The New Diplomat

NEITI Warns of Deepening Transparency Crisis, Says Nigeria Lost $3.3bn to Oil theft, Sabotage

The New Diplomat — Thu, 09 Oct 2025 18:17:25 +0000

By Obinna Uballa Nigeria lost an estimated 13.5 million barrels of crude oil valued at $3.3 billion to theft and pipeline sabotage between 2023 and 2024, the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. Executive Secretary of NEITI, Dr. Ogbonnaya Orji, disclosed this on Thursday at the 2025 Association of Energy Correspondents of Nigeria […]

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Oil Eases over 1.5% after Gaza ceasefire

The New Diplomat — Thu, 09 Oct 2025 18:11:03 +0000

Summary Israel and Hamas agree to Gaza ceasefire, return of hostages US oil product supplied highest since December 2022, EIA says Stalled peace talks in Ukraine underpin prices Oil prices edged slightly lower on Thursday after Israel and the Palestinian militant group Hamas signed an agreement to cease fire in Gaza. Brent crude futures were […]

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Details as Tinubu Grants Herbert Macaulay, Others Presidential Pardon

The New Diplomat — Thu, 09 Oct 2025 18:01:28 +0000

By Abiola Olawale President Bola Ahmed Tinubu has exercised his constitutional powers to grant presidential pardons to 175 individuals, including the revered Nigerian nationalist Herbert Macaulay. It was gathered that the development happened during the National Council of State that was held at the Presidential Villa on Thursday. Although the presidency has yet to release […]

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FG promises action as World Bank flags excessive revenue retention by FIRS, NCS, NUPRC, others

The New Diplomat — Thu, 09 Oct 2025 17:52:26 +0000

By Obinna Uballa The federal government has said there’s already a plan to curb the issue of excessive revenue retention by federal agencies. This is as the World Bank raised concerns over what it describes as the disproportionately high share of revenue retained by Nigeria’s major revenue-generating agencies compared to similar institutions across Africa. In […]

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What Will They Eat When They Finish The Money? By Azu Ishiekwene

The New Diplomat — Thu, 09 Oct 2025 16:44:05 +0000

The grave is never satisfied, but other things compete with it for insatiability. I can’t help feeling that some members of Nigeria’s National Assembly will vie for the top place of never enough with the grave, water and fire. Enough is a stranger to them. What happens in these chambers in Abuja, in the name […]

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Minimum Wages in 50 U.S. States & 35 Countries, Adjusted for Living Costs

The New Diplomat — Thu, 09 Oct 2025 16:30:41 +0000

Key Takeaways After adjusting for inflation and price differences, statutory minimum wages in leading high-income economies—including Germany, Australia, and France—are higher than all 50 U.S. states. Under the same metrics D.C., Connecticut, Washington, and Arizona have the highest statutory minimum wages in the U.S. U.S. states following the federal minimum wage (which hasn’t moved since 2008), cluster at […]

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Lagos Issues Two-Week Ultimatum to Trade Fair Developers to Secure Bui

The New Diplomat — Thu, 09 Oct 2025 16:00:28 +0000

By Abiola Olawale The Lagos State Government has handed property developers and structure owners at the Trade Fair Complex in Ojo a two-week deadline to obtain building approvals. The directive was announced by Dr. Oluyinka Olumide, Commissioner for Physical Planning and Urban Development, on Thursday. The Commissioner stated that during the time frame, the developers […]

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Tinubu mourns Christopher Kolade, describes him as “one of Nigeria’s intellectual treasures”

The New Diplomat — Thu, 09 Oct 2025 15:13:51 +0000

By Obinna Uballa President Bola Tinubu has paid glowing tribute to the late Dr Christopher Kolade, describing the respected broadcaster, diplomat, and corporate leader as one of Nigeria’s “intellectual treasures” and a man of “unimpeachable integrity.” Dr Kolade, aged 92, passed away on Wednesday. In a statement issued from the State House on Thursday, Tinubu […]

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Tinubu names Joash Amupitan as new INEC chairman

The New Diplomat — Thu, 09 Oct 2025 14:58:20 +0000

By Obinna Uballa President Bola Tinubu has appointed Professor Joash Ojo Amupitan (SAN) as the new Chairman of the Independent National Electoral Commission (INEC), following the completion of Professor Mahmood Yakubu’s tenure in October 2025. Presidential spokesman, Bayo Onanuga, announced the appointment in a statement on Thursday, saying the National Council of State approved the […]

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Just In! Council of State Unanimously Backs Prof. Amupitan as INEC Chairman

The New Diplomat — Thu, 09 Oct 2025 14:53:11 +0000

By Abiola Olawale The National Council of State has given its approval to Professor Joash Ojo Amupitan (SAN) as the new Chairman of the Independent National Electoral Commission (INEC). The unanimous endorsement, announced during a high-stakes meeting at the Presidential Villa in Abuja, comes as the country gears up for an off-cycle election, including the […]

