The Nigerian Exchange Limited (NGX) bounced back on Thursday as market capitalization increased by N240 billion, driven by renewed investor interest in Nigeria Breweries and 22 other stocks.

The All-Share Index (ASI) advanced by 381.93 points (0.37%) to close at 104,233.81 points, while market capitalization climbed to N65.499 trillion.

The market upturn was fueled by price gains in large and medium-capitalized stocks including Nigeria Breweries, Ecobank Transnational Incorporated (ETI), Oando, Custodian Investment, and Fidelity Bank.

Looking ahead to post-Easter trading, analysts at Vetiva Dealings and Brokerage anticipate a slow start: "With the market heading into the Easter break, we expect a quiet beginning to the next session as activity typically decreases after holidays. However, recent momentum in banking and consumer goods sectors could maintain mild positive sentiment, though this week's weak buy-side turnover may temper overall risk appetite."

Market breadth showed slightly positive sentiment with 24 gainers versus 23 losers. Abbey Mortgage Bank led the gainers with a 9.94% increase, closing at N8.96 per share, followed by Nigeria Breweries (9.86%, N36.20), ABC Transports (9.23%, N1.42), Livestock Feeds (9.20%, N9.50), and ETI (8.94%, N29.25).

On the losers' side, SUNU Assurance topped with a 9.91% decline to N5.00, followed by Ellah Lakes (-9.76%, N3.05), Cornerstone Insurance (-9.44%, N2.59), Sovereign Trust Insurance (-9.18%, N0.89), and Universal Insurance (-7.55%, N0.49).

Trading volume increased by 7.01% to 376.292 million units valued at N7.906 billion across 11,204 deals. Universal Insurance led activity with 89.266 million shares worth N44.369 million, followed by Fidelity Bank (49.529 million shares, N915.905 million), Access Holdings (32.857 million shares, N715.327 million), Zenith Bank (15.577 million shares, N685.443 million), and Nigeria Breweries (15.418 million shares, N555.571 million).​​​​​​​​​​​​​​​​

Suspected Boko Haram terrorists attacked the newly resettled Yamtake community in Gwoza Local Government Area of Borno State, killing two soldiers and an unspecified number of civilians. The assault occurred around 11:15 pm on Thursday, with insurgents storming a military formation before reinforcements could arrive.

Ali Ndume (senator representing Borno South) confirmed the attack, praising troops for repelling an attempted infiltration of Gwoza town afterward. He called for stronger community defense forces and military support, including advanced technology and equipment, to counter persistent insurgent threats.

This attack follows recent violence in Borno, including an April 12 landmine explosion that killed eight on the Damboa-Maiduguri highway and a January raid on Malam-Fatori military base that left 22 soldiers dead.

In a separate incident, gunmen suspected to be bandits raided Faruruwa village market in Kano’s Shanono LGA on Thursday evening, killing two—including a man named Rabilu—and abducting a villager. Witnesses said the attackers targeted a businessman whose wife had previously been kidnapped for ransom.

Kano police spokesperson Abdullahi Kiyawa acknowledged the incident but said details were still emerging. The area, near Katsina State, has seen increased military patrols due to bandit activity.

Authorities in both states are yet to release official casualty figures as investigations continue.

Suspected armed militia launched deadly attacks on communities in Logo and Ukum Local Government Areas (LGAs) of Benue State, killing at least 17 residents, the state police command has confirmed.

The violence comes just days after gunmen killed 15 people in separate assaults on Otobi-Akpa, Emichi (Otukpo LGA), and Utonkon (Ado LGA) earlier in the week.

In a statement on Friday, Benue Police Public Relations Officer, Sewuese Anene, said five people were killed in Ukum and 12 in Logo, with many others injured and hospitalized.

According to Anene, security forces received intelligence late Thursday that a large militia group was mobilizing to attack communities in the Sankera axis, particularly Gbagir in Ukum.

"Upon receipt of this report, the Commissioner of Police, Steve Yabanet, immediately deployed tactical teams to reinforce officers on the ground," she said.

