FEATURES
Lawyer and model Doris Esiokhayamhe Ogah from the south-south region, on Thursday night, December 19, 2024, won the 45th Miss Nigeria pageant.
The event, which took place at the Royal Box Event Centre in Victoria Island, Lagos, featured 20 semi-finalists who were unveiled on Tuesday.
The contestants went through various stages, showcasing their cultural heritage.
Ogah defeated four other finalists — Ann Eneanya, Divine Nelson, Bukunmi Ogunsanya, and Diane Paul — to secure the prestigious award.
Shatu Garko, the 44th Miss Nigeria, thereafter crowned Ogah as her successor.
Speaking after the feat, Ogah described her participation in the pageant as “an honour”. She also expressed gratitude to the organisers for turning her dream into reality. The 26 year old 45th Miss Nigeria wrote in an earlier Instagram post:
“My name is Doris Esiokhayamhe Ogah, and I am honored to proudly represent the South-South Geopolitical Zone in this year’s Miss Nigeria pageant.”
“It’s been a lifelong dream of mine to be given the opportunity to serve as an example to inspire and empower countless women and girls around the world,”.
President Bola Tinubu has cancelled all his official events in Lagos today in honour of the stampede victims in the Federal Capital Territory (FCT) and Anambra state.
Naija News reported that 10 people, including children, died in a stampede that occurred at the Holy Trinity Catholic Church in Maitama, Abuja, while no fewer than 20 residents of the Okija community in Anambra lost their lives in a stampede during an event for the distribution of rice on Saturday morning.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement on Saturday, said Tinubu cancelled his scheduled events despite the presence of dignitaries and top officials already at the venue of the event.
While commiserating with the victims of the unfortunate incidents in Anambra and the FCT, Tinubu urged states and relevant authorities to enforce strict crowd control measures immediately.
The statement added, “President Tinubu was scheduled to watch the boat parade and other activities of the Boat Regatta from the waterfront of his Queen’s Drive residence in Ikoyi.
“Dignitaries, including top officials of the Lagos State government and white cap chiefs from the State, were already seated when the President cancelled his appearance following briefings on the tragedies.
“He noted that it was very disturbing that the events at the Holy Trinity Catholic Church in Maitama, Abuja, and a community Centre in Okija, Anambra State, bore a distressing resemblance to the recent incident in Ibadan, Oyo State.
“He said local and state authorities should no longer tolerate operational lapses by organisations and corporate bodies involved in charitable and humanitarian activities.
“While praying for the peaceful repose of innocent Nigerians who died in the stampede, President Tinubu wished a quick recovery to the injured.
“He reiterated that these mishaps are avoidable if event planners adhere to necessary safeguards and protocols to ensure pre- and post-event safety.
”In a season of joy and celebration, we grieve with fellow citizens mourning the painful losses of their loved ones. Our prayers of divine comfort and healing are with them.
“The President wished the Lagos State government, organisers of the Boat Regatta, themed ”Our Water, Our Heritage, Our Life,” a successful and hitch-free festival.”
he All Progressives Congress, APC, National Secretary, Ajibola Bashiru, has slammed the Labour Party (LP) presidential candidate in the 2023 election, Peter Obi, over his comment on the Oyo, Anambra States and the Federal Capital Territory (FCT) Stampedes.
Recalls that tragedy struck at the Islamic High School, Bashorun, Ibadan, the Oyo State capital, on Wednesday during a funfair organized by the ex-wife of the Ooni of Ife, Naomi Shikemi.
On Thursday, the Oyo State Police Command confirmed 35 persons dead while six others were still in critical condition.
However, reports emerged on Friday indicating that the death toll had hit 40 while many are still hospitalized.
A similar incident also happened in Anambra and FCT during the sharing of Christmas palliative.
Reacting via a post on X, Peter Obi described the tragic death of the children as evidence of a systemic failure in Nigeria.
Obi said the fatal outcome of the event exposed the harsh realities in Nigeria where children out of inequalities are exposed to such danger scrambling for mere Christmas gifts.
Faulting the remark, Bashiru accused Peter Obi of playing politics with the tragic incidents.
He wrote, “@PeterObi is consistently inconsistent. I would have been disappointed if he did not try to play politics with the tragic incident.”
Former U.S. President, Barack Obama has unveiled his annual music playlist, and two Nigerian artists—Rema and Asake—made the list.
