Super User

Super User

MultiChoice Nigeria has announced a price increase for its DStv and GOtv subscription packages, effective March 1. This adjustment comes approximately one year after the company's previous rate hike.

The company notified customers via email on Monday, citing "prevalent economic factors leading to increased operational costs" as the reason for the price adjustment.

"We understand the impact this change may have on our valued partners, and we have only taken this step after careful consideration and in-depth analysis," MultiChoice stated. The company affirmed its commitment to "delivering high quality content and unparalleled service" to viewers across Nigeria.

New Pricing Structure

DStv Packages:

- Premium: ₦44,500 (previously ₦37,000)

- Compact+: ₦30,000 (previously ₦25,000)

- Compact: ₦19,000 (previously ₦17,000)

- Confam: ₦11,000 (previously ₦9,300)

- Yanga: ₦6,000 (previously ₦5,100)

- Padi: ₦4,000 (previously ₦3,600)

GOtv Packages:

- Supa+: ₦16,800 (previously ₦15,700)

- Supa: ₦11,400 (previously ₦9,600)

- Max: ₦8,500 (previously ₦7,200)

- Jolli: ₦5,800 (previously ₦4,850)

- Jinja: ₦3,900 (previously ₦3,300)

- Smallie: ₦1,900 (previously ₦1,575)

The Nigeria Customs Service (NCS) has retracted its earlier announcement regarding the implementation of a 4% Free on Board (FOB) import charge. The agency has called on stakeholders to update their declarations to facilitate the smooth clearance of goods.

In a statement issued by the National Public Relations Officer, Assistant Comptroller of Customs Abdullahi Maiwada, on behalf of the Comptroller-General of Customs, the NCS explained that the decision was made to ensure operational clarity, maintain consistency, and avoid potential disruptions in the clearance process.

The statement urged all affected parties to promptly revise their entries using the designated customs processing platforms. "The NCS has implemented measures to ensure a seamless transition. Customs commands across the country have been instructed to provide necessary assistance and clarification to importers and agents who may require support during this period," the statement added.

West Bank Palestinians fear Gaza-style clearance as Israel squeezes Jenin camp

Israeli bulldozers have demolished large areas of the now virtually empty Jenin refugee camp and appear to be carving wide roadways through its once-crowded warren of alleyways, echoing tactics already employed in Gaza as troops prepare for a long-term stay.

At least 40,000 Palestinians have left their homes in Jenin and the nearby city of Tulkarm in the northern West Bank since Israel began its operation just a day after reaching a ceasefire agreement in Gaza after 15 months of war.

"Jenin is a repeat of what happened in Jabalia," said Basheer Matahen, spokesperson for the Jenin municipality, referring to the refugee camp in northern Gaza that was cleared out by the Israeli army after weeks of bitter fighting. "The camp has become uninhabitable."

He said at least 12 bulldozers were at work demolishing houses and infrastructure in the camp, once a crowded township that housed descendants of Palestinians who fled their homes or were driven out in the 1948 war in what Palestinians call the 'Nakba' or catastrophe at the start of the state of Israel.

He said army engineering teams could be seen making preparations for a long-term stay, bringing water tanks and generators to a special area of almost one acre in size.

No comment was immediately available from the Israeli military but on Sunday, Defence Minister Israel Katz ordered troops to prepare for "a prolonged stay", saying the camps had been cleared "for the coming year" and residents would not be allowed to return.

The month-long operation in the northern West Bank has been one of the biggest seen since the Second Intifada uprising by Palestinians more than 20 years ago, involving several brigades of Israeli troops backed by drones, helicopters, and, for the first time in decades, heavy battle tanks.

"There is a broad and ongoing evacuation of population, mainly in the two refugee camps, Nur Shams, near to Tulkarm and Jenin," said Michael Milshtein, a former military intelligence official who heads the Palestinian Studies Forum at the Moshe Dayan Center for Middle Eastern and African Studies.

"I don't know what the broad strategy is but there's no doubt at all that we didn't see such a step in the past."

Israel launched the operation, saying it intended to take on Iranian-backed militant groups including Hamas and Islamic Jihad that have been firmly implanted in the refugee camps for decades, despite repeated Israeli attempts to root them out.

But as the weeks have gone on, Palestinians have said the real intention appears to be a large scale, permanent displacement of the population by destroying homes and making it impossible for them to stay.