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Tinubu Presides over Council of State, Set to Present Nominees for INEC Chair

The New Diplomat — Thu, 09 Oct 2025 14:43:03 +0000

By Abiola Olawale President Bola Tinubu is currently presiding over the National Council of State meeting at the Presidential Villa. It was gathered that the President is expected to present his nominees for the Independent National Electoral Commission (INEC) chairmanship during the meeting. The development came after the recent exit of Professor Mahmood Yakubu, whose […]

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Putin says Russian air defenses responsible for Azerbaijani jet’s crash last year, killing 38

The New Diplomat — Thu, 09 Oct 2025 12:40:07 +0000

Russian President Vladimir Putin on Thursday said that Russia’s air defenses were responsible for shooting down an Azerbaijani airliner in December that killed 38 people in his first admission of blame for the crash. Putin made the statement at a meeting with Azerbaijan’s President Ilham Aliev in Tajikistan’s capital of Dushanbe, where both are attending […]

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Elder statesman, broadcaster, and diplomat Christopher Kolade dies at 92

The New Diplomat — Thu, 09 Oct 2025 12:32:46 +0000

By Obinna Uballa Nigeria has lost one of its most respected public figures, Dr. Christopher Kolade, CON – the revered diplomat, broadcaster, and corporate leader – who passed away peacefully on Wednesday, October 8, 2025, at the age of 92. His family announced his passing in a statement on Thursday, expressing gratitude for “his incredible […]

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2027: Northern PDP Bloc Endorses Jonathan for President, Declares ‘No Going Back’

The New Diplomat — Thu, 09 Oct 2025 12:26:10 +0000

By Obinna Uballa A powerful coalition within the Peoples Democratic Party (PDP) in the North has thrown its weight behind former President Goodluck Jonathan to emerge as the party’s presidential candidate in 2027, describing him as “the only leader capable of redeeming the PDP and reuniting Nigeria.” The endorsement came in a communiqué issued at […]

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Police Arrest 12 suspects over death of Arise TV anchor Somtochukwu Maduagwu

The New Diplomat — Thu, 09 Oct 2025 11:38:05 +0000

By Obinna Uballa The Federal Capital Territory (FCT) Police Command has arrested 12 suspected armed robbers in connection with the killing of Arise News staff member, Somtochukwu Christella Maduagwu, and a security guard, Barnabas Danlami, during a violent robbery attack in Abuja. The suspects were apprehended following a coordinated operation by the Scorpion Squad under […]

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CAN divided over ‘Christian genocide’ claims as U.S. lawmakers, clerics clash on Nigeria’s religious crisis

The New Diplomat — Thu, 09 Oct 2025 11:16:07 +0000

By Obinna Uballa The Christian Association of Nigeria (CAN) has become divided over renewed international claims that Christians are being systematically persecuted and exterminated in Nigeria, as a growing debate around faith, insecurity, and foreign intervention continues to intensify. The controversy was triggered by recent comments and legislative moves in the United States, where public […]

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Peter Obi Hails Nnaji’s Resignation, Calls INEC to Tighten Pre-Election Ve

The New Diplomat — Thu, 09 Oct 2025 11:11:21 +0000

By Abiola Olawale The 2023 presidential candidate of the Labour Party, Peter Obi, has praised Uche Nnaji for his resignation as the Minister of Innovation, Science, and Technology, amid explosive allegations of certificate forgery. Obi also seized the moment to rally the Independent National Electoral Commission (INEC) for rigorous reforms, demanding mandatory certificate submissions six […]

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[FULL LIST] University of Ibadan Reclaims Crown as Nigeria’s Best Institution for 2026

The New Diplomat — Thu, 09 Oct 2025 09:02:08 +0000

By Abiola Olawale The University of Ibadan (UI) has surged back to the pinnacle of Nigerian higher education, clinching the title of the nation’s top university in the Times Higher Education (THE) World University Rankings 2026. The development marks a return for UI, which dropped to fourth place in the previous year’s assessment but now […]

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Experts React as FG, World Bank Clash Over Nigeria’s Poverty Figures

The New Diplomat — Thu, 09 Oct 2025 08:45:25 +0000

By Obinna Uballa A new poverty report by the World Bank has sparked a wave of controversy in Nigeria, with the Federal Government dismissing it as “unrealistic” and experts insisting that the figures, however grim, reflect the lived experiences of millions of citizens. The World Bank’s Nigeria Development Update released this week estimates that 139 […]

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Israel, Hamas Greenlight First Phase of Trump’s Peace Plan

The New Diplomat — Thu, 09 Oct 2025 06:55:42 +0000

By Abiola Olawale Israel and Hamas have inked their approval on the inaugural phase of the United States President Donald Trump’s Gaza peace initiative. The agreement, announced on Wednesday amid high-stakes indirect talks in Egypt, paves the way for an immediate ceasefire, the release of hostages, and a surge in humanitarian aid. This development is […]

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Where Extreme Poverty Rates Are Highest in the World