In a post via his X page (formerly Twitter) on Saturday, the playlist features 24 songs from various genres.
Rema’s “Yayo” and Asake’s “Active” featuring Travis Scott are the only Nigerian songs on the list this year.
“Yayo” was also featured on Obama’s 2024 summer playlist.
In his post, Obama encouraged his followers to dive into the curated tracks and share their own recommendations.
“Here are my favourite songs from this year! Check them out if you’re looking to shake up your playlist – and let me know if there’s a song or artist I should make sure to listen to,” he wrote.
Meanwhile, the list includes Tyla’s “Jump”, Leon Bridges’ “Peaceful Place”, Bi’s “Lunch”, Bae Kalil’s “Is It Worth It”, and The Red Clay Strays’ “Rablin”.
In 2019, Burna Boy and Rema were included in Obama’s year-end playlist.
Wizkid and Tems’ hit collaboration “Essence” made the 2020 list. In 2022, Burna Boy’s “Last Last” and Rema’s “Calm Down” also earned spots.
Last year, songs by Davido, Tems, Burna Boy, and Asake were featured prominently.
Obama started the tradition of curating annual playlists during his presidency, when he partnered with Spotify to share his musical picks with the world.
Media
Here are my favorite songs from this year! Check them out if you’re looking to shake up your playlist – and let me know if there’s a song or artist I should make sure to listen to. pic.twitter.com/MK51Z77uEb
— Barack Obama (@BarackObama) December 21, 2024
The Nigerian National Petroleum Company Limited (NNPCL) has confirmed that the 60,000 barrels per day (bpd) capacity Port Harcourt Refinery remains fully operational, despite circulating media reports suggesting otherwise.
The refinery, which resumed operations in November 2024 after an extensive rehabilitation, is contributing significantly to enhancing domestic supply.
However, according to an earlier report by The PUNCH, the cessation of petrol lifting particularly occurred on Friday, December 13, as the 18-arm loading bay of the new Port Harcourt refinery was found to be vacant.
While approximately 18 trucks were observed along the busy road leading to the refinery, journalists who visited the refinery noted that nine trucks were parked within the yard, and the loading bay remained empty.
Meanwhile, NNPCL’s Chief Corporate Communications Officer, Olufemi O. Soneye, has dismissed these claims, stating that the refinery is indeed fully operational and loading operations are proceeding as scheduled.
Soneye clarified, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.
“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC. Preparation for the day’s loading operation is currently ongoing.”
In one year, the Independent Corrupt Practices and Other Related Crimes Commission (ICPC) has intercepted and recovered the sum of N30 billion meant for constituency projects.
The anti-graft agency made the recoveries from items listed in the budget which were reportedly diverted by some lawmakers.
They were uncovered under the Constituency and Executive Projects Tracking Initiative (CEPTI) phase 7, 2024 which was carried out between December 2023 and December 2024.
The initiative, which was launched in 2015, tracks the implementation and performance of constituency projects to promote accountability.
The focus areas are education, empowerment and capacity building, health, water resources, agriculture, road infrastructure, and power.
LEADERSHIP Weekend discovered that the ICPC tracked a total of 1,500 projects in 22 states during the period under review.
Of the total project value of N610 billion, the ICPC saved N30 billion, recovered N360 million in cash and assets worth N400 million.
In the area of Ethics and Integrity Compliance Scorecard (EICS), which is a yearly programme of the ICPC, it rated the Joint Admissions and Matriculation Board (JAMB), the Nigerian Railway Corporation (NRC), and the Nigerian Bulk Electricity Trading Plc (NBET) as the lead in its 2024 assessment.
While JAMB achieved 89.75 per cent compliance, the NRC attained 89.33 per cent and NBET 88.73 per cent.
These were part of the ICPC report released during a press conference on Thursday, detailing the assessment of 330 Ministries, Departments, and Agencies (MDAs) in the country to evaluate their ethical standards, anti-corruption measures, and governance practices.
The assessment focused on key ndicators such as governance and executive management practices, finance and auditing processes, as well as policies, ethics education, and whistle-blowing mechanisms.
The report also showed that the Supreme Court of Nigeria, Abuja, Nigeria Press Council (NPC), Legal Aid Council (LAC), Abuja, National Hajj Commission of Nigeria (NAHCON), and Federal Civil Service Commission (FCSC), Abuja, scored zero points in the evaluation – which implied non-compliance.