The police, alongside other security agencies, engaged the attackers and repelled them in the early hours of Friday. However, five bodies were recovered in Gbagir and later confirmed dead at a hospital.

"Simultaneously, another attack was carried out in Logo, where 12 persons were killed before police arrival, bringing the total fatalities to 17," Anene added.

Security forces pursued the assailants as they retreated toward forests near the Taraba border.

Benue has witnessed a surge in violent attacks in recent months, with armed groups frequently targeting rural communities. Authorities have yet to identify the perpetrators behind the latest killings.

Israeli strikes hit dozens of targets in Gaza as ceasefire efforts stall

Israeli airstrikes hit about 40 targets across the Gaza Strip over the past day, the military said on Friday, hours after Hamas rejected an Israeli ceasefire offer that it said fell short of its demand to agree a full end to the war.

Last month the Israeli military broke off a two-month truce that had largely halted fighting in Gaza and has since pushed in from the north and south, seizing almost a third of the enclave as it seeks to pressure Hamas into agreeing to release hostages and disarm.

Israeli Prime Minister Benjamin Netanyahu's office said he would make a special statement on Saturday evening but gave no detail on what it would be about.

Palestinian health authorities said that at least 43 people were killed in strikes on Friday, adding to more than 1,600 deaths since Israel resumed airstrikes in March.

The military said troops were operating in the Shabura and Tel Al-Sultan areas near the southern city of Rafah, as well as in northern Gaza, where it has taken control of large areas east of Gaza City.

Egyptian mediators have been trying to revive the January ceasefire dealthat broke down when Israel resumed airstrikes and sent ground troops back into Gaza, but there has been little sign the two sides have moved closer on fundamental issues.

Late on Thursday Khalil Al-Hayya, Hamas' Gaza chief, said the movement was willing to swap all remaining 59 hostages for Palestinians jailed in Israel in return for an end to the war and reconstruction of Gaza.

But he dismissed an Israeli offer, which includes a demand that Hamas lay down its arms, as imposing "impossible conditions".

Israel has not responded formally to Al-Hayya's comments, but ministers have said repeatedly that Hamas must be disarmed completely and can play no role in the future governance of Gaza.

On Friday, Defence Minister Israel Katz repeated that Israel intended to achieve its war aims.

"The IDF is currently working towards a decisive victory in all arenas, the release of the hostages, and the defeat of Hamas in Gaza," he said in a statement.

The ceasefire offer it made through Egyptian mediators includes talks on a final settlement to the war but no firm agreement.

Katz also said this week that troops would remain in the buffer zone around the border that now extends deep into Gaza and cuts the enclave in two, even after any settlement.

Reuters

WESTERN PERSPECTIVE

US will abandon Ukraine peace push if no progress soon, Trump and Rubio say

The United States will walk away from efforts to broker a Russia-Ukrainepeace deal unless there are clear signs of progress soon, U.S. President Donald Trump and Secretary of State Marco Rubio said on Friday.

"Quickly, we want to get it done," Trump told reporters at the White House. "Now if for some reason one of the two parties makes it very difficult, we're just going to say, 'you're foolish, you're fools, you're horrible people, and we're going to just take a pass. But hopefully we won't have to do that."

Trump's comments followed remarks by Rubio, his top diplomat, who said the sides had just days to show progress or Washington would walk.

"We're not going to continue with this endeavour for weeks and months on end. So we need to determine very quickly now, and I'm talking about a matter of days, whether or not this is doable in the next few weeks," Rubio said in Paris after meeting European and Ukrainian leaders.

"If it's not possible, if we're so far apart that this is not going to happen, then I think the president is probably at a point where he's going to say, 'well, we're done'."

Trump, when asked, declined to set a specific deadline for how long he was willing to wait.

"Marco's right in saying ... we want to see it end," Trump said. Asked if Russian President Vladimir Putin was stalling, Trump replied: "I hope not."

Over the past few weeks, Trump officials have acknowledged privately that the chances of a quick peace deal in Ukraine have grown elusive. Rubio's comments, three European diplomats said, reflected growing frustration in the White House over Russian intransigence to end the war.

