News

By Sabiu Abdullahi

The Dangote Petroleum Refinery & Petrochemicals has reduced the ex-gantry price of Premium Motor Spirit (petrol) to N1,200 per litre. This marks a reversal of its earlier price increase after a drop in global crude oil prices linked to geopolitical developments.

The new price reflects a reduction of N75 from the previous rate of about N1,275 per litre. The refinery had earlier raised prices due to rising international oil costs and concerns over supply.

A senior official of the refinery confirmed the adjustment on Tuesday night. He explained that the decision followed changes in global crude oil benchmarks and market conditions.

“The adjustment is in line with global market trends. You are aware of the ongoing tensions in the Middle East and their impact on crude oil prices. These are external factors that directly influence refined product pricing,” the official, who spoke in confidence due to the lack of authorisation to speak on the matter, stated.

He also said, “Petrol has been reviewed upward by N75 to N1,275 per litre, which is about a five per cent increase, while diesel has increased more significantly by N200 to N1,950 per litre. These changes reflect the realities of the international market.”

By Wednesday morning, the same official confirmed that the refinery had reversed the earlier increase. He said the latest decision followed a sharp drop in crude oil prices after former United States President Donald Trump announced a conditional two-week ceasefire arrangement with Iran. The development reduced concerns about possible supply disruptions in the Middle East.

Data showed that Brent crude fell by 13.28 per cent to $94.76 per barrel on Wednesday. US West Texas Intermediate also declined by 14.72 per cent to $96.31 per barrel.

The drop in prices followed signs of easing tensions after Trump said the United States would suspend planned military action against Iran for two weeks. The move depends on restoring safe passage through the Strait of Hormuz.

“Yes, the price has been reversed. This follows the current price of crude oil,” the official added during a telephone interview.

The refinery also issued a statement to address speculation about further price increases. It clarified that no additional hike had been introduced and that prices were instead adjusted downward.

“A source at the company confirmed that its pricing structure remains intact, with the gantry price at N1,200 per litre and the coastal price at N1,153 per litre.

“We are maintaining our existing price and have not implemented any new pricing for our customers,” the statement read.

The company added that it remains focused on ensuring consistent fuel supply within Nigeria and across the region.

The development comes at a time when Nigeria’s downstream petroleum sector faces continued uncertainty due to fluctuations in global oil prices, exchange rates, and supply chain challenges.

Since it began operations in September 2024, the Dangote refinery has played a major role in shaping fuel supply and pricing in the country. Its latest move highlights the growing link between domestic fuel prices and global market trends following the deregulation of the sector.

By Sabiu Abdullahi

Iran has announced that the United States has accepted “in principle” a 10-point proposal aimed at ending the ongoing conflict between the two countries.

According to Iran’s state-run Islamic Republic of Iran Broadcasting (IRIB), the country’s Supreme National Security Council said on Wednesday that the proposal would form the basis for upcoming negotiations. The talks are expected to focus on reaching a comprehensive agreement to end hostilities.

The report stated that the proposal includes guarantees of non-aggression, continued Iranian control over the Strait of Hormuz, and recognition of Tehran’s right to enrich uranium. It also calls for the removal of all US primary and secondary sanctions, the end of measures imposed by the United Nations Security Council and the International Atomic Energy Agency, as well as compensation payments and the withdrawal of US combat forces from the region.

The council emphasised that any final deal would depend on whether Iran’s conditions are met and on the completion of detailed negotiations. It added that safe passage through the Strait of Hormuz would be maintained during the negotiation period in coordination with Iran’s armed forces.

Negotiations are scheduled to begin on Friday in Islamabad, with Pakistan acting as mediator. The discussions are expected to last up to two weeks.

Earlier, US President Donald Trump said Washington would pause attacks on Iran for the same period, describing Tehran’s proposal as a “workable basis” for discussions.

Iranian media reported that the plan outlines an end to hostilities across all fronts, including Lebanon, and proposes a broader framework for a lasting settlement.

The New York Times reported that the proposal was delivered through Pakistani mediators and is intended to serve as a comprehensive roadmap towards a permanent resolution of the conflict.