"Israel wants to erase the camps and the memory of the camps, morally and financially, they want to erase the name of refugees from the memory of the people," said 85-year-old Hassan al-Katib, who lived in the Jenin camp with 20 children and grandchildren before abandoning his house and all his possessions during the Israeli operation.

Already, Israel has campaigned to undermine UNWRA, the main Palestinian relief agency, banning it from its former headquarters in East Jerusalem and ordering it to stop operations in Jenin.

"We don't know what is the intention of the state of Israel. We know there's a lot of displacement out of the camps," said UNRWA spokesperson Juliette Touma, adding that refugees enjoyed protected status regardless of their physical location.

'MILITARY OPERATION'

The camps, permanent symbols of the unresolved status of 5.9 Palestinian refugees, have been a constant target for Israel which says the refugee issue has hindered any resolution of the decades-long conflict.

But it has always held back from clearing them permanently. On Monday, Israeli Foreign Minister Gideon Saar denied that the operation in the West Bank had any wider purpose than combating militant groups.

"It's military operations taking place there against terrorists, and no other objectives but that," he told reporters in Brussels where he met European Union officials in the EU-Israel Association Council.

But many Palestinians see an echo of U.S. President Donald Trump's call for Palestinians to be moved out of Gaza to make way for a U.S. property development project, a call that was endorsed by Prime Minister Benjamin Netanyahu's cabinet.

Nabil Abu Rudeineh, spokesperson for Palestinian President Mahmoud Abbas, said the operation in the northern West Bank appeared to be repeating tactics used in the Gaza, where Israeli troops systematically displaced thousands of Palestinians as they moved through the enclave.

"We demand that the U.S. administration force the occupation state to immediately stop the aggression it is waging on the cities of the West Bank," he said.

Israeli hardliners inside and outside the government have called repeatedly for Israel to annex the West Bank, a kidney-shaped area around 100 kilometres long that Palestinians see as the core of a future independent state, along with Gaza.

But pressure has been tempered by fears that outright annexation could sink prospects of building economic and security ties with Arab states, including Saudi Arabia, and face a veto by Israel's main ally, the United States.

However, hardliners have been heartened by the large number of strongly pro-Israel figures in the new U.S. administration and by Trump himself, who said earlier this month that he would announce his position on the West Bank within weeks.

 

Reuters

RUSSIAN PERSPECTIVE

Zelensky has ‘no chance’ of winning a fair election – Putin

Russian President Vladimir Putin has stated that Vladimir Zelensky has “absolutely no chance” of winning a fair election due to his low approval ratings and the internal political situation in Ukraine.

Zelensky’s five-year presidential term expired in May 2024, but he has refused to hold new elections, citing martial law. The question of his popularity was raised last week by US President Donald Trump, who branded Zelensky a “dictator without elections” who is “down at a 4% approval rating.”

Speaking on Monday, Putin noted that Zelensky’s popularity is significantly lower than that of potential rival General Valery Zaluzhny, the former commander of Ukraine’s armed forces. In an interview with journalist Pavel Zarubin, Putin suggested that if other political figures backed Zaluzhny, Zelensky’s chances of reelection would be “absolutely zero.”

“They are equal to zero. Unless, of course, something is grossly rigged, but this is also bad for him – it will be very noticeable,” Putin stated.

“The fact is that the current head of the Kiev regime is becoming a toxic figure for the Ukrainian armed forces because he gives absurd orders dictated not by military considerations, but by political ones, and it is unclear what they are based on,” Putin said. He added that Zelensky’s leadership had resulted in “unjustifiably large or catastrophic losses,”making him “toxic for society as a whole.”

“Therefore, [Zelensky] is a factor in the disintegration of the army, society, and the state. And President Trump certainly understands this and is pushing him toward elections,” Putin said, adding that Trump apparently “wants to improve the political situation in Ukraine, consolidate society, and create conditions for the survival of the Ukrainian state.”

Putin has repeatedly said that he no longer considers Zelensky the legitimate head of state. Trump has also recently questioned Zelensky's leadership, accusing him of mismanaging the conflict with Russia and misusing American financial aid.

Zelensky accused Trump of falling for “Russian disinformation,” citing a January poll that allegedly indicated 57% of Ukrainians trusted him. However, data cited by The Economist last week suggested that Zelensky would lose to Zaluzhny by a wide margin if elections were held today, as many Ukrainians are clearly frustrated with their war leader.”