Kremlin spokesman Dmitry Peskov said some progress on a peace settlement had already been made but that contacts with Washington were difficult. He said Russia was striving to resolve the conflict while ensuring its own interests. Moscow remained open to dialogue with the United States, he added.

U.S. officials were also frustrated by Ukrainian President Volodymyr Zelenskiy's comment this week that Trump's special envoy, Steve Witkoff, was "spreading Russian narratives," and said that was not helpful to the process, one U.S. official said.

The talks in Paris on Thursday were the first substantive, high-level and in-person talks on Trump's peace push that have included European powers. Rubio said a U.S. peace framework he presented received an "encouraging reception." Zelenskiy's office called the talks constructive and positive.

Vice President JD Vance, speaking in Rome as he met Italian Prime Minister Giorgia Meloni, said he was optimistic the United States could help end this "very brutal war".

A U.S. official said the sides would re-engage in London next week, giving Ukraine time to agree fully to a "term sheet" presented by Washington. Kyiv was ready for a comprehensive ceasefire over sea, land and air for at least 30 days or longer, the official said.

GROWING FRUSTRATIONS AS PEACE DEALS PROVE ELUSIVE

Trump promised during his election campaign to end the war in Ukraine within his first 24 hours in the White House. He moderated that claim on taking office, suggesting a deal by April or May as obstacles mounted.

He has pressured both sides to come to the negotiating table, threatening tougher sanctions on Russia or an end to billions of dollars in U.S. military support for Kyiv.

Both Ukraine and Russia showed up for U.S.-brokered talks in Saudi Arabia, which resulted in a partial ceasefire, but nothing more. Meanwhile, the war has continued, including a recent Russian missile attack that hit Sumy in northeastern Ukraine, killing 35 people - an attack Trump called a "mistake".

A source familiar with internal deliberations said Trump had made clear to his team he was questioning whether it was worthwhile sticking with the talks to break the impasse.

The first U.S. official said Rubio's comments were reflecting Trump's frustration with the issue and a concern that this will soon be "Trump's war."

If Washington walks away, efforts to broker a peace would likely founder because no other nation is able to bring similar pressure on both Moscow and Kyiv.

Other impacts are unclear. The United States could keep its current policy on the conflict unchanged, maintaining sanctions on Russia and keeping U.S. aid flowing to Kyiv. Alternatively, Trump could decide to halt payments to Ukraine.

Trump said on Thursday he expected to sign a minerals deal with Kyiv next week after an attempt in February fell apart following Zelenskiy's Oval Office clash with Vance and the Republican president.

Rubio said he spoke with Russian Foreign Minister Sergei Lavrov after the Paris talks and briefed him on elements of the U.S. peace framework.

Putin has said he wants Ukraine to drop its NATO ambitions, permanently cede to Russia the four regions it has lost and limit the size of its army. Kyiv says those demands are tantamount to demanding its capitulation.

However, Bloomberg reported on Friday that Washington was prepared to recognize Russian control of the Ukrainian region of Crimea, annexed by Moscow in 2014, as part of a broader peace agreement between Moscow and Kyiv.

Rubio said the Europeans had a central role to play in any peace pact, especially as their sanctions on Russia would likely need to be lifted to secure an accord.

He said the issue of U.S. security guarantees came up in the Paris talks, adding they were an issue "we can fix in a way that's acceptable to everyone." But, he cautioned, "we have bigger challenges that we need to figure out."

RUSSIAN PERSPECTIVE

Russian troops liberate four communities in Donetsk region over week — top brass

Russian troops liberated four communities in the Donetsk region over the week of April 12-18, including the settlement of Valentinovka in the past 24 hours in the special military operation in Ukraine, Russia’s Defense Ministry reported on Friday.

"Battlegroup South units liberated the settlements of Kalinovo and Valentinovka in the Donetsk People’s Republic through active operations… Battlegroup Center units liberated the settlements of Yelizavetovka and Preobrazhenka in the Donetsk People’s Republic through decisive operations," the ministry said in a statement.

