The New Diplomat

Buffett’s Berkshire Hathaway exits BYD after 17 years, reaping 20-fold return

Abiola Olawale — Mon, 22 Sep 2025 17:14:48 +0000

By Obinna Uballa Warren Buffett’s Berkshire Hathaway has completed its exit from Chinese automaker BYD, closing out a 17-year investment that delivered more than a twentyfold gain, Reuters reported. A regulatory filing by Berkshire’s energy subsidiary showed the value of its BYD stake at zero as of the end of March, compared with $415 million […]

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Delta community Cries out over collapsed NDDC road

Abiola Olawale — Mon, 22 Sep 2025 17:09:42 +0000

By Obinna Uballa Residents of Amuokpokpor-Elume in Sapele Local Government Area of Delta State have cried out to the Niger Delta Development Commission (NDDC) to urgently rehabilitate the community’s only access road, which caved in barely a year after completion. The agrarian community said the failed road has become a death trap, crippling economic activities, […]

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‘We Are Finished’, Peter Obi faults Remi Tinubu’s Birthday Donation Plea

Abiola Olawale — Mon, 22 Sep 2025 17:03:21 +0000

By Abiola Olawale The 2023 presidential candidate of the Labour Party, Peter Obi has faulted First Lady Oluremi Tinubu’s recent birthday appeal for donations to complete a National Library project in Abuja This is as Obi described the move as a symbol of the nation’s “misplaced priorities.” This criticism arose after Tinubu marked her 64th […]

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FAAC flags $42.37bn as NNPC’s under-remittance, queries OAGF over N2trn unpaid taxes, royalties

Abiola Olawale — Mon, 22 Sep 2025 16:55:00 +0000

By Obinna Uballa The Federation Accounts Allocation Committee (FAAC) has raised alarm over what it called huge unreconciled revenues, disclosing that more than $42.37 billion allegedly due from the Nigerian National Petroleum Company Limited (NNPC) to the Federation Account remains outstanding. At the same time, the Office of the Accountant-General of the Federation (OAGF) […]

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Nigeria’s Economy Accelerates as GDP Surges 4.23% in Q2 2025

Abiola Olawale — Mon, 22 Sep 2025 16:51:14 +0000

By Abiola Olawale Nigeria’s gross domestic product (GDP) has expanded by 4.23% year-on-year in the second quarter of 2025, marking an acceleration from the 3.13% growth recorded in the first quarter, according to the latest report from the National Bureau of Statistics (NBS). The NBS said that the Q2 figures represented the second official GDP […]

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Wike angers residents as he authorises demolitions at Abuja estate

Abiola Olawale — Mon, 22 Sep 2025 16:41:35 +0000

By Obinna Uballa Fresh outrage has trailed the order by Minister of the Federal Capital Territory (FCT), Nyesom Wike, directing the Department of Urban Control to pull down ongoing construction works at River Park Estate, Abuja. During an inspection visit to the estate at the weekend, Wike accused developers of violating existing agreements and attempting […]

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Nigeria inches closer to energy sufficiency as crude supply to local refineries hits 67.6m barrels

Abiola Olawale — Mon, 22 Sep 2025 16:38:21 +0000

By Obinna Uballa Nigeria’s push for energy self-sufficiency has received a boost as the Federal Government disclosed that 67,657,559 barrels of crude oil were delivered to domestic refineries between January and August 2025. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which confirmed the figure, said the supplies were made under the Petroleum Industry Act 2021 […]

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China holds lending rates steady despite the United States cut

Abiola Olawale — Mon, 22 Sep 2025 16:34:24 +0000

By Obinna Uballa China kept its benchmark lending rates unchanged on Monday, defying last week’s interest rate cut by the United States Federal Reserve, as Beijing opts for caution despite signs of economic weakness. The People’s Bank of China (PBOC) left the one-year loan prime rate (LPR) at 3.0% and the five-year LPR at 3.5%, […]

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Akpabio vs Natasha: Court adjourns cybercrime trial to Oct 20 over objection

Abiola Olawale — Mon, 22 Sep 2025 16:28:40 +0000

By Obinna Uballa The planned commencement of trial in the cybercrime case against suspended Kogi Central senator, Natasha Akpoti-Uduaghan, at the Federal High Court, Abuja, was on Monday stalled following a preliminary objection by her counsel, Ehiogie West-Idahosa (SAN). Akpoti-Uduaghan faces a six-count charge under the Cybercrimes (Prohibition, Prevention, etc.) (Amendment) Act, 2024, in suit […]

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Otedola: I back Dangote as Over N2trn was looted via fake subsidy claims

Abiola Olawale — Mon, 22 Sep 2025 14:50:58 +0000

By Obinna Uballa Billionaire businessman, Femi Otedola, has alleged that more than N2 trillion was siphoned through questionable petrol subsidy claims during the administration of former President Goodluck Jonathan, with depot licence holders emerging as the chief beneficiaries. Otedola made the claim in a statement on Monday while defending the Dangote Petroleum Refinery (DPR) in […]