The proposal also includes provisions to reopen the Strait of Hormuz to maritime traffic, with a fee of $2 million per vessel to be shared between Iran and Oman. Instead of direct compensation, Iran is expected to use its share of the transit revenue to rebuild infrastructure damaged during recent attacks.

By Sabiu Abdullahi

A U.S. Senator, Edward J. Markey, has demanded the immediate removal of President Donald Trump from office. He described the president’s recent remarks as dangerous and without precedent.

In a statement issued in Boston on April 7, 2026, Markey said, “With each passing day, it becomes increasingly apparent that Donald Trump is unstable and a clear and present danger, not just to the American people but to the world. He must be removed from office before he causes incalculable and unfathomable harm.”

He dismissed the idea that limited legislative steps would address the situation. Markey stressed that stronger action was necessary.

“At this point, a war powers resolution, although required under our constitutional order, will not be enough. We have a warmonger in the White House,” he said.

“He has threatened war crimes on an apocalyptic scale and appears eager to commit them, including through the possible use of nuclear weapons. We cannot fund this illegal war. The Congress must act now.”

The senator called on lawmakers to move quickly. He outlined constitutional options available to Congress and the executive branch.

“The House and Senate must return to session. The House must pass articles of impeachment, and then the Senate must vote to convict and remove the President. Or, the cabinet and Vice President, with congressional concurrence, must invoke the 25th Amendment and remove Trump,” he said.

Markey warned that the situation carries serious global implications.

“His threats cannot be dismissed as mere rhetoric. This is as grave a moment as the world has faced in the nuclear era,” he said.

Meanwhile, Republican Congressman Nathaniel Moran has taken a more cautious stance. He distanced himself from extreme rhetoric linked to the rising tension between the United States and Iran.

In a statement released on April 7, 2026, Moran emphasized the importance of strong national defense. He also stressed that military action must follow legal and moral standards.

“The United States of America must always be prepared to use overwhelming military force when necessary to defend our national security interests and protect Americans at home and abroad,” Moran said.

He added that presidential powers must remain within constitutional limits.

“And, a President should have the latitude to make decisions to that end, but only to the extent that those decisions are also consistent with the inherent authority of a Commander-in-Chief under the U.S. Constitution and the provisions of the War Powers Resolution,” he stated.

Moran explained that his earlier support for Trump’s actions on Iran was based on their alignment with national security and legal authority.

“To date, I have supported the President’s decisions relating to the Iranian conflict because they were consistent with these authorities and the ultimate goal of protecting national security interests,” he added.

However, he rejected calls that suggest wiping out an entire society. He said such statements go against American values.

“At the same time, what sets America apart is not only our strength, but how we use it. Our nation has always conducted military operations for just causes and through just and moral means. This must continue in the future; otherwise we forfeit our legitimacy to lead the world,” Moran said.

“So, let me be clear: I do not support the destruction of a ‘whole civilization.’ That is not who we are, and it is not consistent with the principles that have long guided America,” he said.

Reaffirming his position, Moran said, “I have and will continue to support a strong national defense—one that is focused, disciplined, and firmly rooted in protecting the safety and security of the American people. But, how we protect the lives of the innocent is just as important as how we engage the enemy.”

He concluded by stating, “America is great because America is good.”

The remarks from both lawmakers come amid growing political reactions to President Trump’s recent comments on the Iran crisis. The president had earlier warned that “a whole civilization will die tonight” as tensions continued to rise.

He also said, “However, now that we have Complete and Total Regime Change, where different, smarter, and less radicalized minds prevail, maybe something revolutionarily wonderful can happen, WHO KNOWS? We will find out tonight, one of the most important moments in the long and complex history of the World. 47 years of extortion, corruption, and death, will finally end. God Bless the Great People of Iran!”

By Salmanu Isa Darazo


Nigeria’s banking sector has entered a new phase of strength and global relevance following the successful completion of a sweeping recapitalisation exercise spearheaded by the Central Bank of Nigeria (CBN).

The exercise, which mandated banks to meet new capital thresholds by March 31, 2026, is widely regarded as the most significant reform since the 2005 consolidation era—signalling a bold regulatory shift aimed at repositioning the financial system for long-term economic transformation.


