US mining companies are lining up to invest in Venezuela, Interior Secretary Doug Burgum said during a visit to the country on Wednesday, where he pressed for greater access to critical minerals.

Burgum represents an administration that claims to effectively control Venezuela and its vast natural resources following the removal of Nicolás Maduro.

He is the second senior US official to visit Caracas since an American bombing raid on January 3 left around 100 people dead and saw Maduro and his wife flown to New York to face US drug trafficking charges.

Accompanied by more than two dozen mining executives, Burgum described the group as representing “billions of dollars in investments and billions of dollars in well-paid jobs.”

“They are eager to get started, and they are eager to cut the red tape to allow that capital investment to flow,” he said after meeting with interim President Delcy Rodriguez.

Burgum, who heads President Donald Trump’s National Energy Dominance Council, described cooperation between Caracas and Washington as “unlimited.”

His visit follows that of Energy Secretary Chris Wright last month, who called for a “dramatic increase” in Venezuela’s oil output and highlighted “tremendous opportunities” for both countries.

The shift in tone reflects the altered US-Venezuela relations since Maduro’s capture. Trump has allowed Rodriguez, formerly vice president, to serve as interim leader as long as she complies with his directives regarding access to Venezuela’s natural resources.

In another sign of the diplomatic reset, the US Department of Transportation approved Envoy Air, an American Airlines subsidiary, to operate direct flights between Miami and the Venezuelan cities of Caracas and Maracaibo. These will be the first direct flights since US-Venezuela relations deteriorated in 2019.

— Gold and Coltan —

While US attention has focused on Venezuela’s oil, Burgum noted the country is also “rich in critical minerals.” In addition to gold and diamonds, Venezuela has deposits of bauxite and coltan, a mineral used in mobile phones, laptops, and other electronics. Mining activity is concentrated in the southeastern Orinoco arc.

Environmentalists have condemned the expansion of illegal mining in the area, citing deforestation and river pollution. Rodriguez, who recently overhauled the state-controlled oil sector to attract private investment, is now planning reforms to the mining code. Her brother, Congress Speaker Jorge Rodriguez, said Monday that the changes would allow “large foreign companies” to exploit minerals and rare earth elements.

— ‘Doing a great job’ —

Trump has praised Rodriguez’s compliance, posting on Truth Social on Wednesday that she was “doing a great job and working with US Representatives very well.”

“The Oil is beginning to flow, and the professionalism and dedication between both Countries is a very nice thing to see,” he wrote.

Rodriguez thanked Trump on Telegram for the US administration’s “kind willingness to work together for the benefit of the people of the United States and Venezuela.”

On Tuesday, Venezuelan state oil firm PDVSA announced new oil contracts with the United States. Since January, PDVSA has shipped over 80 million barrels of crude to the US, according to Trump. These deals come amid concerns about falling global oil output due to the war in the Middle East, which has already driven crude prices to their highest level in 18 months.

A satirical campaign urging Donald Trump’s youngest son, Barron Trump, 19, to be drafted into the US military has gained viral attention as the US and Israel continue their strikes on Iran. The hashtag #SendBarron has been trending widely on social media.

Operation Epic Fury, which involves extensive airstrikes by the US and Israel against Iran, has so far resulted in the deaths of six American service members.

Donald Trump has faced criticism for what commentators describe as a lack of visible concern over these casualties. During brief remarks at a Medal of Honor ceremony following the attacks, Trump appeared more focused on his plans for the White House’s new ballroom than on the loss of life, prompting speculation about how he might react if his own son were deployed.

In response, former South Park writer Toby Morton created the satirical website, DraftBarronTrump.com, which encourages the president to send Barron to war. The site humorously praises Barron’s “courage” and “proven genes” while juxtaposing images of him napping.

“America is strong because its leaders are strong,” reads a subheading on the website. “President Trump proves that every day. Naturally, his son Barron is more than ready to defend the country his father so boldly commands.”

