FEATURES
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Alexandr Wang, 26 years old, tops the list of the youngest self-made billionaires generating a net worth of $1 billion.
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Pedro Franceschi, aged 27, takes the second spot on the list with a net worth of $1.5 billion.
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8 of the 10 billionaires on the list do not have college degrees.
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Only two female singers, Rihanna, and Taylor Swift, made to the list of the youngest self-made billionaires; the rest are males from the tech industry.
Stanford University has produced the majority of the youngest self-made billionaires since 6 out of 10 billionaires on the list have studied there for at least a year before becoming billionaires.
A study conducted by an Online Gaming company identified the top 10 youngest self-made billionaires in 2024. The research used data from Forbes, Bloomberg, and various official financial news websites to rank the youngest billionaires. In addition, the research touches upon the industries and primary income sources for these billionaires, as well as provides information about their education and backgrounds.
Pedro Franceschi, aged 27, takes the second spot on the list with a net worth of $1.5 billion. Similar to Alexandr Wang, Pedro Franceschi also decided to drop out of Stanford University and establish Brex, a fintech company he co-founded with a friend.
Austin Russell, aged 28, is the fourth youngest self-made billionaire on the list, with a net worth of $1.6 billion. Like Franceschi and Dubugras, Austin Russell is also a Stanford University dropout. Following his company Luminar Technologies’ listing on Nasdaq, Russell became a self-made billionaire at age 25.
Ryan Breslow, at 30 years of age, ranks as the fifth youngest self-made billionaire, possessing a net worth of $1.1 billion. Similar to the above three billionaires, Breslov also dropped out of Stanford to launch payment startup Bolt, which made him a billionaire.
John Collison, aged 33, takes the eighth place on the list with a net worth of $5.5 billion, which makes him the richest self-made billionaire on the list. Being a dropout, John Collison is the co-founder and president of Stripe.
Rihanna, aged 35, closes the list of the youngest self-made billionaires with a net worth of $1.4 billion. She is the only other female singer on the list, except Taylor Swift. This R&B superstar also never went to college, and her main sources of income are her music career and her brands Fenty Beauty and Savage X Fenty.
Self-made billionaires
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Age
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Net Worth
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Education
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John Collison
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33
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5.5 billion
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Drop Out, Harvard University
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Alex Atallah
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31
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2.2 billion
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Bachelor of Arts/Science, Stanford University
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Pedro Franceschi
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27
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1.5 billion
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Drop Out, Stanford University
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Stanley Tang
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32
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1.3 billion
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Bachelor of Arts/Science, Stanford University
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Andy Fang
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32
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1.2 billion
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Bachelor of Arts/Science, Stanford University
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Taylor Swift
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34
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1.1 billion
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No Degree
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Ryan Breslow
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30
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1.1 billion
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Drop Out, Stanford University
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Austin Russel
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28
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1,6 billion
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Drop Out, Stanford University
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Henrique Dubugras
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28
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1,5 billion
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Drop Out, Stanford University
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Alexandr Wang
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26
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1 billion
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Drop Out, Massachusetts Institute of Technology
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A Pastor of the Redeemed Christian Church of God, Emmanuel Orekoya, was on Tuesday, Feb. 27, arraigned before the Ikeja Sexual Offences and Domestic Violence Court for allegedly raping and impregnating his 17- year-old daughter.
The defendant is facing two counts of unlawful sexual intercourse and sexual assault preferred against him by the Lagos State Government.
Back in Nov. 2022, a video that went viral purportedly showed the daughter of pastor Orekoya Emanuel of RCCG Wisdom Tabernacle Parish Lawason Lagos, alleging that her biological father slept with her for over 2 years, with the knowledge of her mother.
It was also gathered that the defendant, while having sexual intercourse with his daughter, allegedly impregnated her.
On Tuesday, Feb. 27, the state’s prosecution counsel, Mrs Abimbola Abolade, told the court that the defendant committed the offences sometime in 2017 at Jacob Adeleye Street, Odoeran, Itire area of the state.
The prosecutor also told the court that Orekoya sexually assaulted the victim, by inserting his finger inside her vagina and inserting his penis inside her mouth.
According to the prosecutor, the offences Orekoya committed contravened Section 137 of the criminal law of Lagos State 2015.
However, the defendant pleaded not guilty to the charges against him.
Justice Soladoye adjourned the case till April 17, 2024, for the commencement of trial.