According to Putin, Zelensky – who has banned himself from talks with Moscow – is actively sabotaging any peace process, as it would require lifting martial law, which allows him to remain in power. Without martial law, the country would be compelled to hold elections, a scenario Putin believes Zelensky is determined to avoid.

 

WESTERN PERSPECTIVE

UN Security Council adopts neutral US stance on war in Ukraine as Trump pursues end to conflict

The United Nations Security Council on Monday adopted a U.S.-drafted resolution on the third anniversary of Russia's invasion of Ukraine that takes a neutral position on the conflict as U.S. President Donald Trump seeks to broker an end to the war.

The short resolution reflects Trump's upending of U.S. policy on Ukraineafter taking office last month and his more conciliatory stance towards Russia. In contrast, former president Joe Biden's administration led efforts at the United Nations to support Ukraine throughout the war.

Russia's U.N. Ambassador Vassily Nebenzia acknowledged "constructive changes" in the U.S. position on the conflict. He told the council the resolution was "not an ideal one," but "a starting point for future efforts towards peaceful settlement."

The 15-member U.N. Security Council had been deadlocked throughout the war and unable to take any action because Russia holds a veto.

But the 193-member General Assembly has repeatedly supported Ukraine's sovereignty and territorial integrity and called for a just, lasting and comprehensive peace in line with the U.N. Charter.

The U.S. failed earlier on Monday to convince the General Assembly to pass the same three-paragraph resolution adopted by the Security Council.

The resolution mourns the loss of life in the "Russia-Ukraine conflict", reiterates the U.N.'s purpose is to maintain international peace and security and peacefully settle disputes, and urges a swift end to the conflict and a lasting peace.

Security Council resolutions are considered binding, while General Assembly resolutions are not. However, General Assembly resolutions carry political weight, reflecting a global view on the war.

The Security Council adopted the U.S. resolution with 10 votes in favor, while France, Britain, Denmark, Greece and Slovenia abstained. Russia voted in favor after failing to amend it and vetoing European bids to add language supporting Ukraine.

"This resolution puts us on the path to peace. It is a first step, but a crucial one – one of which we should all be proud," acting U.S. Ambassador to the U.N. Dorothy Shea told the council. "Now we must use it to build a peaceful future for Ukraine, Russia and the international community."

'NO EQUIVALENCE'

However, Trump's approach to mediation has left Ukraine and European allies wary of his focus on Russia and worried they could be cut out of talks to end the war.

Britain's U.N. Ambassador Barbara Woodward told the council that the terms of peace in Ukraine matter and must "send a message that aggression does not pay."

"This is why there can be no equivalence between Russia and Ukraine in how this council refers to this war. If we are to find a path to sustainable peace, the council must be clear on the war's origins," she said.

French U.N. Ambassador Nicolas de Riviere - whose President Emmanuel Macron met with Trump in Washington on Monday - said that while France was "fully committed to peace in Ukraine, we call for comprehensive, just and lasting peace, and certainly not for capitulation of the victim."

The General Assembly earlier adopted two resolutions, one drafted by Ukraine and Europeans and one drafted by the U.S. that was amended by the assembly to include its long-held language supporting Ukraine. Those votes gave Ukraine and European states a diplomatic victory over Washington.

"This war has never been about Ukraine only. It is about a fundamental right of any country to exist, to choose its own path and to live free from aggression," Ukraine's Deputy Foreign Minister Mariana Betsa told the assembly before the vote.

The amended U.S.-drafted resolution won 93 votes in favor in the assembly, while 73 states abstained and eight voted no. Russia failed in a bid to amend the U.S. text to include a reference to the "root causes" of the conflict.

The resolution drafted by Ukraine and European countries passed with 93 votes in favor, 65 abstentions and 18 no votes. Along with the United States, some other countries that voted no were Russia, North Korea and Israel.

 

RT/Reuters

I have always been intrinsically and instinctively opposed to oppression, seeing and perceiving that the world could attend to the welfare demands of many, if not most, of the inhabitants of the world without much sweat. My idea of a life worth living is to always identify with the underdogs and keep a tab on their sufferings and how those could be ameliorated. This naturally puts me in the progressive camp of politics in terms of the organization of society, even if I do not play partisan politics, with the idea that society could be better organized to attend to the welfare needs of the (mass) of the people. And the philosophical starting point and standpoint has to be liberalism - the idea that humans are so diverse as to want to have the opportunity of listening to each and every one as part of that diversity. It was such an interesting and insightful perspective to humans’ reality for me as I soaked in the basic respect for human dignity intrinsic to these platforms, affording me the chance of wanting to listen to others and be concerned about them and their interests.