The site concludes: “Service is honor. Strength is inherited. Dog Bless Barron.”

DraftBarronTrump.com also features absurdist testimonials from Barron’s family. Donald Trump Jr said, “This moment is really about Barron, okay? Always has been. He represents strength, courage, and service. I’ll be honoring that sacrifice in my own way, mainly by talking about it from a safe distance.”

Eric Trump added: “People always say I’m stupid, which is totally unfair, because I understand a lot about pancakes. Pancakes are complex. You’ve got batter, heat, timing. If you rush it, you ruin everything. I think about pancakes a lot. Mostly pancakes.”

Morton, known for buying website names and creating satirical campaigns, also promoted ResignChuck.com, which calls for Democratic Party leader Chuck Schumer to resign over his perceived inaction toward Trump’s policies.

The launch of DraftBarronTrump.com fueled the trending hashtag #SendBarron, with thousands of social media users jokingly calling for Barron to serve alongside soldiers his father has sent into battle.

Barron’s eligibility for military service may be limited due to his height of 6’9’’ (2.05m), exceeding the maximum enlistment limit of 6’8’’ (2.03m) in most military branches. This contrasts with Donald Trump’s own avoidance of the Vietnam draft, which he famously attributed to a bone spur diagnosis. Dr. Elysa Braunstein and Sharon Kessel, daughters of the podiatrist who signed the original diagnosis, told The New York Times that it was “a favour” to Trump’s father, Fred Trump, who was their father’s landlord.

By Sabiu Abdullahi

The Muslim Rights Concern (MURIC) has formally taken its demand for the removal of Professor Joash Amupitan, Chairman of the Independent National Electoral Commission (INEC), to the National Assembly.

MURIC and allied Islamic organisations are seeking Amupitan’s ouster due to his authorship of an 80-page legal brief alleging Christian genocide in Nigeria.

In a statement on Wednesday, MURIC’s Executive Director, Professor Ishaq Akintola, said, three months after Islamic organisations first called for Amupitan’s removal, he remains in office.

Akintola accused the presidency of showing “little interest in addressing complaints from Islamic groups,” despite what he described as “indisputable evidence” that the INEC chairman made false allegations against Nigerian Muslims before an American audience.

He questioned the federal government’s commitment to fairness, suggesting it responds more readily to “frivolous demands” than to “evidence-based complaints from law-abiding Islamic organisations.”

MURIC voiced concern that Amupitan’s continued leadership could erode public confidence in INEC’s neutrality ahead of the 2027 general elections. The group warned that alleged anti-Muslim bias might become a contentious issue in future electoral disputes.

“Since the presidency appears uninterested in listening to the complaints of Muslims against Amupitan, we must take his case to the court of the people’s representatives, the National Assembly,” Akintola said.

He noted that the call for removal was not about the INEC chairman’s religion but about what MURIC described as a “fanatical and hateful” attitude toward Nigerian Muslims.

The organisation urged lawmakers in both chambers to investigate the matter, stressing that Muslims, as citizens and taxpayers, deserve a platform to be heard.

MURIC also reiterated that Amupitan was unsuitable to serve as an impartial electoral umpire in 2027.

According to Daily Trust, Amupitan contributed to the 2020 publication Nigeria’s Silent Slaughter: Genocide in Nigeria and the Implications for the International Community, released by the International Committee on Nigeria (ICON) and the International Organisation on Peace-building & Social Justice (PSJ).

His 80-page chapter, titled Legal Brief: Genocide in Nigeria, argued that the scale and pattern of killings and displacement of Christians met the threshold for genocide under international law. The brief also criticised the federal government for failing to protect affected communities and deliver justice for victims.

By Nasiru Ibrahim 

Limited information in the market leads to inefficiency and misallocation of resources. A low-quality product or service can command a higher price, while high-skilled labour may receive lower wages. A seller with a high-quality product or service may incur losses because buyers cannot easily verify quality and are unwilling to pay a premium, fearing they may be overpaying for a low-quality alternative.

For example, a faulty car may sell at a high price because buyers lack technical knowledge, rely on appearances, brand reputation, or sellers’ claims, and face high inspection costs. A firm that chooses to be honest may lose by earning a lower profit margin because dishonest competitors exaggerate quality, cut corners, or hide defects while charging similar prices.

A quack or less-skilled consultant with fewer credentials and a weak track record may secure contracts faster due to information gaps, strong social networks, aggressive self-marketing, and clients’ inability to assess true competence before hiring.

In many markets, buyers seek to identify quality products or services by looking for higher prices, good public relations, branding, and heavy advertising. Poor-quality products and inefficient firms can imitate these signals, so both high- and low-quality products are often sold at roughly the same price. Under rational expectations, sellers understand that buyers believe higher prices signal higher quality. Buyers, lacking better information, rely on price as a shortcut, and low-quality sellers exploit this belief, leading to market failure similar to Akerlof’s Market for Lemons.

Demand for Experts, Agents, and Intermediaries

Information asymmetry increases the demand for experts, agents, consultants, brokers, and intermediaries who can distinguish good quality from bad. These agents help consumers get better deals and higher-quality products or services.

While this creates jobs, it does not necessarily solve consumer exploitation. Agents may collude with sellers, prioritise commissions over client welfare, exploit client ignorance, or add extra layers of cost without improving quality.

For example, if tax policy were simple and clearly understood, few people would need tax consultants. Complex systems create jobs for consultants and financial literacy experts. While this raises incomes and GDP, it can also raise prices because the cost of intermediaries is embedded in goods and services, contributing to inflation.

Efficiency vs Employment Trade-Off

Reducing information asymmetry improves efficiency but can increase unemployment in the short run. Many jobs—brokers, consultants, agents, and middlemen—exist mainly because consumers lack information. When governments improve transparency through clear regulations, digital platforms, and public data, fewer intermediaries are needed. As a result, demand for these expert roles declines, leading to job losses.

This creates a policy trade-off: greater transparency improves efficiency but reduces employment in information-based intermediary jobs. To manage this, governments should invest in retraining and help displaced workers move into sectors where skills add real value rather than exploiting information gaps.

Moral Hazard—Buyers Can Also Cheat

Moral hazard occurs after a transaction, when one party changes behaviour because costs are partly borne by the other party. Buyers are not always passive; they may also cheat when incentives allow.

Examples include tenants damaging rented property because repair costs are borne by landlords, insured individuals exaggerating losses, clients hiding information or misusing professional advice, and borrowers diverting loans to unintended uses.

Buyer-side moral hazard worsens inefficiency. Sellers respond by raising prices, tightening contracts, reducing quality, or exiting the market. Honest buyers then face higher costs and fewer choices, while resources are allocated to monitoring and enforcement rather than to productive activity. Information asymmetry is therefore two-sided, and policies must address both adverse selection and moral hazard through better contracts, monitoring, and enforcement.

Guarantees, Warranties, and Mixed-Quality Equilibrium

Guarantees and warranties are often introduced to signal product quality. High-quality sellers are willing to offer guarantees because defects are less likely, which should push low-quality products out of the market.

However, guarantees also create buyer-side moral hazard. Buyers may reduce care, overuse, or deliberately damage products because repairs or replacements are covered. This increases warranty costs for all producers.

High-quality firms may respond by raising prices, limiting coverage, or reducing quality investment. Low-quality firms can mimic guarantees by pricing in expected abuse. As a result, good and bad products coexist in equilibrium, despite the presence of guarantees. Guarantees improve trust but do not fully resolve market failure. Moral hazard shifts costs rather than eliminating inefficiency.

Digital Platforms, Formalization, and Consumer Protection

E-commerce and digital marketing platforms reduce information asymmetry by increasing price transparency, reviews, ratings, comparisons, and direct access to sellers. These tools reduce reliance on intermediaries and help consumers verify quality.

In cities like Abuja, Port Harcourt, and Lagos, consumers can reduce exploitation by:

Asking for the previous selling price and comparing across sellers.

Signaling willingness to switch if the price is unfair.

Checking online prices, reviews, or multiple shops to reduce information asymmetry!

Government can also reduce information asymmetry by formalizing markets, which improves record-keeping, transparency, standardization, and contract enforcement. Clear, fair, and incentive-based tax systems encourage voluntary compliance, provide access to credit, legal protection, and government contracts.

The government may invest ₦100 million in upgrading informal markets in Kano, Lagos, and Port Harcourt and taxing ₦20 million annually per market allows the government to recover costs within five years while boosting GDP and creating jobs.

Without incentives, multiple overlapping taxes increase compliance costs and deepen informality. Corruption, waste, and misuse of funds reduce citizen trust. Transparent, fair, and accountable government policies promote efficiency, formalisation, and market growth, while distrust, overconfidence, and policy failures harm the economy.

Ibrahim is a graduate of Economics from Bayero University, Kano and can be reached via nasirfirji4@gmail.com.

By Sabiu Abdullahi

The Nigerian Army has advised soldiers serving under the 14 Brigade in Ohafia to respect human rights and safeguard the rights of children while carrying out their duties.

The directive was delivered during the opening of a two-day sensitisation workshop for troops of the brigade. The event took place in Umuahia, Abia State, on Wednesday as part of the Army’s Civil-Military Affairs programme.

Army authorities also warned the soldiers against engaging in gambling and drug abuse. The troops were instructed to maintain discipline and professionalism while performing their responsibilities.

In addition, the soldiers received a warning about the use of social media. They were told not to upload confidential photographs or sensitive information online. Officials said such materials could be accessed by criminal groups and misused.

The Chief of Civil-Military Affairs in the Nigerian Army, Maj. Gen. Musa Awwal Etsu-Ndagi, explained that the workshop aims to remind troops about their responsibilities and the rights of civilians.

He said the training was designed to educate soldiers on their own rights, the rights of members of the public, and the protection of children. He also stressed the importance of proper conduct while interacting with civilians.

Etsu-Ndagi advised the soldiers to complete their Next of Kin forms accurately and ensure the information remains current. He said updated records would protect the families of soldiers from exploitation if a service member dies.

The senior officer also encouraged the troops to promote unity and understanding within their families.

During the workshop, the Deputy Controller of Narcotics at the National Drug Law Enforcement Agency (NDLEA), Bekwele Chukwu, addressed the soldiers. He spoke about the dangers associated with the use of prohibited or controlled drugs. He warned that such substances could affect a person’s mental stability.

Earlier in his remarks, the Commander of the 14 Brigade, Brigadier General Ahmad Mansur Dikko, expressed appreciation to the Chief of Army Staff, Lt. Gen. Waidi Shaibu, for organising the workshop for the troops.

By Sabiu Abdullahi

Suspected Boko Haram/ISWAP fighters have killed at least nine Nigerian soldiers and the Chief Imam of Ngoshe community in Gwoza Local Government Area of Borno State.

Security sources said the attack took place on Tuesday night shortly after residents ended their Ramadan fast.

One source, who spoke on condition of anonymity because he was not authorised to speak publicly, said the insurgents stormed the town in large numbers with heavy weapons. According to the source, the attackers confronted troops stationed in the area and overpowered them during the assault.

Another security source said the insurgents also moved into the residential parts of Ngoshe. The source said the town’s Chief Imam was killed during the raid. The attackers also abducted more than 100 women and children. Several people sustained injuries.

‘As I am speaking to you now, the entire people of Ngoshe have fled and nobody is left in the community. Most of us have taken refuge in Pulka,’ the source said.