Similarly, tertiary schools such as the Federal University of Agriculture, Umudike in Abia State; Federal College of Forestry Mechanisation (FFM) in Mando, Kaduna State; Obafemi Awolowo University (OAU) in Ile-Ife, Osun State; Federal Polytechnic Ede (FPE) in Ede, Osun State, and the University of Ibadan (UI) in Ibadan, Oyo State, were also among those at the bottom of the list.
ICPC spokesperson, Demola Bakare, while briefing the press, said the EICS was designed to enhance the transparency, accountability, and integrity of government institutions, ultimately contributing to the fight against corruption.
He said that the commission will continue to recognise and reward MDAs with substantial compliance, while also holding non-compliant institutions accountable through enforcement actions.
While asserting that the commission will continue deploying these tools to promote integrity and accountability, he warned that non-compliant MDAs will face necessary actions, including enforcement, to ensure adherence to government directives.
“We are certain that these efforts will continue to underline ICPC’s dedication to enhancing good governance and preventing corruption,” he said.
Meanwhile, in general the ICPC recovered a total of N53.1billion in cash and assets in the past one year.
A breakdown of the recovery showed that N29.700 billion was recovered in cash and domiciled in ICPC recovery accounts; N10.986 billion VAT recovered and remitted to Federal Inland Revenue Service (FIRS); N10 billion Covid-19 vaccine fund meant for production of vaccine recovered and remitted to the treasury and assets valued at N2.5billion also recovered.
The ICPC chairman, Dr. Musa Aliyu, while speaking on the general recoveries, said the agency recovered foreign currency of about $966,900.83 in the past one year.
Dr Aliyu explained that the funds were intercepted while conducting Systems Study and Review (SSR) for 323 ministries, departments, and agencies (MDAs) of government.
According to him, “As part of its commitment to institutional accountability, the commission assessed 323 MDAs through its Ethics and Integrity Compliance Scorecard (EICS).
“It also established 80 Anti-Corruption and Transparency Units (ACTUs) across MDAs to reinforce its anti-corruption efforts. While doing these, the commission stopped the diversion of public funds to the tune of N5.882 billion.”
The ICPC boss further disclosed that the organisation had processed 851 petitions, with 342 assigned for investigation, 95 fully investigated, 72 cases filed in court, and 16 convictions secured in the past one year.
While speaking on plans to get faster prosecution of cases, Aliyu said, “In this regard, we are streamlining our processes to ensure faster and more effective prosecution of cases, leading to the resuscitation of 10-15-year-old cases in courts. We have also advanced the fight against sexual harassment and corruption in educational institutions and public offices, achieving ongoing prosecutions and increased public support.”
CSOs Want Perpetrators Sanctioned
Meanwhile, some civil society organisations have called for sanctions against people caught diverting constituency projects.
The convener of the Coalition of Anti-corruption Group, Martins Udeh said anyone caught diverting project funds for personal gains should be jailed.
For his part, the chairman of Transparency Organisation Network Nigeria, Philip Ajah, said Nigeria’s need to publicly name, shame and prosecute all those involved in constituency projects diversion.
The wrestling community is reflecting on the life and legacy of Mexican icon Miguel Ángel López Días, known as Rey Misterio Sr., who sadly passed away on December 20, 2024, at age 66.
His son, WWE superstar Rey Misterio Jr., announced via social media, sharing a heartfelt message: “Friends and family, I’m sad to share that my father, Miguel Ángel López Días, Rey Misterio Sr., passed away this morning… more updates to come. Thank you.”
This news has prompted an outpouring of tributes from fans, fellow wrestlers, and friends, highlighting the remarkable contributions Rey Misterio Sr. made to the wrestling industry.
Lucha Libre AAA Worldwide, a major Mexican wrestling promotion where Rey Misterio Sr. left an enduring mark, expressed its condolences through a post on X (formerly Twitter), stating:
“We are saddened by the passing of Miguel Ángel López Días, known as Rey Misterio Sr. We extend our sincerest condolences to his loved ones and keep him in our thoughts for his eternal rest.”
Rey Misterio Sr. was a pivotal figure not just in Mexican Lucha Libre but also in advancing the global recognition of the sport. Known for his innovative high-flying wrestling style, he established a connection with audiences worldwide. He gained fame in Mexico through top promotions like the World Wrestling Association (WWA) and Lucha Libre AAA Worldwide.
