DatIgalaDude: The Chinese have this policy in place for all countries.
This is to safeguard state secret.
Them fit use knack reset person brain, Make e begin steal state secrets
The last paragraph emphasizing on the use of "knack" cracked me up. The human animal is indeed something else... Revealing "state secrets" induced by knacks. Lol
The 🌎 World’s 3,028 billionaires are spread across more than 800 cities around the globe, from Feldmeilen, Switzerland to Ezulwini, a small town in the western part of Eswatini–better known by its former name, Swaziland, in southern Africa.
Yet nearly a quarter of them, worth a combined $3.3 trillion, have chosen to make their primary residence in one of just ten cities in six countries, according to Forbes’ latest World’s Billionaires list.
The Big Apple is home to the most billionaires yet again, with 123 of them–worth a combined $759 billion. New York City has ranked as the top city for billionaires for all but one of the past 12 years. (Beijing was No. 1 in 2021.) Of the billionaire New Yorkers, 68 are finance and investment magnates, 13 are real estate moguls and 12 are in fashion and retail.
Moscow comes in second place, with 90 billionaires–16 more than a year ago. The growth in billionaire residents pushed Moscow ahead of Hong Kong, which tied for the No. 2 city last year. Moscow’s billionaires are worth $409 billion.
Hong Kong, one of three Chinese cities in the top ten, is No. 3, with 72 billionaires.
Here are the cities with the most billionaires in 2025:
Indeed, it's the same Forbes-listed USD billionaire suspects living in the same top cities as usual. New York is the "cream of the crop" being a major business and financial markets hub.
Yet nearly a quarter of them, worth a combined $3.3 trillion, have chosen to make their primary residence in one of just ten cities in six countries, according to Forbes’ latest World’s Billionaires list.
The Big Apple is home to the most billionaires yet again, with 123 of them–worth a combined $759 billion. New York City has ranked as the top city for billionaires for all but one of the past 12 years. (Beijing was No. 1 in 2021). Of the billionaire New Yorkers, 68 are finance and investment magnates, 13 are real estate moguls and 12 are in fashion and retail.
gmo10: Well said The same land reclaiming process is going on in Banana Island too.
Been to Eko Atlantic on several occasions; it's amazing. Tinubu is a genius.
@gmo10
Indeed, the foresight of former Governor Bola Tinubu of Lagos State and his team in partnering with Chagoury Group to rescue Victoria Island from the horrendous waves of the Atlantic Ocean which would have buried the entire Island right now and threatened Ikoyi Island, Lagos Island, Lekki Peninsula, etc,(due to rising ocean waters caused by climate change which has melted some of the largest icebergs in the North Pole and South Pole) was pure genius. NO right thinking person can fault him on that majestic project which raised the already eroded land from the former Bar Beach area back to glory to form Eko Atlantic City like the mythical Egyptian Phoenix.
Referencing the Banana Island reclamation you talked about, I've been aware that a significant part of those reclamations are illegal and since about 2020 right till 2025 warning shots have been fired by the Lagos State government to those illegally extending the original Banana Island master plan and shoreline. The irresponsible attitude of some folks to NOT wanting to do things legally needs to be studied as a special case study in human obstinence. You CAN'T do these sorts of land violations in Singapore and China otherwise you'll face the full weight of the law and it's time for Lagos State to make scapegoats out of those doing this. There's an ecological reason why existing landmasses are NOT extended through land reclamation in some places to protect the existing natural flow of water from being obstructed while natural water flows from the lagoons right into the oceans.
zero8zero: Operatives of the Ondo State Security Network codenamed Amotekun Corps have rescued 28 Ghanaians kidnapped and held at the Oda area of Akure, the Ondo State capital.
The Ghanaians were lured to Akure by a 28-man syndicate under the false pretense of procuring United States of America visa for them after paying between $1,500 and $2,000. Upon arrival, they were kidnapped and held hostage by the syndicate until they lured another victim.
The Ondo Amotekun operatives also recovered N210,000 from kidnappers who abducted a family of four and demanded a ransom of N10m.
Commander of Ondo Amotekun, Adetunji Adeleye, spoke at a press briefing while parading 61 suspects arrested for kidnapping, cultism, vandalism and anti-open grazing.
Adeleye said the recently launched Operation Daadaa by Governor Lucky Aiyedatiwa conducted coordinated operations in forests at Ose, Akure North, and Akure South local government areas leading to release of kidnapped victims.
According to the Amotekun boss: “My advice to young men, please ensure you deal with credible people in your quest to seek for greener pastures abroad. These 28 suspected kidnappers have defrauded thousands of people, and it’s an international syndicate being coordinated by a Ghanaian resident in Akure, though at large.
“The syndicate operates by calling unsuspecting individuals in foreign countries, offering assistance with U.S. or Canadian visa processing for a fee of $1,500 – $5,000. They also promise jobs, claiming that the only route is through Nigeria. Upon arrival in Lagos, agents pick them up, bring them to Akure, and then seize their money.
They are held hostage until they recruit another victim. “We’re sure that the long hand of justice will catch up with him. There are so many profitable ventures that you can engage on as a young man in Nigeria. I want to encourage you that now that the Ayedatiwa-led government is resolute in guaranteeing security of lives and property in the state, you can equally join the wagon in the agricultural sector.
“And a note of warning to those that are occupying the forest illegally. The position of the government is for you to be in the forest reserves of Ondo State, you must seek and obtain government permission. We have met with the leadership of the Miyetti Allah and various groups, and we’ve made the position of government known.
“The era of bringing two, three hundred men behind few bags of rice under the guise of coming to hunt, or coming to offload 10 bags of rice, hiding behind the rice is gone in Ondo State.
Security agencies at the borders had been alerted to send such trucks back once we find more than 10 people who do not have a destination back to where they are coming from.
“Equally, the government of Ondo State has placed a ban on the use of Okada after 8 p.m. with effect from today. So many nefarious activities are been perpetrated by these unknown Okada riders who had found their way from different parts of the country to kidnap, rob, rape, and main unsuspecting members of the public.
“In the same vein, the era of the use of unlicensed vehicles plying the road has ended. This is because majority of these evil perpetrators goes around with fake dealer numbers, fake number plates, and majority of them with unlicensed vehicles. You have one week effective from today to regularize your vehicle particulars.” https://thenationonlineng.net/amotekun-rescues-28-ghanaians-recovers-ransom/
OAFMods: You are wasting your time explaining what is fact to a hopeless bigot that chose ro ruin his pathetuc life on NL. Imagine Diya orchestrated a coup n no single soul was shot or killed.
I perfectly understand you.
As a veteran user of NL for exactly 20 years now since 2005, I know the incidious monikers who relentlessly push false or misleading narratives and propaganda. I'm NOT wasting my time correcting him. I largely did that so that the younger folks here and other folks online would NOT be misled by organized disinformation.
obyno82: Oga in the Oputa panel Adisa said indeed a coup was planned. Let us stop the lies, it is just like Oshiomhole attacking Humphrey Nwosu on June 12 whereas Oshiomhole was Pascal Bafiyau's deputy president of NLC when the same NLC refused to support Abiola and distanced themselves from June 12 when abiola picked Kingibe as his running mate over Bafiyau. Now years later the same Oshiomole is trying to twist history with lies. The only labor union that stood by June 12 was NUPENG whose secretary Frank Kokori was jailed by Abacha.
I have NO time for needless propaganda here and will NOT discuss this topic again as I have limited time to focus on what is historically CLEAR with a digital trail.
You have to get history in the right context here. The progessive print and electronic media back in the late 1990s clearly referred to that alleged Diya coup as a "phantom coup" for very obvious reasons. If you had carefully read my original post properly, you would have understood me better and you are also having a convo with a man who vividly witnessed these horrendous events back in the 1990s.
A "phantom military coup" was planned from within Abacha's gang to test the loyalty of his real and perceived opponents. This is what General Adisa was referring to because he thought a real coup plot was being planned. NO real military coup took place. Get this clearly for posterity sake!