The source further alleged that someone within the community might have assisted the attackers.

‘They came prepared and entered Ngoshe town with the help of an insider, killing 9 soldiers, slaughtering the mosque’s Chief Imam, and abducting over 100 women and children,’ he added.

Residents said the insurgents set fire to many houses and structures in the town before leaving the area. The incident forced surviving residents to escape to nearby communities for safety.

Attempts to reach the spokesperson of Operation Hadin Kai, Lt. Colonel Sani Uba, for comment were not successful as of the time this report was filed.

Authorities are yet to release an official statement on the attack.

By Sabiu Abdullahi

Iran’s armed forces have issued a strong warning to Israel over what they described as a possible attack on Tehran’s diplomatic mission in Lebanon.

A military spokesperson said on Wednesday that Iran would respond by targeting Israeli embassies across the globe if such an action takes place.

Abolfazl Shekarchi, spokesperson for the Iranian armed forces, spoke during a live television broadcast. He said, “if Israel commits such a crime, it will force us to make all Israeli embassies around the world our legitimate target.”

His remarks followed a statement by the Israeli military a day earlier. On Tuesday, Avichay Adraee, the Arabic-language spokesperson for the Israeli army, said it “warns representatives of the Iranian regime who are still in Lebanon to leave immediately before being targeted”, and gave them 24 hours to depart.

The exchange comes amid rising hostilities between Iran, the United States, and Israel. Iran has faced joint US-Israeli airstrikes since February 28. Reports indicate that more than 40 senior Iranian government officials have been killed in the bombardment. Among those reported dead is Iran’s Supreme Leader, Ali Khamenei.

The strikes have also affected civilians. More than 1,000 non-combatants have lost their lives, according to reports. The attacks prompted Iran to launch retaliatory measures.

Washington has accused the government led by Khamenei of suppressing its citizens and pursuing nuclear weapons development. Tehran has denied the claims and rejected the allegations.

The situation has continued to heighten tensions across the region, with both sides exchanging threats as the conflict deepens.

By Abdullahi Mukhtar Algasgaini

President Bola Tinubu has ordered an immediate suspension of the new cashless payment system at airport toll gates nationwide, citing widespread chaos that has caused numerous passengers to miss their flights.

The decision was announced on Wednesday by the Minister of Aviation and Aerospace Development, Festus Keyamo, following the Federal Executive Council meeting at the State House, Abuja.

Keyamo stated that the President intervened out of concern for the welfare of citizens, who have faced hours-long delays due to severe gridlock at the access roads to major airports.

“Mr. President was very concerned about the welfare of Nigerians and the fact that most Nigerians were losing their flights,” Keyamo told reporters. “So Mr. President, out of empathy, directed today that we suspend the present system because it creates a lot of gridlock, and Nigerians are suffering as a result of it.”

The cashless policy, implemented less than a week ago by the Federal Airports Authority of Nigeria (FAAN), was designed to eliminate corruption and optimize revenue collection after more than 50 years of cash transactions. It required motorists to use prepaid cards or electronic payments at toll gates.

However, the transition was plagued by bottlenecks, leading to massive traffic congestion—particularly at the Lagos and Abuja airport toll gates. Videos on social media showed queues stretching for kilometres, forcing travellers to depart for the airport hours earlier than usual.

While reaffirming the government’s commitment to a cashless system, Keyamo clarified that the President’s directive prioritises public convenience over the immediate elimination of cash.

“The major reason why Mr. President took this decision is to eliminate the present gridlock… not that the President is happy with the cash system,” the minister explained.

In the interim, a hybrid system will be implemented, allowing for both cash payments and the use of FAAN cards already purchased by motorists. The minister revealed that the government will now engage private sector participants to develop a more seamless electronic system that prevents future traffic disruptions.

“Mr. President said if we have to pay commission, we have to pay commission, but we’ll bring in private sector participants to help us devise a much more efficient payment system that will still eliminate cash at the gate,” Keyamo stated.