To be sure, humanity has benefited immensely and tremendously and indeed remarkably from the development outreaches of these platforms over the years as to become for many the representation of that non-limitation of human, evidence of what height and depth the human mind could bring about in terms of development and organization ad infinitum, making almost the argument for the limitlessness of humans and humans’ minds. And here is where I part ways as this was way an overreach on the fundamentals of both liberalism and progressive politics. How could we be talking of the limitlessness of humans when the reality is that humans are limited in every possible way in the long run due to imperfection and fallibility? How could humans with limited knowledge and limited capacity even for knowledge be limitless?

Here liberalism rather than following its starting point of deriving from God whose creation provides the diversity making for the need to have a thousand flowers bloom, becomes anti-God, preferring to invest humans with sovereignty and making it possible to contemplate existence outside of God.

With human beings invested with sovereignty and the absence of the need to look for direction from or even recognize the existence of a higher power, the implication has been a progressive and steady decline into everything anti-God and opposed to God. Now we know that humans pretend that there are many gender(s) and sex(es) in the world beyond male and female even as nobody has been able to show a human that is truly neither a male nor female. The uselessness of the transgender argument is plainly out there as there is nothing concrete to the experimentation with human body development under the unceasing application and influence of drugs and surgeries.

The argument here is that there is no philosophical justification for anti-God sentiments and actions under liberalism, properly so called, as it even immerses itself in and originates and luxuriates from the divine provision of diversity in the world. How could respect for diversity through a philosophical acknowledgement of such diversity translate into a fight with and against God, the originator and owner and creator of diversity? For many of us, being liberal is even an act in the service of the diversity provided by God and we do not see any contradiction in being a liberal and believer in God at the same time. Those who are overreaching themselves are the ones setting up anti-God sentiments for themselves as if that would further advance liberalism.

Real liberalism rests on the idea and belief in God and there is enough reason not to get involved in the overreach madness if only one is truly interested in and wants to find satisfaction in real liberalism!

** Olaitan, Professor of Political Science, was Vice-Chancellor, Olabisi Onabanjo University, Ago-Iwoye, Ogun State.

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The seed oil versus animal fat debate has gone from a niche topic among wellness influencers on social media to an entire movement.

Perhaps you've already heard of the "Hateful Eight" — not the movie, but the list of oils to supposedly avoid, including canola and corn. Seed oil naysayers claim these plant-based cooking oils are "toxic" or lead to chronic diseases, neither of which are backed by scientific evidence.

Many critics promote swapping seed oils for animal fats like butter, beef tallow and lard. Just two decades after the fat-free era of the early 2000s, people are now fighting about which fat is best.

While it's true that not all fats or oils are equal, the recent discourse has left many confused. So, which is better for you — seed oils, or animal fats?

What are seed oils?

Seed oils are a type of vegetable oil extracted from the seeds of plants, Dr. Nate Wood, director of culinary medicine at the Yale School of Medicine, tells TODAY.com.

All seed oils are vegetable oils, but not all vegetable oils are seed oils. Other vegetable oils may be extracted from the fruit or pulp of the plant, such as olive, avocado and coconut oils.

“Seeds are a high-fat food ... so we take the seeds and extract all the fat out of them and leave behind the fiber and the protein,” Wood says.

These seeds go through multiple processes to become cooking oil.

First, the seeds are usually pressed, which extracts the oil by crushing the seeds, Lena Beal, cardiovascular dietitian and spokesperson for the Academy of Nutrition and Dietetics, tells TODAY.com.

Seed oil may also go through chemical extraction, which uses solvents to separate the oil from the seeds.

After extraction, most seed oils are refined to remove particles, improve the taste and shelf-life, and make the oil more heat-stable.

Are seed oils healthy?

Seed oils are healthy when consumed in moderation as part of a healthy, balanced diet, the experts note.

"Seed oils are largely unsaturated fats, which we know are really healthy," says Wood. These include polyunsaturated and monounsaturated fats, which are "good" fats.

The goal is to consume more good fats and fewer “bad” or unhealthy fats (saturated and trans fats), per the American Heart Association.