A Strategic Reform Anchored by the CBN

At the heart of the exercise is the CBN’s vision to build a resilient, well-capitalised banking system capable of supporting Nigeria’s ambition of a $1 trillion economy. By enforcing higher capital requirements, ranging from ₦10 billion for regional non-interest banks to ₦500 billion for international commercial banks—the apex bank has effectively reset the industry’s financial architecture.

The results are striking: Nigerian banks collectively raised ₦4.65 trillion, with 33 institutions meeting the new thresholds. Notably, the recapitalisation attracted both local (72.55%) and international (27.45%) investments, underscoring renewed investor confidence in Nigeria’s financial system and regulatory credibility.


Strengthening Stability and Global Competitiveness

Analysts note that the recapitalisation significantly enhances banks’ ability to absorb economic shocks while aligning Nigeria’s financial system with global standards such as Basel III.

Beyond compliance, the reform signals a transition to stronger corporate governance, improved risk management, and enhanced regulatory oversight—all driven by the CBN’s supervisory framework.

This positions Nigerian banks not just as domestic financial intermediaries, but as competitive players in the global financial ecosystem.


Unlocking Financing for National Development

A key outcome of the CBN-led reform is the expansion of banks’ lending capacity. With stronger balance sheets, financial institutions are now better equipped to fund large-scale projects across critical sectors, including infrastructure, energy, manufacturing, and technology.

This increased capacity is expected to accelerate Nigeria’s industrialisation drive and support export diversification—key pillars of the Federal Government’s economic agenda.


CBN’s Role in Policy Coordination and Economic Stability

The recapitalisation also reflects growing synergy between monetary and fiscal authorities. By aligning its policies with government growth objectives, the Central Bank of Nigeria is strengthening policy transmission mechanisms, improving liquidity management, and reinforcing inflation control measures.

This coordinated approach enhances macroeconomic stability while ensuring that financial sector reforms translate into real economic outcomes.


A Foundation for Inclusive Growth

Beyond macroeconomic gains, the reform carries significant implications for financial inclusion. A stronger banking system is better positioned to expand credit access to small and medium enterprises (SMEs), support grassroots economic activities, and deepen financial penetration across underserved communities.

The CBN’s broader objective, analysts say, is to build a financial system that is not only robust but inclusive—capable of delivering growth that is both sustainable and widely shared.










The Road Ahead

While most banks have met the new requirements, those yet to fully recapitalise remain operational and are progressing toward compliance under CBN supervision.

Industry observers agree that the recapitalisation marks a turning point—laying the groundwork for a stronger, more transparent, and globally competitive banking sector.

Conclusion

The recapitalisation exercise is more than a regulatory adjustment—it is a strategic economic intervention led by the Central Bank of Nigeria. By strengthening financial institutions, boosting investor confidence, and aligning with national development goals, the CBN has set the stage for sustained economic growth and stability.

For Nigeria, the message is clear: a resilient banking system is not just desirable—it is essential for the future.

Salmanu Isah Darazo is an analyst and publisher, he can be reached via Salmanudrz@gmail.com

By Sabiu Abdullahi

A synagogue in Tehran was “completely destroyed” following United States-Israeli airstrikes, Iranian media reported, as overnight attacks across Iran left more than a dozen dead.

“According to preliminary information, the Rafi-Nia Synagogue … was completely destroyed in this morning’s attacks,” reported Shargh newspaper on Tuesday.

Iran’s semi-official Mehr news agency said the synagogue collapsed after an adjacent residential building in central Tehran was targeted. Video footage showed civil defence workers amid the rubble, with Hebrew-language books scattered on the ground.

The report added that narrow streets around the attacked building caused significant damage to the exterior and interior of neighboring structures. There was no immediate confirmation of casualties at the synagogue.

In a video shared on Telegram by Iran’s official IRIB News, Homayoun Sameh, a Jewish representative in the Islamic Consultative Assembly, said: “the Zionist regime showed no mercy to this community during the Jewish holidays and targeted one of our ancient and holy synagogues. Unfortunately, during this attack, the synagogue building was completely destroyed and our Torah scrolls were left under the rubble.”

Judaism is among Iran’s legally recognised minority religions, and the country has a small Jewish population, though many fled after the 1979 Islamic revolution. Shargh described the synagogue as “one of the most important places for Khorasan Jews to gather and celebrate.”