Russia hammers Ukrainian military-industrial sites in nine precision strikes over week

Russian forces delivered nine strikes by precision weapons and attack unmanned aerial vehicles (UAVs) on Ukrainian military-industrial sites over the week, including a strike on the morning of April 18, the ministry reported.

"On April 12-18 this year, the Russian Armed Forces delivered nine combined strikes by precision-guided weapons and attack unmanned aerial vehicles, hitting enterprises of Ukraine’s military-industrial complex, the infrastructure of military airfields, warehouses of armament, ammunition, missiles, attack unmanned aerial vehicles and uncrewed boats, UAV operator training centers and temporary deployment sites of Ukrainian armed formations and foreign mercenaries," the ministry said.

On the morning of April 18, the Russian Armed Forces "delivered a combined strike by long-range precision weapons and unmanned aerial vehicles on key production sites of unmanned aircraft systems and infrastructure facilities of Ukraine’s military airfields," it said.

The goals of the strike were achieved and all the designated targets were struck, the ministry reported.

Russia’s Battlegroup North inflicts over 1,900 casualties on Ukrainian army in week

Russia’s Battlegroup North inflicted more than 1,900 casualties on Ukrainian troops and destroyed six enemy tanks and 39 armored combat vehicles in its areas of responsibility over the week, the ministry reported.

"During the week, Battlegroup North units continued destroying Ukrainian armed formations on the territory of the Kursk Region. Combat aircraft, unmanned aerial vehicles and artillery struck manpower and equipment of a tank brigade, four mechanized brigades, three air assault brigades and an assault regiment of the Ukrainian army, a marine infantry brigade and five territorial defense brigades," the ministry said.

In the Belgorod and Kharkov directions, Battlegroup North units inflicted losses on formations of five mechanized brigades, a motorized infantry brigade, an air assault brigade, a coastal defense brigade and an assault regiment of the Ukrainian army and four territorial defense brigades, it said.

The Ukrainian army lost more than 1,900 troops in that frontline area over the week. Sixty-four Ukrainian service members surrendered to Russian forces, the ministry said.

In addition, Russian forces destroyed six tanks, 39 armored combat vehicles, 99 motor vehicles, six multiple launch rocket systems, including two US-made HIMARS multiple rocket launchers, 46 field artillery guns, two surface-to-air missile systems, eight electronic warfare and counterbattery radar stations and ten ammunition and materiel depots of the Ukrainian army in those frontline areas over the week, it specified.

Russia’s Battlegroup West inflicts over 1,730 casualties on Ukrainian army in week

Russia’s Battlegroup West inflicted more than 1,730 casualties on Ukrainian troops and destroyed 30 enemy artillery guns, including seven NATO weapons in its area of responsibility over the week, the ministry reported.

"Battlegroup West units gained better lines and positions and inflicted losses on manpower and equipment of five mechanized brigades, a jaeger brigade, two assault brigades and an artillery brigade of the Ukrainian army, three territorial defense brigades and a National Guard brigade," the ministry said.

The Ukrainian army lost more than 1,730 personnel, two tanks, 13 armored combat vehicles, including three US-made M113 armored personnel carriers, 45 motor vehicles, 30 field artillery guns, among them seven NATO 155mm self-propelled artillery systems and howitzers, 12 electronic warfare and counterbattery radar stations and 21 ammunition depots in that frontline area over the week, it specified.

Russia’s Battlegroup South inflicts over 2,170 casualties on Ukrainian army in week

Russia’s Battlegroup South inflicted more than 2,170 casualties on Ukrainian troops and destroyed 35 enemy artillery guns in its area of responsibility over the week, the ministry reported.

During the week, Battlegroup South units "inflicted losses on formations of seven mechanized brigades, an airmobile brigade, three assault brigades, an artillery brigade, an unmanned aircraft systems regiment of the Ukrainian army, three territorial defense brigades, three National Guard brigades and the Azov special operations brigade [outlawed in Russia as a terrorist group]," the ministry said.

