FAST DOWNLOAD
Hello and welcome! In today’s trending news stories;
- Former Nigerian President Olusegun Obasanjo paid tribute to the late U.S. President Jimmy Carter. Speaking at a memorial service in Abeokuta, Ogun State, Obasanjo recounted Carter’s visit to Nigeria, where he persuaded Abacha to transition Obasanjo’s imprisonment to house arrest. Carter was the only non-African leader to plead with Abacha personally for Obasanjo’s release. Obasanjo also shared emotional memories of Carter’s support, including how media mogul Ted Turner offered assistance and expressed gratitude for Carter’s humanitarian efforts. Released after Abacha’s death in 1998, Obasanjo described Carter as a compassionate leader dedicated to global service and a true friend he would deeply miss. Carter passed away at age 100, leaving a legacy of selflessness and global impact.
-
On Sunday, January 12, 2025, Nigerian President Bola Ahmed Tinubu arrived in Abu Dhabi and met with Femi Otedola, chairman of FBN Holdings Plc, though the details of their meeting remain undisclosed. The visit coincides with President Tinubu’s participation in the 2025 Abu Dhabi Sustainability Week (January 12–18), where he plans to showcase his administration’s energy, transportation, public health, and economic development reforms. FBN Holdings is in a legal dispute with General Hydrocarbons Limited (GHL) over a failed $53 million loan and obligations tied to a 2020 OML 120 oil project partnership. The disagreement has resulted in arbitration claims exceeding $100 million. Meanwhile, the Abu Dhabi summit, themed “The Nexus of Next; Supercharging Sustainable Progress,” aims to foster collaboration between global leaders, industry players, and policymakers to advance sustainability and economic growth. President Tinubu will also engage with UAE leadership on mutual interests between the nations.
-
The Nigeria Civil Aviation Authority (NCAA) has announced plans to prosecute a female passenger who disrupted an Ibom Air flight scheduled to depart Uyo for Abuja at 5:30 PM on Wednesday, January 8, 2025. The passenger refused to travel without her checked luggage, which had been delayed due to weight restrictions. Despite prior notice to passengers about potential luggage delays and indemnity agreements, she insisted her bag be loaded before departure. After boarding, the passenger left the aircraft in protest, blocked the aisle, and held the flight hostage until the Uyo airport airspace closed for the day. This forced the flight’s cancellation, leaving 89 passengers stranded, including those with international connections and urgent appointments. If not for the intervention of security personnel at the airport, the woman would have been lynched by angry passengers. The disruption caused significant financial and logistical challenges for Ibom Air, which had to provide refreshments, transportation, and hotel accommodations for affected passengers. The NCAA condemned the incident, noting the airline suffered substantial losses and operational setbacks. The authority emphasized that such actions could be classified as terrorism in severe cases and reaffirmed its commitment to educating stakeholders about the penalties for unruly behavior.
-
The United States has returned $52.88 million in alleged illicit funds linked to Nigeria’s former petroleum minister, Diezani Alison-Madueke. The funds, recovered through US civil cases, stem from bribes and embezzlement tied to Alison-Madueke’s tenure as oil minister (2010–2015). The money was reportedly used to purchase luxury assets, including the Galactica Star superyacht and properties in California and New York. The US Ambassador to Nigeria, Richard Mills, called for accountability, urging Nigeria to use the funds effectively to benefit its citizens. At a signing ceremony in Abuja, Nigerian Attorney-General Lateef Fagbemi announced that $50 million will fund rural electrification projects via the World Bank. In addition, $2.88 million will support counter-terrorism and rule-of-law initiatives through the International Institute for Justice. Measures are in place to ensure transparent and accountable disbursement, with periodic reports to both Nigeria and the US. This is the first US repatriation of Alison-Madueke-linked assets and follows previous recoveries of $20.6 million and $311.8 million tied to former leader Gen. Sani Abacha.
-
According to preliminary figures from the ongoing GDP and CPI rebasing, the real estate sector has surpassed oil and gas to become Nigeria’s third-largest sector, following crop production and trade. Previously grouped under agriculture, crop production now stands as a separate category, contributing 28.65% to GDP in Q3 2024. Telecommunications, now a standalone sector, emerged as the fourth largest, with information and communication contributing 16.35% to GDP, while trade accounted for 14.78%. Crude petroleum and natural gas, construction, food, beverages, and tobacco ranked fifth, sixth, and seventh, respectively, displacing public administration from the top seven sectors. Real estate services grew by 46.52% year-on-year in Q3 2024, contributing 5.43% to real GDP. Despite declining purchasing power, the sector is driven by a housing deficit estimated at 28 million units. Projections indicate a market value of $2.61 trillion by 2025 and a CAGR of 6.91% through 2029. The rebasing, last conducted in 2014, updates the base year to 2019 and incorporates new sectors like digital economy and health insurance. Officials anticipate benefits such as increased GDP size, improved tax-to-GDP and debt-to-GDP ratios, and higher per capita income.
Trending Today: Obasanjo Reveals How Jimmy Carter Pleaded for His Release from Abacha Regime
