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Nigeria has transformed from being the world’s second-largest cement importer to becoming Africa’s leading cement exporter, according to Aliko Dangote, chairman of the Dangote Group.

Speaking at the Gates Foundation’s Goalkeepers event in Lagos on Wednesday, Dangote highlighted Nigeria’s remarkable shift away from import dependency across multiple key industries, including cement, fertilizers, and petroleum products.

From Importer to Export Leader

The industrial transformation represents a complete reversal of Nigeria’s previous trade position. The West African nation previously ranked as the second-largest cement importer globally but has now achieved export leadership across the African continent.

Beyond cement, Nigeria has made substantial progress in fertilizer production. The country now operates the world’s second-largest fertilizer plant and exports 37% of its production to the United States, addressing previous challenges that had affected local farmers.

Energy Sector Breakthroughs

In the petroleum sector, Dangote announced significant achievements for Nigeria’s refining capacity. The country’s new refinery operates at 650,000 barrels per day, exceeding even Saudi Aramco’s 430,000-barrel capacity to become the world’s largest single refinery.

The facility has already begun making an impact on Nigeria’s trade balance. In May alone, the country exported 400,000 metric tonnes of petroleum motor spirit (petrol), marking a complete departure from its previous 100% import dependency.

Nigeria has also addressed its polypropylene import requirements, previously bringing in 350,000 tonnes annually. The country now plans to meet domestic demand while exporting 600,000 tonnes to other African nations.

Health Sector Partnerships

Dangote also referenced successful health initiatives developed through partnerships with the Bill & Melinda Gates Foundation, including Nigeria’s achievement in ending polio transmission and advancing nutrition programs.

Vision for Healthcare Transformation

Drawing parallels between industrial and healthcare development, Dangote suggested that Nigeria’s business sector successes could serve as a template for transforming healthcare delivery. He emphasized the potential for developing local pharmaceutical manufacturing and reducing Nigeria’s reliance on medical tourism by ensuring quality healthcare access domestically.

The achievements outlined by Dangote reflect Nigeria’s broader economic diversification efforts and movement toward greater self-sufficiency in critical sectors.

The United States is preparing to provide Nigerian businesses with unprecedented access to its massive $120 trillion capital market, offering new pathways for financing innovation and business expansion across Africa’s largest economy.

Strategic Partnership for Economic Growth

US Ambassador to Nigeria David Greene Mills outlined the initiative during a fireside chat at Lagos Business School, describing America’s financial system as a crucial source of venture capital and long-term investment opportunities for Nigerian entrepreneurs.

The ambassador emphasized that the liquidity and efficiency of US financial markets position them as ideal platforms for supporting Nigerian business growth and innovation across multiple sectors.

Strong Foundation of Existing Trade Relations

The announcement builds on an already robust economic relationship between the two nations. Nigeria currently ranks as America’s second-largest trading partner in Africa, with bilateral trade in goods and services reaching nearly $13 billion in 2024.

US foreign direct investment in Nigeria has shown consistent growth, rising to $6.5 billion in 2024—a 5.5% increase from the previous year. This investment flows through more than 80 major American companies currently operating across Nigerian sectors including pharmaceuticals, technology, and manufacturing.

American Business Presence Expanding

Several prominent US corporations have established significant operations in Nigeria, particularly in the Lagos Free Zone and Alaro City. Major brands including Kellogg’s, Colgate-Palmolive, and Caterpillar have set up facilities in these strategic locations, demonstrating growing confidence in Nigeria’s business environment.

The venture capital landscape already shows strong US involvement, with American firms providing 60% of Nigeria’s venture capital funding. Mills indicated this percentage could increase significantly as access to US capital markets expands.

People-to-People Connections Drive Partnership

The economic relationship is reinforced by substantial human connections between both countries. Over 750,000 Nigerians currently live in the United States, representing the largest African diaspora community in America. Additionally, more than 20,000 Nigerian students are enrolled in US universities, strengthening educational and cultural ties.