The Ukrainian army lost more than 2,170 personnel, two tanks, 27 armored combat vehicles, including four M113 armored personnel carriers and a Stryker armored fighting vehicle of US manufacture, 74 motor vehicles, 35 field artillery guns, among them four Western-made 155mm weapons, six electronic warfare stations, 27 ammunition, fuel and materiel depots in that frontline area over the week, it specified.

Russia’s Battlegroup Center inflicts over 2,680 casualties on Ukrainian army in week

Russia’s Battlegroup Center inflicted more than 2,680 casualties on Ukrainian troops and destroyed 20 enemy armored combat vehicles in its area of responsibility over the week, the ministry reported.

During the week, Battlegroup Center units "inflicted losses on manpower and equipment of six mechanized brigades, two assault brigades, an airborne brigade, three jaeger brigades, an unmanned systems brigade and an assault regiment of the Ukrainian army, a marine infantry brigade and four National Guard brigades," the ministry said.

The Ukrainian army lost more than 2,680 personnel, two tanks, 20 armored combat vehicles, including seven US-made M113 armored personnel carriers, 35 motor vehicles and 34 field artillery guns, among them six 155mm US-manufactured Paladin, French-manufactured Caesar and Polish-manufactured Krab self-propelled artillery systems in that frontline area over the week, it specified.

Russia’s Battlegroup East inflicts over 1,020 casualties on Ukrainian army in week

Russia’s Battlegroup East inflicted more than 1,020 casualties on Ukrainian troops and destroyed 18 enemy artillery guns in its area of responsibility over the week, the ministry reported.

"Battlegroup East units kept advancing deep into the enemy’s defenses and inflicted losses on formations of two mechanized brigades, a jaeger brigade, an airmobile brigade, an air assault brigade and a mountain assault brigade of the Ukrainian army, a marine infantry brigade, three territorial defense brigades and a National Guard brigade," the ministry said.

The Ukrainian army lost more than 1,020 personnel, a tank, eight armored combat vehicles, 20 motor vehicles, 18 field artillery guns, among them three NATO weapons and four electronic warfare stations in that frontline area over the week, it specified.

Russia’s Battlegroup Dnepr inflicts over 540 casualties on Ukrainian army in week

Russia’s Battlegroup Dnepr inflicted more than 540 casualties on Ukrainian troops and destroyed a US-made HIMARS multiple launch rocket system and 16 enemy ammunition depots in its area of responsibility over the week, the ministry reported.

"Battlegroup Dnepr units gained better lines and positions and inflicted losses on manpower and equipment of three mechanized brigades, a mountain assault brigade, three coastal defense brigades of the Ukrainian army and three territorial defense brigades," the ministry said.

The Ukrainian army lost more than 540 personnel, four armored combat vehicles and 56 motor vehicles in that frontline area over the week, it specified.

In addition, Russian forces destroyed a US-made HIMARS multiple launch rocket system, 12 field artillery guns, nine electronic warfare and counterbattery radar stations and 16 ammunition depots of the Ukrainian army, it said.

Russian air defenses down F-16 fighter, 1,618 Ukrainian UAVs over week

Russian air defense forces shot down an F-16 fighter aircraft and 1,618 Ukrainian unmanned aerial vehicles over the week, the ministry reported.

"Over the week, air defense capabilities shot down a Ukrainian Air Force F-16 aircraft, 45 JDAM guided aerial bombs and 29 rockets of the HIMARS multiple launch rocket system of US manufacture and 1,618 fixed-wing unmanned aerial vehicles," the ministry said.

Overall, the Russian Armed Forces have destroyed 661 Ukrainian warplanes, 283 helicopters, 52,592 unmanned aerial vehicles, 603 surface-to-air missile systems, 22,920 tanks and other armored combat vehicles, 1,541 multiple rocket launchers, 23,820 field artillery guns and mortars and 34,317 special military motor vehicles since the start of the special military operation, the ministry reported.

Reuters/Tass

Hedieh Mirahmadi

The Saturday between Good Friday and Easter Sunday is often shrouded in mystery and anticipation. While the crucifixion and resurrection command our attention, we must not overlook the profound significance of that silent Saturday.