His influence reached beyond Mexican borders; he was one of the trailblazers of Lucha Libre in the United States, making appearances in World Championship Wrestling (WCW). He participated in significant events, including the 1990 Starrcade and the Pat O’Connor Memorial International Cup tournament, alongside Konnan, and made a notable impact in these competitions.
In addition to his in-ring achievements, Rey Misterio Sr. was deeply committed to mentoring aspiring wrestlers. His nephew, Rey Mysterio Jr., has often conveyed his gratitude for the pivotal role his uncle played in shaping his career. Rey Mysterio Jr. credits his uncle with not only bestowing his iconic ring name but also training him alongside other legends of Mexican wrestling, including Psicosis, Halloween, and Konnan.
Before his wrestling career, Rey Misterio Sr. had a background in boxing. After an arm injury, his trainers encouraged him to pursue professional wrestling, leading to his debut on January 6, 1976, during a special Day of Kings event.
Over the years, he became an integral part of the Mexican wrestling scene, known for his performances and his unwavering dedication to nurturing young talent.
Throughout his extensive career, Rey Misterio Sr. garnered numerous titles and accolades, solidifying his standing as one of the most influential figures in the history of Mexican wrestling. He was more than just a competitor; he co-founded a gym dedicated to training aspiring wrestlers, blending skill, passion, and mentorship to ensure the growth and evolution of Lucha Libre.
While the cause of Rey Misterio Sr.’s passing remains undisclosed, the love and support from fans and wrestling organizations underscore the profound impact he had on the wrestling world.
The National Security Adviser (NSA), Malam Nuhu Ribadu, has said the security agencies recorded 80 per cent success against kidnapping in two years.
Ribadu stated this at the official inauguration of the Multi-Agency Kidnap Fusion Cell (MAAKFC) on Thursday in Abuja.
“Within a short period of time, I can say less than two years, we are getting 80 per cent successes, but we do not talk about it,” he said.
This is despite a report by the National Bureau of Statistics (NBS) that Nigerians paid a ransom of over N2.2 trillion in the year 2024. According to the report, 2.2 million Nigerians were kidnapped, while 614,937 were killed in the same year.
However, Ribadu admitted that kidnapping was the most worrisome threat in Nigeria and globally.
He said the commissioning of the Multi-Agency Anti-Kidnap Fusion Cell (MAAKFC) was a significant step forward in the nation’s collective fight against one of the gravest security challenges we face: ‘kidnapping’.
“As we all know, kidnapping remains one of the most pressing security threats in Nigeria today. It has caused untold hardship for countless families, disrupted economic activities, and posed a severe threat to our national stability. This menace demands a robust, multi-agency approach, which the Multi-Agency Anti-Kidnap Fusion Cell embodies.”
He charged members of the cell to leverage their knowledge and expertise to ensure Nigerians are protected and feel safe.
“The training and resources you received have prepared you for this critical task, and I expect nothing but professionalism, dedication, and innovation in your work. Embrace synergy, leverage the knowledge you have acquired, and ensure that this Cell fulfils its mission to protect our people and communities,” he added.
The National Coordinator, National Counter Terrorism Center Office of the National Adviser (NCTC-ONSA), Major General Adamu Laka, said the establishment of the Multi-Agency Fusion Cell was a result of the Security Defence Partnership (SDP) Dialogue signed between the National Security Advisers of Nigeria and the United Kingdom in 2022 in a bid to stem the rising spate of kidnapping in the country.
Laka said that between 2022 and 2024, the United Kingdom, through the National Crime Agency (NCA), partnered with the Office of the National Security Adviser to provide capacity-building exercises as well as support to the National Counter-Terrorism Center in a bid to set up a kidnap fusion centre.
He added that the output of this partnership led to a multi-agency approach, with over 15 law enforcement agencies and stakeholders working together to fight kidnapping in Nigeria.
General Laka further said that the United Kingdom and Nigeria enjoyed a deep and long-standing security and defence relationship, underpinned by shared history, mutual trust, and shared Commonwealth principles of democratic governance and respect for international humanitarian and human rights law.
This is in addition to a shared desire to support regional and international peace and security, hence the inaugural UK-Nigeria SDP Dialogue signed by the two National Security Advisors of the two countries between January 31 and February 2, 2022.