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Tinubu: Presidency, El-Rufai in War of Words over 2027

Abiola Olawale — Mon, 22 Sep 2025 13:41:05 +0000

By Abiola Olawale The immediate past Governor of Kaduna State, Nasir El-Rufai, and the presidency are currently locked in a war of words over the former’s criticism of President Bola Tinubu. This comes after El-Rufai accused Tinubu of allegedly scheming to become a “president for life” akin to Cameroon’s long-ruling Paul Biya. El-Rufai, also a […]

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N245 billion allocation: Ibas Blasts legislators as Rivers Assembly Mulls Probe of alleged fraud

Abiola Olawale — Mon, 22 Sep 2025 13:34:53 +0000

By Abiola Olawale The immediate past Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (retd.) has rejected the Rivers State House of Assembly’s bid to scrutinize his six-month financial stewardship, branding the resolution as a “fool’s errand.” This comes after the assembly, resuming plenary for the first time since March 12, 2025, unanimously resolved […]

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Lagos. Not A No-Man’s Land: From Fishing Settlement to Global Megacity

The New Diplomat — Mon, 22 Sep 2025 11:23:33 +0000

By Sonny Iroche Introduction: Lagos as a City of Paradoxes Lagos, Nigeria’s most populous city and the heart beat of its economy, is a land of paradoxes. At once a city of staggering wealth and crushing poverty, of tradition and modernity, of deep religiosity and dizzying secular ambition, Lagos embodies Nigeria’s contradictions in their most […]

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Oil Prices Climb on Geopolitical Tensions in Europe and the Middle East

The New Diplomat — Mon, 22 Sep 2025 07:43:49 +0000

Crude oil prices began the week with another rise, after last week saw a reversal of a two-week streak of gains on an abundance of glut predictions. The upward pressure on prices was back, however, as European pressure on Russia increases, with reports over the weekend of Russian aircraft entering Estonian airspace and neutral airspace […]

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ARASE: Honouring the Impact of a Police Reformer, By Dakuku Peterside

The New Diplomat — Mon, 22 Sep 2025 03:49:51 +0000

There are moments when a country loses more than a person; it loses a compass. The passing of Dr Solomon E. Arase on August 31, 2025, felt like that—an abrupt dimming of a steady light that had, for years, shown what policing in Nigeria could be if guided by principle, civility, and courage. He did […]

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Is the Market Sleepwalking Into a Global Oil Shortage?

Abiola Olawale — Sun, 21 Sep 2025 20:54:09 +0000

Managed money speculators hit record bearish positions on WTI even as the IEA forecasts massive ongoing investment needs to prevent steep supply declines. The IEA projects global production would fall by more than 5 million barrels a day annually without new drilling, driven by faster depletion in shale fields. With tech now outspending oil on […]

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Fubara attends Church Service, says new era of peace is in Rivers

Abiola Olawale — Sun, 21 Sep 2025 20:40:32 +0000

By Abiola Olawale Rivers State Governor Siminalayi Fubara stepped into his home church for the first time since his official reinstatement. This is as Fubara urged congregants to bolster his administration with fervent prayers following a fresh chapter of governance. Accompanied by his wife, Valerie Fubara, and a cadre of key stakeholders, the governor worshipped […]

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Netanyahu blasts Starmer, Others, says there will be no Palestinian State

Abiola Olawale — Sun, 21 Sep 2025 20:18:47 +0000

By Abiola Olawale Israeli Prime Minister Benjamin Netanyahu has criticised United Kingdom Prime Minister Keir Starmer, Canadian Prime Minister Mark Carney, and Australian Prime Minister Anthony Albanese on Sunday, declaring that a Palestinian state “will not happen”. This comes after Starmer, Carney, and Albanese announced their decision to recognise Palestine as a sovereign entity. Netanyahu’s […]

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Shettima Jets out to represent Tinubu at 80th UNGA

Abiola Olawale — Sun, 21 Sep 2025 16:14:49 +0000

By Abiola Olawale Nigeria’s Vice President Kashim Shettima departed Abuja on Sunday for New York, United States, as leader of the nation’s delegation at the 80th session of the United Nations General Assembly (UNGA). This comes after The New Diplomat had reported that Tinubu had delegated Shettima to represent him at the UNGA for the […]

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UK formally recognises Palestinian state in historic break with US, Israel

Abiola Olawale — Sun, 21 Sep 2025 16:08:19 +0000

By Obinna Uballa The United Kingdom has formally recognised a Palestinian state, a move Prime Minister Keir Starmer described as an effort to “revive the hope of peace” between Palestinians and Israelis. The decision, announced on Sunday, places Britain alongside Canada and Australia in what appears to be a coordinated Commonwealth initiative, despite strong opposition […]

