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Tuesday, 24 June 2025 04:44

Israel and Iran agree on ceasefire to end 12-day war, Trump announces

U.S. President Donald Trump announced on Monday a complete ceasefire between Israel and Iran, potentially ending the 12-day war that saw millions flee Tehran and prompted fears of further escalation in the war-torn region. Israel, joined by the United States on the weekend, has carried out attacks on Iran's nuclear facilities, after alleging Tehran was getting close to obtaining a nuclear weapon. "On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, 'THE 12 DAY…

Sunday, 22 June 2025 04:05

US forces bomb Iran nuclear sites. Here’s what we know so far

U.S. forces struck three Iranian nuclear sites in a "very successful attack," President Donald Trumpsaid on Saturday, adding that the crown jewel of Tehran's nuclear program, Fordow, is gone. After days of deliberation, Trump's decision to join Israel's military campaign against its major rival Iran represents a major escalation of the conflict. "All planes are safely on their way home," Trump said in a post on Truth Social, and he congratulated "our great American Warriors." He was due to deliver a televised Oval Office address at 10 p.m. ET (0200 GMT). CBS News reported that the U.S. reached out to…

Saturday, 21 June 2025 04:38

Africa pioneers non-dollar payments systems. This is why and how they work

Africa's push for local currency payments systems - once little more than an aspiration - is finally making concrete gains, bringing the promise of less costly trade to a continent long hobbled by resource-sapping dollar transactions. But efforts to move away from the dollar face strong opposition and the threat of retaliation from U.S. President Donald Trump, who is determined to preserve it as the dominant currency for global trade. The move by Africa to create payments systems that do not rely on the greenback mirrors a push by China to develop financial systems independent of Western institutions. Countries like…

Saturday, 21 June 2025 04:35

UK court rules Shell can be held ‘liable for oil spills and leaks in Nigeria going back many years’

The High Court has ruled that Shell plc and its former Nigerian subsidiary can be held legally responsible for legacy, or historic, oil pollution which has devastated the environments of two communities in Nigeria. The judgement means that Shell, and its former Nigerian subsidiary, can be held liable for oil spills and leaks going back many years. Years of chronic oil spills have left the Bille and Ogale communities, which have a combined population of 50,000, without clean water, unable to farm and fish and with serious ongoing risk to public health. Shell tried to prevent these claims from getting…

Friday, 20 June 2025 05:04

UK finally approves Air Peace to fly directly to Heathrow

After a prolonged standoff, the United Kingdom has granted Nigeria’s Air Peace approval to operate direct flights to London’s Heathrow Airport, ending months of diplomatic tension and aviation policy disputes. The announcement was made by Air Peace Chairman, Allen Onyema, who said the airline would commence daily direct flights between Abuja and Heathrow beginning October 26, 2025. The approval marks a major milestone for the Nigerian carrier, which had previously been restricted to operating flights to London Gatwick since launching UK services in March 2024. The UK’s refusal to grant Heathrow access had stirred significant controversy. Nigeria’s Minister of Aviation…

Thursday, 19 June 2025 04:38

NUPRC introduces stricter export guidelines amid massive crude oil theft

In a significant move to stem the tide of Nigeria’s massive crude oil theft and opacity in the petroleum sector, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled new guidelines aimed at tightening control over the country’s crude oil and petroleum product exports. Announced on Wednesday, the new regime—formally known as the Nigerian Upstream Petroleum Advance Cargo Declaration Regulation 2024—seeks to establish a comprehensive framework for real-time declaration, verification, and tracking of every shipment of crude oil and related products leaving Nigerian shores. The NUPRC said the measure is designed to ensure that only certified, accurately measured, and government-sanctioned…

Thursday, 19 June 2025 04:36

FAAC: FG, states, LG share N1.65trn for May, 2025

The Federation Account Allocation Committee (FAAC) distributed N1.65 trillion among Nigeria’s federal, state, and local governments for May 2025, marking a N30 billion decrease from April’s N1.68 trillion allocation. The allocation figures were announced following FAAC’s June 2025 meeting, chaired by Finance Minister and Coordinating Minister of the Economy Wale Edun. Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, confirmed the details in a statement released Wednesday. Revenue Sources and Distribution The N1.65 trillion distribution came from a total gross revenue of N2.94 trillion collected during May. The distributable revenue consisted of: - Statutory Revenue:…

Wednesday, 18 June 2025 04:51

Nationwide fuel scarcity looms as marketers protest Lagos govt 5-fold increase in truck parking fee