The National Coordinator commended all the law enforcement agencies for working together to build capacity for the fusion cell, as well as the efforts in putting together Terms of Reference and Standard Operating Procedures to guide the activities of the cell.
He, however, emphasised that the fusion cell is a 24/7 coordination centre and not an operational outfit that could duplicate efforts.
While giving a background on the Security Defence Partnership, NCA Operations Manager, Chris Grimson, thanked the Nigerian government for the partnership and stressed the importance of having solutions tailored to the needs of Nigeria and implemented by Nigerians.
The fusion cell is housed in the National Counter-Terrorism Centre, Office of the National Security Adviser, and is supported by the National Crime Agency of the United Kingdom
Christmas: Chicken now costs N25,000 while turkey costs N130,000 as price of other basic food items skyrocket
AFOLABIAhead of the Christmas and New Year festivities, costs of basic food items have skyrocketed, raising apprehension among Nigerians, Daily Trust report.
This is as many civil servants, who spoke to our correspondents in different states of the country, said celebrations would be low-key.
Many of them also that said they were awaiting their December salaries.
Checks by Daily Trust in major markets showed a sharp rise in prices of chickens, turkeys, cows, groundnut oil and other commodities.
This is amidst the cost of living crisis in the country, which is believed to have been triggered by the present administration’s policies of petrol subsidy removal and currency floating.
The latest report from the National Bureau of Statistics (NBS) showed Nigeria’s headline inflation increasing to 34.60 per cent in the month of November.
For food inflation, the NBS said it increased to 39.93 per cent on a year-on-year basis, 7.08 per cent points higher than the rate recorded in November 2023 (32.84 per cent).
Checks by our reporters in markets in parts of the country showed that price of turkey has increased by 30 per cent compared to what it was around this time last year.
At Utako and Wuse markets in Abuja, the price of local turkey ranged from N85, 000 to N130, 000 depending on the size; and that of “agric” turkey, from N110, 000 to N140, 000.
Some of the sellers attributed the hike to high cost of transportation and feeding.
In Plateau State, a seller of chickens and turkeys at the Railway Market, Ibrahim Musa, said: “We have prices ranging from N8, 000 to N25, 000 for chickens; while turkeys cost between N70, 000 and N110,000. The current prices are discouraging people from buying, resulting in low patronage. Even during peak season when we expect a huge market, sales are slow.”
At the New Market, sellers of groundnut oil also confirmed the price increase. One of them, Abba Shehu, said: “A five-litre gallon costs N18, 000. We were informed that the increase in groundnut prices is the reason for the surge in oil prices.”
According to the chairman of the Cattle Market in Jos, Malam Rabiu Muhammad, the price of cows is also very expensive.
He said, “At the moment, we have cows selling for N1.5 million in the market. The price ranges from N700, 000 to N1.5 million, depending on the size. The price is really affecting the market.”
At the Wadata and Modern markets in Makurdi, Benue State, a chicken sells for between N15,000 and N22,000; and turkey, N65,000.
A four-litre bottle of cooking oil is not N19,000 and N22,000, depending on the brand.
A civil servant in the state, Olije Edward, said the thought of celebrating Christmas is bittersweet as her entire salary could barely buy a turkey or three modest chickens.
She asked: “How can we celebrate properly when everything is this expensive? What should be a season of celebration has instead become a period of anxiety for many families like mine in Benue who are forced to stretch their limited resources even further.”
At major markets in Agege and Mushin, Lagos, prices of chickens, turkeys and groundnut oil have equally gone up, with a cow selling for as much as between N1 million and N1.5 million depending on the size; chicken, between N13,000 and N15,000; groundnut oil (King) of 25kg, N100,000 and Golden terra, N95,000.
In Bayelsa, the rising costs of chicken, turkey, groundnut oil, goats and other food items are making residents to consider a low-key Christmas and New Year celebrations.
At Swali Market in Yenagoa, a turkey goes for N65,000; chicken, N25,000, five litres of groundnut oil, N25,000 and goat, between N80,000 and N90,000, depending on the size.
A civil servant in the state, who identified herself as Ebitare, said: “Things are very costly in the market, even the N80, 000 minimum wage promised by the government is not yet paid, we are still expecting it, because the government promised to start paying from this month.
“We don’t even know how to celebrate this Christmas, but anyhow it is, we will adopt low-key celebration, the most important thing is that God has preserved our lives to see another Christmas and we will still continue to celebrate more Christmas.”