It was a day filled with palpable tension, a day suspended between the agony of the cross and the triumph of the empty tomb. In that solemn silence, the world held its breath, waiting for the dawn of redemption that was yet to come.

What transpired in the depths of that day? What divine mysteries unfolded as the world waited? Let us explore the Scriptures, shedding light on the enigmatic journey of Jesus during those hushed hours.

What does God’s Word tell us about what happened that Saturday?

While some mysteries will remain unanswered until we get to Heaven, the Bible provides all we need for today, revealing not only past events but also timeless truths. 

One theory suggests Jesus proclaimed His victory to imprisoned demons from Noah's era. 1 Peter 3:18-20 tells us: 

“Christ died for sins once for all, the righteous for the unrighteous, to bring us to God. He was put to death in the flesh but made alive in the Spirit, in which He went and preached to the spirits in prison, those who were disobedient during Noah's time.”

Ephesians 4:7-9 speaks of grace given according to Christ's gift: “When He ascended on high, He led captive a host of captives, and He gave gifts to men.” This implies a descent into the lower parts of the earth before His ascent above the heavens.

Both passages suggest Jesus proclaimed victory to rebellious spirits, but He did not suffer in Hell, contrary to some teachings. David's words in Acts 2:24-29 echo this theme, as Peter recounts how God raised Jesus, ending death’s agony, fulfilling David’s prophecy that the Holy One would not be abandoned to Hades or undergo decay.

Could Jesus have gone to Hades to announce His victory and release men of faith?

Isaiah 61 foretells Jesus setting captives free, implying His descent to Hades was for those awaiting the Messiah, who accepted His call and were brought to Heaven. Men of faith who died before Christ couldn't enter Heaven without His atoning blood. Their sacrifices covered sin but didn't pay sin’s price.

After descending to Hades, Jesus ascended. On the cross, He assured the thief in Luke 23:42-43 that he would be with him in paradise. Jesus was with the Father in Heaven, alongside the faithful who died believing in Him.

As believers, we may find ourselves in “Silent Saturdays,” too, where God seems absent and our prayers unanswered. We feel tormented, wondering if God is angry or if we have disappointed Him. We see our struggles and question why He doesn't intervene.

However, we must remember that God's silence does not equal His absence. Just because we don't see it doesn't mean He isn't working. Just as Jesus knew God would not leave Him in the grave, we need to know that God will not leave us alone in our struggles. These “Saturdays” have a purpose: they allow us to experience the full force of God's strength and appreciate His intervention.

Though our waiting may feel like anguish, we have the opportunity to rest in the Father's security. In our suffering, we can experience a closeness to God that brings comfort, peace, and even joy. We can find Paradise in our pain because we know that Sunday is coming.

Jesus, with God's authority, declared freedom to souls held captive. The righteous dead, who had waited for redemption, saw their Savior. The chains of death started to break, as the Light of the World shone in the darkness.

This wasn't just a visit; it was a victory. He took the keys of death and Hades. Back in the tomb, His body remained, showing His full acceptance of humanity's fate. Yet, it was ready for glory. His descent into Hades ended sin's power, bridging the cross and the empty tomb. As Saturday ended, the world rested, unaware that the King had stormed death's gates, preparing for life to reign again. There, He faced the powers of darkness. Hades’ gates shook at His presence. Satan, who thought he'd won at the cross, now faced the One whose death was an act of love.

For these reasons, God allows a Saturday between our Fridays and Sundays. If today is a Saturday for you, take a moment to appreciate the wondrous, unseen events unfolding around you and the victory in Christ that awaits you on a future and glorious Sunday yet to come.

** Hedieh Mirahmadi was a devout Muslim for two decades working in the field of national security before she experienced the redemptive power of Jesus Christ.  She dedicates herself full-time to Resurrect Ministry, an online resource that harnesses the power of the Internet to make salvation through Christ available to people of all nations, and her podcast LivingFearlessDevotional.com. She is the author of the International Bestselling book"Living Fearless in Christ-Why I left Islam to Win Battles for the Kingdom."