Future-Focused Investment Strategy

Mills highlighted Nigeria’s demographic trajectory as a key factor in the partnership’s long-term potential. With Nigeria projected to become the world’s third most populous country by 2050—surpassing the United States with over 375 million people—the ambassador sees enormous growth opportunities ahead.

“We will continue to invest in development through expanded trade and private investment because it is the private sector that drives economic growth,” Mills stated, emphasizing the shift toward market-driven rather than aid-based economic cooperation.

Creating Enabling Environment

The ambassador stressed that success will depend on fostering a business environment that encourages high-impact investment and collaboration. He identified increasing trade, investment, and business linkages between the two nations as a central priority of his diplomatic mission.

The initiative represents a significant evolution in US-Nigeria economic relations, moving beyond traditional trade partnerships toward comprehensive capital market integration designed to fuel mutual economic growth.

The Kwara State Police Command on Thursday confirmed the killing of two policemen and the abduction of a Chinese national and one Nigerian in the Oreke-Okeigbo community in the Ifelodun Local Government Area of the state on Wednesday night.

The incident which took place at a mining site in the community at about 6.30 pm on Wednesday, saw two policemen: an Assistant Superintendent of Police and an Inspector being shot dead by a group of unidentified gunmen who attacked it.

According to a statement e-signed by the Police Public Relations Officer, Adetoun Ejire-Adeyemi, in the command on behalf of the Commissioner of Police, Adekimi Ojo on Thursday, the gunmen also abducted two individuals; a Chinese national and a Nigerian from the mining site.

The statement said, “The Kwara State Command of the Nigeria Police confirms a deadly attack and abduction incident that occurred on June 4, 2025, at about 1830hrs. This heinous act was done at a mining site located in Oreke-Okeigbo of the state.

”Information received from the Divisional Police Officer in Oreke indicates that a group of unidentified armed assailants invaded the said mining facility, where they tragically shot and killed two operatives of the Nigeria Police Force —ASP Haruna Watsai and Inspector Tukur Ogah, both attached to the 45 PMF, Abuja, who were on official protective assignment at the location.

The attackers also carted away the rifles of the deceased officers.

”In addition to the heinous killings, the assailants abducted two individuals: Sam Xie Wie, a Chinese national, and David Adenaiye, a native of Kogi State who was working at the mining site at the time of the incident,” the statement added.

The Commissioner of Police, Kwara State Command, Adekimi Ojo, strongly condemned the act of brutality and assured the public that the command had since swung into decisive action to bring the perpetrators to book and rescue the abductees.

“Tactical and intelligence-driven efforts are currently underway to ensure the swift rescue of the abducted victims and the apprehension of those responsible for this cowardly attack.

“The command is working in close synergy with other security agencies and community stakeholders to strengthen its presence in the area and prevent a recurrence of such incidents.

”Residents of Kwara State are urged to remain calm and law-abiding, as the command remains fully committed to the protection of lives and property across the state.

“We appeal to members of the public to provide credible and timely information that could aid the ongoing investigation and recovery efforts,” the statement further said.

 

Punch

US group distributing aid in Gaza reopens sites after deadly shootings

A U.S.- and Israeli-backed organisation distributing aid in Gaza reopened two sites on Thursday, a day after halting work in response to a series of deadly shootings close to its operations.

The U.S.-based Gaza Humanitarian Foundation said 26 truckloads of desperately needed food were handed out at two sites in southern Gaza's Rafah area.

The GHF, which has been fiercely criticised by humanitarian organisations, including the United Nations, for alleged lack of neutrality, began distributing aid last week and had been running three sites earlier this week.

GHF's interim director John Acree said in a statement that the group was looking to open more sites, including in north Gaza, and "ensure safe and more efficient delivery of lifesaving aid".

The U.N. has warned that most of Gaza's 2.3 million population is at risk of famine after an 11-week Israeli blockade of the enclave, with the rate of young children suffering from acute malnutrition nearly tripling.

"The failure to provide urgent therapeutic feeding and health services for children places thousands of lives at immediate risk, and could result in unnecessary and continued loss of life," U.N. aid chief Tom Fletcher told the Security Council in a note, seen by Reuters.