The New Diplomat — Thu, 09 Oct 2025 05:10:59 +0000

Key Takeaways Africa is home to 23 of the top 30 countries with the highest rates of extreme poverty. Kosovo ranks in 19th globally in 2024, seeing the highest rates outside of Africa—a country that faces high unemployment rates and ongoing conflict. The Democratic Republic of Congo (DRC) produces roughly three-quarters of the world’s cobalt, it […]

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Oil Prices Drop as Israel and Hamas Agree to Ceasefire

The New Diplomat — Thu, 09 Oct 2025 05:05:47 +0000

Oil prices fell in early morning trade on Thursday in Asia as Israel and Hamas agreed to a pause in fighting and a hostages-for-prisoners exchange, under a framework advanced by the Trump administration. Under the agreement, Hamas will release as many as 20 living hostages this weekend, and Israel will pull back forces to a negotiated […]

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Central Banks Now Hold More Gold Than U.S. Treasuries

The New Diplomat — Wed, 08 Oct 2025 18:29:01 +0000

Key Takeaways For the first time since 1996, foreign central banks’ gold reserves have overtaken their U.S. Treasury holdings. Persistent gold buying and rising U.S. debt risks are reshaping reserve composition toward hard assets. Central banks have crossed a symbolic line: their combined gold reserves now exceed their U.S. Treasury holdings for the first time […]

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Alleged Christian Genocide: Nigerian Lawmakers Slam US Bill, Call It A “Malicious lie”

The New Diplomat — Wed, 08 Oct 2025 16:24:20 +0000

By Abiola Olawale The House of Representatives on Wednesday condemned a United States congressional bill accusing Nigerian officials of allegedly enabling “systematic” religious killings, particularly against Christians. Lawmakers branded the legislation a “gross misrepresentation” of the country’s security woes, insisting that violence stems from terrorism and banditry, not state-sponsored persecution. This position comes in response […]

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Alleged ₦4bn Fraud: Drama as Kano Anti-Graft Agency Moves to Probe Ganduje’s Govt

The New Diplomat — Wed, 08 Oct 2025 16:19:04 +0000

By Abiola Olawale The Kano State Public Complaints and Anti-Corruption Commission (PCACC) has launched an investigation into an alleged diversion of over ₦4 billion in public funds during the tenure of former Governor Abdullahi Umar Ganduje. The New Diplomat reports that the probe is said to be centered on the Dala Inland Dry Port project. […]

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APC secures two-thirds senate majority as Enugu Labour Party senator defects

The New Diplomat — Wed, 08 Oct 2025 16:03:38 +0000

By Obinna Uballa The ruling All Progressives Congress (APC) has tightened its grip on the Senate after Senator Kelvin Chukwu, representing Enugu East, defected from the Labour Party (LP) to the APC. Senate President Godswill Akpabio formally announced Chukwu’s defection during Wednesday’s plenary, raising the APC’s strength in the upper chamber to 73 seats, a […]

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Crude Oil Futures Rise on Supply Data and OPEC+ Outlook

The New Diplomat — Wed, 08 Oct 2025 15:29:55 +0000

Oil prices rose early on Wednesday after an industry report showed on Tuesday that the crude stocks at the key Cushing hub fell further and OPEC+ somewhat eased fears of an imminent glut with a planned modest increase in output. As of 8:05 a.m. EDT on Wednesday, WTI Crude prices were up by 1.44% at $62.62, while […]

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Africa’s $100bn trade finance gap in focus as Afreximbank hosts 25th Trade Finance Seminar Nov 4

The New Diplomat — Wed, 08 Oct 2025 15:14:32 +0000

By Obinna Uballa The African Export-Import Bank (Afreximbank) will hold the 25th edition of its flagship Trade Finance Seminar (ATFS2025) in Abidjan, Côte d’Ivoire, from November 4 to 6, as the continent grapples with an annual trade finance gap of up to $100 billion. A one-day Factoring Workshop will follow on November 7, a statement […]

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World Bank: Nigeria’s single-digit inflation goal unrealistic, price pressures remain

The New Diplomat — Wed, 08 Oct 2025 14:39:22 +0000

By Obinna Uballa The World Bank has cast doubt on Nigeria’s ambition to bring inflation down to single digits in the near term, warning that the country remains trapped in double-digit inflation while most of Sub-Saharan Africa is moving toward price stability. In its latest Africa’s Pulse report released on Tuesday, the Bank projected that […]

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Senate Swears In Two New Senators; Joe Ikpea, Nwachukwu

The New Diplomat — Wed, 08 Oct 2025 14:34:05 +0000

By Abiola Olawale The Nigerian Senate has officially sworn in two newly elected senators, Dr. Joseph Ikpea (APC, Edo Central) and Chief Emmanuel Nwachukwu (APGA, Anambra South), marking a fresh chapter in representation for their respective districts. The swearing-in ceremony was presided over by the President of the Senate, Senator Godswill Akpabio. The swearing-in took […]

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