Author: Opalim Lifted

The African Export-Import Bank (Afreximbank) has underwritten $2.5 billion in a $4 billion syndicated term loan for the Dangote Petroleum Refinery and Petrochemicals, marking a major boost for Africa’s largest refining project. The five-year financing deal, arranged alongside Access Bank, is designed to strengthen the refinery’s financial structure and support its long-term growth plans. A syndicated term loan involves multiple lenders funding a single borrower under one agreement, typically coordinated by lead arrangers. Afreximbank said the facility will improve DPRP’s balance sheet flexibility, reinforce financial strength, and position the refinery as a key supplier of refined petroleum products across Africa…

Bala Mohammed, governor of Bauchi State, is poised to formally defect to the African Democratic Congress (ADC) alongside his supporters on Thursday, in what could deepen the crisis within the Peoples Democratic Party (PDP). The governor signalled the move on Tuesday while hosting key ADC figures, including Babachir Lawal, at the Government House in Bauchi. His planned exit follows months of turmoil within the PDP, triggered by a disputed convention held in Ibadan in November 2025 by a faction led by Kabiru Turaki. Mohammed said efforts to stabilise the party had failed despite multiple reconciliation attempts. “We have found ourselves…

A Federal High Court in Abuja has ordered the final forfeiture of a London property linked to the late Jeremiah Useni to the federal government. Delivering judgment on Tuesday, Justice Binta Nyako ruled that the case brought by the Code of Conduct Bureau (CCB) was credible and supported by evidence. The property, located at 79 Randall Avenue in the UK, was said to be reasonably suspected to have been acquired with proceeds of unlawful activities. The court had earlier granted an interim forfeiture order on November 28, directing the CCB to publish the notice and invite any interested party to…

US President Donald Trump has said his preferred option in the ongoing conflict with Iran would be to “take the oil”, signalling a potential escalation beyond previously stated war aims. Speaking in an interview with the Financial Times, Trump openly suggested targeting Iran’s energy assets, including the possibility of seizing Kharg Island, the country’s main oil export hub. “To be honest with you, my favourite thing is to take the oil in Iran,” Trump said, dismissing critics of the idea. The remarks come amid intensifying hostilities involving Iran, the United States, and Israel, with global energy markets already under pressure.…

The United States (US) national average retail petrol price has crossed the $4 per gallon ($1 per litre) mark for the first time in over three years, highlighting growing pressure on consumers as global tensions escalate. According to a Reuters report, data from GasBuddy showed that prices reached the milestone on Tuesday the first time since August 2022. The surge comes amid heightened instability in global energy markets triggered by the ongoing conflict involving the United States, Israel and Iran. Analysts describe the $4-per-gallon level as a key psychological threshold for consumers, last seen after the Russian invasion of Ukraine…

The Nigerian High Commission in South Africa has issued a 10-point advisory to Nigerians residing in the country over rising tensions following the alleged coronation of an Igbo traditional ruler in the Eastern Cape Province. On Monday, several vehicles were burnt in the province as protests erupted against the alleged coronation of Solomon Eziko as the traditional leader of the Igbo community in the city. According to multiple reports, the protest was organised by members of ActionSA, a political party in South Africa, who described Eziko’s coronation as a violation of the province’s sovereignty and constitutional order. Reports indicate that…

The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing individual annual income tax returns to April 14, giving taxpayers in Lagos more time to comply. The initial deadline, set for March 31, was announced earlier this year for the 2026 year of assessment. However, in a statement issued on Monday, Ayodele Subair, executive chairman of LIRS, confirmed the extension to ease the filing process. According to the statement signed by Monsurat Amasa-Oyelude, head of corporate communications, the move is aimed at helping taxpayers submit accurate returns without errors. Subair urged residents to treat tax compliance as…

Apostle Johnson Suleiman, founder of Omega Fire Ministries, has condemned Nigeria’s leadership following the deadly attack in Jos, describing it as evidence of governance failure. In a strongly worded post on X, Suleiman said the violence in Plateau State reflects a leadership that prioritises politics over the protection of lives. “Jos attack is another evidence of failed leadership,” he wrote, criticising what he described as wasteful political activities instead of safeguarding citizens. The cleric warned that history would judge leaders who, according to him, have enabled the same insecurity they once condemned. “I believe in the power of prayers but…

Violence erupted in South Africa’s Eastern Cape on Monday as protests against an alleged Igbo traditional leader coronation spiralled into chaos, leaving several vehicles and properties destroyed. The unrest, reported in areas including KuGompo City, was linked to claims that a Nigerian national, Solomon Eziko, had been crowned as a traditional leader of the Igbo community. Protesters described the move as a breach of South Africa’s constitutional and cultural systems. Members of ActionSA were said to have organised the demonstration, insisting that only recognised processes should determine traditional leadership. According to SABC News, Athol Trollip, the party’s Eastern Cape chairman,…

Iziaq Salako, the minister of state for health and social welfare has warned that future pandemics are unavoidable, urging Nigeria and other nations to strengthen readiness and response systems. Speaking at a public health symposium in Abuja on Monday, the minister of state for health and social welfare said the next global health crisis is inevitable and requires urgent preparation. “The next pandemic is not a matter of if but when,” Salako said at the event themed Lessons on Pandemic Preparedness and Response: Insights from China and Nigeria. He noted that COVID-19, which killed more than seven million people worldwide,…