The strikes were part of a series of US-Israeli attacks overnight. Local media reported at least 15 people killed across Iran. Mehr stated that six bodies were recovered from rubble in Pardis, east of Tehran, while officials confirmed nine fatalities in an Israeli air attack on a residential area in Shahriar, west of Tehran province.

By Sabiu Abdullahi

The Speaker of the Kebbi State House of Assembly, Muhammad Usman Zuru, has passed away.

Zuru died on Monday night in an Egyptian hospital, where he was receiving treatment for an undisclosed illness. Sources close to the Kebbi State Government confirmed his death, but details of his condition were not released.

Until his passing, Zuru represented Zuru Constituency in the state assembly and was considered a key figure in the legislature.

Confirming the development, an aide to the governor on Communication and Strategy, Idris Zuru, described the news as shocking.

“The death of the Speaker, Rt. Hon. Muhammad Usman Zuru, came to us as a rude shock. It is a painful loss not only to Kebbi State but to the entire nation,” he said.

He added that further information would be shared by the government.

“We are still gathering full details surrounding his passing. The government will make an official statement and announce burial arrangements in consultation with the family,” Idris Zuru stated.

Additional announcements regarding funeral arrangements are expected from both the state government and the family.

By Sabiu Abdullahi

The Theatre Command of the Joint Task Force (North East), Operation HADIN KAI (OPHK), has apprehended five individuals linked to the unlawful discharge of firearms at a social gathering, which resulted in the death of a teenage girl.

Reports show that a stray bullet, allegedly fired by members of a vigilante group, claimed the life of a 14-year-old girl last Saturday inside her family home at the University of Maiduguri Teaching Hospital (UMTH) quarters.

In a statement released Monday, the Media Information Officer of OPHK, Lt. Col. Sani Uba, said the troops of Operation HADIN KAI, together with the Civilian Joint Task Force (CJTF), arrested the five suspects in the Ngomari general area.

“The incident occurred at about 2:00pm on April 4, when vigilantes, later identified as members of an escorts team attached to the Chairman of a Local Government Area engaged in sporadic firing into the air during a wedding celebration at Umaru Musa Yar’Adua Teachers Staff Quarters.

“The reckless act led to the death of a young girl. The troops acted swiftly, traced and apprehended five suspects identified as Muhammad Husaini (28), Abba Jiddu (25), Abba Kolo Mohammed (20), Ali Adam (20), and Nura Mohammed (18).”

Lt. Col. Uba added that the suspects are currently in custody and will be handed over to the appropriate authorities for further investigation and prosecution in accordance with extant laws.

By Abdullahi Mukhtar Algasgaini

The Independent Broadcasters Association of Nigeria (IBAN) has demanded that the Minister of the Federal Capital Territory, Nyesom Wike, retract his comments against journalist Seun Okinbaloye and issue a public apology, according to a report by TheCable.

IBAN also threatened to boycott all press briefings organised by Wike if he fails to meet the demand.

The threat follows Wike’s statement that he could “shoot” Okinbaloye while criticising the journalist’s opinion on a television programme. Wike later clarified that he did not mean the remark literally.

The association said that despite the subsequent clarification, such language is unbecoming of a public official, as it could intimidate journalists and further worsen the already challenging environment in which they operate.

IBAN urged the minister to retract his statement, tender an apology, and demonstrate support for press freedom, warning that failure to do so would lead them to suspend coverage of all his official activities.

By Abdullahi Mukhtar Algasgaini

Military forces have dealt a fresh blow to insurgent groups operating in central Nigeria, neutralizing two suspected terrorists and arresting a kidnapper during back-to-back clearance operations in Plateau State.

The raids, conducted by troops of Operation ENDURING PEACE under the special mandate of Operation WUTAN DAJI, targeted known insurgent corridors in Wase Local Government Area on April 4, 2026. Local vigilantes joined the coordinated mission across Babangida, Adua, and Bokayi villages within the dense Dutsen Zaki forest.