Unsaturated fats can lower LDL, or "bad" cholesterol, and boost HDL, or "good" cholesterol. “They’re really good at protecting against heart disease,” says Wood. Unsaturated fats in these oils can also lower the risk of stroke, support brain function and improve blood sugar levels, TODAY.com previously reported.

Seed oils are generally higher in polyunsaturated fats, which provide essential omega fatty acids that our body can't produce on its own. "Most seed oils have a good amount of omega-6, and smaller amounts of omega-3," says Beal.

Unrefined seed oils contain more nutrients than highly refined seed oils, but both can be part of a healthy diet, the experts note.

Why are seed oils controversial?

Seed oils get a bad rap for a few reasons, says Wood. Many critics believe seed oils are harmful because they have a high omega-6 content and they’re found in ultraprocessed foods. Some people also say the refining process makes seed oils "toxic."

Nutritional science can be confusing, but any claims that seed oil is poisonous are “scientifically wrong,” Gardner says.

Omega-6s in seed oils

Seed oils contain high levels of omega-6 unsaturated fatty acids, which are controversial because some are linked to inflammation, particularly when a person doesn't get enough anti-inflammatory omega-3 fatty acids, TODAY.com previously reported.

While it's true that our body uses some omega-6s as precursors to create inflammatory molecules, this can be a good thing, says Wood.

"Part of what (omega-6s) do is they help the immune system work on an inflammatory response," Christopher Gardner, Ph.D., professor of Medicine at Stanford University, tells TODAY.com. This is how the body attacks germs, fights infections and heals injuries, Wood adds.

Omega-6s play a smaller role than omega-3s in protecting heart health, but they can still lower LDL — which is why the AHA supports including seed oils as part of a healthy diet.

“We have decades of evidence on how those omega-6 fatty acids are heart-healthy when you replace the saturated fats in your diet,” says Gardner.

However, it's important to get a balanced ratio of omega-6s to omega-3s, which are found mostly in fish and nuts, says Wood. The American diet is very high in omega-6s. “The reason isn’t because we’re cooking with canola oil. It’s because we’re eating lots of ultra-processed foods,” says Wood.

Seed oils in processed foods

We know ultraprocessed foods, aka junk foods, are bad for us, says Wood. Research shows they're linked to poor health outcomes and mortality. “Ultraprocessed foods also have lots of seed oils in them," says Wood. People conflate these two ideas and blame seed oils, says Gardner.

“They’re attributing the adverse health consequences to the seed oils, when, in fact, it’s the junk food as a whole. It’s the sugar, the salt, the added ingredients," says Gardner. Ultraprocessed foods often contain refined carbohydrates and little to no nutrients.

Replacing the seed oils in ultraprocessed foods with lard and beef tallow would make them even worse, Gardner adds.

The refining process of seed oils

Another claim is that “industrial seed oils,” as many critics call them, are “toxic” because they are highly processed. "It’s the idea that we take a seed, a natural thing, then we hyper-process it into (oil) and through that process, it becomes something that’s not good for our health,” says Wood.

However, there is no scientific evidence to support these claims, the experts say. “They’re not poison,” Wood adds.

The refining process can remove some nutrients, but it also makes the oil more heat-stable and less prone to oxidization, which can release harmful free radicals, or unstable molecules that may increase the risk of cancer, says Beal. Other vegetable oils also go through refining, as do some animal fats.

If you’re concerned about processing, the experts recommend first cutting out ultraprocessed foods.

What are animal fats?

Animal fats are lipids derived from animals, including beef, pork and poultry. Common animal fats include:

These fats are often rendered, which involves cooking the fat until it liquifies and can be separated from the meat. Animal fats may be refined to remove impurities and improve the smell or color, per the American Oil Chemists' Society.

Butter is made by agitating milk cream to separate the liquid. Ghee, a staple in Indian cuisine, is butter that's been clarified by cooking it to remove all the milk solids.

Animal fats are largely saturated fat, the experts note. “These are typically solid at room temperature,” says Beal. Some animal fats contain a small amount of monounsaturated fats, Beal adds.

Are animal fats healthy?

Animal fats, such as butter or tallow, aren't exactly superfoods, but they may be healthy when eaten in moderation occasionally, as part of a healthy diet, the experts note.

The main issue is their high saturated fat content, which can raise "bad" LDL cholesterol. "Saturated fats are not beneficial in any way," says Wood.