General Olusegun Obasanjo, General Shehu Yar'Adua (former President Umaru Yar'Adua's older brother) and many innocent people were framed up by Abacha's military dictatorship and imprisoned just to get rid of people who spoke out against his government. Femi Falana, Olisa Agbakoba, the fearless Mrs Ayo Obe, Sen. Shehu Sani, several innocent journalists, students and more were framed up by Abacha's goons. A bomb was planted to explode at Allen Avenue junction where a bus carrying military men was passing by to incite the military men further against the pro-democratic movement. A lot was done by Abacha's evil "Strike Force" team to frame people up, assassinate and bomb several high-profile people to death such as Alhaja Kudirat Abiola, the bombing to death of both Bagauda Kaltho and the Chief Security Officer of Murtala Muhammed International Airport, the deadly assassination of Chief Olu Onagoruwa's son, the deadly attempt by Sergeant Rogers and the Strike Force military intelligence to kill Chief Alex Ibru the founder of Guardian newspaper (who was seriously injured and had to undergo a major surgery to save his life), and Chief Abraham Adesanya (the iconic NADECO boss who bravely NEVER left Nigeria on exile to avoid being killed) whose vehicle was shot multiple times at close range but the bullets didn't kill him. Barnabas Jabila (aka Sergeant Rogers) confessed to taking part in these operations in a long video that is still online.
A word is enough for the wise. I will end this topic and convo right here.
Lifestone: But late Gen Adisa confessed that indeed a coup was planned.
That's exactly what I clarified for all to see and read. Read my original post which I updated again and you will see where I CLEARLY stated that he was framed up OR set up to confess to that so-called coup that was widely known in the print and electronic media back in the late 1990s as a "Phantom Coup." It NEVER took place in reality but it was a major setup using Abacha's agents from within to get rid of perceived or potential opponents of Sani Abacha who wanted to contest for the Presidency as a civilian. This was open knowledge back in 1996 and beyond.
The fact that there's a supposed doctored videos of Oladipo Diya and Abdulkareem Adisa online which I'm aware of doesn't mean it is historically true that a real coup took place. It was all mind games being played to manipulate the emotions of Nigerians and the world by a paranoid military dictatorship and his deadly Strike Force team. I must commend the fighting spirit of many NADECO members, the brave media led by guerrilla journalists such as Bayo Onanuga, Kunle Ajibade both of the NEWS Magazine, Odion Akhaine, and many more, including lawyers such as Femi Falana, Mrs Ayo Obe who were arrested and Jailed, Olisa Agbakoba, Senator Shehu Sani who was one of the few Northerners who was jailed by Sani Abacha and stood for democracy and the truth back then in the 1990s till the end, higher institution students, etc.
I hope you have better clarity now. It was a case of the more you look, the less you see if you are NOT a discerning person.
frog12: so is sergeant rogers in prison for the assassination?
He isn't as of today BUT he is still alive. He has since been released after serving years in prison. I updated my original post that you quoted because I spotted a few typographic errors. You can read it again for better clarity.
That deadly assassination should have led to the death penalty for Hamza Al-Mustapha and his henchmen, but then, they will still reap what they sowed. Rogers did confess in the video which is still online from the Oputa Panel that he was the one that shot her because he was doing a national assignment that could not be disobeyed being that it was a military intelligence operation.
That wasn't a coup at all. Those of us who were alive and old enough at that time vividly remember the details of what happened. It was a deadly frame up led by Major Hamza Al-Mustapha (who should have faced the death penalty today, BUT is now into politics) and his very deadly Strike Force team which he led. They had wanted to get rid of General Oladipo Diya through a bomb which was intended to be planted on his plane as he was getting ready to fly to a location, BUT as fate would have it, the Northern military guy who was detailed to plant the bomb was killed when the bomb exploded right at the airport, and Diya had to speak up in the media wondering who wanted to kill him. This was well publicized in especially the fearless Lagos State-based print and electronic media and in other Southern States. NTA was totally used to suppress accurate information and spread disinformation by the military dictatorship back in the 1990s.
It was then that General Oladipo Diya and others were finally framed up and made to make spurious confessions that were secretly filmed by these ruthless people military uniforms.
Sergeant Barnabas Jabila (aka Sergeant Rogers) from Borno State himself openly confessed and told the whole world without duress during the Oputa Panel under OBJ's government that it was Major Al-Mustapha that sent him and others to assasinate Alhaji Kudirat Abiola in Lagos State in 1996, Chief Alex Ibru, Chief Abraham Adesanya, and more. It was "Sergeant Rogers" of the Israeli-trained criminal Strike Force working for Sani Abacha who pulled the trigger that killed Alhaja Kudirat Abiola in 1996 near the Lagos-Ibadan Expressway toll gate located at the Lagos end.
Many people were framed up, beaten, and disappeared forever under Abacha's gang of ruthless minions. Bagauda Kaltho from what is now Gombe State got killed as well in a planned bomb blast. That is how far those military criminals working for Sani Abacha went to ruthlessly eliminate opponents.
Mynd44: You are right. One of the reasons Egypt is building a new capital from ground up is to prevent what happened that led to regime change. A way to protect future governments.
Nigeria did something similar when we moved the capital city from Lagos to Abuja. It was a way to shield governments from coups and the likes.
It kind of worked though as Nigeria has only experienced one coup since moving the capital to Abuja
The administrative capital of Nigeria was hurriedly and finally moved from Lagos Island (NOT the entire Lagos State as being erroneously pushed around by some highly uninformed younger people) on December 12, 1991 to the newly constructed FCT (Abuja) by the ruthless military dictatorship of Ibrahim Babangida as you rightly stated because of that deadly Major Gideon Gwaza Orkar-led military coup or insurrection of April 22,1990 that nearly took Ibrahim Babangida's life in Lagos but for loyal military forces who turned things around. That day remains indelible for me because some Northern States of Nigeria (Old Kano State, Old Sokoto State, Old Kaduna State, Old Bauchi State, and Old Borno State) were irresponsibly excised in a speech by Gideon Orkar from the rest of Nigeria without taking into consideration that indigenous minority ethnic groups who were also non-Muslims existed in all those States listed above. Key locations such as the Federal Radio Corporation of Nigeria (FRCN) Lagos had also been seized by Orkar's renegade group.
So for more clarity, since the Gideon Orkar coup, there hasn't been any coup in Nigeria aside from maybe in 1993 when the Ernest Sonekan-led "Interim Government" was eased out by that criminal of a military dictator called Sani Abacha who brazenly stole over $4 billion of Nigeria's money through the Nigerian Central Bank into foreign offshore bank accounts in the Caribbean, Europe, and more. Some of the billions in USD stolen by this late military dictator above are still being returned gradually as of today to Nigeria. Military rule has largely been far worse for Nigeria and many countries of the world because you would be killed if you challenge them, get locked up on trumped up charges, freedom of speech is ruthlessly curtailed, and the military dictatorships have a habit of eliminating and killing other noble military men who they find are not in their support.
Biodun556: People have been asking whether Nigeria can build such administrative capital like Egypt but they forgot that Abuja was a city built from the scratch. There are picture evidence that Abuja was a forest calved out from Kogi and other States.
Egypt Administrative capital was not built for economic returns. It was built to shield the military government in a civilian cloth from revolution and mass protest reason it was hurriedly packaged. There were revolutions and canter revolution in Egypt as result of mass protest and culminated in the death of thousands of people between 2010 and 2015, reason why there is need to shield the present government from the masses.
The new administrative capital was financed with loan compare with Eko Atlantic that is private investment driven.
Which is more amazing between a city that is built on the desert and the one that rose from Atlantic Ocean?
So, Nigeria has done what Egypt did decades ago and still doing it now.
Indeed, Eko Atlantic evolved through a Public-Private Partnership (PPP) project between Lagos State under the former Governor Bola Tinubu and the Lebanese-Nigerian Chagoury Group from what was originally solid land in Iruland (the original Yoruba name of Victoria Island) area bordering the former Bar Beach that had been washed away by the raging Atlantic Ocean from the 1990s to the 2000s. If that hadn't been done, the entire Victoria Island that relentlessly got flooded by the horrendous waves of the Atlantic Ocean would have been washed off of precious land right into the Atlantic Ocean (similar to what is currently going on in the areas directly on the shores of the Atlantic Ocean such as Araromi and environs in Ondo State and communities in Bayelsa State) and threatened the destruction of nearby Ikoyi Island, Lagos Island, and Lekki Peninsula.
