Author: Akintayo Adams

The Dangote Petroleum Refinery has announced a significant reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, across its outlets. This move has prompted several fueling stations to follow suit, providing much-needed relief to Nigerians amidst economic challenges. Key Details: Broader Implications: This price reduction is expected to ease transportation costs and reduce the overall cost of living for many Nigerians. It also demonstrates Dangote Refinery’s commitment to ensuring a steady supply of petroleum products and supporting the country’s economic recovery. However, the move has raised concerns among fuel importers, who may face significant financial losses…

RSD shopping complex located at Ogungbade area of Ibadan was on Thursday afternoon ravaged by fire. The upper floor of the complex was ravaged by the fire. The General Manager of Oyo State Fire Service, Mr Yemi Akinyinka confirmed the incident. He said, “On Thursday 27th February, 2025 by 12:58 hrs, the agency’s control room center received a distressed call. “The fire personnel led by ACFS Olubunmi left for the scene and arrived at the place where an upper floor of a Storey complex was engulfed by fire. “We swiftly swung into action and restricted the fire not to affect…

The Federal Bureau of Investigation (FBI) has accused North Korea of orchestrating a massive cryptocurrency theft, amounting to $1.5 billion. This incident is considered the largest crypto heist in history. Details of the Theft FBI’s Statement The FBI stated that the stolen assets are expected to be further laundered and eventually converted to fiat currency. The agency has advised private sector entities and virtual asset service providers to block transactions with or derived from addresses associated with TraderTraitor. Historical Context The Lazarus Group gained notoriety a decade ago when it was accused of hacking into Sony Pictures as revenge for…

The political landscape in Lagos State has taken a dramatic turn as the police have restored the security details of Hon. Mudashiru Ajayi Obasa, the former Speaker of the Lagos House of Assembly, while withdrawing those of Hon. Mojisola Lasbat Meranda. This development comes as Obasa is set to return to his position as Speaker. Background Obasa was impeached as Speaker on January 13, 2025, and Meranda, his deputy, was unanimously elected to replace him, making her the first female Speaker in the history of the state. However, recent interventions by key leaders of the All Progressives Congress (APC) have…

A tragic incident occurred late on Tuesday, February 25, 2025, when a Sudanese army plane crashed in a residential area near the Wadi Seidna military airport in northern Omdurman. The crash resulted in the deaths of at least 46 people, including both military personnel and civilians. Details of the Crash Response and Rescue Efforts Firefighting teams managed to contain the blaze at the crash site, and the injured were promptly taken to the hospital. The Karari Resistance Committee, part of a network of volunteers coordinating aid across Sudan, reported that several injured people were brought to al-Nao Hospital in Omdurman.…

The Supreme Council for Shari’ah in Nigeria (SCSN) has voiced its disappointment regarding the Muslim-Muslim ticket that brought President Bola Tinubu and Vice President Kashim Shettima into office in 2023. The council stated that the anticipated benefits for the Muslim community have not materialized. Key Points from SCSN’s Statement: Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

The 45th and 47th U.S. President Donald Trump has announced the introduction of a $5 million “Gold Card” visa aimed at attracting wealthy foreigners to the United States. This new initiative, which Trump referred to as the “Trump Gold Card,” offers a path to U.S. residency and citizenship for those who can afford the hefty price tag. Key Details: Trump’s announcement has sparked various reactions, with some praising the potential economic benefits and others expressing concerns about the implications of allowing wealthy individuals to essentially buy their way into the U.S. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google…

The Nigerian currency, the naira, has continued its appreciation against the US dollar across both official and black markets. This trend has been observed over the past few days, reflecting a positive shift in the value of the naira. Official Market At the official market, the naira strengthened to ₦1,495.91 per dollar on Tuesday, February 25, 2025, compared to ₦1,497.11 per dollar on Monday. This represents a marginal gain of ₦1.2 against the dollar. Black Market In the parallel (black) market, the naira appreciated to ₦1,485 per dollar on Tuesday from ₦1,500 per dollar on Monday. This means the naira…

Nigeria’s equity market extended its downward trend on Tuesday, as the market capitalisation of listed equities recorded N215 billion or 0.32 percent losses. This is the case as the market capitalisation, which opened at N67.383 trillion, closed at N67.168 trillion. The All-Share Index also declined by 0.32 percent to 107,781.79, against 108,126.97 recorded on Monday. However, the Year-To-Date (YTD) return rose to 4.72 percent. The market breadth also closed negative with 49 losers and 13 gainers. On the losers table, Honeywell Flour led by 10 percent to close at N1.25 per share, while Smart Products Nigeria (SMURFIT) led the gainers…

Renowned human rights lawyer, Femi Falana, has announced his intention to take former Head of State, General Ibrahim Babangida (rtd), to court over alleged human rights abuses. This decision follows the recent release of Babangida’s autobiography, “A Journey in Service,” in which he admitted to regretting the annulment of the June 12, 1993, presidential election. Background The June 12, 1993, presidential election, widely regarded as one of the freest and fairest in Nigeria’s history, was won by Chief Moshood Kashimawo Olawale (MKO) Abiola. However, the election results were annulled by Babangida, leading to widespread protests and political unrest. Falana, along…