However, animal fats do have some positive qualities. They're a good source of energy and rich in nutrients, such as fat-soluble vitamins, says Beal. These include vitamins A, D and E. "They also have stearic acid, which is beneficial," Beal adds.

Animal fats tend to be more stable and add more flavor when cooking. “There’s a cultural element ... and it's a way to reduce food waste,” says Wood.

However, many nutrition experts say the risks of regularly eating animal fats outweigh the benefits. “The more saturated fat you eat, the more bad cholesterol you have in your blood, and that’s what leads to plaque, heart disease and strokes,” says Wood.

A 2024 study that followed over 407,000 people for 24 years found that a diet high in animal fat was associated with a higher risk of dying from any cause.

“We can eat some saturated fat, but when I say some, I mean a small amount," says Beal. The AHA recommends limiting saturated fat to less than 6% of your total calories.

Is seed oil or animal fat healthier?

Seed oils are generally considered healthier than animal fats due to their high unsaturated fat content, which is linked to a number of benefits backed by research, according to the experts.

“There is a lot of evidence for the benefits of getting rid of saturated replacing it with polyunsaturated fats,” says Gardner.

Population studies show people who replace animal-based fats, such as butter or tallow, with seed oils tend to have a lower LDL cholesterol and lower rates of heart disease, Gardner says. "Your overall risk of mortality also goes down," Wood adds.

However, it's important to consider how you use the oil. The smoke point, or the temperature at which oil burns, is a big factor, says Beal.

The omega-6 fatty acids in seed oils can degrade and oxidize when heated to high temperatures, says Beal. “Oxidized fat is not good for you,” Wood adds. Burned oil should be tossed, and oils should never be re-used, the experts say.

Animal fat does not oxidize as rapidly at its smoke point as vegetable oils, but it can still burn and become rancid.

Moderation is also key, says Beal. The serving size of oil is small, just one tablespoon. “Cook with it, don’t drink it," Gardner adds.

Although there's no clear evidence to support using animal fat instead of seed oil, you don't have to avoid animal fat entirely. "If you have a healthy diet full of nutritious foods and eat a little butter, you'll be fine," says Wood.

“Animal fat tastes really good, but I’m not trying to convince myself that it’s good for me,” Wood adds.

What is the healthiest oil to cook with?

Extra virgin olive oil or avocado oil are the healthiest cooking oils, the experts say. These are rich in heart-healthy monounsaturated fats, which help boost good cholesterol, and other nutrients.

Unrefined oil is better, says Beal, but has a lower smoke point. The experts suggest using different cooking oils for different purposes.

“If you’re frying or grilling, I’d say avocado or refined olive oil. For sautéing or baking, extra virgin olive oil. Then for salads or drizzling, I’d also use EVOO or another unrefined oil, like sunflower," says Beal.

What is the healthiest animal fat?

If you're going to cook with animal fat, Beal recommends opting for minimally processed fats from grass-fed, pasture-raised animals.

Grass-fed butter, for example, comes from cows that only eat grass, which leads to higher levels of heart-healthy omega-3 fatty acids and conjugated linoleic acid, TODAY.com previously reported.

Whether you use seed oils, animal fats or a combination, it’s important to have a balanced diet full of nutrient-dense, whole foods. “What you’re cooking with the oil is just as important,” says Gardner.

 

Today.com

The recent launch of Ibrahim Babangida’s autobiography, “A Journey in Service”, and the accompanying fundraising for his Presidential Library, is a grotesque spectacle that underscores the moral bankruptcy of Nigeria’s ruling elite. It is a gathering of the very individuals who have, through their actions and inactions, contributed to the systemic decay and chronic underdevelopment of Nigeria. The event, attended by former and current rulers, business moguls, and traditional rulers, was not a celebration of service or legacy but a parade of villains rewriting history to absolve themselves of their crimes against the Nigerian people.

Babangida, a former military dictator whose eight-year rule was marked by corruption, political repression, and economic mismanagement, has the audacity to express regret over the annulment of the June 12, 1993, election—a decision that set Nigeria on a path of prolonged political instability and suffering. While he now admits that the election was “credible, free, and fair,” his belated acknowledgment is nothing more than a feeble attempt to whitewash his legacy. The annulment of that election, which was won by Moshood Abiola, was not just a political misstep; it was a deliberate act of betrayal against the Nigerian people, whose hopes for democracy were crushed under the weight of military tyranny.