Meanwhile, Israel announced it had recovered the bodies of two dual-nationality Israeli-American hostages from Gaza. Gadi Hagi and his wife Judy Weinstein-Hagi were killed and taken to Gaza after Hamas' October 7, 2023 attack that triggered the war. Fifty-six hostages remain in captivity, with fewer than half still believed to be alive.

The Israeli military has intensified operations in Gaza since breaking a fragile ceasefire with Hamas in March, taking more territory with the government pushing to wipe out the Islamist militant group.

At least 20 Palestinians were killed in Israeli strikes across Gaza on Thursday, including four journalists in a hospital in the enclave’s north, local health authorities said. The military said that it had targeted an Islamic Jihad militant who was operating a command-and-control centre.

The Hamas-run government media office says that 225 journalists in Gaza have been killed since the war began.

The renewed military campaign has further isolated Israel amid mounting international pressure. On Wednesday, a U.S. veto blocked a U.N. Security Council draft resolution, backed by the 14 other members, demanding an "immediate, unconditional and permanent ceasefire" and full, unrestricted aid access to Gaza.

Under global pressure, Israel allowed limited U.N.-led aid deliveries to resume on May 19. A week later, the relatively unknown GHF started a new aid distribution system that bypasses traditional relief agencies.

 

Reuters

WESTERN PERSPECTIVE

Four killed in intense Russian air attack on Ukraine's capital

Russia mounted an intense missile and drone barrage of the Ukrainian capital overnight, killing at least four people, according to Ukrainian officials, and sending powerful explosions reverberating across the city.

The night of attacks followed a warning from Russian President Vladimir Putin, conveyed via U.S. leader Donald Trump, that the Kremlin would hit back against Kyiv after Ukrainian drones destroyed several of Russia's strategic bomber aircraft in coordinated attacks deep inside Russia.

Kyiv mayor Vitali Klitschko indicated the death toll of four could rise, because rescue workers were still looking for people under the rubble of buildings. He also said 20 people were injured, of whom 16 were hospitalised.

Operation of the city's metro transport system was disrupted because a Russian strike had hit and damaged a train between stations, the city's military administration said.

The air attack also triggered fires in residential buildings in different parts of the city, authorities said.

Earlier in the night, as the attacks came in, Reuters reporters could hear the sound of Russian kamikaze drones buzzing in the sky, accompanied by the sounds of outgoing fire from Ukrainian anti-aircraft fire.

Reuters witnesses reported a series of booming explosions powerful enough to rattle windows far from the impact sites, and at least one large fire at the site of a drone hit.

Some Kyiv residents sought shelter in metro stations, or in underground car parks.

Ukraine's air force said the city had been targeted with drones and Kalibr cruise missiles.

Tymur Tkachenko, head of Kyiv's military administration, said drones had struck the upper floors of a high-rise apartment building and started a fire in Darnytskyi district on the east side of the city, where he said emergency power cuts were possible.

Tkachenko said a fire had also broken out in an apartment building in a western district. He said drone fragments had been spotted in three districts.

In one of the most audacious attacks of the war between Ukraine and Russia, Ukrainian spies last weekend destroyed some of Russia's strategic bomber aircraft on the ground using quadrocopter drones hidden in wooden sheds.

Trump said after a phone conversation with Putin on Wednesday that the Kremlin was planning an unspecified response to the Ukrainian attack on Russian air bases.

 

RUSSIAN PERSPECTIVE

Ukraine reports major Russian strike overnight

Ukrainian officials have claimed that Moscow launched multiple waves of missile and drone strikes on Kiev and other cities across the country overnight. The Russian Ministry of Defense has yet to comment.

Multiple explosions were reported across several districts of Kiev and its suburbs early Friday morning, with mayor Vitaly Klitschko claiming that the Ukrainian air defenses were engaging incoming missiles and drones. The official initially said that debris fell on the territory of non-residential buildings only. He later claimed that at least four people were killed and 20 injured.