A fierce firefight erupted along the Babangida–Adua road, where troops engaged armed terrorists. Two suspects were killed on the spot, while others fled into the forest with gunshot wounds, according to military sources. A subsequent search recovered one locally fabricated firearm, a belt containing 105 rounds of 7.62mm PKT ammunition, 30 rounds of 7.62mm special ammunition, and a cutlass.

In a separate operation early Sunday, troops in Namu District of Qua’an Pan Local Government Area intercepted four suspected armed individuals based on credible intelligence. A search revealed 100 rounds of 7.62mm special ammunition in their possession.

When troops moved to dismantle the suspects’ hideout, they came under heavy fire from the terrorists’ associates. In the ensuing chaos, three of the four apprehended suspects attempted to escape and were struck down by their own accomplices’ gunfire.

Meanwhile, in Shendam Local Government Area at about 9:35 a.m., troops working with local residents arrested a suspected kidnapper at Gidan Mangoro village. The suspect is linked to a kidnapping incident that occurred in the area on April 3.

All suspects are now in custody facing further investigation and potential legal action. The military has called on citizens to remain vigilant and report suspicious activity as clearance operations continue.

By Uzair Adam

The Federal Ministry of Education on Monday launched an N8.5 billion public-private partnership (PPP) project aimed at transforming Federal Government College (FGC), Kano, into a National Centre of Excellence.

The project involves the development of 18 critical infrastructure and assets as well as the renovation of 15 additional facilities at the unity college.

The groundbreaking ceremony, held at the school premises, is part of the federal government’s efforts to address infrastructure deficits in public schools through collaboration with the private sector.

Speaking at the event, the Minister of State for Education, Professor Suwaiba Ahmad, said the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and represents a strategic effort to improve learning environments across federal institutions.

She said the project, valued at over N8 billion, would significantly improve the physical and academic landscape of the college.

According to her, the intervention will include the construction of facilities such as a skill acquisition and entrepreneurship centre, modern hostels, staff quarters, a health centre and other essential infrastructure, alongside the renovation of several academic and support facilities.

“The initiative is not just about infrastructure alone; it is about impact,” she said.

Professor Ahmad noted that the growing demand for quality education has placed pressure on existing facilities, making it necessary for the ministry to adopt innovative financing models such as PPP to bridge infrastructural gaps.

She added that the federal government oversees nearly 120 unity colleges across the country and cannot solely fund large-scale infrastructure projects in all of them.

“This PPP land-swap model demonstrates the federal government’s resolve to leverage private sector efficiency, ensure optimal use of public assets and deliver value for money,” she said.

The minister explained that the land designated for the project had remained undeveloped since the establishment of the college but would now be utilised to improve educational infrastructure.

She added that the transformation of FGC Kano was deliberate, noting that the institution plays a key role in promoting national unity, excellence and inclusivity.

Professor Ahmad also assured stakeholders that the ministry had put in place mechanisms to ensure transparency, accountability and proper oversight in the implementation of the project.

Representing the Kano State Governor, Abba Kabir Yusuf, the Commissioner for Land and Physical Planning, Abduljabbar Muhammad Umar, expressed the state government’s support for the initiative.

He said the project would help optimise land assets that had remained unused for years while also creating value for the government and surrounding communities.

“We are delighted that for the first time the landed asset that has been lying fallow for years will be optimised in a way that properly captures the value of land in Kano State,” he said.

Umar also urged the project promoters to ensure effective stakeholder engagement in order to clearly communicate the benefits of the initiative.

“We call on the project promoter to provide quality infrastructure in a way that the project will serve as a reference point for other PPP projects across Nigeria,” he added.

Earlier, the Managing Director of Pluck Global Nigeria Limited, the private partner in the project, Musa Diktali, said the development reflects efforts to bridge infrastructure gaps in public institutions through collaboration between government and private investors.

He said the project, valued at over N8.5 billion, is expected to be completed within 18 months.

According to him, the PPP arrangement allows private investors to finance infrastructure projects while the government provides land as part of the partnership agreement.

“As you know, the government alone cannot fund infrastructure, so private investors need to come in and support the development of critical infrastructure,” he said.

He added that the project would benefit students of the college and other stakeholders in the education sector.

The event was attended by officials of the Federal Ministry of Education, representatives of the Kano State Government, school management, alumni members, traditional rulers and other stakeholders.