Author: Vardiafrica

Elon Musk, chief executive officer (CEO) of Tesla, has become the world’s first trillionaire after the successful initial public offering (IPO) of SpaceX. According to Bloomberg on Friday, Musk’s net worth climbed to $1 trillion on Friday, from $707 billion on Wednesday. Adam Sarhan, chief executive of 50 Park Investments in New York, told the publication that the real test for SpaceX will be how the market digests the IPO over the next several weeks, not just one day. On Thursday, Reuters said SpaceX, an aerospace manufacturer, set a price of $135 per share for its IPO, resulting in a $75 billion…

President Bola Tinubu has issued one of his strongest warnings yet to bandits, kidnappers and sponsors of terrorism, declaring that those who continue to threaten Nigeria’s peace and security will face the full force of the law. In a hard-hitting nationwide Democracy Day broadcast message on Friday aimed at criminal elements across the country, the President said the window for surrender and repentance would not remain open indefinitely. “To bandits, kidnappers, and sponsors of terror: Surrender or face the full force of the Nigerian State,” Tinubu said. “These windows of surrender will not remain open forever. No mercy will be…

The Senate has called on security agencies to intensify surveillance and apprehend bandits and terrorists openly displaying their activities on social media platforms, as lawmakers warned that criminal elements are increasingly using digital spaces to taunt the Nigerian state and glorify violence. The resolution followed the adoption of a motion of urgent national importance sponsored by Sunday Steve Karimi on the escalating wave of terrorist attacks, killings and mass abductions in parts of Kogi State and across the country. The Senate also urged the Federal Government and the Central Bank of Nigeria (CBN) to strengthen cashless policy enforcement to disrupt…

The Senate on Thursday approved a fresh three-month extension of the implementation period for the capital component of the 2025 Appropriation Act, shifting the deadline from June 30, 2026, to September 30, 2026, in a move aimed at salvaging ongoing projects and enabling ministries, departments and agencies (MDAs) to fully utilise funds already released by the Federal Government. The decision, which followed the adoption of a motion sponsored by Senate Chief Whip, Senator Tahir Munguno, marks the third extension granted to the capital component of the 2025 budget. The National Assembly had initially extended the implementation period from December 31,…

The House of Representatives on Thursday passed a constitutional amendment bill to establish state police nationwide. The passage marks a significant step in Nigeria’s long-running debate over decentralising policing and tackling insecurity. The bill, titled “A Bill for an Act to Alter the Constitution of the Federal Republic of Nigeria 1999 to Provide for the Establishment of State Police; and for Related Matters (Sixth Alteration) Bill, 2026,” was approved during consideration at the Committee of the Whole, presided over by Speaker of the House, Tajudeen Abbas. The voting commenced after the Deputy Speaker and Chairman of the House Committee on…

Seriake Dickson, national leader of the Nigeria Democratic Congress (NDC), says the opposition party is doing its candidates a favour by giving them the opportunity to contest elective positions on its platform in the 2027 elections. Speaking on Arise Television’s Prime Time programme on Wednesday, Dickson dismissed suggestions that the NDC should be grateful to Peter Obi, its presidential candidate for the 2027 elections, or any other political figure for joining the party. “Don’t make it look like anyone is doing NDC a favour. No one is,” