The Federal Government plans to issue bonds worth N758 billion to clear outstanding pension liabilities, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced on Tuesday in Abuja.

Speaking after the 23rd Federal Executive Council (FEC) meeting at the Aso Rock Villa, Edun explained that the debt, accumulated under the old Defined Benefit Scheme before the Contributory Pension Scheme was introduced in 2004, will be addressed through the Debt Management Office (DMO).

According to the minister, these pension arrears have built up over time due to periodic wage increases, making it difficult to settle them through regular payments. The bond issuance, he said, will provide long-overdue relief to affected pensioners.

“The government, through the DMO, has received approval to raise a Federal Government Bond of about N758bn to clear the backlog of pension liabilities,” Edun stated. “This will cover various categories of pensioners who are owed under the Defined Benefit Scheme, which was in place before the Contributory Pension Scheme came into effect in 2004 and was updated in 2014.”

He further explained that some pension obligations accrued due to adjustments in salaries every five years, requiring additional payments to retirees under the old scheme. Over time, this liability grew beyond what could be managed on an ongoing basis.

“To resolve this issue and ensure pensioners receive their rightful entitlements promptly, the government has approved this bond issuance. It will help settle all outstanding pension liabilities, bringing much-needed relief to the beneficiaries,” Edun added.

Shell Petroleum Development Company (SPDC) reported an oil spill on Tuesday at its facility in Ogale, near Port Harcourt, Rivers State, after a saver pit overflowed during flushing operations in the Niger Delta region. The oil major confirmed that its spill response team swiftly contained the overflow and notified relevant authorities. A Shell spokesperson stated that arrangements are underway for a regulator-led joint visit to assess the cause and impact of the spill.

According to the Youths and Environmental Advocacy Centre (YEAC-Nigeria), the spill occurred when an underground pit filled with crude oil began flowing into a pipeline that separates an area of the Ogoni cleanup project. This incident adds to the long history of oil spills in the Niger Delta, which have caused severe environmental damage, destroyed livelihoods, and impacted the health of millions in local communities.

This is not the first oil spill incident involving Shell in recent months. On December 14, 2024, the Nigerian Maritime Administration and Safety Agency (NIMASA) reported an oil spill at Shell’s loading terminal in Bonny, Rivers State. Shell responded by shutting down the affected pipeline and deploying containment booms to protect nearby communities. Earlier, on August 14, 2024, another spill occurred at an SPDC facility in Imiringi, Bayelsa State, which Shell attributed to oil theft.

The latest spill has reignited concerns about the environmental and social impact of oil operations in the Niger Delta, with calls for stricter oversight and accountability from oil companies operating in the region.

Hamas says talks start on second phase of Gaza ceasefire deal

Talks have started on the second phase of the Gaza ceasefire deal, the spokesperson for the Palestinian militant group Hamas said on Tuesday.

The first phase of the ceasefire between Israel and Hamas went into force on Jan. 19 after 15 months of war and involved a halt to fighting, the release of some of the Israeli hostages held by Hamas and the freeing of some Palestinian prisoners.

Phase two of the three-phase deal is intended to focus on agreements on the release of the remaining hostages and the withdrawal of Israeli troops from Gaza.

"Contacts and negotiation on the second phase have begun," Hamas spokesperson Abdel-Latif Al-Qanoua said, without providing further details.

Israeli Prime Minister Benjamin Netanyahu's office said earlier on Tuesday that Israel was preparing to send a high-level delegation to the Qatari capital Doha to discuss continued implementation of the deal.

Netanyahu was due to hold talks with U.S. President Donald Trump on Tuesday, with the focus likely to be on the ceasefire as well as a possible normalisation of relations with Saudi Arabia.

The initial six-week truce, agreed with Egyptian and Qatari mediators and backed by the U.S., has remained largely intact but prospects for a durable settlement are unclear.

The war began with the Hamas-led attack on Israel on Oct. 7 in which 1,200 people were killed and more than 250 taken hostage, according to Israeli tallies. Israel's military campaign in Gaza since then has killed more than 47,000 Palestinians, Palestinian health authorities say.

Hamas and Netanyahu's government, which includes hardliners who opposed the ceasefire deal, say they are committed to reaching an agreement in the second phase although each has criticised the other over its implementation.

Israeli leaders say Hamas cannot remain in Gaza, but the movement has taken every opportunity it could to show the control it still exerts despite the loss of much of its former leadership and thousands of fighters during the war.

Qanoua said Israel had stalled in implementing the humanitarian protocol of the ongoing first phase, hindering the repair of hospitals, roads, water wells and infrastructure destroyed by Israel's 15-month offensive.

Israel did not immediately comment on Qanoua's assertion although Israeli deputy foreign minister Sharren Haskel told MSNBC's "Morning Joe" show that Hamas had broken a lot of the rules that had been set.

Despite this, she said: "We are hopeful. We want to bring back all of our family members, and we need to make sure that Israel's security can be guarded."

Reuters

RUSSIAN PERSPECTIVE

Zelensky says he’s ready for talks with Putin

Ukrainian leader Vladimir Zelensky has expressed readiness to negotiate with Russian President Vladimir Putin if it is the only option to bring the Ukraine conflict to its end. 

He made the remarks during an interview with British journalist Piers Morgan, with excerpts published on Tuesday. When asked if he was prepared to meet with the Russian president, Zelensky indicated his willingness to do so.

“If that is the only setup in which we can bring peace to the citizens of Ukraine and not lose people, definitely we will go for this setup, for this meeting,” he said. “What is my attitude to him [Putin]? I will not be kind to him and I… consider him an enemy. And to be honest, I believe he considers me an enemy as well,” he stated.

The remarks appear to reflect an apparent shift in Zelensky’s stance. He had repeatedly refused to negotiate with Putin in the past and even signed a decree explicitly banning any negotiations with Moscow and President Vladimir Putin specifically. Last month, Zelensky claimed the ban applied to all Ukrainian officials except himself, while the original 2022 decree only stated that such negotiations were “impossible” without specifying any individuals or entities prohibited from engaging in them.

Last week, Putin reiterated Moscow’s position that Zelensky lacks the legitimacy to sign any agreement, given that his presidential term expired in May 2024 and no constitutional mechanism exists to extend it. However, the Russian president stated that he was willing to send negotiators to talk to Zelensky if the latter was open to discussions.

“It’s possible to negotiate with anyone. However, due to his illegitimacy, [Zelensky] has no right to sign anything. If he wishes to participate in talks, I will deploy people who will conduct such negotiations,” Putin said.

The Ukrainian decree banning negotiations with Russia remains a major obstacle to any meaningful talks between Kiev and Moscow, Putin suggested. Additionally, he pledged to deploy a team of legal experts to assess the authority of any Ukrainian negotiating team and determine whether they had the proper legal standing to sign an agreement.

“If we start negotiations now, they will be illegitimate… Because when the current head of the regime – that’s the only way to call [Zelensky] today – signed this decree, he was a somewhat legitimate president. But now he can’t cancel it because he is illegitimate. That’s the trick, the catch, the trap,” Putin explained.

WESTERN PERSPECTIVE

Ukraine's politics warms up as US focuses on war's endgame

After Russia's 2022 invasion, Ukraine's normally febrile political life was becalmed under martial law. But there have been growing signs of activity picking up, as the United States has set its sights on finishing the war with Russia quickly.

In the past week, one Ukrainian political camp has accused President Volodymyr Zelenskiy's team of caring more about elections than the war, Kyiv's mayor has said a presidential appointee is sabotaging his work and opposition figures have been travelling overseas.

"It's to do with Trump, the expectation that there will be negotiations ... The activity has increased, there's clearly more domestic political nervousness," said Volodymyr Fesenko, a Kyiv-based political analyst.

In what could fuel a sense of a looming return to politics, Reuters reported on Saturday that U.S. President Donald Trump's team wants Kyiv to hold a presidential election by the year-end, especially if it can agree on a ceasefire with Moscow.

Petro Poroshenko, a former president and leading opposition figure, has been pictured shaking hands with numerous foreign officials in recent weeks.

He denies it has anything to do with elections, which he says would work in Russian President Vladimir Putin's favour and destabilise Ukraine at a dangerous moment.

"Our task is to win the war," Poroshenko told Reuters.

Yet his European Solidarity Party has accused Zelenskiy of trying to bar him from parliament and of focusing on "upcoming elections instead of handling the war".

A former prime minister, Yulia Tymoshenko, has become more visible of late, meeting European Union officials abroad and protesting about Ukraine's detention of a general over a botched defensive operation last May.

Last week, Kyiv mayor Vitali Klitschko, a potential presidential challenger, accused Zelenskiy's entourage of political intrigue, saying the city's military administrator, appointed by the president, had deliberately derailed the work of his civilian administration.

Asked to comment, Zelenskiy's team referred the matter to the city administrator, who has dismissed Klitschko's allegations as unsubstantiated.

Fesenko said some political groupings were assembling activists and working on election campaign teams. He said he had seen no such activity in Zelenskiy's camp and that politicians were probably jumping the gun if they saw an election looming.

"It's a false start in my opinion," he said.

FALSE PRETEXT?

U.S. officials say no policy decisions have been made and their strategy on Ukraine is evolving. Ukrainian politicians, both from the ruling bloc and opposition, say elections before the war ends could undermine national unity.

There are also logistical challenges.

Serhiy Dubovik, deputy head of Ukraine's Central Election Commission, told Reuters it would take at least four to six months to prepare so that campaigning could start ahead of an election, given the displacement of voters and widespread destruction.

Millions of Ukrainians still live abroad, millions more are internally displaced by the war, a fifth of Ukraine is occupied and frontline areas have been devastated.

Zelenskiy has said elections will happen straight after the end of martial law, which was declared to provide the state with emergency powers to fight Russia. The legislation explicitly prohibits holding elections.

Zelenskiy, whose five-year-mandate would have ended last May, has not said whether he will run again. This is not his focus, he says.

Putin, who has been in power for 25 years, says Zelenskiy is not a legitimate leader in a position to negotiate because no election has been held.

In Ukraine, even those who say they disapprove of Zelenskiy's record largely see him as the legitimate leader, said Anton Hrushetskyi, director of the Kyiv-based KIIS survey centre.

A Ukrainian government official told Reuters that Putin was trying to create a false pretext to avoid talks. Ukraine wants to hold elections but it is impossible during a full-scale war, the official said.

Zelenskiy's public trust rating is above 50%, according to opinion polls, although it has dropped since Russia's Feb. 24, 2022 invasion, when it rose to over 90% as Ukrainians rallied around the flag.

The elephant in the room for some observers is Valeriy Zaluzhnyi, who led the armed forces for two years after that invasion before being replaced and named ambassador to London.

Some lawmakers have asked whether Zaluzhnyi could be co-opted by an established political force and run for president.

Ukraine's London embassy did not respond to a written request for comment.

Zaluzhnyi has publicly voiced no political ambition but polls suggest he is popular. Zaluzhnyi's image is all over bookstores in Kyiv, where thousands of copies of his new book "My War" have been sold.

Hrushetskyi said gauging the public's political preferences during the war was difficult, especially when it was not known who would run in an election.

Polls show the public broadly against holding elections until the war is over, Hrushetskyi added.

"For the majority, the priority is to achieve success in the war, and then hold elections," he said.

RT/Reuters

You must have heard this axiom at some point your life, “An apple a day keeps the doctor away.” If you did not hear it as a child, you must have heard it as an adult. Even now, many can see their school teachers in their mind’s eye restating this axiom. Its veracity was not in dispute then, and I do not think many have bothered to find out whether or not it is true. We somewhat believe that if we can eat at least an apple a day, then we will not have any business with the doctor.

The truth is that apple is one of the most consumed fruits around the world. It can be eaten raw, cooked, or juiced. Its reasonable affordability and wide availability, especially in regions with temperate climates, has made it a staple in many diets.

One of the reasons apples are touted as a wonder fruit is that it is abundant in antioxidants, particularly flavonoids like quercetin and catechin. These compounds help protect cells from the damage caused by free radicals, reducing the risk of chronic diseases like heart disease and certain types of cancer. Apples are equally a good source of both soluble and insoluble fibre. Soluble fibre helps lower cholesterol levels, while insoluble fibre aids in digestion and promotes regularity.

Apples also provide a decent amount of vitamin C, which supports immune function and collagen production, and contains potassium, which is essential for heart health and blood pressure regulation. The fact that apples are relatively low in calories and high in fibre makes them a satisfying and filling snack. Including apples in one’s diet, can help especially those watching their weight feel full and reduce overall calorie intake, thus aiding in weight management.

Although an apple a day might not, in reality, completely keep doctors at bay, incorporating it into a balanced diet can significantly contribute to overall health and well-being. The axiom “an apple a day keeps the doctor away” therefore serves as an allegorical statement that reminds us of the importance of incorporating fruits like apples into our daily diets. It reminds us in some way of the need for a healthy, balanced diet.

You can therefore imagine my shock when I went out recently to pick up some fruits for the house (something I had not done in a while), and my eyes fell on the apples. I was taken aback when the seller told me an apple was N500. That, I thought, was the joke of the year. How can an apple that sold for N200 in the recent past be selling for N500? I thought it was either the seller wanted to cheat me or things were much more expensive in that place, as we had only recently temporarily moved there. How can apples be more expensive in this place than in Lagos? I asked. The seller had no idea how much apples were selling for in Lagos, so he simply reiterated the fact that it was N500 for one.

I lamented to my wife and other family members when I got home, but they all reminded me that I had no idea of the current price of apples even in Lagos. This happened in December last year, less than two months ago. Today, the price of the same size of apple has gone up to N700. Some are even selling it for N800 or N900. An average Nigerian can simply no longer afford an apple a day.

Now, this is not just about apples anymore, as the prices of other fruits have similarly gone up. The big size of cucumber that sold for N200 in the not-too-distant past now sells for N700. And oranges? They have suddenly become four for N500, instead of the 10 for N500 in the recent past. It is unimaginable that prices can change so drastically, and so dramatically, within a few months in spite of the many assurances by the government and its top officials that things have started looking up.

And what can be said of apples and other fruits can also be said of every food item: prices have gone irretrievably beyond the reach of the average Nigerian. Worst hit are those who have been advised by their doctors to avoid certain foods. Many who had embraced healthy living as part of the solution to their health challenges (or as a pre-emptive measure) are suddenly falling back on whatever they can find to eat. They know this is not good for their health, but they would rather eat and at least stay alive, while they watch their health deteriorate.

The government therefore needs to urgently tweak its strategies with a view to tackling the problem of skyrocketing food (and fruit) prices which, from every indication, are not showing any signs of slowing down. Throwing handouts at some people every now and then is not the solution to the current hardship and deprivation experienced by the vast majority of Nigerians.

Governments at all levels — federal, state and local — should be involved in seeking a lasting solution to this gargantuan problem. After all, only the living and healthy can enjoy the bright future which the government has promised the Nigerian people, and keeps promising.

Gili Malinsky

During her 15 years at Microsoft, "I was looking at thousands of resumes a year," says Sabina Nawaz.

Nawaz, who served in roles such as Director of Human Resources, eventually left to start an executive coaching company where she's been working with senior leaders. She has a book coming out in March, "You're the Boss," about how to be a good manager.

Among the resume red flags she suggests job seekers avoid are general statements that give no sense of what the candidate did in previous positions.

And here are two of her top job interview red flags.

1. Not getting the basics right

Many jobseekers have a hard time adhering to the parameters of the job interview. "I cannot tell you the number of people who simply don't get the basics right," says Nawaz.

Those could include:

• Being on time for the interview
• Making sure your camera and audio are working correctly
• Making sure you have researched the people and organization you're interviewing with
• Dressing appropriately
• Following up with a "thank you" note

These mistakes can come off as inconsiderate or disrespectful of your prospective employer's time. They can also give a negative impression of "how you show up at work," she says.

2. Not highlighting your positives

By "not outlining your strengths in the best way possible," she says, you'll miss an important opportunity.

The job interview is a chance to flesh out what you can do as a worker with in-depth examples. When Nawaz works with her clients, she tells them to find 20 to 30 anecdotes of projects or experiences that "they're proud of the results and they enjoyed doing," she says. These can be drawn from both personal and professional lives.

Once they've identified those achievements, she has her clients look for patterns: What strengths do those anecdotes highlight? Pick out the ones most relevant to the job, she says, and reframe them within a story that's half about the problem and then half about the resolution.

If you can deliver these stories correctly in an interview, you end up "looking like a hero," she says.

CNBC

The Nigerian Communications Commission (NCC) reported a significant decline in internet subscribers to 139.28 million in December 2024, down 15% from 163.83 million in December 2023. This sharp decrease appears to coincide with Nigeria's deepening cost of living crisis, as many citizens struggle to afford basic telecommunications services.

Economic Context

The reduction in internet subscriptions reflects the broader economic challenges facing Nigerian consumers. The removal of fuel subsidies in 2023, combined with rapid currency devaluation and soaring inflation, has severely impacted household purchasing power. Many Nigerians have been forced to prioritize essential needs like food and housing over telecommunications services, leading to dropped subscriptions or reduced data usage.

Telecom Provider Performance

The economic hardship has affected telecom providers differently:

- MTN Nigeria reached 72.22 million subscribers, adding 1.56 million year-over-year despite the challenges

- Airtel grew to 47.41 million, gaining 2.34 million subscribers

- Globacom experienced a dramatic decline to 17 million, losing 26.92 million subscribers

- 9mobile dropped to 2.06 million, down 1.56 million

The stark contrast in performance suggests that consumers may be consolidating their subscriptions to larger providers offering better value propositions during these difficult economic times.

Overall Telecommunications Landscape

Total telephony services subscribers decreased to 164.9 million in December 2024 from 224.7 million the previous year, a decline of 59.7 million users. Market share distribution showed:

- MTN: 84.6 million subscribers

- Airtel: 56.61 million

- Globacom: 20.13 million

- 9mobile: 3.23 million

Technology and Infrastructure

Despite the economic challenges, some positive trends emerged:

- Broadband penetration increased to 44.43% in December 2024

- Data usage grew to 973,455.35 terabytes, up from 713,200.6 terabytes in December 2023

- Technology usage breakdown:

  - 4G: 47.2%

  - 3G: 8.75%

  - 5G: 2.46%

This increase in data usage among remaining subscribers suggests that while many Nigerians have had to cut back on multiple subscriptions, those who maintain their internet access are consuming more data, possibly due to increased reliance on digital services for work, education, and communication.

The contrasting trends of decreased subscriptions but increased data usage per subscriber highlight the complex relationship between economic hardship and digital connectivity in Nigeria.

The federal government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has announced a strict ban on the export of crude oil allocated for domestic refineries, aiming to boost local refining capacity and reduce pressure on foreign exchange. The move comes as approximately 500,000 barrels per day meant for domestic refining have reportedly been diverted to international markets.

New Regulatory Measures

In a letter dated February 2, 2025, NUPRC Chief Executive Gbenga Komolafe warned that the commission will deny export permits for crude oil cargoes intended for domestic refining. Any changes to designated cargoes must receive express approval from the Commission Chief Executive, with violations being treated as breaches of national law under Section 109 of the Petroleum Industry Act (PIA) 2021.