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CJN Kekere-Ekun to inaugurate 57 new SANs as Supreme Court opens legal year

Abiola Olawale — Sun, 21 Sep 2025 16:03:02 +0000

By Obinna Uballa The Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, will on Monday, September 29, administer the oath of office to 57 newly elevated Senior Advocates of Nigeria (SANs) at a special ceremony marking the commencement of the 2025/2026 legal year of the Supreme Court. According to a statement by the Director of […]

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Clashes, arrests as mass protests rock Philippines amid $9.5bn corruption scandal

Abiola Olawale — Sun, 21 Sep 2025 15:56:40 +0000

By Obinna Uballa Tens of thousands of Filipinos poured into the streets of Manila on Sunday to protest a massive corruption scandal tied to flood-control projects, clashing with police in the country’s largest anti-graft demonstrations in years. The Philippines protests come against a backdrop of growing unrest across Asia. In recent weeks, demonstrators in Nepal […]

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Guinea referendum raises fears of junta’s bid to cling to power

Abiola Olawale — Sun, 21 Sep 2025 15:52:42 +0000

By Obinna Uballa Guineans troop to the polls on Sunday in a long-awaited referendum on a new constitution that could clear the way for coup leader Mamady Doumbouya to run for president, marking a critical step in the country’s transition from military to civilian rule. The 6.7 million eligible voters are deciding whether to adopt […]

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Amnesty International, SERAP Urges Tinubu to drop Charges Against Sowore, Facebook, X

Abiola Olawale — Sun, 21 Sep 2025 15:46:36 +0000

By Abiola Olawale Prominent human rights groups, Socio-Economic Rights and Accountability Project (SERAP) and Amnesty International Nigeria have written a letter to President Bola Tinubu, demanding the dropping of cybercrime and defamation charges against human rights activist, Omoyele Sowore, alongside techy powerhouses X (formerly Twitter) and Facebook. The call was issued in a joint letter […]

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Rarara’s Fake Doctorate Became Too Fake for a Fake University!

The New Diplomat — Sun, 21 Sep 2025 09:24:45 +0000

By Farooq Kperogi It has just come to light that “European-American University” has disavowed the honorary doctorate it putatively conferred on iconic pro-regime Hausa praise-singer Dauda Kahuta Rarara. Now pause for a moment and savor the hysterical absurdity of what just happened. The European-American University is itself a well-known, textbook-case example of a fake university. […]

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Olumekun, Olamilekan, Liman, Others Emerge as Top Contenders To Succeed Yakubu

Abiola Olawale — Sat, 20 Sep 2025 20:20:36 +0000

By Abiola Olawale The race for the next Independent National Electoral Commission (INEC) chairman has intensified with two prominent Southwest figures; INEC national commissioner for Information and Voter Education, Sam Olumekun, and a University of Lagos don specializing in political science and governance, Professor Bashiru Olamilekan, reportedly in the race to make history as the […]

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Akinnola warns against ethnic crisis, urges youth to learn from history

Abiola Olawale — Sat, 20 Sep 2025 17:50:29 +0000

By Obinna Uballa Journalist, activist, and author Richard Akinnola has cautioned Nigerian youths against fuelling ethnic divisions, warning that ignorance of history could push the country into another crisis. Speaking at his 67th birthday celebration in Lagos, themed “Handshake Across the Niger: The Yoruba – Igbo Detente”, Akinnola stressed the importance of unity and historical […]

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Nigeria’s e-commerce market to top $16bn by 2030 as digital economy accelerates – LBS

The New Diplomat — Sat, 20 Sep 2025 15:31:24 +0000

By Obinna Uballa The Lagos Business School (LBS) has projected that Nigeria’s e-commerce market could surpass $16 billion by 2030, noting that the country’s digital transformation will play a decisive role in shaping future economic growth. The Dean of LBS, Professor Olayinka David-West, represented by Professor Akintola Owolabi, made the projection at the 35th annual […]

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cholera outbreak claims 58 lives in Bauchi as state battles to save 258 others

The New Diplomat — Sat, 20 Sep 2025 15:26:57 +0000

By Obinna Uballa A fresh cholera outbreak has left at least 58 people dead in Bauchi State, with health authorities struggling to save 258 others currently affected across 14 of the state’s 20 local government areas. The Bauchi State Deputy Governor, Auwal Jatau, disclosed the figures while inaugurating the State Cholera Steering Committee and the […]

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Jonathan Urges Voters to Sack “Underperforming” Leaders

The New Diplomat — Sat, 20 Sep 2025 15:19:44 +0000

Calls for Accountability By Abiola Olawale A former Nigerian President, Goodluck Jonathan, has emphasized the importance of holding leaders accountable, declaring that those who fail to deliver on their promises should be voted out of office. Speaking at the 2025 edition of the Goodluck Jonathan Foundation (GJF) Democracy Dialogue, held in Accra, Ghana, Jonathan charged […]

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