Surveillance footage allegedly captured by a CCTV camera somewhere in the Kiev region appeared to show the moment a US-supplied Patriot air defense system attempted to engage an incoming missile with four interceptors before seemingly being hit.

Blasts were also reported in the western regions of Ternopol and Lviv, in the western Ukrainian city of Lutsk, in Kremenchug in central Ukraine, and elsewhere across the country. Multiple blurred out videos shared across Ukrainian social media appeared to show the aftermath of the strikes, but the exact locations and the facilities targeted were hard to verify.

The Russian Defense Ministry has not yet issued a statement on the incident. Moscow regularly carries out drone and missile strikes on Ukrainian military infrastructure, insisting that its operations do not target civilian facilities – and blaming Kiev for placing its air defenses in densely populated areas.

On Sunday, Ukrainian drones struck multiple Russian airbases in a coordinated assault targeting long-range, nuclear-capable bombers. Moscow said that most of the incoming drones were intercepted, without confirming any irreparable losses or carrying out any immediate military response. Kiev also targeted multiple Russian civilian sites in acts of railway sabotage over the weekend, killing at least seven people and injuring over 120 in what Moscow branded as terrorism.

Russian President Vladimir Putin told his US counterpart Donald Trump in a phone call on Wednesday that Moscow “will have to respond”to the attack on the Russian nuclear deterrent. Kremlin spokesman Dmitry Peskov said the retaliation would be carried out “when and how our military deems appropriate.”

 

Reuters/RT

Boarding announcements were not an issue when I used to commute in Lagos by danfo, the ubiquitous yellow buses, or molue, the mass-transit lorries, which were improvised for public transportation.

The conductors often had a melodious and entertaining way of calling passengers that was enjoyable to hear. They called out in a drawl, accompanying each announcement with a warning for passengers to board with their change in hand or risk a “forced marriage,” which meant giving a fixed sum, usually a bank note, to two or more passengers to share at disembarkation.

Flying is a luxury – or should be – with no room for bus conductors and their outrageous threats of forced passenger marriages. But vehicle conductors across the country might be surprised to know that, however lowly their jobs, there are several areas where they do far better than their cousins at airports across the country, who, for want of a better description, carry the elegant titles of flight announcers, when quite frankly, they perform the job of conductors.

A conductor’s life

There is no intention to deride or demean, please. Conductors, whether at the motor park, opera, or the airport, provide the vital link that helps us understand and enjoy the moment, as we make a rite of passage.

But that vital function is threatened at many airports nationwide, even among crew announcers onboard several flights. I could have missed a recent flight from Asaba to Abuja because I wasn’t sure what the announcer said: “This is a broaden hannouncement on Flight PA7861 from Hum, Hum, Hum, to Ham, Ham, Ham…all persongers on this flight should phulease proceed to the gate to broad…a phust departure call phulease…”

I didn’t understand. The babble was neither British, American, nor trans-Atlantic. It was not even Ingili-Igbo(a variety of standard British English mixed with Igbo phonemes) as Chief Zebruddaya Okorigwe-Nwogbo alias 4.30 might have called it in the New Masquerade. It was indecipherable. But I noticed some passengers rushing to line up or scampering in different directions. I stayed put, waiting for a second, hopefully clearer announcement. It was the same thing.

Accra bound?

I looked at my colleague with whom I was travelling and asked, “Did you hear what the announcer said?” “I think she said something like it’s a flight to Accra,” he responded. “No way,” I replied. “You mean that flights now depart from the Asaba Airport to Accra? And see the number of passengers lining up.”

Time was ticking. We hurried to the line, which is often the typical response when there’s no airline staff in sight, where a passenger smiled a knowing smile and told us it was a flight to Abuja, not Accra. At that time, something that sounded like the final boarding announcement had been made.

I had experienced a similar thing on my outbound trip from Abuja, where the flight announcer seemed more concerned about how her fake imitation of an Oyinbo accent than the clarity of what she was saying. I got up twice to ask at the desk.