The Central Bank of Nigeria, CBN, has issued an Exposure Draft of the Risk-based Cyber Cyber-security Framework and Guidelines for Deposit Money Banks, DMBs and Payment Service Banks, PSBs, in a bid to manage technology platforms and infrastructure used in running financial operations in banks and other financial institutions.
The apex bank disclosed this in a letter to all DMBs and PSBs attached to the guidelines and framework signed by the Acting Director of Banking Supervision, CBN, Dr. Adetona Adedeji.
CBN said: “The Nigerian financial system has grown remarkably in recent years with increases in products, services, institutions and stakeholders.
“Financial Institutions have increasingly leveraged Information Technology to serve their customers and this has led to rapid evolution in the threat landscape.
“It is necessary that the technology infrastructure and platforms that support financial institutions operations should be managed effectively to promote a sound financial system.
“Consequently, the CBN has revised the Risk-Based Cyber-security Framework and Guidelines for DMBs and Payment Service Banks (PSBs) to provide guidance in the implementation of cyber-security programmes and enhance resilience.
“The revised framework addresses the gaps that have arisen due to the passage of time and outlines the minimum cyber-security controls to be put in place”.
Nigerian TV personality in the 90 Day Fiancé, Michael Ilesanmi has been declared missing, two months after moving to the United States with his wife, Angela Deem, arriving from Nigeria.
Ilesanmi’s wife, Deem said all her efforts to contact his family in Nigeria have been in futility, as a reward of $10,000 has been placed for his return.
“Michael’s been missing since the 23rd. The police are involved, we can’t find him,” the 58-year-old Angela Deem revealed in a TikTok video on Monday.
The woman also added that her home security cameras failed to pick up his departure, saying he did not go with his belongings.
“Michael left everything here. I know that there’s people (who) probably think, ‘Oh, maybe he just left.’ But like, nothing, not any ID, nothing to show his name on it, no clothing, not a toothbrush. Zero point zero zero,” she said.
“No wallet, nothing. Clothes on his back is what he left with on Friday,” she continued, telling 90 Day Fiancé blogger John Yates and viewers that he “only had like $40 on him.”
“Michael had just gotten here [during] Christmas time,” his exact date of arrival being December 22, 2023.
“If he left on his own, he should have called me. Everybody in this town, I’m gonna tell you, they say, ‘Angela, he’s f–king walked out because he’s got no reason to stay here.’ I don’t want to believe that,” the reality star stated in her video.
She then seemingly questioned their relationship and if she got played once he got to America and disappeared from her rural home in South Georgia.
“But it’s looking like he’s planned this the whole f–king time. This is not funny. This is real s–t. I am not Chantel [Everett]. I am not Daniele [Gates]. I am not Molly [Hopkins]. You’ve got the wrong goddamn American,” Angela continued while naming other popular 90 Day Fiancé franchise stars, adding,” I’m telling you now. I’m not gonna let you f–king come here if you didn’t love me.”
“He’s my husband and I love him and I don’t know where he’s at. As long as he’s safe, just call us. The police are involved. This is beyond what the f–k is going on. You got my four grandkids crying that something’s wrong with you. This is not Karine and Paul [Staehle],” she continued.
“What do I say to these people, because I don’t have no answers? We know he’s deceitful, but I don’t think he would go this far and not call at least my daughter,” Angela added.
Angela turned her attention to fan questions about contacting immigration, telling viewers of her TikTok that she and John are “not allowed” to answer any of their concerns.
You’ll just have to use your common sense, she noted of the immigration inquiries. “If Michael is really missing and doesn’t contact us, immigration can take over. That’s all I can tell you.”
The couple had been looking forward to reuniting in America. Michael said, “We’ve waited three years for the spousal visa interview,” during a confessional in a 90 Day Fiancé: Happily Ever After trailer that dropped on February 14.
Angela agreed, stating, “This is the most important day of our lives. I need to get my man home to America. If that visa’s denied, it’s over.”
The couple’s romance began in 2018 on season 2 of 90 Day Fiancé: Before the 90 Days after meeting online. They started dating long-distance shortly afterward and shared their first in-person meeting that season.
Angela and Michael continued to share their journey on season 3 and season 7 of 90 Day Fiancé and seasons 5, 6 and 7 of 90 Day Fiancé: Happily Ever After? The pair wed in Michael’s native Nigeria in January 2020.
Seeks To Recover Home Bought With Bribe Money
A senior Nigerian National Petroleum Corporation has been slammed with bribery and tax-related charges in the United States, court filings.