Eko Atlantic City simply restored the ORIGINAL solid land boundary that existed back in the 1950s to 1980s, by using very advanced dredging devices to get washed away sand from the nearby sea floor right back up to reclaim the land. So, it's NOT that sand was brought from a far away location to restore the land used for Eko Atlantic City.
With the United States new diplomatic mission, First Bank Holdings, Television Continental Headquarters, hotels and more high profile organisations building structures and moving over to the well-planned Eko Atlantic City, the place is gradually taking shape, BUT it will take some more time to gain critical mass. A lot still has to be done to upgrade the city which has a sea wall to prevent any future ocean rise and more.
SocialJustice: Ogunlesi is officially British, when Nigerian billionaires were being recognised by Nigerians on Twitter, him and Awotona were omitted because they are not officially Nigerians. We should continue maintaining that energy. What a shame.
All these emotional people quoting me, go and do something meaningful. You will receive no sexual release from me. Officially Ogunlesi is not a Nigerian, I'm not the one who caused it. Leave me alone jor.
@SocialJustice
First off, your moniker name emphasizes "TRUTH." Therefore YOU should NOT only exude "social justice" but TRUTH in your real world actions. Except you are just pulling their legs in your remarks, you were rightly corrected about the strong Nigerian roots of the brilliant septuagenarian, Adebayo Ogunlesi, CON [a Commander of the Order of the Niger], who is a lawyer and investment banker, yet you stuck to your opinion while incorrectly claiming he's "officially not a Nigerian." The younger ones here online and impressionable folks would end up reading the "little disinformation" in your post and get misled.
Second, in reality, the Forbes and Bloomberg Billionaires Index-listed billionaire, Adebayo Ogunlesi [who has been married to British-born retired optometrist Dr. Amelia Quist-Ogunlesi since 1985 with two male children] is a pure indigene of Makun in Sagamu where he was born, right in Ogun State which is the same home town of the former unified World Heavyweight boxing champion, Anthony Olufemi Joshua who is paternally from the Sagamu Royal family. He had his Nigerian passport and citizenship way before he may have acquired any other citizenship.
Third, NOT just that, I'm aware that Ogunlesi visits Nigeria regularly and on April 14, 2023, he and the Ogun State Governor and his team visited the site of the soon to be commissioned "Gateway International Cargo Airport," Ilisan-Remo, in Ogun State, being constructed by Craneburg Construction as you can see in the second weblink right ABOVE. Ijebu folks are known to be fiercely connected to their Yoruba ancestral roots and this gentleman has NEVER denied being a Nigerian and Nigeria officially allows dual citizenship as of today.
Adebayo Ogunlesi =>https://www.forbes.com/profile/adebayo-ogunlesi/ Goldman Sachs has appointed Adebayo Ogunlesi, a Nigerian investment banker and private equity tycoon, to its board of directors.
Even the globally influencial Forbes lists Bayo Ogunlesi as a Nigerian investment banker as can be seen in the weblink directly right ABOVE (although since Mr. Ogunlesi currently lives in the United States where he had been an advisor on President Donald Trump's economic team from 2016 to 2017 during h Trump's first-term in office among several high-profile roles since the 1980 in the legal and investment banking fields), Forbes recently listed Adebayo Ogunlesi, Tayo Awotona (who was born in Lagos, Nigeria), and Wemimo Abbey (the 33 year old Lagos-born co-founder of Esusu Financial), under the American-based category among the Forbes top Black USD billionaires of 2024.
Ogunlesi's son buys $500k ring for American actor's ex-wife =>https://punchng.com/ogunlesis-son-buys-500k-ring-for-american-actors-ex-wife/ 16 Nov 2024 — Geoffrey Ogunlesi, 33, the son of the United States-based Nigerian billionaire, Adebayo Ogunlesi, has bought a diamond engagement ring... Geoffrey, meanwhile, is the founder and CEO of The Ogunlesi Group, an entertainment and music management company based in the United States.
I hope that gives you a far BETTER perspective and helps everyone reading this as well.
FreeStuffsNG: This Is incredibly huge and loud! Congratulations to Chief Bayo Ogunlesi for making us proud once again.
Chief Bayo Ogunlesi keeps disrupting himself and raising the bar in multi-billion dollar deals with huge impact.
May God bless Nigeria for ever!
Here are some facts about him.
Adebayo "Bayo" O. Ogunlesi (born December 20, 1953) is a Nigerian-born lawyer and investment banker. Ogunlesi is currently Chairman and Managing Partner at the private equity firm, Global Infrastructure Partners (GIP). Ogunlesi was the former head of Global Investment Banking at Credit Suisse First Boston before being promoted to Chief Client Officer and Executive Vice Chairman.
Ogunlesi is from Makun, Sagamu, Ogun State in Nigeria. He is the son of Theophilus O. Ogunlesi, the first Nigerian professor of medicine at the University of Ibadan. His family is of Yoruba origin.
Ogunlesi went to King's College, Lagos, a secondary school in Lagos, Nigeria. He received a B.A. with first class honors in Philosophy, Politics, and Economics from Oxford University in England. In 1979, he received a J.D. magna cum laude from Harvard Law School and an M.B.A. from the Harvard Business School, which he pursued at the same time. During his time at Harvard, he was on the Harvard Law Review.
FreeStuffsNG: Nigerian Billionaire, Adebayo Ogunlesi, Leads BlackRock’s $23bn Acquisition of Panama Canal Ports
Months after President Donald Trump had been hammering Panama over its most valuable asset, the Panama Canal, an investment group led by BlackRock, a giant American asset manager, has agreed to buy two ports in the place owned by a Hong Kong company.
BlackRock will buy the ports, which sit at either end of the canal, and over 40 others from the Hong Kong conglomerate, CK Hutchison, for about $23 billion. Though Trump has other complaints about the canal, he said it charges too much.
President José Raúl Mulino of Panama appeared to downplay the geopolitical implications of the proposed acquisition, describing the deal in a social media post as “a global transaction, between private companies, motivated by mutual interests.”
Adebayo Ogunlesi, Founding Partner, Chairman & Chief Executive Officer Global Infrastructure Partners (GIP), a subsidiary of BlackRock, will lead the move to acquire the key port operations near the Panama Canal in the deal.
As part of the agreement, GIP will manage the newly acquired assets in partnership with Terminal Investment Limited (TIL) and other strategic partners.
Under Ogunlesi’s leadership, GIP has grown into the world’s largest independent infrastructure manager, overseeing more than $100 billion in assets. The firm’s infrastructure equity funds alone account for $60 billion of its portfolio, reinforcing its position as a global leader in infrastructure investment
For BlackRock, it’s the latest sign of its desire to expand beyond what it has historically been known for — managing trillions of dollars for everyday investors in stock and bond funds. BlackRock is buying the ports through GIP, an investment firm it bought last year for almost $13 billion that owns and operates many ports, airports and data centres.
The conversations between the BlackRock-led consortium and executives at CK Hutchison, which is owned by the Li family, one of Asia’s wealthiest, began a few weeks ago, according to a person familiar with the discussions.
The Li family believed it was under political pressure to exit the ports business, particularly its holdings in the Panama Canal, the person said, according to the New York Times.
The Panama Canal provides a crucial shortcut, connecting the Pacific and Atlantic Oceans. Vessels do not need to stop at Panama’s ports to go through the canal. Trump has frequently said he wants the United States to retake control of the waterway, which it ceded to Panama in 2000.
In a joint statement by BlackRock Consortium and CK Hutchison, seen by THISDAY, both companies said they were pleased to announce that they had reached in principle agreements whereby the BlackRock-TiL Consortium will acquire 90 per cent interests in Panama Ports Company, which owns and operates the ports of Balboa and Cristobal in Panama.
“The Transaction will proceed separately on confirmation by the Government of Panama of the proposed terms of the purchase and sale. Acquisition of the HPH Ports Sale Perimeter will proceed on an expedited basis subject to the BlackRock-TiL Consortium conducting normal and usual confirmatory due diligence, settlement of definitive documentation, receipt of any necessary regulatory approvals, amongst others.
“The aggregate Enterprise Value for 100 per cent of HPH Ports Sale Perimeter including the Panama Ports has been agreed at $22.8 billion. The allocation of transaction proceeds between the PPC Transaction and the HPH Transaction has also been agreed in principle.