Suupri…suupri…suupri

The second time, the announcer who faked an Oyinbo accent told me in plain, audible language that my flight had not been announced. “Is it impossible to announce as you have just told me, Ma?” I asked. She smiled and adjusted the PAS: “This is a boreding announcement on Flight PA74862 from suupri, suupri, suupri, to ham, ham, ham…all persongers on this flight should phulease proceed to the boreding gate…a phust departure call phulease…”

I gave up.

Sometimes, the noise in the departure lounge can make things worse. At other times, the lack of coordination and/or the poor sound quality of the PAS can also compound the problem. There’s hardly such a thing as a level key. The volume is too high, too low or a garbled screeching static sound. As for the tone of voice, that’s something else altogether.

What was that, pilot?

It happens onboard, too. For aerophobics like me, a pilot’s calming voice before departure, midflight, or shortly before landing has a huge calming effect. Often, however, you’ll have to strain to hear. There’s such a deafening noise in the inflight PAS that it’s difficult to decipher what even the pilot says, whether it will be fair weather, or you should brace up for a bumpy ride. On this last trip to Asaba, it wasn’t very different, but it was the attendant who had me cracking a rib.

From her appearance, she seems a full-blooded Nigerian woman, likely from the Southeast. As we neared landing, she unleashed a torrent of fake accents. She concluded by welcoming passengers to “Asaaabhaaa,”pronounced like a JJC would say Asaba, with enough drawl of the “Icheku” variety (the Nigerian TV drama series based on the foibles of the colonial courtroom) to spice the miserly inflight passengers’ lunchbox. Where did she acquire that accent from?

Oyinbo blues

I might be a latecomer to this flourishing business of phonemical jiggery pokery. Farooq Kperogi flagged it in an article two years ago, entitled “Fake Accents on Nigerian Airplanes and Airports,” in which he narrated how an Oyinbo man approached a passenger to interpret what the flight announcer said. It was his second article on the subject in seven years.

Although recent aviation concerns have focused more on air traffic control staffing shortages, technology and flight delays, it would be interesting to see statistics on how indecipherable announcements may have contributed to passenger misery, including perhaps, missed flights.

It wouldn’t be a big issue if the humour of Oyinbowannabes were all there was to it. It would, in fact, be a good source of entertainment when flights are delayed, as they frequently are. But passengers who bank on in-flight announcers who use them to practice phonology risk missing their flights.

Lessons from the motor park

In many parts of the world, airports are enhancing the quality of announcements. Tools like PAXGuide, for instance, can monitor every announcement, including who made it and when. Instead of terminal-wide announcements, announcements can be targeted and localised to specific gates, while automation through display boards and technological upgrades can also help to improve the passenger’s experience.

There’s also something that airports, with a bit of humility, can learn from the motor parks. I’m serious about this. The conductors in the motor parks hardly ever pretend to be someone they’re not or borrow a language they’re uncomfortable with. Apart from the points suggested, is it also possible for the Federal Airports Authority of Nigeria (FAAN) to authorise using pidgin English (perhaps the most widely spoken language across the country), as the second language for flight announcers at least for domestic routes?

It would take a truly wayward flight announcer to nasalise pidgin English and not sound ridiculous in his or her own ears.

** Ishiekwene is Editor-in-Chief of LEADERSHIP and author of the book, Writing for Media and Monetising It.

 

Melissa Rudy

Arun Sanyal, M.D., director of the VCU Stravitz-Sanyal Institute for Liver Disease and Metabolic Health, discusses the clinical trial involving 800 participants, in which a weekly dose of semaglutide was effective at treating fatty liver disease.

As cases of drug-induced liver injury (DILI) are on the rise, experts are warning of the hidden dangers associated with some common medications and supplements.

Statistics show that DILI, also known as toxic hepatitis or hepatotoxicity — which is known to be a significant cause of acute liver failure — has been growing in Western countries since the 1960s.

Around one-fifth of the total population who are prescribed medications will experience DILI, according to recent research published in the journal Toxicology Reports.

