News
Tension Eases as Trump Declares “Complete and Total” Israel-Iran Ceasefire
After nearly two weeks of rising clashes between Israel and Iran, former U.S. President Donald Trump has announced what he called a “complete and total” ceasefire between both countries. He made the declaration on Monday evening, saying the agreement would officially take effect within 24 hours. This announcement follows a chaotic period that saw the U.S. launching heavy airstrikes on Iranian nuclear sites, while Iran fired missiles at Al Udeid Air Base in Qatar, a location used by U.S. forces.
While Trump shows his confidence in the ceasefire deal, things on the ground suggest otherwise. Iranian officials quickly denied agreeing to any formal truce. Their foreign ministry did hint, however, that they might reduce military action; but only if Israel also holds back.
Israel, on the other hand, claimed they picked up fresh missile launches from Iranian territory shortly after the ceasefire was announced. In response, Israel reportedly prepared new airstrikes, though Iran denied any fresh attacks from their side.
International observers say the situation remains very fragile. There’s still no clear written agreement detailing how both sides will back down, especially concerning Iran’s nuclear activities, which was the cause of the dispute.
The news of the ceasefire brought quick reactions from the global economy. Oil prices dropped sharply, sliding more than 3% as traders relaxed over possible disruptions in the Middle East, especially around the vital Strait of Hormuz, a key route for global oil supplies. Stock markets also rallied. U.S. futures climbed nearly 1%, while Gulf country’s financial markets bounced back by up to 3%. European and Asian stocks posted gains as well, as investors bet on lower risks in the region. Meanwhile, gold prices and U.S. treasury yields dropped, and the dollar weakened, signaling that traders are betting central banks
TV anchor Rufai Oseni makes headlines as he speaks on fuel subsidy in Nigeria. He shared that Nigeria can have fuel subsidy without the long queues at filling stations.
“When we were still paying subsidies, there were no long queues. We were subsidising. So you can still have a subsidy regime going on, and there will be no long queues because production was close by. Dangote had it. That’s just it. That argument also falls flat.
“The biggest beneficiaries of subsidy are not Nigerians. They are crony capitalists that have big infrastructure, and they do contracts. They have been the biggest beneficiaries of the subsidy,” he said.
Lagos State Governor, Sanwo-Olu, speaks to those in the electricity sector about the usual blackouts in the state.
He speaks on ways things can change in the state and how electricity can be provided.
“We need to drop corporate egos, abandon long-standing excuses, and confront the harsh realities obstructing progress in the power sector.”
“We, state governments, used to give excuses that everything is centralised, so the Federal Government has unbundled it now. What have we done in a year and a half?” Sanwo-Olu asked.
“We take two steps forward, we go five steps backward,” he said.
Lagos State Governor Babajide Sanwo-Olu has declared Thursday, August 20, a work-free day for public servants in the state to mark the Isese Festival.
Speaking on the celebration, he said “Ìṣẹ̀ṣe is not a relic. It is a living expression of our traditions and a celebration of Yoruba spirituality as an important part of Nigeria’s cultural and religious landscape,” he said.
He added “When the drums sound in Lagos on Thursday, they answer drums in Havana, in Salvador, in Port of Spain. Fifty-five million people and counting. Lagos is not observing a local holiday. Lagos is standing at the centre of a global heritage,” Aregbe said.
“Fighting for Nigerians Is Tiring” — VeryDarkMan Recalls Burna Boy’s Words
Enzo Fernández Moves Closer to Manchester City Transfer