Babangida’s claim that the annulment was orchestrated by Sani Abacha and other military officers without his permission is laughable. As the head of state, he was ultimately responsible for the decisions made under his watch. His attempt to shift blame to the late General Abacha, who was his chief of defence staff at the time, is a cowardly evasion of accountability. The truth is that Babangida’s regime was characterized by a culture of impunity, where the rule of law was subverted, and the will of the people was disregarded. His so-called regret is too little, too late, and does nothing to undo the damage inflicted on Nigeria’s democratic aspirations.

What is even more appalling is the obscene display of wealth at the book launch, where Nigerian business elites pledged billions of Naira for the IBB Presidential Library. These donations, coming from individuals who amassed their fortunes through questionable means during Babangida’s regime, are a slap in the face of ordinary Nigerians who continue to suffer the consequences of his misrule. The billions donated for the library could have been used to address the pressing needs of the Nigerian people—education, healthcare, infrastructure, and poverty alleviation. Instead, they are being squandered on a vanity project aimed at glorifying a man whose legacy is one of failure and betrayal.

The event was a stark reminder of the collusion between Nigeria’s political and business elites, who have consistently prioritized their personal interests over the common good. It is a testament to the culture of impunity that has allowed those who plundered the nation’s resources to not only escape justice but to be celebrated as heroes. The IBB Presidential Library, described as a “national institution,” is nothing more than a monument to the hypocrisy and moral decay of Nigeria’s ruling class. It is an attempt to rewrite history, to sanitize the crimes of the past, and to perpetuate the lie that those who have ruined Nigeria are its saviors.

But there is hope. The ordinary Nigerians who have borne the brunt of the misrule and malfeasance of their rulers are awakening to the reality that they cannot rely on the same elites who have failed them time and again. The resilience and determination of the Nigerian people, who continue to strive for a better future despite the odds, are a source of inspiration. The day will come when the oppressed and abused masses of Nigeria will rise up and take charge of their country and destiny. They will document the true history of Nigeria—a history that will expose the villains for who they are and celebrate the genuine heroes who fought for justice, democracy, and the common good.

The launch of Babangida’s autobiography and the fundraising for his Presidential Library may be a celebration of villainy, but it is also a reminder of the urgent need for accountability and justice in Nigeria. The Nigerian people deserve leaders who are truly committed to their welfare, not self-serving individuals who rewrite history to suit their narratives. The elite may rewrite their story in gilded pages, but the people hold the true narrative in their hearts and their scars. One day, they will rise to reclaim their country and their destiny, tearing down the edifices of lies erected by these villains.

The future of Nigeria lies in the hands of its people, and it is they who will ultimately determine the course of their nation’s history. The villains may revel in their moment, but the people’s time is coming, and with it, a reckoning long overdue.

The federal government has deployed a massive N12 trillion (approximately $8 billion) in market interventions to artificially prop up the naira, according to Bismarck Rewane, Chief Executive Officer of Financial Derivatives Company.

The temporary strengthening of the naira to N1,500 against the dollar masks significant underlying economic pressures and unsustainable market manipulation, Rewane revealed in a Channels Television interview on Friday.

"We've actually spent almost $8 billion trying to support the naira at current levels," Rewane explained, highlighting how this short-term stabilization relies heavily on borrowed funds, including $4 billion in new bond issues, rather than organic economic growth.

Rewane, who serves on the Nigerian Economic Summit Group's Board, warned against celebration of the current exchange rates, pointing out that the naira's purchasing power parity (PPP) remains significantly weaker at N1,102 to the dollar. This gap between market rate and fundamental value suggests the current appreciation is unlikely to hold.

The intervention-driven stability comes amid concerning economic indicators: money supply growth remains elevated at 17%, interest rates are high, and foreign reserves have declined from $42 billion to approximately $38 billion – even as the country takes on more external debt to finance currency support operations.

Market analysts note that without addressing fundamental economic challenges, the current exchange rate levels cannot be maintained indefinitely, especially given the substantial cost to the nation's reserves and rising debt burden.

Rewane also challenged the credibility of recent inflation figures, suggesting they don't reflect economic realities faced by average Nigerians. "There's no way that inflation can reduce by 10% in a short period. The man on the street does not believe that inflation has come down as sharply as that," he stated.

While the naira has shown a nominal appreciation of 9% in 2025, experts caution that this improvement, achieved through massive government intervention rather than economic fundamentals, is likely temporary and unsustainable at current levels.