Potential triggers of liver injury include herbal products, dietary supplements and medications, the study found.

Those with pre-existing liver conditions and nutritional deficiencies are at a higher risk, as are pregnant women.

How drugs can harm the liver

One of the liver’s main functions is to break down substances taken orally, including supplements and medications, according to the American College of Gastroenterology (ACG).

For some people, the process of metabolizing these substances can be slower, increasing the risk of liver damage.

Even medications that have been tested for safety and approved by the U.S. Food and Drug Administration (FDA) can potentially cause liver injury in rare cases, stated the ACG.

Common symptoms of liver disease include nausea, loss of appetite, abdominal pain, generalized itching, dark urine and jaundice, although some people may notice no signs, per the above source.

Most common medications that cause DILI

The recent study in Toxicology Reports identified several drugs that are most likely to cause liver injury.

  • Paracetamol (acetaminophen), a common over-the-counter pain reliever
  • Nonsteroidal anti-inflammatory drugs (NSAIDs), which are often used to treat headaches, fever and chronic inflammatory disorders
  • Aspirin, a common over-the-counter medication used as a fever-reducer, pain reliever and blood thinner
  • Nimesulide, an NSAID used to relieve pain and reduce fever
  • Methotrexate, an antimetabolite medication that is used to treat rheumatoid arthritis, lymphoma, leukemia and other cancers
  • Corticosteroids, which are used to treat conditions involving inflammation or overactive immune systems
  • Isoniazid, a first-line treatment for tuberculosis
  • Tetracyclines, a class of antibiotics that treat multiple types of bacterial infections
  • Halothane, which is used as a general anaesthetic during surgical procedures

Supplements linked to liver damage

Medications aren’t the only agents that can cause drug-induced liver injuries.

Marc Siegel, Fox News senior medical analyst, spoke with Fox News Digital about the risks of herbal and dietary supplements (HDS) affecting the liver.

"The biggest problem with herbal supplements is that the amount you are taking of active chemicals isn’t strictly regulated, so you don’t know exactly what you are getting," he said. 

"And since several of the supplements are metabolized through the liver, there is now an increasing incidence of liver toxicity in users."

Cases of DILI linked to herbal or dietary supplements have nearly tripled between 2004 and 2014, according to a 2024 study published in JAMA Network Open.

The researchers identified the following most commonly used botanical products known for potential liver toxicity.

  • Turmeric, a common spice added to foods
  • Green tea
  • Ashwagandha, an herb used for stress and anxiety
  • Garcinia cambogia, a popular weight-loss supplement
  • Red yeast rice, which is said to help lower cholesterol levels
  • Black cohosh, a dietary supplement used to relieve menopause symptoms

It is estimated that at least 15.6 million U.S. adults have used at least one of these six botanical products within the past 30 days.

"The most commonly implicated botanical products in the DILIN (Drug-Induced Liver Injury Network) include turmeric, kratom, green tea extract and Garcinia cambogia, with potentially severe and even fatal liver injury," the study stated.

Drug-induced liver injury caused by HDS can be severe or even fatal, leading to death or liver transplantation, the researchers noted.

Fox News’ Siegel also warned against the potential liver-related risks of some of these named supplements.

"Turmeric is a natural anti-inflammatory and may be useful in small doses, but can be toxic in large doses," he cautioned.

"Garcinia cambogia is very popular, especially as a weight-loss agent, but there is no real evidence that it actually works, and there is no reason to take it, especially with the new GLP-1 drugs."

While red yeast rice has cholesterol-lowering statin-type properties, Siegel cautioned that the amount of active chemicals isn’t as strictly regulated as approved medications.

"I find it useful in some patients who are reluctant to start statins and are looking for a more natural alternative, but I must strictly monitor the amount taken and the effect on the liver," he said.

Regarding green tea, Siegel noted that it does have antioxidant properties and can be useful to consume as a beverage (though it has a lot of caffeine) — "but there is no reason whatsoever to take more of it in an extract, where it can be toxic."