A new study by the Edelman Trust Barometer, released in Lagos on Wednesday, reveals widespread discontent among Nigerians, with 70% accusing the government of deliberately misleading citizens. The report also highlights growing resentment toward the wealthy, with 74% blaming the rich for exacerbating the country’s economic struggles.

The annual survey, which measures public trust in government, businesses, NGOs, and media, found that 62% of Nigerians believe the wealthy evade fair taxation, while 52% now support aggressive activism to drive systemic change.

A Crisis of Trust and Grievance

Marking its 25th anniversary, the 2025 Edelman Trust Barometer—titled “Trust and the Crisis of Grievance”—surveyed over 33,000 people across 28 countries, including 1,150 Nigerians. Wandile Cindi, Senior Strategist at Edelman Africa, presented the findings, noting that Nigeria’s overall trust index rose slightly from 61 (2024) to 65 (2025). However, economic anxiety and job insecurity continue to fuel public frustration.

“There’s been a sharp increase in fears over automation and job losses,” Cindi said. “Even employers, once highly trusted, are losing public confidence.”

Government institutions remain the least trusted, scoring -46 in competence and -31 in ethics. Meanwhile, NGOs and businesses saw marginal trust improvements.

Global Trends vs. Nigerian Optimism

Globally, China, Indonesia, and the UAE top the trust rankings, while the UK, Germany, and Japan lag. Despite Nigeria’s challenges, 50% of citizens remain hopeful about the future—a higher optimism rate than many developed nations.

Yet, concerns over discrimination have surged, with 75% of Nigerians fearing prejudice—a 9% increase from 2024. This sentiment cuts across income levels, particularly affecting high earners.

A Call for Leadership and Reform

Cindi emphasized that restoring trust requires tangible action. “Institutions must act ethically and deliver results,” he said. “Businesses have a critical role in job creation, skills training, and fighting misinformation.”

He urged cross-sector collaboration, warning: “Grievance grows when people feel abandoned. Rebuilding trust must be a national priority.”

As Nigeria grapples with economic hardship and inequality, the report underscores an urgent need for accountability and reform to address deepening public disillusionment.

Nigeria LNG Limited (NLNG) has lost its appeal in a London court, cementing a $380 million compensation ruling in favor of oil trading firm Taleveras over a failed gas supply agreement.

The Court of Appeal of England and Wales on Wednesday affirmed the decision of a lower court, which had ruled that NLNG must indemnify Taleveras for payments the company was required to make to Vitol SA and Glencore Energy UK following a disrupted supply contract.

The case centered around a 2020 agreement in which NLNG—a joint venture between Nigeria’s state oil firm NNPC, Eni, Shell, and TotalEnergies—was to supply Taleveras with natural gas. However, between 2020 and 2021, NLNG failed to deliver 19 cargoes, leading Taleveras, which had already resold the gas to Vitol and Glencore, to miss out on significant profits—especially after gas prices surged following Russia’s invasion of Ukraine in 2022.

An arbitral tribunal under the United Nations Commission on International Trade Law awarded $24 million to Taleveras in January 2023 for lost profits and directed NLNG to indemnify the company for liabilities arising from related arbitrations with Vitol and Glencore. In December 2023, the Vitol arbitration tribunal awarded $233.3 million in damages against Taleveras.

NLNG challenged the indemnity directive in January 2024, arguing that the tribunal’s decision was dependent on a provision—paragraph 607—in the analysis section of the original arbitral award. The company maintained that the indemnity was subject to endorsement by the Vitol and Glencore arbitral tribunals, which it said was not granted in the dispositive section of the award.

Taleveras countered that the indemnity was unconditional and pointed to a final addendum and supplementary award issued by the Vitol tribunal, which explicitly confirmed that the damages awarded fell under the scope of NLNG’s indemnity.

NLNG further contended that the Vitol arbitrators had no jurisdiction to issue the addendum, arguing that the arbitration proceedings had already concluded.