“Fundamental and Essential Terms of the PPC Transaction and the HPH Transaction have also been agreed in principle, subject to definitive documentation. The PPC Transaction definitive documentation is expected to be signed on or before 2nd April 2025.
“Pending signature of the definitive documents CK Hutchison and HPH have entered into exclusive negotiation and non-disclosure arrangements with the BlackRock-TiL Consortium which will be given full access to information and documentation for purposes of conducting confirmatory due diligence,” the statement said.
Speaking on behalf of BlackRock, Chairman and Chief Executive Officer Larry Fink said: “This agreement is a powerful illustration of BlackRock and GIP’s combined platform and our ability to deliver differentiated investments for clients.
“These world-class ports facilitate global growth. Through our deep connectivity to organisations like Hutchison and MSC/TIL and governments around the world, we are increasingly the first call for partners seeking patient, long-term capital. We are thrilled our clients can participate in this investment.”
Speaking on behalf of Global Infrastructure Partners (GIP), a part of BlackRock, GIP Chairman and Chief Executive Officer, Ogunlesi said: “We are delighted to partner with Terminal Investment Limited and MSC, with whom we have a longstanding and productive relationship, to make an offer for certain interests in ports owned and operated by Hutchison Ports Holdings.
“Given GIP’s substantial expertise in owning and operating ports, together with our partners, we can focus on our joint ambition for these assets to continue to be world-class ports operators which are competitive, efficient, commercial and service-focused.”
Speaking on behalf of Terminal Investment Limited (TiL), Chairman of TiL and President of the MSC Group Diego Aponte said: “Our relationship with Hutchison Ports goes back a long way and is a relationship of mutual respect and friendship.
“Furthermore, we are very pleased to partner with BlackRock and Global Infrastructure Partners (GIP), with whom we share a longstanding relationship. We have a very high regard toward the Hutchison Ports management team, and once this transaction closes, we look forward to welcoming them into our larger family. We are very focused on this industry, and we know that the investment in Hutchison Ports will be a very viable investment commercially.”
Speaking on behalf of CK Hutchison, Co-Managing Director Mr. Frank Sixt said:
“This Transaction is the result of a rapid, discrete but competitive process in which numerous bids and expressions of interest were received.
“As a result, the Transaction valuation agreed in principle is compelling, and the Transaction is clearly in the best interest of our shareholders. After adjusting for minority interests and repayment of certain shareholder loans due from HPH to CK Hutchison, the Transaction would be expected to deliver cash proceeds in excess of US$19 billion to our Group.
“I would like to stress that the transaction is purely commercial in nature and wholly unrelated to recent political news reports concerning the Panama Ports.
“It must be noted that, however, the transaction does remain subject to confirmatory due diligence, settlement of definitive documentations, and normal and usual completion procedures, adjustments and conditions as well as compliance by HPH with the rights of minority shareholders under existing shareholders agreements relating to the Sold HPH Interests.”
CK Hutchison has operated the Balboa and Cristóbal ports since 1997, when Panama granted the company 25 year concessions for the facilities. The concessions were renewed for another 25 years in 2021. The BlackRock investment group will be buying the companies that own the port concessions.
In the past several days, executives at BlackRock, including Laurence D. Fink, its chief executive, and a board member, Adebayo Ogunlesi, briefed Trump; the Treasury secretary, Scott Bessent; the secretary of state, Marco Rubio; and others on the deal, according to two people involved in the deal. The administration was supportive, they added.
The Li family specifically sought an American buyer, one of the people briefed on the discussions said. There were three other bids for the deal, another person familiar with the deal said.
Frank Sixt, a co-managing director at CK Hutchison, said in a statement that the deal was “purely commercial in nature and wholly unrelated to recent political news reports concerning the Panama ports.”
This is BlackRock’s largest infrastructure deal ever and it is doing the deal with a partner known as Terminal Investment Limited, which operates ports served by the world’s largest container shipping company, Mediterranean Shipping.
The deal adds to Terminal Investment’s portfolio of ports in Europe and Latin America, and in addition to operating ports in the Panama Canal, the buyers were particularly interested in CK Hutchison’s ports in Asia.
Trump had also taken aim at the fees that the Panama Canal charges shipping companies to use the waterway. The fees have gone up in recent years, but the Panamanian agency that runs the canal has said droughts, investments in upgrades and sheer demand were responsible for the increases.
That's a huge deal consisting of a 90% stake in the Panama Canal concessioned assets. The Hong Kong company, CK Hutchison which currently is in charge of the ports near Panama Canal, definitely sought an American investment group like Black Rock/GIP for that purpose.
USA, Netherlands, partner Lagos in upscaling potentials in agric-eco system
Olasunkanmi Akoni
The United States of America and the Netherlands Governments, have expressed commitment to support the Lagos State Government towards upscaling her potentials in the Agriculture eco-system aimed at boosting food production and ensuring security in the state for over 24 million populace.
The State Ministry of Agriculture and Food Systems also received accolades for the deliberate policies and initiatives that has widened the Agriculture sector and food value chains by creating new opportunities for young farmers and entrepreneurs.
USA, Netherlands, partner Lagos in upscaling potentials in agric-eco system
February 9 2925 Olasunkanmi Akoni
The United States of America and the Netherlands Governments, have expressed commitment to support the Lagos State Government towards upscaling her potentials in the Agriculture eco-system aimed at boosting food production and ensuring security in the state for over 24 million populace.
The State Ministry of Agriculture and Food Systems also received accolades for the deliberate policies and initiatives that has widen the Agriculture sector and food value chains by creating new opportunities for young farmers and entrepreneurs.
The Agricultural Counselor
United States Department of Agriculture, Foreign Àgricultural Service in Nigeria, Dr. Christopher Bielecki and the Deputy Consul General of Netherlands, Peter Keulers, expressed readiness at the Lagos Agrinnovation Hangout 5.0, held at the Workforce, The Zone, Gbagada, Lagos State at the weekend.
In his presentation at the gathering Dr. Christopher Bielecki said that their office is open to mutual beneficial relationship with Nigeria, noting they were ready to provide platform for Nigerian farmers to export their produce to the US.
Bielecki urged farmers and other business owners to take advantage of their open door policy by approaching their office for discussion on Logistic support that will encourage innovations to grow their businesses.
He however, urged young entrepreneurs to also bring some values to the table during discussion and not just at the receiving end, stressing that they were well positioned in promoting Trade and Small Medium Enterprises, SMEs in the country.
On his part, Peter Keulers, the Deputy Consul-General of Netherlands, narrated how a country of about 16 million people with 40,000 landmass became the second largest exporter of Agricultural produce in the world behind US.
According to Keulers, the Netherlands Government gives strong financial and technical support to the sector.
“Innovation is the secret behind the Dutch success story in the sector through cutting edge technology like the use of Drones, Robbots and Artificial intelligence abundantly deployed in the county,” he stated.
Keulers noted that Nigeria plays a major role in the Agric space in the world while expressing the benefit they enjoyed in export having Germany as their neighbour.
Genuine partnership according to him “is the key to deepening the Agric sector and ensure food security that benefits both countries.”
Also speaking, Sejiro Oke-Tojinu who is the Managing Director, MD Sejifarms, explained how he started the journey into farming as a 200 level student in Lagos State University, LASU, Ojo, and took him to the US because he had a vision.
Oke-Tojinu, said there was the need to fill a vacuum with the existing knowledge and urged the Agric Eco entrepreneurs not to be in a hurry to be a boss but work in collaboration and not in isolation.
He warned them against the attitude of hiding information but shared such with colleagues to grow together.
Earlier, the State Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, has said that the Agrinnovation Club was the creation of an eco-system where young farmers and entrepreneurs network and collaborate with each other by adding value to the Agriculture sector.
Olusanya expressed hope that the Agrinnovation Club will become bigger and outlived the tenure of the current administration.
According to her, “The Club is to showcase what the Lagos State Government is doing to the world by expanding businesses beyond the shores of the country.”
Olusanya noted that the mandate of the ministry was to ensure overall social well being of the people through sustainable growth to impact on accessibility and affordability of food to the residents of the state.
The commissioner however, said that government alone cannot provide for all the needs of the people except for genuine networking among those in the eco system to make it more effective.
She explained that their intention was to revolutionise how people see Agriculture in the country driven by innovation and Technology.