Dr, Muda Yusuf, an economist and Chief Executive Officer, Centre for the Promotion of Private Enterprises (CPPE), commented on the situation, saying “Energy cost is an issue, transportation cost is an issue.
“Also, there is the issue of insecurity which has affected farming activities. Many of our farmers have been displaced. Many of them have abandoned their farms. The way we also manage our fiscal deficit is important. The level of borrowing is heating up the economy,” he said.
In a landmark moment for Africa’s creative and tech industries, Singapore’s TSC Global and Nigeria’s Del-York Group have signed a $4.5 billion joint venture agreement, marking the largest investment in Africa’s creative sector to date. The signing ceremony, held in Singapore and attended virtually by Lagos State Governor, His Excellency Babajide Sanwo-Olu, heralds the development of Lagos Film City (Kebulania), a project poised to position Lagos as a global hub for film, media, and technology.
“Lagos Film City (Kebulania) represents Lagos State’s vision for creative excellence and technological innovation,” remarked Sanwo-Olu. “This investment will transform our creative landscape while creating groundbreaking opportunities for our talented youth. This development demonstrates our commitment to positioning Lagos as Africa’s premier creative capital.” He credited Nigeria’s President Bola Tinubu’s leadership and the state’s Creative Industry Policy for facilitating this transformative partnership.
Under the new partnership, TSC Global will bring its expertise in sustainable, high-performance technical infrastructure, an area where the company is known globally. Linus Idahosa, CEO of Del-York Group, serves as the lead developer of the project and is dedicated to building ecosystems that fuel Africa’s creative industry. A Memorandum of Understanding was signed with the Lagos State Government in 2022, and a groundbreaking ceremony was held at the Epe site last year. Architectural work will begin in early 2025, followed by construction in the second quarter.
“Today marks Africa’s emphatic entry into global creative and technological leadership,” said Idahosa at the signing ceremony.
“Kebulania stands as a testament to what is possible when visionary leadership at both national and state levels creates an enabling environment for transformative investments. With the unwavering support of the Lagos State Government, alongside our partners, we are building more than an infrastructure – we are creating a legacy that will empower generations of African creators and innovators.”
Michael Dickerson, CEO of TSC Global, highlighted the strategic significance: ‘Our $4.5 billion Joint Venture bridges Africa and the world, creating unparalleled opportunities for creative and technological collaboration between continents. Together with the Del-York Group, we are creating a new model for creative industry development that will resonate globally.”
The Kebulania project is expected to generate over 10,000 direct jobs and 25,000 indirect employment opportunities, contributing more than $3.5 billion annually to Nigeria’s creative economy. It will also offer 50,000 training positions and boost foreign exchange earnings through international film and media productions.
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Tragedy strikes as stampede claims 10 lives, many injured during palliative distribution in Abuja
AFOLABIA minimum of 10 people, including children, are feared dead, with several others injured following a stampede at the Holy Trinity Catholic Church in Maitama, Abuja, on the morning of Saturday, December 21.
The chaos unfolded as thousands of residents rushed to collect palliatives being distributed by the church.
The event, intended to provide relief to struggling community members, attracted over 3,000 people, mainly from Mpape, Gishiri Village, and surrounding areas.
Padre Mike Nsikak Umoh, the National Director of Social Communications at the Catholic Secretariat of Nigeria, confirmed the tragic incident and announced the suspension of the palliative distribution.
“Yes it’s true but with sketchy details,” Umoh said.
An eyewitness recounted the scene as both chaotic and heartbreaking, with reports indicating that at least seven of the victims were children.
Many attendees had arrived as early as 4:00 AM, eager to secure palliatives.
The stampede took place between 7:00 AM and 8:00 AM when the crowd surged uncontrollably.
“10 people have been reported dead, including children. We just received a call that they have passed on.
“Over 3,000 people came out to receive the palliative. It’s unfortunate. Some of them arrived as early as 4:00 AM. Most of those present were residents of Mpape, Gishiri Village, and other nearby settlements.
“The stampede occurred between 7:00 AM and 8:00 AM. The distribution of palliatives has been suspended indefinitely, and people are dispersing. May God receive the souls of the departed and protect us from harm,” the eyewitness said.
In an effort to regain control, a joint team of police, military, and DSS officers was swiftly deployed to restore order and disperse the crowd.