A jury recently returned a three-count indictment against Paulinus Iheanacho Okoronkwo after the Federal Bureau of Investigation found that he used his position as a general manager in NNPC’s upstream department to obtain at least $2.1 million in bribes.
The alleged bribe was to assist Addax Petroleum escape its $2.4 billion liability to Nigeria as part of an oil-lifting contract that began in 2001, the January 10, 2024, the grand jury indictment said before the United States District Court for the Central District of California.
Mr Okoronkwo, 67, a dual citizen of Nigeria and the U.S., has practised immigration and personal injury law in California for nearly 30 years. On May 25, 2015, just days before President Goodluck Jonathan was due to exit office on May 29, Mr Okoronkwo and other NNPC officials hurriedly entered into an agreement that would see Addax Petroleum return to developing Nigeria’s crude and gas reserves after a protracted pause due to a yearslong dispute over the 2001 deal between Nigeria and the Chinese firm.
Addax Petroleum, based in Switzerland but owned by Sinopec, bribed Mr Okoronkwo with $5,263,157.89, including an immediate payment of $2,105,263.16, in October 2015 after the new administration of Muhammadu Buhari threatened the May 2015 contract, court documents said. Prosecutors did not immediately say whether or not Mr Okoronkwo received the balance from Addax, which might have been paid through other channels that may or may not pass through the U.S. financial system.
The $2.1 million payment was made via a wire transfer to Mr Okoronkwo’s law firm bank account in the U.S. It was purportedly billed for “Consultants for the negotiation and completion of a Settlement Agreement with NNPC” with respect to Addax’s dispute over drilling rights, prosecutors said in the indictment first alleged before a grand jury in June 2023.
Mr Okoronkwo helped Addax navigate the challenges from the Buhari administration that initially tried to impose a $2.37 billion liability on the Chinese firm, filings said.
“Addax had calculated that the failure to apply the side letter prospectively would cost Addax approximately $2.37 billion,” the indictment said. Mr Okoronkwo was using his U.S. law firm to purportedly represent Nigeria against NNPC, where he was also working as a general manager in charge of crude oil transactions.
Both Mr Okoronkwo and Addax made several efforts to conceal the bribe payment as legitimate, and a senior vice-president of the company was fired on July 13, 2016, for questioning the $2.1 million illicit transaction.
Authorities also filed obstruction and tax-evasion charges against Mr Okoronkwo for lying to investigators about the nature of the deal while also failing to pay taxes on it in his 2016 returns.
Mr Okoronkwo knew the $2,105,263 payment represented a bribe from Addax in exchange for his influencing the NNPC, that the payment did not represent client funds but rather illicit income and the $45,000 in gross income represented in his individual tax return did not include the multimillion-dollar bribe payment he had received, the filings said.
Mr Okoronkwo will be arraigned in the coming weeks and faces up to 10 years in prison upon conviction. A separate forfeiture proceeding was underway to recover Mr Okoronkwo’s ill-gotten yields, including a home he bought in cash for $983,200 in 2017 from the proceeds.
A spokesman for the NNPC did not immediately return a request seeking comments over Mr Okoronkwo’s case, which marked only the latest in a long trail of prosecutions instituted over illegal transactions from Nigeria by U.S. officials in California. The same district had recently confiscated over $6 million from Ara Dolarian, an unlicensed arms dealer who bilked Nigeria to the tune of $12 million in 2014.
Adegoke Fayoade, the commissioner of police in Lagos says its command provided water and biscuits to protesters to prevent collapse.
Fayoade who spoke to NAN in Lagos, said the long distance and hot weather for Nigeria Labour Congress (NLC) protesters, emphasizing the need for at least water and biscuits for participants to ensure a successful protest.
“I provided water and biscuits because I don’t want anyone to collapse on the way. We have to use water to strengthen everybody. That is the least we could do,” he said.
“The protest went on as agreed with the NLC leadership. We promised them protection and we provided such from the beginning to the end.
“The same protection will be provided on Wednesday and I will be part of the operation.”
The commissioner of police pledged to maintain the security of lives and properties and urged residents to provide timely information on crimes to support the police.
He described the protest as peaceful nothing that no one was arrested for any violations during the protest.
Many protesters were seen rushing for the refreshments being distributed from patrol vehicles by police personnel on the way.
The NLC protest is stated to continue on Wednesday
A kidnap kingpin, who has been on the wanted list of the Command for a long time, Samaila Wakili Fafa A.K.A Habu Ibrahim, has been arrested by the FCT Police Command.