He added that the President has ordered a swift resolution and has directed the ministry to report back to him on the progress of a new, more efficient system.

By Uzair Adam

Former Kaduna State governor, Nasir El-Rufai, has explained his decision to remain silent during interrogation by the Independent Corrupt Practices Commission (ICPC), describing the investigation as politically motivated.

In written statements made under caution on February 19 and 20, 2026, while in ICPC custody and in the presence of his lawyer, Ubong E. Akpan, El-Rufai said his refusal to answer questions was deliberate and based on legal advice.

He maintained that he was exercising his constitutional right to silence and would only address any allegations before a competent court of law.

The former governor stated that after nearly two years of investigation, the anti-graft agency should present its findings before a judicial authority rather than seek further explanations from him.

He argued that only a judge could determine whether the probe amounted to political persecution.

El-Rufai, who served as governor of Kaduna State from 2015 to 2023, also outlined his educational and professional background in his initial statement, noting his studies at Ahmadu Bello University, as well as at Harvard University and the University of London.

He recounted his career in public service, including his roles as Director-General of the Bureau of Public Enterprises and Minister of the Federal Capital Territory.

The ICPC had secured a 14-day remand order from a Chief Magistrate Court in Bwari to detain him, with the order set to expire on March 5, 2026.

Should the agency fail to file charges before then, he may regain his freedom upon the lapse of the court-approved detention.

In a follow-up statement dated February 20, El-Rufai reaffirmed his stance, stressing that he would not respond to additional documents or questions outside the courtroom, again citing his constitutional rights.

The development adds a new dimension to the ongoing standoff between the former governor and the anti-corruption agency, as attention now turns to whether formal charges will be filed before the remand period expires.

By Sabiu Abdullahi

United States Secretary of War Pete Hegseth has alleged that Iran attempted to assassinate President Donald Trump, as he announced the killing of a senior figure linked to the plot.

Hegseth made the remarks during a press briefing at the Pentagon on Wednesday, where he provided updates on the ongoing conflict with Iran. He referred to recent interceptions of drones and rockets by American forces and praised the strength of the US military.

He said: ‘Yesterday, the leader of the unit who attempted to assassinate President Trump was hunted down and killed.

‘Iran tried to kill President Trump, and President Trump got the last laugh.’

The defence chief also vowed retaliation for American personnel killed in the fighting. He stated that the United States would ‘avenge’ the four servicemen and women who died in attacks involving Iranian drones and rockets.

Hegseth stressed that operations are still underway. He said the mission is not ‘accomplished’. He cited a recent naval action in which a US submarine sank an Iranian warship that, according to him, ‘thought it was safe in international waters’.

Hegseth added: ‘This was never meant to be a fair fight, and it’s not a fair fight… they’re going down.

‘More and larger waves are coming; we are just getting started.’

A Defence Department map displayed during the briefing outlined the first 100 hours of what has been named Operation EPIC FURY. The chart detailed a series of strikes across Iranian territory.

Meanwhile, Iranian authorities reported a rising death toll from the conflict. Iran’s Foundation of Martyrs and Veterans Affairs said at least 1,045 people have died so far. The agency explained that the figure reflects bodies identified and prepared for burial.

The fighting entered its fifth day with continued airstrikes by the United States and Israel on Tehran and other cities. Israeli forces targeted members of Iran’s leadership and security services. Iran responded with missile launches and drone attacks aimed at Israel and locations across the region.

Residents in Tehran reported explosions at dawn. State television broadcast images of damaged buildings in central areas of the capital. The city of Qom and several other locations also came under attack.

The Israeli military said one of its F-35 fighter jets shot down a piloted Iranian Air Force YAK-130 aircraft over Tehran on Wednesday.

The conflict has intensified tensions across the Middle East, with both sides signalling that further military action may follow.