The combination of depleting reserves, increased external borrowing, and persistent structural economic challenges suggests the current exchange rate stability may be short-lived, with a market correction expected once intervention capacity diminishes.​​​​​​​​​​​​​​​​

Nigeria's currency in circulation has reached an unprecedented N5.24 trillion in January 2025, with an alarming 90.4% of this cash – N4.74 trillion – being held outside the banking system, according to latest Central Bank of Nigeria (CBN) data.

This represents a dramatic 43.5% surge from January 2024's N3.65 trillion, highlighting growing concerns about the effectiveness of Nigeria's cashless policy and financial inclusion efforts. The amount held outside banks has similarly jumped by 44.5% from N3.28 trillion in January 2024.

The year-long trend shows persistent growth in both metrics:

Q1 2024 saw steady increases, with circulation rising from N3.65 trillion in January to N3.87 trillion in March. The proportion of cash outside banks remained consistently above 89%.

Q2 maintained the upward trajectory, reaching N4.05 trillion by June, with over 93% of currency circulating outside the formal banking sector.

Q3 began with a brief dip in July, when cash outside banks temporarily decreased to N3.67 trillion. However, the trend quickly reversed, with circulation expanding to N4.31 trillion by September.

Q4 marked accelerated growth, as total currency in circulation surged from N4.55 trillion in October to N4.88 trillion in November, before hitting January 2025's record high.

The persistent high percentage of currency outside the banking system suggests significant challenges in Nigeria's push toward a more formalized financial system, despite various digital banking initiatives and financial inclusion programs.

This trend raises questions about the effectiveness of monetary policy transmission and the central bank's ability to monitor and control money supply effectively when such a large proportion of currency operates outside formal banking channels.

The continued preference for cash transactions also indicates potential challenges in tax collection and anti-money laundering efforts, as transactions outside the banking system are harder to track and regulate.​​​​​​​​​​​​​​​​

A recent report by S&P Global has revealed that the Dangote Petrochemical Refinery is currently meeting up to 60% of Nigeria’s domestic gasoline (petrol) demand. This significant milestone underscores the refinery’s pivotal role in stabilizing the nation’s fuel supply and reducing reliance on imported petroleum products, marking a transformative shift in Nigeria’s energy landscape.

The report contrasts with earlier claims by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, which stated that the country’s three operational refineries contributed less than 50% of daily petrol consumption. Since its commissioning in January 2024, the Dangote Refinery, with a capacity of 650,000 barrels per day (b/d), has been a focal point of attention, promising to drastically reduce Nigeria’s fuel import deficit by catering to the bulk of the domestic market.

Exceeding analyst expectations, the refinery began operating its critical gasoline unit, the Residue Fluid Catalytic Cracker (RFCC), in September 2024. Officials have projected that the facility will reach full production capacity by mid-March 2025. A Dangote Group executive disclosed in late January that the refinery was producing over 30 million liters of gasoline daily, achieving an 85% utilization rate. This output, equivalent to approximately 200,000 b/d, covers a significant portion of Nigeria’s estimated daily gasoline demand of 350,000 b/d, as per S&P Global Commodity Insights.

Despite initial skepticism from market observers regarding production volumes, the refinery’s growing output has significantly reduced Nigeria’s gasoline imports. In January 2025, import volumes plummeted to a historic low of 62,000 b/d, down from an average of 200,000 b/d in 2024. Traders noted that the decline in imports was largely offset by supplies from the Dangote Refinery, with some residual volumes sourced from the transshipment hub in Lome, Togo.

However, questions remain about the refinery’s exact production figures and distribution logistics. Some traders expressed doubts about the reported 85% utilization rate, suggesting that smaller vessels transporting gasoline from Lome might not be fully accounted for in import data. Nevertheless, industry sources agree that the Dangote Refinery is the primary driver behind the sharp decline in Nigeria’s gasoline imports.

Ikemesit Effiong, a partner at Lagos-based SBM Intelligence, attributed the reduction in imports primarily to the Dangote Refinery. “They’re supplying the market at surprisingly high volumes,” he said, noting that several major retailers had switched to sourcing products from the refinery. “Many NNPC retail outlets are currently underprovisioned and not selling, while Dangote-supplied stations are operating smoothly.”

The refinery’s impact is also being felt internationally, with European exporters experiencing reduced demand from Nigeria.

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