Wakili was arrested on February 24, at about 7:05 PM, in a continued effort against banditry in FCT and its environs
The suspect is said to be one of the two kidnappers the Honorable Minister FCT placed a bounty on, as the other one namely Saidu Abdulkadir A.K.A Dahiru Adamu, had earlier been arrested by the Command.
When interrogated, the suspect confessed that his syndicate masterminded and executed several kidnappings in FCT and its environs, including the abduction of Barr. Chris Agidy, the legal aid to Senator. Ned Nwoko and Mr Sunday Yahaya Zakwai, the district head of Ketti Village were later killed by them.
Samaila Wakili further led police operatives to where the remains of Barr. Chris Agidy is. The remains were recovered and deposited in Gwagwalada General Hospital.
Confirming the arrest to newsmen, the spokesperson of the command, SP Josephine Adeh, said while an investigation is still ongoing, the Commissioner of Police FCT, CP Benneth C. Igweh, reiterates his unflinching commitment to combat crime and criminality in all its manifestations and to ensure safety of residents.
He equally urges residents to report suspicious activities through the following emergency lines; 08032003913, 08061581938, 07057337653, and 08028940883; PCB: 09022222352.
I Wanted To Sell It For N2M, Use The Money To Pay House Rent And Bring Back My Estranged Wife - Car Thief Who Stole Toyota Highlander In Borno
Admin
A car snatcher, Ahmed Mohammed, who ran away with his employer's Toyota Highlander in Maiduguri, Borno State, has been arrested by the Bauchi State Police Command.
A Spokesperson of the command, SP Ahmed Mohammed Wakil, who disclosed this in a statement on Tuesday, February 27, 2024, said the suspect stole the car with the intent to sell it at N2m and use the money to pay his house rent and bring back his estranged wife.
According to the PPRO, the suspect was employed as a driver by a company owned by his secondary school classmate in Maiduguri.
“On the 24th February 2024, the operatives of the State Intelligence Department (SID) attached to Bauchi State Police Command acted on Credible Intelligence at their disposal and arrested one Ahmed Mohammed 29yrs 'M' a resident of Polo High-Court, Borno State,” the statement read.
The suspect was arrested at Bayan Gari Area of Bauchi state alongside the stolen vehicle (Toyota Highlander) white in color with registration number ABC-65PK.
A discreet Investigation into the matter has revealed that the suspect was employed as a driver by a company owned by his secondary school classmate called Damuli Investment Company Ltd. in Maiduguri, Borno State.
"It was further uncovered that the accused Ahmed Mohammed fled with the car to Bauchi with with intent to sell it out at the sum of two million Naira (N2.000.000) and use the money to pay his house rent and to welcome his estranged wife back home.
"The Commissioner of Police, CP Auwal Musa Mohammed, psc, has directed that further Investigation be extended to Borno State to explore more motives and unravel every fact behind his action''
A 26-year-old woman, Omorogbe Soni, has been arraigned by the Lagos State Police Command for assault, after she was captured on camera assaulting a policeman in Ajah on February 21, 2024.
The incident occurred when Soni engaged in a heated argument with the policewoman and subsequently pushed her, causing her to fall to the ground.
According to a statement released by the command’s spokesperson, SP Benjamin Hundeyin, on his X account on Tuesday, Soni was presented before the Etiosa Magistrates’ Court in Ajah on February 22, 2024. She has since been remanded in the Kirikiri Female Correctional Centre till the next court sitting scheduled for March 27, 2024.
The statement said, “The Lagos State Police Command has arraigned one Omorogbe Jennifer Soni ‘f’ aged 26 for serious assault after she was caught on camera assaulting a police officer in Ajah on February 21, 2024.
“Omorogbe was arraigned the following day, February 22, 2024, at the Etiosa Magistrate Court, Ajah and has been remanded to the Kirikiri Female Correctional Centre till the next hearing on March 27, 2024.
“The Lagos State Police Command advises Lagosians to remain law-abiding in their day-to-day activities with all and sundry as anyone found guilty of violating the law would be dealt with in accordance with the law.”
Media
Lagos Police Arraign Woman Caught On Camera Assaulting Female Cop
— Punch Newspapers (@MobilePunch) February 27, 2024
A 26-year-old woman, Omorogbe Soni, has been arraigned by the Lagos State Police Command for assault, after she was captured on camera assaulting a policeman in Ajah on February 21, 2024.
The incident occurred… pic.twitter.com/EzsRYT8umn
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The Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, has said that the apex bank was not responsible for the current economic hardship that Nigerians are facing, even as he said that the country does not have the opportunity of making a wrong turn.
