Business
Tinubu Promises To Ensure Energy Security And Support Dangote’s Refinery As Fuel Prices Rise

President Bola Ahmed Tinubu has expressed confidence in Nigeria’s potential for achieving energy security while emphasizing the importance of supporting Aliko Dangote’s ambitious 650,000 barrels per day refinery.
During a recent visit by the Implementation Committee on Naira-based sales of crude oil and refined products to the Aso Villa, Tinubu outlined his vision for a sustainable oil and gas sector in Nigeria.
In a statement released by his spokesperson, Bayo Onanuga, the president highlighted the need for solutions that steer clear of the challenges Nigeria has faced in the past four decades.
He stressed that the new Naira-for-crude deal must not revert the country to previous issues experienced during the era of petrol subsidies.
Tinubu stated, “Whatever solution we proffer in crude oil and refined products sales in Naira should not take us back to our experience in the last 40 years.”
His remarks express a commitment to avoiding past mistakes while ensuring that the oil sector operates efficiently and sustainably.
The president acknowledged that while there may be necessary adjustments in costs and revenues within the oil sector, the government will not return to outdated practices.
He emphasized the importance of creating a predictable environment for investment in the energy sector.
“We can have energy security, and the motivation for Alhaji Aliko Dangote will not be defeated,” he asserted, pointing out that a stable environment is essential for the long-term success of investments in the country’s energy landscape.
Market forces, according to Tinubu, must play a central role in determining the dynamics of the oil and gas sector. He stated,
“The market must determine what we are doing. Once you allow the market to determine the profit and loss, independent marketers and the government can meet on the worksheet.”
In the same forum, Aliko Dangote shared his concerns regarding the performance of his refinery, which began supplying petrol on September 15, 2024. He revealed that the facility is currently operating at a loss, primarily due to petrol retailers overlooking the availability of over 500 million litres of fuel produced by the refinery.
The Nigerian government initiated the Naira-for-crude deal with Dangote Refinery on October 1, 2024, aiming to create a more stable and efficient market for crude oil sales.
However, despite this initiative, many Nigerians continue to struggle with high fuel prices, which have soared to over N1,030 per litre across NNPCL retail outlets.
Business
Skype Finally Shuts Down After 22 Years of Connecting People Online

Skype, once a go-to platform for video and voice calls, is officially shutting down today, May 5, marking the end of its 22-year journey connecting people around the globe. The app was one of the first to revolutionize online communication, offering free calls over the internet long before it became common.
During its prime in the mid-2010s, Skype boasted over 300 million active users each month. Microsoft bought Skype in 2011 for a massive $8.5 billion, planning to make it a key part of its communication tools. However, as newer apps like WhatsApp, Zoom, and even Microsoft’s own Teams grew in popularity, Skype slowly lost its place.
In February, Microsoft announced it would officially shut down Skype on May 5 to focus more on Teams, which now handles most of its communication services. This move affects both free and paid users, although Skype for Business will stick around for a little longer.
Business
United Bank Of Africa, UBA, Delivers 23% Total Dividend for 2024, CEO Promises More to Come

United Bank of Africa, UBA, pays 171 Billion in total to its shareholders for the 79 percent increase for 2024.
This information was revealed during the 63rd Annual General held on the 25th of April, 2025. The UBA shareholders approved of the 3 naira dividend share, which will com bine with 2 naira interim dividend and will represent a 23 percent total dividend for 2024 in total.
It can be noted that UBA now has the highest Nigerian stocks and the CEO, Oliver Alawuba has assured the shareholders of the dividends that will be paid.”What we can assure our shareholders today is that UBA will continue to pay more dividends.”
Business
Nigerians Cry Out as CBEX Investment Platform Collapses, EFCC Steps In To Investigate

It has been reported that Economic and Financial Crimes Commission (EFCC), prepares to look into the recent crash of the popular investment platform, CBEX.
It can be recalled that investment platform, CBEX, recently crashed and caused worry for many users. The public to social media to lament about the crash of the platform and cries out due to their losses.
Popular Nigerian blogger, Innocent Tino shares that he will partner with EFCC for a joint investigation of the downfall of CBEX. It was also shared that a total of #1.3 trillion funds have been lost due to the crash.
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