The FDA states on its website that it does regulate dietary supplement products and dietary ingredients, but under "a different set of regulations than those covering ‘conventional’ foods and drug products."

"Manufacturers and distributors of dietary supplements and dietary ingredients are prohibited from marketing products that are adulterated or misbranded," the agency says. "That means that these firms are responsible for evaluating the safety and labeling of their products before marketing to ensure that they meet all the requirements of the Federal Food, Drug, and Cosmetic Act as amended by DSHEA and FDA regulations."

Fox News Digital reached out to several researchers and the FDA regarding the rise in drug- and HSD-related liver injury.

Melissa Rudy is senior health editor and a member of the lifestyle team at Fox News Digital. Story tips can be sent to This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Fox News

The Nigeria Labour Congress (NLC) has sharply criticised the administration of President Bola Tinubu, declaring that two years into his tenure, Nigerians have experienced widespread hardship and suffering without any tangible benefits.

In a comprehensive review of the administration’s performance, NLC President Joe Ajaero lamented what he described as a lack of meaningful progress since Tinubu assumed office on May 29, 2023.

“President Tinubu came into office promising bold reforms to steer Nigeria toward economic recovery and prosperity. Yet, two years on, the only thing bold is the level of hardship inflicted on ordinary Nigerians by his policies,” Ajaero said.

Unfulfilled Promises, Worsening Realities

Ajaero criticised Tinubu’s economic agenda, accusing it of recycling discredited neoliberal policies that have historically failed to deliver results. He pointed to the abrupt removal of the petrol subsidy, which saw fuel prices soar from N187 to over N900 per litre, triggering inflation and further eroding the purchasing power of Nigerian workers.

“The subsidy removal was touted as a sacrifice for development. But instead of progress, Nigerians have seen nothing but food insecurity, shuttered businesses, and unbearable transport costs,” he said.

The union also condemned the government’s floating of the naira, which they argue has led to currency instability, increased the cost of imports, and devastated local industries.

“We’ve seen this pattern before—structural adjustments and austerity dressed up as reforms. The outcome is always the same: deeper poverty and greater inequality.”

Mounting Economic Hardship

According to the NLC, real wages have been severely diminished, pensioners are struggling, and over 150 million Nigerians are now classified as multi-dimensionally poor. Small and medium enterprises (SMEs) face input cost hikes of over 150%, while wage award arrears remain unpaid.

Although the Federal Government has rolled out compressed natural gas (CNG) buses as a palliative to ease transport burdens, Ajaero dismissed the measure as grossly inadequate and hindered by a lack of infrastructure.

Labour Intimidation and Lack of Dialogue

The NLC accused the Tinubu administration of replacing promised dialogue with labour unions with intimidation and repression.

“Rather than engage workers in genuine dialogue, this government responds with threats, violence, and the criminalisation of protests. Meanwhile, public officials continue to enjoy luxuries funded by the very people they ask to sacrifice.”

Security Crisis Overshadowing Economic Policy

The union also raised alarm over the worsening security situation, warning that the nation’s economic discourse is meaningless in the face of rising insecurity.

“Talking about economic policy while Nigerians are being kidnapped, robbed, and murdered daily is like arguing about interior design in a burning house. Safety and security must come first.”

The NLC lamented that insurgent groups, banditry, and violent crimes have continued to claim lives and destabilise communities, creating an environment that deters investment and undermines public trust.

A Call for Change

Concluding its appraisal, the NLC rejected what it described as “painful reforms without gain,” calling them nothing more than deliberate policies that deepen poverty while enriching a privileged few.“True reform must prioritise the welfare of citizens. Policies that serve foreign creditors, speculators, and the elite at the expense of the people are not reforms—they are betrayals. It’s time this government changed course and placed Nigerians at the heart of its agenda.”

The Nigerian stock market has demonstrated remarkable resilience with a sustained upward trajectory over two consecutive trading sessions, accumulating gains totaling N483 billion and pushing market capitalisation above N71 trillion for the first time.