As security personnel enforced the suspension of the event, the church premises, once filled with anxious attendees, gradually cleared.
This tragedy echoes a similar one that occurred just days earlier in Ibadan, Oyo State, where a stampede at a children’s funfair claimed the lives of at least 35 children and left six others critically injured.
The incident, which took place at the Islamic High School in Bashorun, Ibadan, unfolded when over 5,000 children rushed to collect food and gifts distributed by the organizers.
The Nigerian National Petroleum Company Limited (NNPCL) has slashed the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦1,020 to ₦899 per litre.
This adjustment follows a similar move by the Dangote Refinery, which recently reduced its petrol price to ₦899 per litre.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) confirmed this development in a statement released on Saturday.
Signed by PETROAN’s National Public Relations Officer, Dr. Joseph Obele, the statement referenced a document issued by NNPCL’s Commercial Department detailing the price adjustment under the regional pricing framework.
Marketers will now purchase PMS at ₦899 per litre, aligning with the price set by the Dangote Refinery.
However, buyers sourcing from locations such as Warri, Oghara, Port Harcourt, and Calabar will pay ₦970 per litre.
The statement read, “The Nigerian National Petroleum Company Limited has taken a significant step in response to the competitive impact of deregulation in the downstream sector.
“The company recently reduced the ex-depot price of Premium Motor Spirit from ₦1,020 to ₦899 per litre.
“The price reduction by NNPCL is seen as a response to the competitive impact of deregulation, which has led to increased competition in the downstream sector.”
Dr. Obele noted that the decision demonstrates the growing influence of deregulation on the oil and gas market, fostering increased competition among stakeholders.
He expressed optimism that petrol prices would decline further before the end of January 2025 due to falling crude oil prices globally and the naira’s recent appreciation against the dollar.
He described the current trend as a “price war,” underscoring the benefits of competition and advocating for the full privatization of government-owned refineries to further enhance market efficiency.
Reacting to the development, the National President of PETROAN, Billy Harry, commended the NNPCL for prioritizing affordability during the holiday season.
“The reduction in PMS price by NNPCL is a demonstration of the company’s commitment to making petroleum products more affordable for Nigerians.
“We commend NNPCL for responding to our call for affordable PMS prices,” Harry said.
He highlighted key benefits for consumers: “Reduced transportation costs: With lower PMS prices, motorists will spend less on fuel, leading to increased disposable income.
“Increased economic activity: Lower fuel prices will stimulate economic growth by reducing production costs and increasing demand for goods and services.
“Improved standard of living: The price reduction will lead to a decrease in the cost of living, enabling Nigerians to afford necessities and enjoy a better quality of life.”
Harry also applauded Dangote Refinery for its earlier price cut, crediting it with driving healthy competition in the downstream sector.
While praising the benefits of competitive pricing, PETROAN raised concerns about potential risks to product quality.
Dr. Obele urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to enforce strict quality assurance measures to protect consumers.
“PETROAN is calling on the Nigerian Midstream and Downstream Petroleum Regulatory Authority to ensure compliance with quality assurance standards which may arise due to competitive pricing,” he warned.
Meanwhile, NNPCL spokesperson Femi Soneye has yet to confirm this development officially.
[NaijaNews]
The Nigerian National Petroleum Company Limited (NNPCL) has slashed the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦1,020 to ₦899 per litre.
This adjustment follows a similar move by the Dangote Refinery, which recently reduced its petrol price to ₦899 per litre.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) confirmed this development in a statement released on Saturday.
Signed by PETROAN’s National Public Relations Officer, Dr. Joseph Obele, the statement referenced a document issued by NNPCL’s Commercial Department detailing the price adjustment under the regional pricing framework.
Marketers will now purchase PMS at ₦899 per litre, aligning with the price set by the Dangote Refinery.
However, buyers sourcing from locations such as Warri, Oghara, Port Harcourt, and Calabar will pay ₦970 per litre.
The statement read, “The Nigerian National Petroleum Company Limited has taken a significant step in response to the competitive impact of deregulation in the downstream sector.
“The company recently reduced the ex-depot price of Premium Motor Spirit from ₦1,020 to ₦899 per litre.
“The price reduction by NNPCL is seen as a response to the competitive impact of deregulation, which has led to increased competition in the downstream sector.”
Dr. Obele noted that the decision demonstrates the growing influence of deregulation on the oil and gas market, fostering increased competition among stakeholders.