Olusanya believed that demonstrating to people that there are endless opportunities to money in the country despite the economic challenges would change the narrative on Japa.
She announced that phase one of the food Logistic Hub in Epe will be commissioned in June this year describing it as a destination for certifying the quality of foods that comes into Lagos.
According to her, government agencies including NAFDAC and SON will have offices at the Food Hub to streamline their quality.
Young farmers share experiences The leader of the Fish farmers Association in the state,1 noted that he was glad to have trained a lot of Students in the business pf fish farming.
For the Chief Executive Officer, CEO, Swan Cape Farms, Dr. Agnes Fasheun who set up first farm in 2015 in Epe maintained that the Agric Eco system can change the narrative in the country for good.
She disclosed that her experience in the United Kingdom where she went to purchase vegetables but found such from Kenya and Ethiopia prompted her journey into vegetable farming after 22 years in the Banking industry.
According to Fasheun, her farm now supplies major Supermarkets in Lagos adding her focus is on responsive production and quality control measures with resilience.
The formal induction of the Agrinnovation Club and Award of Certificates to members climaxed the event.
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zero8zero: JP Morgan, an American bank, is planning to transform its Lagos representative office into a fully-fledged business branch as part of a broader strategy to expand its presence across Africa.
The US bank, according to a report by African Intelligence on March 31, intends to apply to the Central Bank of Nigeria (CBN) for a merchant banking licence in the coming months.
JP Morgan is yet to reply to TheCable’s enquiry about the business transformation at the time of filing this report. The New York-based financial institution, managed in Nigeria by Dayo Olagunju, JP Morgan’s head of West Africa, seeks to enhance its service offerings beyond advisory and asset management to include dollar loans for large companies.
In January, representatives of JP Morgan, led by Olagunju, visited Nigeria and met with Wale Edun, minister of finance. The ministry said the visit was part of an exploratory mission organised by JP Morgan for a diverse group of international institutional investors seeking insights into Nigeria’s economic landscape.
In October 2024, Jamie Dimon, JP Morgan’s chief executive officer (CEO), told Reuters his intention to strengthen the bank’s presence in Africa by expanding into additional countries every few years.
JP Morgan, which has operated in Nigeria since the 1980s, has offices in Abidjan, Cote d’Ivoire, Nairobi, and Kenya to deepen its presence in Africa.
The strategy for JP Morgan in Africa is to accompany countries in issuing Eurobonds.
JP Morgan Chase is the largest bank in the United States and it would be apt to make a full landfall right in Lagos, Nigeria. They have indeed operated in Nigeria since 1980 (alongside other African economic hubs) in the assets management and advisory roles ecosystem. I won't be surprised if Eko Atlantic City is chosen as their point of full banking operations.
On the other hand, I recall that the billionaire JP Morgan Chase CEO, Jamie Dimon, who is a traditional banker recently reaffirmed CLEARLY that he doesn't believe in Bitcoin (and cryptocurrencies in general) because he thinks it's all a Ponzi scheme that has absolutely NO "intrinsic value."
Governor of Lagos State, Mr @jidesanwoolu says all the alternatives will be cleaned up more than before, More traffic officers and security operatives will be deployed to the roads as it was done during December period.
Arrival of Governor @jidesanwoolu at the Independence Bridge, Bonny Camp road repairs this morning to see the work being done by the Federal Ministry of Works.
Mr Governor trekked to renovation point from his official residence, arriving at 9:59 am in… pic.twitter.com/oXuYK0pUov
This morning, I arrived at the Independence Bridge, Bonny Camp, to personally assess the ongoing repair work being carried out by the Federal Ministry of Works.
I sincerely apologise to all Lagosians for the severe traffic congestion experienced yesterday. I understand the frustration, delays, and disruption this has caused in your daily lives. As someone who also moves through this city, I feel your pain, and we do not take your patience and resilience for granted.
The decision to fix the Independence Bridge was not made overnight. This repair has been in the works for over three years, carefully planned to avert a potential disaster. The structural integrity of the bridge had deteriorated, and delaying this intervention any further would have put lives at risk.
While this repair is necessary for the safety of all, I acknowledge the burden it has placed on commuters. We are working closely with all relevant agencies to improve traffic management, and find immediate solutions to ease the congestion.
I assure you that we are not just watching from the sidelines; we have deployed additional traffic monitoring officials and security personnel to ensure traffic flows freely.
I also want to urge businesses and organisations across Lagos to explore flexible work arrangements, including remote work and hybrid models. A temporary shift in work culture can go a long way in reducing traffic pressure and supporting our collective wellbeing.
Let us embrace innovative solutions that keep our city moving while we carry out critical infrastructure repairs. Together, we can build a more resilient, responsive, and liveable Lagos.
Lagosians, I ask for your continued patience and cooperation. Your safety remains our priority, and we are committed to ensuring that our city remains not only a hub of progress but also a place where infrastructure serves the people effectively.
The verbal optics from Governor Babajide Olusola Sanwo-Olu is absolutely on point here. True leadership entails taking firm responsibility for a major disaster such as the horrendous traffic gridlock that occurred yesterday right into today. A proper simulation should have been made before closing that bridge which is one of the 3 major points leading right into Victoria Island. A proper simulation would have enabled the gridlock which held folks up in their cars right into the period after 12 midnight to be prevented.
The work on that Independence bridge is ABSOLUTELY necessary though. It's time to urgently put more Lagos State-owned ferries, (fitted with the cheaper CNG fuel) on the Lagos waterways to reduce the pressures on the roads from Lagos Mainland to Lagos Island, Victoria Island leading on to Lekki Peninsula and beyond. This would enable the bridge to be urgently repaired. Period.
grandstar: Even if it is true, the US does not need his buffoonery. The man has just destroyed the US economy.
There are mechanisms in place if you feel your economy is adversely affected by the protectionist policies of another country. It is call the World Trade Organisation.
You submit your complaint to them. If it is confirmed that allegation, you now permitted to place tariff on imports from that country equal to the amount you're affected.
Let's say the EU places a 10% tariff on US made cars. Export of US cars to the EU is $10bn. The WTO will give you the go-ahead to place tariffs on $10bn worth of EU imports into the US. You choose the products. It does not necessarily need to be cars.
This prevents a trade war.
Succinctly stated.
You've spoken well like a professional economist and analyst.
grandstar: He has destroyed the US economy. The economy is headed for a recession followed by a depression. He is a disaster.
@grandstar
I'm glad that just like me, you too have emphasized on this same thread about the impending economic recession (and depression) which economic analysts have also projected to occur later in 2025. But with these back-and-forth global trade wars instigated by Trump, the U.S. economic recession will come in faster than expected. Folks who have the ability to discern the opportunities and threats from past cyclical economic recessions and depressions must take positions to bullet-proof themselves from here on out. Period.
GUNITGuy: The world is playing towards a dangerous trend of inflation ...They could be general rise price of goods and services produced... America might be hit most before the 2nd quarter of next year
Indeed, the U.S. is already headed for a major economic recession later in 2025 as projected by analysts based off of cyclical economic indices.
blamingthedevil: She started off at Osun State after leaving home in Ogidi-Ijumu, Kogi State
True that.
Osun State has always been a cultural magnet for many with the iconic Austrian, Susan Wenger whose influence and connections to the Yoruba culture and religion further helped in popularizing Osogbo in Europe, North America and more.
Adiob200: Today another nike art gallery was opened at akoda-ede osun state.
The event was graced by many dignitaries, Gov.adeleke ademola, oba munirudeen adesola lawal of ede, ataoja of osogbo, yemi elubibon and goke africa many other notable individuals.
The event show case beautiful art culture of Africa, in adire and art of works
Mama Nike was named queen of adire.
Anytime you visit osun state, make sure you visit nike ultra modern art gallery at akoda, ede osun
This new Nike Art Gallery looks impressive. Let's hope it gets to attract not only local residents but also potential tourists visiting Osun State. The major gallery in Lagos is already well-known internationally.
Great100000: Nigeria’s new capital market laws now officially classify cryptocurrencies and other virtual assets as securities for the first time, in what would lead to greater transparency and increased investments.
President Bola Tinubu recently assented to the Investments and Securities Act (ISA) 2024, which repeals the Investments and Securities Act No. 29 of 2007.