Strong Performance Metrics

The market’s bullish momentum began on Tuesday when capitalisation increased by N259 billion (0.37%) to reach N70.894 trillion, followed by Wednesday’s additional N224 billion gain (0.32%) that elevated total market value to N71.118 trillion.

The All-Share Index (ASI) mirrored this positive trend, climbing 411.52 points on Tuesday to close at 112,427.48, then adding another 354.25 points on Wednesday to finish at 112,781.73 points.

Driving Forces Behind the Rally

The sustained growth has been primarily attributed to robust buying interest in medium and large-capitalised stocks across both trading sessions. Key performers included:

Tuesday’s Top Gainers:

- Honeywell Flour Mill: +10% to N22.00

- SCOA Nigeria: +10% to N5.39

- SFS Real Estate Investment Trust: +10% to N226.60

- Industrial & Medical Gases: +9.96% to N37.00

- International Energy Insurance: +9.82% to N1.79

Wednesday’s Leading Stocks:

- Oando: +10% to N51.70

- UH Real Estate Trust: +9.96% to N50.25

- Royal Exchange: +8.64% to N0.88

- Legend Internet: +7.27% to N5.90

- Lasaco Assurance: +6.67% to N3.20

Market Breadth Analysis

Both trading sessions recorded positive market breadth, indicating broad-based investor confidence:

- Tuesday: 36 gainers versus 32 losers

- Wednesday: 32 gainers against 21 losers

However, some stocks experienced significant declines. Tuesday’s major losers included Conoil (-10% to N268.30), Learn Africa (-9.98% to N3.88), and Transcorp Hotels (-9.97% to N132.80). Wednesday saw Nigerian Railway Corporation lead the decline with a 9.89% drop to N5.92.

Trading Activity Overview

Trading volumes remained robust across both sessions:

Tuesday Trading Data:

- Volume: 622.64 million shares

- Value: N16.12 billion

- Transactions: 17,044 deals

Wednesday Trading Activity:

- Volume: 611.53 million shares

- Value: N16.68 billion

- Transactions: 13,682 deals

Most Active Stocks

Fidelity Bank dominated trading activity on both days, leading Tuesday with 108.17 million shares worth N2.05 billion and Wednesday with 93.47 million shares valued at N1.78 billion. Other consistently active stocks included Guaranty Trust Holding Company, United Bank for Africa, and Access Corporation.

Market Outlook

The consecutive days of gains represent a significant boost for investor confidence in the Nigerian equity market. The sustained buying pressure across diverse sectors suggests growing optimism about corporate earnings potential and overall economic prospects.

The achievement of crossing the N71 trillion market capitalisation threshold marks a notable milestone for Nigeria’s capital market, reflecting both domestic and international investor appetite for Nigerian equities in the current market cycle.

The Nigerian Copyright Commission (NCC) has issued a stern warning to disc jockeys (DJs) against playing music in public without proper licensing, stating that offenders risk a fine of up to ₦1 million or a five-year prison sentence.

In an advisory released on Wednesday in Abuja, John Asein, Director-General of the NCC, expressed concern over the increasing trend of DJs performing copyrighted music without obtaining the required permissions from approved Collective Management Organisations (CMOs).

Asein emphasized that under Sections 9 and 12 of the Copyright Act (2022), only the copyright owner of a musical work or sound recording has the exclusive right to reproduce, perform, or communicate it to the public. Unauthorized use constitutes an infringement, which could result in civil liability or criminal charges under Section 44(7) of the Act.

“Violators face a minimum fine of ₦1 million or a jail term of five years—or both—upon conviction,” he stated.

The NCC urged DJs to secure the necessary licenses and pay royalties through the approved CMO, the Musical Copyright Society Nigeria (MCSN). Asein noted that the Disc Jockey Association of Nigeria (DJAN) has already partnered with MCSN to streamline royalty payments for DJs nationwide under a negotiated tariff.

The commission warned that it would enforce the law rigorously, arresting and prosecuting any DJ found operating without proper authorization.

“The NCC will not tolerate copyright violations,” Asein said. “DJs must comply with licensing requirements to avoid legal consequences.”

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