnerable populations, the Lagos State Ministry of Health led an intensive awareness initiative on Thursday, June 26, 2025.

The campaign, which took place at the Lagos State Government Secretariat in Alausa-Ikeja, was held to mark this year’s International Day Against Drug Abuse and Illicit Trafficking.

The initiative was coordinated by the Directorate of Pharmaceutical Services and the Lagos State Interministerial Drug Abuse Control Committee, in collaboration with the National Drug Law Enforcement Agency.

This year’s theme was “Breaking the Chains: Prevention, Treatment, and Recovery for All!”

During the event, the Director of Pharmaceutical Services and Chairperson of LSIDACC, Pharm. (Mrs.) Olawale Poluyi, referenced global and national statistics highlighting the scope of the crisis.

She noted that in 2024, over 296 million people globally used drugs, while in Nigeria, 14.4 percent of individuals aged 15 to 64—about 14.3 million people—had used psychoactive substances, with many dealing with substance use disorders.

Poluyi pointed out that “In Lagos State alone, a 2024 study conducted by the NDLEA and Federal Ministry of Education found that 13.6% of secondary school students had experimented with drugs, with 6.9% identified as current users”.

She stressed that these numbers reflect more than just data—they represent broken lives and communities in distress.

She explained that drug addiction is an expanding public health emergency that needs to be approached with scientific and compassionate strategies rather than punishment or stigma.

“Today is not just about awareness. It’s a day of renewed commitment. Drug addiction is not necessarily a moral failure; it is a medical condition. And it must be treated as such,” Poluyi said.

She discussed the multiple factors contributing to drug abuse, including emotional trauma, peer pressure, boredom, and curiosity. She encouraged stakeholders to provide healthier options like counseling, vocational training, religious activities, and sports.

“People turn to drugs for different reasons, but we must ensure there are better outlets, safe spaces where they can heal, learn, grow, and be supported,” she said.

Poluyi also underlined the important role of pharmacists and other medical professionals in fighting drug abuse. She emphasized their duties in areas such as prescription tracking, public education, early detection, and proper medication disposal.

“Pharmacists are not just dispensers; they are gatekeepers in the fight against misuse. We must all play our part,” she said.

Other key attendees at the event included the Director of Epidemiology, Biosecurity and Global Health, Dr. Ismail Abdus-Salam; the Director of LASAMBUS, Mrs. Wuraola Makinde; the Director of Family Health and Nutrition, Dr. Folashade Oludara; and representatives from the Public Enlightenment Department of the Ministry of Information and Strategy.

Speakers at the event emphasized the necessity of inter-agency collaboration and praised the Lagos State Government for its dedication to prevention and youth-centered anti-drug campaigns.

In her final remarks, Poluyi urged healthcare professionals, parents, educators, and community leaders to promote awareness, prevention, and rehabilitation as long-term strategies.

“Let us break the chains of stigma, silence, and suffering. Together, we can build a future where treatment is accessible, recovery is celebrated, and no one is left behind,” she said.

The International Day Against Drug Abuse and Illicit Trafficking, created by the United Nations in 1987, is observed annually on June 26 to promote unified global efforts toward a drug-free world.

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Nigerian Households Earning N250,000 Will Not Pay Tax, They Are Poor — Reforms Committee Chairman Taiwo Oyedele

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Taiwo Oyedele, who chairs the presidential fiscal policy and tax reforms committee, has said that Nigerians earning N250,000 or less per month will be exempt from paying personal income tax under the newly approved tax reforms.

President Bola Tinubu signed the tax reform bills into law on Thursday.

According to Zacch Adedeji, chairman of the Federal Inland Revenue Service, the implementation of the tax reforms will begin in January 2026.

Speaking on the Channels Television programme ‘Politics Today’ on Thursday, Oyedele explained that the exemption is aimed at shielding low-income earners, improving transparency in the tax system, and promoting fairness and efficiency.

While discussing the committee’s definition of a poor household, Oyedele explained that they “came up with a N120,000 or N130,000 per two people working in a household of five”.

He added that “if the earnings are about N250,000, they can take care of themselves. Of course, they are not going to have luxury, but at least they can take care of themselves. They are poor, and they shouldn’t pay taxes”.

Oyedele noted that although the tax law may not directly increase income, it will ensure that it does not “take anything out if you’re poor”.

He further said, “we have eliminated the tax component for people at the bottom, we have reduced it for people at the middle, and we have increased slightly for people at the top”.

He explained that the committee used household data and not solely World Bank benchmarks to assess poverty levels, taking into account local factors such as subsistence farming and informal employment.

Oyedele also described the tax reforms as progressive in nature, clarifying that while low-income earners will be fully exempt, households earning between N1.8 million and N2 million per month will pay reduced taxes, and individuals earning above N2 million monthly will contribute slightly more.

He mentioned that those earning above N2 million monthly make up less than 5 percent of Nigeria’s workforce.

The tax reforms, he said, are “pro-poor, pro-business, and pro-growth”.

He also stated, “we’ve eliminated taxes for the poor, reduced the burden on the middle, and only slightly increased it for the wealthy. That’s what fairness looks like”.

Tax evaders, wasteful incentives targeted

Oyedele explained that the government’s goal is not to raise tax rates but to enhance compliance, efficiency, and digital monitoring.

He said, “now we have the data. From your BVN, electricity bills, land purchases, bank accounts, and even your phone number, we can track economic activity. If you under-report, we’ll find out”.

He pointed out that Nigeria currently collects just 30 percent of its potential tax revenue, with the remaining 70 percent lost due to evasion, inefficiencies, and loopholes.

He stated, “if we just close that gap by half, we can double government revenue without taxing people more”.

Oyedele emphasised that increased revenue will be achieved by addressing tax evasion and cutting down on unproductive incentives rather than raising rates on struggling citizens.

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