The Act explicitly recognises virtual/digital assets and investment contracts as securities and brings Virtual Asset Service Providers (VASPs), Digital Asset Operators (DAOPs) and Digital Asset Exchanges under the SEC’s regulatory purview.
This means businesses dealing in digital assets must register with the SEC and comply with its guidelines, a crucial step in curbing fraudulent activities in the digital space while fostering trust and innovation in blockchain technologies. Emomotimi Agama, Director-General, SEC, who lauded the bold move as a transformative step for the capital market said the new law will boost investments in digital assets.
Nigeria initially responded with panic to the rise of cryptocurrencies, which started gaining traction around 2015 following a crash in oil prices that led to a depreciation of the naira.
Bitcoin and other cryptocurrencies became a safe haven for many Nigerians, pushing Nigeria to become the second-largest holder of cryptocurrencies globally, after the United States.
The surge in demand for digital currencies, however, intensified the pressure on the naira exchange rate.
In response, the Central Bank of Nigeria (CBN) ordered banks to close all accounts associated with cryptocurrency transactions, in a move aimed at stifling the trade.
Traders shifted to underground operations, relying on peer-to-peer (P2P) exchanges to continue business. Binance, a major global crypto exchange, quickly adapted, offering P2P services to Nigerian users.
When President Bola Tinubu assumed office in mid-2023 and appointed Olayemi Cardoso as CBN governor, the government eased its stance on cryptocurrencies, signaling a possible shift in Nigeria’s regulatory approach to digital assets.
“The ISA 2024 reflects our commitment to building a dynamic, inclusive, and resilient capital market. By addressing regulatory gaps and introducing forward-looking provisions, the new Act empowers the SEC to foster innovation, protect investors more efficiently and reposition Nigeria as a competitive destination for local and foreign investments,” Agama said.
“We commend all stakeholders within and outside the capital market community for their unwavering solidarity towards the achievement of this historic milestone and solicit their continued collaboration in respect of the effective implementation of the ISA 2024 for the benefit of our economy,” Agama said.
Speaking on this development, Oluropo Dada, 13th president and Chairman of Council Chartered Institute of Stockbrokers (CIS) said, “This Act is a testament to our collective dedication to advancing the capital market and securing its future as a catalyst for economic development. The enactment of the Investment and Securities Act 2024 underscores the government’s commitment to fostering transparency, efficiency, and stability in our financial markets.”
“It introduces comprehensive reforms aimed at modernising the regulatory framework, enhancing investor protection, and creating a more robust platform for economic growth and development. As capital market professionals, we are confident that this Act will deepen market integrity, boost investor confidence, and expand the range of investment opportunities available to Nigerians and global investors alike,” Dada said.
Also speaking, Sam Onukwue, chairman, Association of Securities Dealing Houses of Nigeria (ASHON) said, “At the basic level, the ISA 2025 is transformative. It will strengthen regulatory oversight of the capital markets with the overall objective of enhancing investor protection.
“We believe it will rekindle the confidence of market stakeholders, which will, in turn, engender significant growth of the market going forward. For operators, it provides diversification opportunities with the expanded scope beyond traditional equities and fixed income,” Onukwue said.
Eguarekhide Longe, managing director NASD said, “The ISA 2025 is a welcome development. Our market has always placed a premium on investor protection. With the unfolding digital products and the need to attract youths, our regulatory framework should be strengthened.
He said, “By the signing into law of the new Act, I believe that some of the key issues , including investor protection and fraud detection, recognition of virtual assets as securities and systemic risk management will be well-implemented.”
He said, “By the signing into law of the new Act, I believe that some of the key issues , including investor protection and fraud detection, recognition of virtual assets as securities and systemic risk management will be well-implemented.”
Akin Akeredolu-Ale, managing director, Lagos Commodities and Futures Exchange (LCFE) said, “We have people that now understand that the Capital market is the barometer of the economy. And that the enabling environment, particularly the legal framework is the bedrock for growth of the capital market, and overall the economy.
Composite & non-composite exchanges
The Act also classifies Securities Exchanges into Composite and Non-composite Exchanges.
A Composite Exchange is one in which all categories of securities and products can be listed and traded, while a Non-composite Exchange focuses on a singular type of security or product.
There are also new provisions on Financial Market Infrastructures such as Central CounterParties, Clearing Houses and Trade Depositories.
The new Act introduces transformative provisions to further align Nigeria’s market operations with international best practice.
Also, the enactment of the ISA 2024 reaffirms the authority of the Securities and Exchange Commission (SEC) as the apex regulatory authority of the Nigerian Capital Market.
The Act enhances the regulatory powers of the SEC in a manner comparable with benchmark global securities regulators. These enhanced powers and functions ensure full conformity with the requirements of IOSCO’s Enhanced Multilateral Memorandum of Understanding (EMMoU), enabling the SEC to retain its “Signatory A” status and enhancing the overall attractiveness of the Nigerian capital market.
The Act introduces provisions that exempt transactions facilitated through or otherwise involving Financial Market Infrastructures from the application of general insolvency laws. It also introduces provisions for the monitoring, management and mitigation of systemic risk in the Nigerian capital market.
The Act expands the categories of issuers, as a key step towards the introduction of a wide range of innovative products and offerings as well as the facilitation of “commercial and investment business activities”, subject to the approval of the Commission and other controls stipulated in the Act.
Legal Framework for Commodities Exchanges – The Act contains a new Part which provides for the regulation of Commodities Exchanges and Warehouse Receipts. These provisions are essential to allow for the development of the entire gamut of the Commodities ecosystem.
Issuance of Securities by Sub-Nationals and their Agencies- Salient provisions of the Act address existing restrictions in respect of raising of funds from the capital market by Sub-Nationals to allow for greater flexibility in this regard.
The Act introduces the mandatory use of Legal Entity Identifiers (LEIs) by participants in capital market transactions. This stipulation is designed to improve transparency in the conduct of securities transactions.
Enforcement Against Illegal Investment Schemes – The Act expressly prohibits Ponzi Schemes and other unlawful investment schemes, while prescribing stringent jail terms and other sanctions for the promoters of such schemes.
Strengthening the Investments and Securities Tribunal- The Act amends some key provisions in the repealed ISA 2007 pertaining to the Composition of the Tribunal, constitution of the Tribunal, qualification and appointment of the Chief Registrar as well as the jurisdiction of the Tribunal to enhance the ability of the Tribunal to optimally discharge its mandate.
This is largely impressive especially for regulatory purposes. Any digital asset provider that isn't registered with SEC under the newly signed Investment and Securities Act 2024 (ISA 2024) MUST be avoided by potential investors. This is largely what this is all about.
https://www.youtube.com/watch?v=Wy_s1PxZNY0 US President Donald Trump has slammed a 14 percent reciprocal tariff on all Nigerian goods entering the US as the much talked about “Liberation Day” tariffs comes into effect, News360 Nigeria reports.
Trump had said that countries would face a tariff rate at half the level they charge the US, as deemed by the White House, with a minimum tariff rate of 10 percent, saying that the calculation included non-monetary trade barriers and currency manipulation.
The 14 percent tariffs imposed on Nigeria, according to Trump, is against 27 percent charged to the US by Nigeria.
The new tariffs, which affected 185 countries, has therefore, ended months of anxious wait and uncertainty, which had plummeted stocks around the US, Europe and Asian markets.
The moves today are the latest escalation of a trade war that also includes plans to impose 25 percent tariffs on all foreign-made vehicles this week.
Accordingly, Trump slammed a baseline tariff of 10 percent across all countries, while upping the duties for various partners whom he described as bad actors with country like Lesotho getting as much as 50 percent levies on their exports to America.
While unveiling the tariffs, Trump stated he could have gone higher by imposing higher tariffs to match what each country charges to US.
“The tariffs will be not a full reciprocal,” he said. “I could have done that, yes, but it would have been tough for a lot of countries who didn’t want to do that.”
Auto tariffs of 25 percent will go into effect tomorrow as planned.
Vanguard had reported that Nigeria’s total N4.59 trillion exports to the United States may be threatened as a result of the new tariffs.
But commenting on the tariff imposition, Mr. David Adonri, Vice Chairman, Highcap Securities, posited that American consumers would bear the brunt of the new tariff “if the goods Nigeria exports to the US have high price elasticity of demand”.