Cardoso, while answering a question posed to him by LEADERSHIP at the end of the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, absolved the CBN of any culpability in the current economic woes of the country.
Currently, inflation figures are on the brink of 30 per cent with food inflation nearing 40 per cent. This is coupled with a highly volatile exchange rate that had seen the value of the Naira plummeted to N2,000 to a dollar in recent times.
The CBN governor expressly stated that, “We at the CBN are not responsible for the woes of today. We are part of the solution and are determined to work to get out of the mess that the country is in.
“We assumed responsibility at a time that there was crisis of confidence. We cannot turn back the clock. All we can do is to do the difficult things to make a bad situation better.”
Seasoned actor Charles Inojie has announced the end of the hit family show, The Johnsons.
Sharing the news via his Instagram page on Tuesday morning, he penned a heartfelt message to the cast and crew of the show.
Inojie also noted how it has been 13 years of absolute magic and awesomeness, being Africa’s most-watched show on television and being everyone’s family favourite.
He expressed gratitude to the organisers of the show for the privilege to play the role of Lucky Johnson, the patriarch of the show.
He also appreciated the fans for their love and support as well as the crew and cast.
His post reads: “THANK YOU, AFRICA. After 13 years of absolute magic, 13 years of awesomeness, 13 years of being Africa’s most-watched show on television, and 13 years of being every family’s favourite, THE JOHNSONS is finally taking a bow.
“I want to use this medium to say a big thank you to @rogers.ofime @officialthejohnsonsfamily @nativemediatv__ @africamagic for the privilege of being #luckyjohnson
“I thank my co-travellers, the wonderful team of cast and crew, without whom these past 13 years could not have been spectacularly outstanding as THE JOHNSONS made it.
“I am immensely grateful to our fans across the African continent for the love and support we got unconditionally.
“Indeed, while it is the beginning of greater exploits from every individual member of the team, like every good thing that must have a terminal point, it is the end of the road for THE JOHNSONS. THANK YOU”.
[NaijaTimes]
The apex Igbo socio-cultural organization, Ohanaeze Ndigbo has vowed to reject any coup d’etat against President Bola Tinubu.
The group stated this on Tuesday via a statement by its factional Secretary-General, Okechukwu Isiguzoro.
The secretary assured Tinubu of Ohanaeze’s allegiance.
He noted that the body has unwavering faith in the president’s administration and democracy.
Ohanaeze’s statement is coming against the backdrop of reported attempted coup on Tinubu’s administration due to the current economic hardship.
The statement read, “We pledge steadfast allegiance to the democratically elected Federal government under President Bola Ahmed Tinubu’s leadership. Ndigbo has shown unwavering faith in his administration despite attempts to instigate Igbo protests against Tinubu.
“This message serves as a firm condemnation of coup rumours and a stark warning to those spreading disunity, discord, and disruption – elements who fuel hardship and economic sabotage.
“Supporting Tinubu’s success stands as a crucial interest for Ndigbo, known for their self-reliance and resilience. Past periods of political instability saw Ndigbo unfairly targeted, leading to dire consequences.
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“Any disruption in governance is likely to usher in an era of anarchy and chaos, exacerbating the already dire situation faced by the Nigerian populace.”
In a show of solidarity with the working class, Oyo State Governor, Seyi Makinde, joined members of the Nigeria Labour Congress (NLC) in their peaceful protest on Tuesday.
Amidst the nationwide outcry over economic hardship and rising inflation, Makinde’s participation in the protest underscores his administration’s commitment to addressing the concerns of the populace.
The demonstration, organized by the state chapter of the NLC, saw a large turnout of workers who commenced their march from the NLC state secretariat in Agodi, Ibadan.
The procession moved through key points in the city, including Gate, NTA, and Yemetu roundabout, where Governor Makinde met up with the protesters.
Addressing the demonstrators, Governor Makinde offered words of reassurance, affirming that the government is acutely aware of the challenges faced by the citizens and is actively working towards alleviating their plight.
He emphasized that the current economic difficulties are temporary and that concerted efforts are being made to ensure a swift recovery.
The governor said, “I am aware of the hardship in town and the difficulty the people are going through but I will be part of the generation that will fix the country.”
He also assured the workers that their letters of protest and complaints would be delivered to President Bola Tinubu.
The state NLC Chairman, Kayode Martins, earlier said the cost of living was no longer bearable, especially for the common man.
He said, “The cost of living in Nigeria today is nothing to write home and the people are fed up, so that’s why we are on the street now.”