A brewing dispute between Lagos State government and petroleum marketers threatens to disrupt fuel distribution nationwide as truck operators suspend operations along the critical Lekki-Epe corridor in protest of a controversial parking fee increase. The Dispute The Independent Petroleum Marketers Association of Nigeria (IPMAN), alongside the Nigerian Association of Road Transport Owners (NARTO) and Petroleum Tanker Drivers (PTD), have halted loading activities at Dangote Refinery and Lekki Deep Seaport following the Lagos government’s enforcement of a ₦12,500 electronic call-up parking fee per truck—a five-fold increase from the previous ₦2,500. The protest, which began Monday, has effectively suspended tanker movement from…

Tuesday, 17 June 2025 04:39

Nigeria's consumer inflation eased for a second month in May

Nigeria's headline inflation rate fell slightly for the second month in May, to 22.97% year-on-year from 23.71% in April, data from its statistics agency showed on Monday. Africa's most populous country has been battling high inflation which soared to repeated 28-year peaks last year, spurred by President Bola Tinubu's removal of petrol and electricity subsidies and devaluation of the naira after he came to power in 2023. After a rebasing exercise where the statistics bureau updated its base year to 2024, from 2009, and reweighted the inflation basket, the annual inflation rate fell sharply from 34.80% in December to 24.48%…

Saturday, 14 June 2025 04:52

Iran launches waves of missiles at Israel in response to airstrikes

Iran and Israel targeted each other with missiles and airstrikes early on Saturday after Israel launched its biggest-ever air offensive against its longtime foe in a bid to prevent it from developing a nuclear weapon. Air raid sirens sounded in Tel Aviv and Jerusalem, Israel's two largest cities, sending residents rushing into shelters as successive waves of Iranian missiles streaked across the skies. The military said its air defence systems were operating. "In the last hour, dozens of missiles have been launched at the state of Israel from Iran, some of which were intercepted," the Israeli military said. It said…

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Saturday, 14 June 2025 04:51

Israel’s Mossad set up drone base in Iran to take out enemy’s air defenses. Here’s what we know so far about how Israel overwhelmed Iran

Israel spent years preparing for the operation against Iran’s nuclear and missile programs, a security official tells The Times of Israel, including building a drone base inside Iran and smuggling precision weapons systems and commandos into the country. The effort hinged on tight joint planning between the IDF and the Mossad intelligence agency. According to the official, Mossad agents set up a drone base on Iranian soil near Tehran. The drones were activated overnight, striking surface-to-surface missile launchers aimed at Israel. In addition, vehicles carrying weapons systems were smuggled into Iran. These systems took out Iran’s air defenses and gave…

Saturday, 14 June 2025 04:50

Nigeria’s crude oil output declined 2% in May, regulatory data shows

Nigeria experienced a decline in crude oil production during May, with output dropping to 1.45 million barrels per day according to figures released by the Nigerian Upstream Petroleum Regulatory Authority (NUPRC). The May production figures represent a 2.20% decrease from April’s output of 1.49 million barrels per day. When including condensate production, total output fell from 1.68 million barrels per day in April to 1.65 million barrels per day in May. The regulatory authority explained that condensate consists of light liquid hydrocarbons resembling high-quality crude oil. This substance separates from natural gas streams during field production when gas temperature and…

Friday, 13 June 2025 04:47

Israel strikes Iran nuclear facilities, missile factories; commanders killed

Israel said it targeted Iran's nuclear facilities, ballistic missile factories and military commanders on Friday at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon. Iranian media and witnesses reported explosions including at the country's main uranium enrichment facility at Natanz, while Israel declared a state of emergency in anticipation of retaliatory missile and drone strikes. Iranian state television reported that Hossein Salami, the chief of the elite Revolutionary Guards corps, had been killed and the unit's headquarters in Tehran had been hit. Several children had been killed in a…

Friday, 13 June 2025 04:45

Air India flight bound for London crashes, kills 241 passengers, 53 on ground, with just one survivor. Here’s what we know so far

An Air India passenger plane carrying more than 200 people crashed on Thursday after taking off from an airport in the Indian city of Ahmedabad, and the airline has confirmed there was one survivor, despite a police official earlier saying it appeared there were none. Air India flight AI 171, a Boeing 787-8 Dreamliner bound for London's Gatwick Airport, crashed into a residential area called Meghani Nagar five minutes after taking off at 1:38 p.m. local time. There were 242 passengers and crew members onboard the flight. First responders found at least one survivor who was in seat 11A next…

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