“President Trump is increasing the tariffs to discourage imports and reinvigorate domestic production.
The increase in tariffs may not adversely affect Nigeria’s export to the US because they are mainly tropical agricultural produce.
“US trade with Nigeria is not significant, hence increase in tariffs may not affect Nigeria’s exports,” he said.
“With increasing volume of importation of crude oil by Dangote Refinery, the trade balance may be in favor of the US now.
“If the goods Nigeria exports to the US have high price elasticity of demand, the Americans will bear the extra cost arising from the tariff hike,” Adonri added.
Countries on the chart displayed by Trump Algeria 30% Oman 10% Uruguay 10% Bahamas 10% Lesotho 50% Ukraine 10% Bahrain 10% Qatar 10% Mauritius 40% Fiji 32% Iceland 10% Kenya 10% Liechtenstein 37% Guyana 38% Haiti 10% Bosnia and Herzegovina 35% Nigeria 14% Namibia 21% Brunei 24% Bolivia 10% Panama 10% Venezuela 15% North Macedonia 33% Ethiopia 10% Ghana 10% China 34% European Union 20% Vietnam 46% Taiwan 32% Japan 24% India 26% South Korea 25% Thailand 36% Switzerland 31% Indonesia. 32% Malaysia 24% Cambodia 49% United Kingdom 10% South Africa 30% Brazil 10% Bangladesh 37% Singapore 10% Israel 17% Philippines 17% Chile 10% Australia 10% Pakistan 29% Turkey 10% Sri Lanka 44% Colombia 10% Peru 10% Nicaragua 18% Norway 15% Costa Rica 10% Jordan 20% Dominican Republic. 10% United Arab Emirates. 10% New Zealand. 10% Argentina 10% Ecuador 10% Guatemala. 10% Honduras 10% Madagascar 47% Myanmar (Burma) 44% Tunisia 28% Kazakhstan 27% Serbia 37% Egypt 10% Saudi Arabia 10% El Salvador 10% Côte d'Ivoire 21% Laos 48% Botswana. 37% Trinidad and Tobago 10% Morocco. 10%
Signed, sealed, delivered to 185 countries of the world.
The minimum U.S. reciprocal tariff across board is 10%, while 14% is the U.S. reciprocal tariff imposed on Nigeria... That's within manageable limits. The small Southern African country of Lesotho got whipped with the highest reciprocal tariff of 50%! The European Union got 20%. We'll see how things pan out in the medium to long-term.
InfoGuru118: US President Donald Trump has slammed a 14 percent reciprocal tariff on all Nigerian goods entering the US as the much talked about “Liberation Day” tariffs comes into effect, News360 Nigeria reports.
Trump had said that countries would face a tariff rate at half the level they charge the US, as deemed by the White House, with a minimum tariff rate of 10 percent, saying that the calculation included non-monetary trade barriers and currency manipulation.
The 14 percent tariffs imposed on Nigeria, according to Trump, is against 27 percent charged to the US by Nigeria.
The new tariffs, which affected 185 countries, has therefore, ended months of anxious wait and uncertainty, which had plummeted stocks around the US, Europe and Asian markets.
The moves today are the latest escalation of a trade war that also includes plans to impose 25 percent tariffs on all foreign-made vehicles this week.
Accordingly, Trump slammed a baseline tariff of 10 percent across all countries, while upping the duties for various partners whom he described as bad actors with country like Lesotho getting as much as 50 percent levies on their exports to America.
While unveiling the tariffs, Trump stated he could have gone higher by imposing higher tariffs to match what each country charges to US.
“The tariffs will be not a full reciprocal,” he said. “I could have done that, yes, but it would have been tough for a lot of countries who didn’t want to do that.”
Auto tariffs of 25 percent will go into effect tomorrow as planned.
Vanguard had reported that Nigeria’s total N4.59 trillion exports to the United States may be threatened as a result of the new tariffs.
But commenting on the tariff imposition, Mr. David Adonri, Vice Chairman, Highcap Securities, posited that American consumers would bear the brunt of the new tariff “if the goods Nigeria exports to the US have high price elasticity of demand”.
“President Trump is increasing the tariffs to discourage imports and reinvigorate domestic production.
The increase in tariffs may not adversely affect Nigeria’s export to the US because they are mainly tropical agricultural produce.
“US trade with Nigeria is not significant, hence increase in tariffs may not affect Nigeria’s exports,” he said.
“With increasing volume of importation of crude oil by Dangote Refinery, the trade balance may be in favor of the US now.
It's not too bad at 14% reciprocal tariff on Nigeria being that the minimum U.S. reciprocal tariff across board is 10%. So, if like Bolivia and Uganda which charge 20% tariffs, Nigeria charges the same 20% down from 27%, it means U.S. reciprocal tariffs on Nigeria would also drop to 10%.
The African Growth & Opportunities Act (AGOA) would most definitely be scrapped as well. It's due for renewal in 2025, but Trump wouldn't hesitate to discontinue it for the "America first project." Those of us with ties to the business and investment ecosystem better brace up for the strong headwinds. You better innovate or die. Period.
When I first watched the video of Senator Natasha Akpoti-Uduaghan, accusing the Senate President Godswill Akpabio and former Kogi State Governor Yahaya Bello of plotting to assassinate her, my immediate reaction was one of shock, much like many Nigerians. Given the gravity of such claims, it is natural for the public to react with concern.
However, stepping back from the emotional weight of the allegations, it is important to critically assess the situation with a rational, evidence-based approach.
Over the years, Sen. Akpoti-Uduaghan has made multiple allegations against high-profile figures in Nigeria’s political and social spheres. Some of these claims have been retracted, while others remain unsubstantiated. This pattern of unverified accusations raises questions that warrant deeper reflection. As a medical professional, I am inclined to consider multiple perspectives, including the possibility that underlying psychological or cognitive factors could play a role in shaping such public declarations.
It is crucial to preface this discussion with a key clarification: suggesting the need for a clinical evaluation is not an assertion of mental instability. Rather, it is a call for a more holistic understanding of behaviour that appears to follow a pattern of extreme accusations without accompanying evidence. In medical practice, clinical evaluations are recommended for individuals who exhibit persistent behaviours that could indicate underlying psychological factors.
One potential area of concern is the tendency to perceive powerful figures as orchestrators of personal harm. This could align with certain psychological conditions, such as persecutory delusions, where an individual strongly believes they are being targeted or conspired against despite a lack of concrete evidence. Of course, not all claims of persecution are baseless; history has shown that individuals in positions of power can engage in unethical or even criminal actions. The key issue is the necessity of verifiable evidence before such claims can be accepted as fact.
Sen. Akpoti-Uduaghan has a history of making serious allegations. A notable instance was her accusation against political commentator Reno Omokri, which was later retracted after evidence disproved the claim. Reports suggest that she compensated Omokri to avoid legal proceedings, raising questions about the basis of her initial statement. More recently, her allegations against Senate President Akpabio remain unverified, yet they continue to shape public perception.
Another incident that drew attention was her reaction to a seat reallocation in the Senate chambers. The dispute, which nearly escalated into a physical confrontation, was seen by some as an overreaction to a routine administrative decision. Emotional volatility in public engagements can sometimes indicate an underlying stress response or difficulty in managing confrontation, further supporting the need for psychological evaluation in situations where such reactions are persistent.
As a psychiatric intern, I am trained to consider multiple factors in behavioural assessment. Conditions such as borderline personality disorder (BPD) are characterized by emotional instability, impulsivity, and intense interpersonal conflicts. Similarly, delusional disorder, persecutory type, involves the firm belief that one is being targeted or conspired against despite a lack of clear evidence. Another possibility is erotomania (de Clérambault’s syndrome), where an individual believes a person of high status has a secret romantic interest in them. These are medical considerations that, while not conclusive, may provide insight into persistent behavioral patterns. https://thesun.ng/evaluating-sen-natasha-akpoti-uduaghans-allegations-from-a-clinical-perspective/
This article above is a highly balanced and well-written one. Kudos to the young psychiatric doctor for stating what myself and a few very discerning folks (who have a deep knowledge of how specific medical conditions can affect the brain) have been saying since this scandal broke 1 month ago.
