Author: Friday Omosola

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Elon Musk, claiming that his 2022 purchase of Twitter shares violated securities laws. The SEC’s court filing, published Tuesday, asserts that Musk failed to submit a required beneficial ownership report after acquiring more than five per cent of Twitter’s common stock in March 2022. The SEC argues that Musk’s failure to file the report on time allowed him to continue buying shares at “artificially low prices,” enabling him to underpay by at least $150 million for shares purchased after the report was due. The 53-year-old attorney, Alex Spiro,…

The National Assembly Joint Committee on Livestock Development has raised concerns over the proposed N11.8 billion budget allocation for the newly created Federal Ministry of Livestock Development, describing it as insufficient for the ministry’s successful launch. The Federal Government allocated N10 billion for capital expenditure and N1.8 billion for operational costs in the ministry’s 2025 budget. During the budget defence session on Tuesday, Minister Idi Maiha, along with senior officials and agency heads, outlined the ministry’s financial needs to the joint committee. Maiha explained that the ministry, which was separated from the Ministry of Agriculture and Food Security, began operations…

Godswill Akpabio, the President of the Senate, has urged lawmakers to renew their dedication to addressing Nigeria’s pressing challenges, with an emphasis on national development and legislative reforms. During a plenary session on Tuesday, which marked the Senate’s return after the holiday break, Akpabio made this call for renewed commitment.  In his speech titled “Rising to the Greatness of Our Calling”, he emphasised the necessity for a collective resolve to transform Nigeria into a nation characterized by progress and hope. He highlighted the significance of the national budget, describing it as not merely a financial tool but as a reflection…

The Ekiti State government has taken proactive steps to ensure food security by establishing storage facilities across the state. These facilities aim to purchase and store farm produce during harvest seasons, releasing them during periods of scarcity to stabilize food supply and prices. Governor Biodun Oyebanji, during an inspection of one of the storage facilities in Ado-Ekiti yesterday, explained that the initiative is part of efforts to prevent the food scarcity experienced in the state last year.  He highlighted that the government is focused on addressing food shortages, reducing post-harvest losses, and ensuring year-round food sufficiency. Speaking to journalists after…

Former President Olusegun Obasanjo has called on President Bola Tinubu to establish a sustainable plan for financing education in Nigeria. Obasanjo made the appeal at the 70th birthday celebration of the Vice Chancellor of Bells University, Oludele Ojediran, held at Ladoke Akintola University of Technology, Ogbomoso, Oyo State on Tuesday.  He also encouraged governments at all levels to equip youths with the skills and resources needed to become job creators. The former military head of state commended LAUTECH for producing exceptional academics and administrators, citing Professors Adeyemi and Ojediran, both former Vice Chancellors of Bells University, as shining examples.  The…

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called for transformative, high-impact investments in infrastructure, agriculture, rail, and energy. Speaking at the Islamic Development Bank Governors’ (IsDB Group) Retreat in Al-Madinah, Saudi Arabia, Edun emphasised the need for innovative and sustainable financing strategies. In a statement posted on the ministry’s X page today, Edun urged the IsDB to prioritize investments with strong returns to ensure long-term financial sustainability.  Highlighting the need for a paradigm shift in development financing, he called on the bank to align its approach with current economic realities. Edun stressed the importance…

The Minister of Budget and Economic Planning, Abubakar Bagudu, has expressed optimism that the Federal Government will meet its N36.35 trillion revenue projection for 2025.   Speaking during a National Assembly Joint Committee hearing on the 2025 Appropriation Bill, Bagudu attributed his confidence to the economic reforms introduced by President Bola Tinubu’s administration, which he said are already yielding positive results.   He highlighted the impact of removing fuel and foreign exchange subsidies, noting that the resulting revenue boost for all levels of government began to materialize in October 2024. Bagudu emphasized that the savings from these reforms are expected to drive…

The Federal Government (FG) has announced it is set to unveil a youth farmers enrollment portal as part of efforts to tackle unemployment and boost economic engagement among young Nigerians. The announcement followed a meeting between the Minister for Youth Development, Ayodele Olawande, and a delegation from the Nigerian Youth Economic Engagement and De-Radicalisation Programme (NIYEEDEP).   The delegation, led by NIYEEDEP National Coordinator, Kennedy Iyere, included representatives from the American Association of Grant Writers, Marc Paley and Staci Smith, as well as Victor Obinna Edeh, the African representative for Bayern Munich Football Club. READ ALSO: Edo Election Tribunal to begin…

Plateau State Governor, Caleb Mutfwang, has urged Christian pilgrims travelling to the Holy Land to use the opportunity to deepen their relationship with God and return as carriers of His presence. The governor made the call during the farewell ceremony for the pilgrims in Jos, where he emphasised the transformative potential of the journey.   “This pilgrimage is more than just a journey; it is an opportunity for a life-changing encounter with God. May this experience positively transform your lives, benefit your families, and leave a legacy for generations to come,” he said. Governor Mutfwang highlighted that true Christianity reflected in…

The Federal Government (FG) has acknowledged that national grid collapses will continue due to its inability to repair a critical transmission line in northern Nigeria, citing persistent insecurity as a major barrier.   Minister of Power, Adebayo Adelabu, disclosed this during the 2025 budget defence session with the Senate Joint Committee on Power.  He identified the damaged Shiroro-Kaduna-Mando transmission line, which has been out of service since a vandalism incident in October 2024, as a key factor contributing to the grid’s instability.   “The Shiroro-Kaduna-Mando line is one of two main lines supplying power to the north. While the Ugwuaji-Makurdi line, which…