He expressed optimism that petrol prices would decline further before the end of January 2025 due to falling crude oil prices globally and the naira’s recent appreciation against the dollar.
He described the current trend as a “price war,” underscoring the benefits of competition and advocating for the full privatization of government-owned refineries to further enhance market efficiency.
Reacting to the development, the National President of PETROAN, Billy Harry, commended the NNPCL for prioritizing affordability during the holiday season.
“The reduction in PMS price by NNPCL is a demonstration of the company’s commitment to making petroleum products more affordable for Nigerians.
“We commend NNPCL for responding to our call for affordable PMS prices,” Harry said.
He highlighted key benefits for consumers: “Reduced transportation costs: With lower PMS prices, motorists will spend less on fuel, leading to increased disposable income.
“Increased economic activity: Lower fuel prices will stimulate economic growth by reducing production costs and increasing demand for goods and services.
“Improved standard of living: The price reduction will lead to a decrease in the cost of living, enabling Nigerians to afford necessities and enjoy a better quality of life.”
Harry also applauded Dangote Refinery for its earlier price cut, crediting it with driving healthy competition in the downstream sector.
While praising the benefits of competitive pricing, PETROAN raised concerns about potential risks to product quality.
Dr. Obele urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to enforce strict quality assurance measures to protect consumers.
“PETROAN is calling on the Nigerian Midstream and Downstream Petroleum Regulatory Authority to ensure compliance with quality assurance standards which may arise due to competitive pricing,” he warned.
Meanwhile, NNPCL spokesperson Femi Soneye has yet to confirm this development officially.
[NaijaNews]
The CEO of Vaneck a $115 billion asset manager said Bitcoin will continue its bullish momentum next year, targeting another uptick to between $150,000 and $170,000
Bitcoin has performed outstandingly in 2024, recording an impressive 124.4% uptrend since this year. Notably, the digital asset’s hefty upsides trounce those of major traditional assets like gold and US stocks.
Meanwhile, a notable market expert has inferred that Bitcoin will continue its impressive run next year. In a recent statement, Jan Van Eck, Vaneck’s chief executive officer, stated that Bitcoin will put in another remarkable performance in 2025.
Bitcoin to $170,000 per Coin
The CEO of the $115 billion asset manager said Bitcoin will continue its bullish momentum next year, targeting another uptick to between $150,000 and $170,000. Furthermore, Van Eck urged market participants to buy Bitcoin and gold as a hedge against fiscal uncertainties.
Meanwhile, his assertions nearly correlate with VanEck’s official Bitcoin forecast for 2025. Last week, the US Bitcoin spot ETF issuer predicted that Bitcoin would hit $180,000 while Ethereum would be worth $6,000.
Bitcoin Drops to $98,000 despite Positive Prediction
Bitcoin the flagship crypto asset dropped to $95,000 yesterday following Data coming from the FOMC on Fed rate cuts. The flagship crypto asset hit its new all time high of $108,372 three days ago but dumped to $95,000 in the 72 hours.
- At the time of the report, Bitcoin has corrected to $98,300 surging by 3.8% in the last 24 hours.
- VanEck CEO’s prediction aligns with an earlier prediction of Bitcoin crossing the $100,000 mark before the end of the year.
- The prediction was made by analysts in November during the Bull run but the crypto asset failed to breach the psychological barrier that month.
The long-awaited event occurred in the first week of December with Bitcoin breaching the $100,000 mark to $103,000. The asset surged to $108,000 before slumping to $95,000 three days ago.
Bitcoin price Analysis
Bitcoin is currently exchanging hands for $98,518 surging by 3.8% in the last 24 hours. The crypto asset has dipped by 8.9% from its all-time high with a maximum price of $99,496 and a minimum price of $92,495.
What to Know
- Bitcoin Exchange Traded funds recorded massive outflows on Thursday losing $617 million in just 24 hours. Blackrock’s IBIT the largest Bitcoin ETF by market capitalization recorded no inflows for the day.
- Exchange Traded Funds creates an opportunity for institutional investors to invest in cryptocurrencies without actually owning them. Bitcoin and Ethereum ETFs are the only available Exchange Traded Funds at the moment.
- There are speculations of a Solana and XRP Exchange Traded Funds in the horizon as both crypto assets are the next in line according to the list of top crypto assets by market capitalization.
[Nairametrics]