About 2 weeks ago, I clearly stated on an NL thread as well that this young woman, Natasha was either having a medical condition bordering on a past case of mental trauma, a cancer of the brain, OR had been hexed based off of her needless emotional and highly volatile reactions to when she was told to move to a new seating position at the Senate. I clearly stated that she has to urgency see a professional to evaluate her "brain waves" activity urgently.
Then her disobedience of Senate rules when she refused to stand up when the Senate President came in led to her suspension for 6 months. Then she went from one foreign media outfit to the other and as of today, hasn't provided hard-core audio, video, or written evidence indicating that Senator Akpabio sexually harassed her.
It must be emphasized again that Natasha had falsely accused Reno Omokri of sexually harassing her until Reno brought up the evidence on Twitter (now X) of a British Airways flight ticket to show that he wasn't in Nigeria on the day Natasha said he allegedly sexually harassed her. She immediately deleted her puerile allegation posted on her X account. There's a CLEAR pattern that shows a mental discord.
Just yesterday in her home town of Ihima, Natasha made another accusation stating that the Governor of Kogi State (who is an Ebira himself and a strong protégé of the immediate Governor Yahya Bello), alkegedly instructed that she shouldn't be impeached and that some named people were trying to kill her and more.
THE question is: How did she get these supposedly 3rd party (or private conversations) which she wasn't privy to while she's now being hailed by impressionable and gullible people? In the absence of any evidence from Natasha from these long sequences of crazy accusations, I dare say for the umpteenth time that she has a medical condition affecting her brain which could either be that Natasha has a growing tumor in her brain that has changed her personality to be making outlandish comments OR she's experiencing a very bad case of bipolar disorder and it's highly unfortunate that a lot of those largely impressionable people (females and males) praising her online and offline have NO idea that brain tumors can and have indeed led to financially well-off people to engage in sudden cases of kleptomania, shoplifting, outright steal, telling lies, murder, and more due to the tumor touching or pressing the part of the brain that regulates social behavior. If it's a growing tumor, then it has to be removed urgently. These medical facts have been well known for many decades now.
The onus right now is on Natasha and her cohorts to bring up all the evidence for the random accusations she's been making. If she can bring up recorded hard-core evidence, I will definitely like to see Sen. Akpabio face justice. BUT as of now in the absence of evidence, Sen. Akpabio is innocent until proven guilty. Period.
AmazingGenius: Donald Trump has said he is "not joking" about wanting to serve a third term as US president.
The US Constitution says that "no person... shall be elected more than twice", but some Trump supporters have suggested there could be ways around that.
Why is Trump talking about a third term?
Trump was asked in an interview with NBC about the possibility of seeking a third term and said "there are methods which you could do it".
"I'm not joking... a lot of people want me to do it," he added. "But, I basically tell them we have a long way to go, you know, it's very early in the administration."
Trump, who would be 82 at the end of his second term, was asked whether he would want to keep serving in "the toughest job in the country". "Well, I like working," he replied.
These were not his first comments on the topic. In January, he told supporters that it would be "the greatest honour of my life to serve not once, but twice or three times or four times". However, he then said this was a joke for the "fake news media".
What does the US Constitution say?
On the face of it, the US Constitution seems to rule out anyone having a third term. The 22nd Amendment states:
"No person shall be elected to the office of the president more than twice, and no person who has held the office of president, or acted as president, for more than two years of a term to which some other person was elected president shall be elected to the office of the president more than once."
Changing the constitution would require a two-thirds approval from both the Senate and the House of Representatives, as well as approval from three-quarters of the country's state-level governments.
Trump's Republican Party controls both chambers of Congress but does not have the majorities needed. Additionally, the Democratic Party controls 18 of the 50 state legislatures.
How could Trump be president for a third term?
Trump supporters say there is a loophole in the constitution, untested in court.
They argue that the 22nd Amendment only explicitly bans someone being "elected" to more than two presidential terms - and says nothing of "succession".
Under this theory, Trump could be the vice-presidential running-mate to another candidate - perhaps his own vice-president, JD Vance - in the 2028 election.
If they win, the candidate could be sworn into the White House and then immediately resign - letting Trump take over by succession.
Steve Bannon, the podcaster and prominent former Trump adviser, said he believed Trump would "run and win again", adding there were "a couple of alternatives" in determining how.
Andy Ogles, a Tennessee Republican in the House of Representatives, introduced a resolution in January calling for a constitutional amendment to allow a president to serve up to three terms - as long as they were not consecutive.
This would mean that only Trump of all former surviving presidents would be eligible - Barack Obama, Bill Clinton and George W Bush all served consecutive terms, whereas Trump won in 2016, lost in 2020, and won again in 2024.
However, the high bar for constitutional amendments makes Ogles' proposal a pipe dream - although it got people talking.
Who opposes a Trump third term?
Democrats have deep objections.
"This is yet another escalation in his clear effort to take over the government and dismantle our democracy," said Daniel Goldman, a New York Representative who served as lead counsel for Trump's first impeachment.
"If Congressional Republicans believe in the Constitution, they will go on the record opposing Trump's ambitions for a third term."
Some within Trump's party also think it's a bad idea.
The Republican Senator Markwayne Mullin, of Oklahoma, said in February he would not back an attempt to put Trump back in the White House.
"I'm not changing the constitution, first of all, unless the American people chose to do that," Mullin told NBC.
What do legal experts say?
Derek Muller, an election law professor at the University of Notre Dame, said the Constitution's 12th Amendment says "no person constitutionally ineligible to the office of president shall be eligible to that of vice-president of the United States".
That means serving two terms in office disqualifies anyone from running as a vice-presidential candidate, in his view.
"I don't think there's any 'one weird trick' to getting around presidential term limits," he said.
Jeremy Paul, a constitutional law professor at Boston's Northeastern University, told CBS New there were "no credible legal arguments" for a third term.
Has anyone served more than two terms?
Franklin Delano Roosevelt was elected four times. He died three months into his fourth term, in April 1945.
The Great Depression and the Second World War coloured Roosevelt's time in office - and are often cited for his extended presidency.
At that time, the two-term limit on US presidents had not been written into law - it was instead a custom followed since George Washington refused a third term in 1796.
Roos0evelt's extended stewardship led to the tradition being codified into law in the 22nd Amendment in 1951.
InfoGuru118: Ahmadu Musa Kida has been appointed as the new board chairman of the Nigerian National Petroleum Company Limited (NNPCL), News360 Nigeria reports.
He has a strong background in engineering, the oil industry, and sports.
Here are seven key things to know about him:
1. He hails from Borno State– Kida is originally from Borno State and has built an extensive career in both the energy sector and sports administration.
2. A trained engineer with international credentials – He earned a degree in civil engineering from Ahmadu Bello University, Zaria, in 1984 and later obtained a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP) in Paris.
3. Started his career at Elf Petroleum Nigeria – Kida began working in the oil industry as a trainee engineer at Elf Petroleum Nigeria before joining Total Exploration and Production.
4. Rose to the top in the oil sector – After years of experience, he became the Deputy Managing Director of Deep Water Services at Total Nigeria in 2015, showcasing his expertise in the energy industry.
5. A former basketball player – Kida was actively involved in basketball before transitioning into leadership roles in the oil sector.
6. President of the Nigerian Basketball Federation (NBBF) – He has played a key role in shaping Nigerian basketball, serving as the president of the NBBF board.
7. Held leadership roles in other energy firms – Before his appointment as NNPCL chairman, he was an Independent Non-Executive Director at Pan Ocean-Newcross Group, contributing to the growth of Nigeria’s oil and gas sector.
Congratulations to the big dude and oil and gas technocrat, Ahmadu Musa Kida. Bayo Ojulari and Ahmadu Kida belong to the ex-Ahmadu Bello Uni gang in the oil and gas sector. The Borno State folks that I've personally known over the decades are indeed upwardly mobile, brilliant and well-read folks. It's just an unfortunate irony that the insidious BH phenomenon evolved from that Borno axis back in the early 2000s, reaching deadly violent proportions in 2007, before 2009 when former President Yar' Adua ordered the launch of an all-out attack on those imbeciles.
It's time to activate the Saudi Aramco business model in NNPCL as well.
Foreign Affairs › Re: US Bans Its Staff In China From Romantic Relationships With Chinese Citizens by Konquest: 12:48pm On Apr 04, 2025