Industry Tensions

At a recent meeting attended by over 50 industry players, refiners and producers traded accusations over implementation failures of the Domestic Crude Supply Obligation (DCSO) policy:

- Refiners claimed producers preferred international sales over meeting domestic supply terms

- Producers countered that refiners failed to meet commercial and operational standards

Refinery Requirements

The NUPRC revealed that eight domestic refineries require 770,500 barrels per day for processing in the first half of 2025, representing 37% of the forecasted daily production of 2,066,940 barrels. Key refinery allocations include:

- Dangote Petroleum Refinery: 550,000 bpd

- Warri Refinery: 75,000 bpd

- Kaduna Refinery: 66,000 bpd

- Port Harcourt Refinery: 60,000 bpd

- Smaller refineries (including OPAC, WalterSmith, Duport Midstream, Edo, and Aradel): Combined allocation of 19,500 bpd

Enforcement Actions

The commission has implemented several measures to ensure compliance:

- Development of Production Curtailment and Domestic Crude Oil Supply Obligation Regulation 2023

- Creation of DCSO framework and procedure guide

- Support for the Naira-for-Crude programme, enabling local refineries to purchase crude oil in naira

The initiative aligns with Nigeria's broader strategy to strengthen energy security, boost domestic refining capacity, and reduce dependence on imported refined products. The NUPRC expressed confidence in meeting these targets, citing the success of its Project One Million Barrels launched in October 2024, which has increased the nation's crude production capacity.​​​​​​​​​​​​​​​​

The Nigeria Customs Service (NCS) has announced plans to reinstate 24-hour cargo clearance as part of its ongoing modernisation initiative, codenamed B’Odogwu.

Speaking at a stakeholder engagement in Apapa on Monday, the Deputy Comptroller General (DCG) in charge of ICT and Modernisation, K.I. Adeola, highlighted the project’s transformative potential for Nigeria’s trade ecosystem.

The B’Odogwu project, approved in May 2022 and ratified by the Federal Executive Council in April 2023, is structured as a 20-year public-private partnership (PPP) between the NCS and the Trade Modernisation Project unit.

Adeola stressed that the initiative goes beyond technological deployment, aiming to build a comprehensive system that enhances trade facilitation and boosts revenue generation.

Arab nations oppose removing Palestinians from Gaza in letter to US

Five Arab foreign ministers and a senior Palestinian official sent a joint letter to U.S. Secretary of State Marco Rubio opposing plans to displace Palestinians from Gaza, as suggested by President Donald Trump in late January.

The letter was sent on Monday and signed by the foreign ministers of Jordan, Egypt, Saudi Arabia, Qatar and the UAE, as well as Palestinian presidential adviser Hussein al-Sheikh. It was reported first by Axios, which said the top diplomats met in Cairo over the weekend.

Trump first floated the suggestion of Jordan and Egypt taking in Palestinians from Gaza on Jan. 25. When asked if he was suggesting that as a long-term or short-term solution, the president said: "Could be either."

The U.S. president's comments echoed long-standing Palestinian fears of being permanently driven from their homes and were labeled as a proposal of ethnic cleansing by critics. Jordan, Egypt and other Arab nations opposed the proposal.

"Reconstruction in Gaza should be through direct engagement with and participation of the people of Gaza. Palestinians will live in their land and help rebuild it," the letter said.

"And they should not be stripped of their agency during reconstruction as they must take ownership of the process with the support of the international community."

Israel's military assault on Gaza has killed over 47,000 Palestinians, according to the Gaza health ministry, and led to accusations of genocide and war crimes that Israel denies. The fighting has currently paused amid a fragile ceasefire.

The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered on Oct. 7, 2023, when Palestinian Hamas militants attacked Israel, killing 1,200 and taking about 250 hostages, according to Israeli tallies.

Reuters