In July 2024, High Court Judge Pelling KC ruled against NLNG, finding that the indemnity was not contingent on any further declaration from the Vitol or Glencore tribunals. He granted Taleveras the right to enforce the indemnity.

On appeal, the Court of Appeal upheld the High Court’s decision. Lord Justice Phillips, leading a three-judge panel, dismissed NLNG’s claim that the High Court had misinterpreted the arbitral award. He clarified that the disputed paragraph 607 did not contradict the dispositive section, which clearly set out binding orders.

“It is perhaps unfortunate that the tribunal used the words ‘further orders’ in paragraph 607 of its analysis section, but that loose wording does not come close… to undermining the clear structure of the Award,” Phillips said.

The appeal was unanimously dismissed, leaving NLNG legally obligated to pay the full compensation to Taleveras.

Taleveras, founded in 2004 by Nigerian businessman Igho Charles Sanomi, is based in Dubai and has long been active in global energy trading.

Hamas says it is ready to release all remaining hostages for an end to Gaza war

Hamas wants a comprehensive deal to end the war in Gaza and swap all Israeli hostages for Palestinians jailed in Israel, a senior official from the Palestinian militant group said, rejecting Israel's offer of an interim truce.

In a televised speech, Khalil Al-Hayya, the group's Gaza chief who leads its negotiating team, said the group would no longer agree to interim deals, adopting a position that Israel is unlikely to accept and potentially further delaying an end to the devastating attacks that restarted in recent weeks.

Instead, Hayya said Hamas was ready to immediately engage in "comprehensive package negotiations" to release all remaining hostages in its custody in return for an end to the Gaza war, the release of Palestinians jailed by Israel, and the reconstruction of Gaza.

"Netanyahu and his government use partial agreements as a cover for their political agenda, which is based on continuing the war of extermination and starvation, even if the price is sacrificing all his prisoners (hostages)," said Hayya, referring to Israeli Prime Minister Benjamin Netanyahu.

"We will not be part of passing this policy."

Egyptian mediators have been working to revive the January ceasefire agreement that halted fighting in Gaza before it broke down last month, but there has been little sign of progress with both Israel and Hamas blaming each other.

"Hamas’s comments demonstrate they are not interested in peace but perpetual violence. The terms made by the Trump Administration have not changed: release the hostages or face hell," said National Security Council spokesperson James Hewitt.

The latest round of talks on Monday in Cairo to restore the ceasefire and free Israeli hostages ended with no apparent breakthrough, Palestinian and Egyptian sources said.

Israel had proposed a 45-day truce in Gaza to allow hostage releases and potentially begin indirect talks to end the war. Hamas has already rejected one of its conditions - that it lay down its arms. In his speech, Hayya accused Israel of offering a counterproposal with "impossible conditions."

Hamas released 38 hostages under a ceasefire that began on January 19. In March, Israel's military resumed its ground and aerial offensive on Gaza, abandoning the ceasefire after Hamas rejected proposals to extend the truce without ending the war.

Israeli officials say that the offensive will continue until the remaining 59 hostages are freed and Gaza is demilitarized. Hamas insists it will free hostages only as part of a deal to end the war and has rejected demands to lay down its arms.

ISRAELI STRIKES

On Tuesday, the armed wing of Hamas armed said the group had lost contact with militants holding Israeli-American hostage Edan Alexander after the Israeli army attacked their hideout. Alexander is a New Jersey native and a 21-year-old soldier in the Israeli army.

The armed wing later released a video warning hostages' families that their "children will return in black coffins with their bodies torn apart from shrapnel from your army."

Israeli military strikes killed at least 32 Palestinians, including women and children, across the Gaza Strip on Thursday, local health authorities said.

One of those strikes killed six people and wounded several others at a UN-run school in Jabalia in northern Gaza Strip. The Israeli military said the strike targeted a Hamas command center.

The war was triggered by Hamas' October 7, 2023, attack on southern Israel, in which 1,200 people were killed and 251 taken hostage to Gaza, according to Israeli tallies.

Since then, more than 51,000 Palestinians have been killed in the Israeli offensive, according to local health authorities.

Reuters