Special Reports

Global oil prices plummeted to four-year lows Wednesday, with Brent crude crashing 3.4% to $60.69/barrel and WTI falling 4% to $57.22, as the U.S. imposed 104% tariffs on Chinese imports - a move that could cripple Nigeria's oil-dependent economy already reeling from production shortfalls and stalled reforms. Trade War Triggers Market Collapse The tariff escalation between the world's top two economies has sparked fears of a global recession, with Rystad Energy warning China's oil demand growth could drop by 100,000 barrels daily. The crisis compounds existing market pressures after OPEC+'s decision to increase output by 411,000 bpd in May. Goldman…
President Donald Trump announced his latest plan for tariffs on Wednesday afternoon during an event at the White House Rose Garden, which he said is going to focus on imposing reciprocal tariffs on U.S. trading partners. Trump's "Liberation Day" tariff announcementcomes after the conclusion of the trading day for U.S. financial markets, which have been rattled by uncertainty over tariffs in recent weeks. The S&P 500 is down about 3.9% year to date and the benchmark index's gains since Trump's election in November have been erased amid concerns about a widening trade war. "April 2nd, 2025, will forever be remembered…
Can anyone actually afford to live in the UK anymore? That’s the burning question posed by social media influencer Prudishfish in a now-viral video that has set off a storm of discussions about the country's economic future. Her blunt advice to young people—"If you're under 40, leave the UK"—has struck a chord with thousands, igniting debates on social media about rising costs, declining quality of life, and an exodus of the wealthy. Millionaires Are Leaving—Should You? In the video, Prudishfish highlights a troubling trend: a staggering 10,800 millionaires left the UK in 2024 alone, making it the second-highest wealth outflow…
Smokers are being urged to kick the habit for 2025 after a fresh assessment of the harms of cigarettes found they shorten life expectancy even more than doctors thought. Researchers at University College London found that on average a single cigarette takes about 20 minutes off a person’s life, meaning that a typical pack of 20 cigarettes can shorten a person’s life by nearly seven hours. According to the analysis, if a smoker on 10 cigarettes a day quits on 1 January, they could prevent the loss of a full day of life by 8 January. They could boost their…
Ushie Rita Uguamaye, a National Youth Service Corps (NYSC) member serving in Lagos, has become a symbol of the struggles faced by ordinary Nigerians under the administration of President Bola Tinubu. Her viral TikTok video, in which she openly criticized the government for its handling of the country’s economic crisis, has sparked a wave of sympathy and outrage after she alleged receiving threats from NYSC officials and the Lagos State government. In her emotional video, Rita expressed her frustration with the rising cost of living, which has made it nearly impossible for her to survive on her meager NYSC allowance.…
The 2024 State of the Nation Report has revealed that Nigeria’s life expectancy remains critically low at 54.6 years, significantly below the global average of 73.3 years. This is a stark difference of 18.7 years. The report, released on Tuesday in Abuja, highlights the devastating interplay of economic hardship, widespread insecurity, and inadequate healthcare infrastructure as key factors driving this alarming statistic. Against the backdrop of President Bola Tinubu’s economic policies, which have exacerbated hunger and poverty, the report underscores the urgent need for systemic reforms to address the nation’s deepening crises. Economic Policies and Rising Poverty President Tinubu’s administration…
March 6, 2025 – The 2025 Ọbafẹmi Awolọwọ Memorial Webinar, themed “Our 21st Century World: Reflections and Projections,” brought together a distinguished gathering of thought leaders, policymakers, and academics from around the world to reflect on the challenges and opportunities shaping the 21st century. Held on March 6, 2025, the event was chaired by former South African President Thabo Mbeki and featured keynote speaker Jeffrey Sachs, a globally renowned economist and sustainable development expert. The webinar, organized by the Ọbafẹmi Awolọwọ Foundation, aimed to honor the legacy of Ọbafẹmi Awolọwọ, a visionary leader whose commitment to knowledge-driven leadership, economic self-reliance,…
A recent report by the Cadre Harmonisé (CH) on Acute Food and Nutrition Insecurity has projected that 30.6 million people across 26 states and the Federal Capital Territory (FCT) will face a food crisis between June and August 2025. The report, conducted by federal and state governments with support from the Food and Agriculture Organization (FAO) and other development partners, highlights that this figure includes 150,978 Internally Displaced Persons (IDPs). Currently, an estimated 24.9 million people, including 116,765 IDPs, are already experiencing a food crisis, a situation that could worsen by May 2025. The CH analysis warns that during the…
As Nigeria grapples with a failing public power supply, skyrocketing electricity tariffs, and the looming threat of further tariff hikes, solar energy adoption has surged, driven by the urgent need for reliable and affordable energy solutions. Experts in the renewable energy sector have highlighted a significant increase in solar adoption over the past two years, attributing the trend to the deteriorating state of the national grid, rising fuel costs, and shifting public perception toward sustainable energy. The recent announcement by Nigeria’s Minister of Power, Adebayo Adelabu, regarding plans to increase electricity tariffs for Band B, C, D, and E customers…
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April 12, 2025

J.P. Morgan warns investors of rising risks for Nigeria as oil prices fall

U.S. investment bank J.P. Morgan has urged investors to exit long positions in Nigerian Open…
April 09, 2025

PDP governors challenge Tinubu's Emergency Rule in Rivers at Supreme Court

Eleven Peoples Democratic Party (PDP) governors have filed a lawsuit at the Supreme Court challenging…
April 13, 2025

The Church’s biggest problem isn’t bad leadership. It's this

Kerry Hasenbalg Idolatry is often thought of as an ancient sin involving golden calves and…
April 06, 2025

Excavation near site where Jesus was crucified and buried results in ancient discovery

Proof of an ancient garden, consistent with biblical scripture, has emerged at the holiest site…
April 13, 2025

Eight die, 11 injured as passenger van runs into explosive planted by terrorists in Borno

At least eight travellers were killed when an improvised explosive device (IED) exploded on the…
April 13, 2025

What to know after Day 1144 of Russia-Ukraine war

WESTERN PERSPECTIVE Russia launches scores of drones on Ukraine, four people injured, Kyiv says Russia…
April 10, 2025

FAAN introduces advanced luggage screening at Lagos airport, phases out physical checks

The Federal Airports Authority of Nigeria (FAAN) has discontinued manual luggage screening at Murtala Muhammed…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

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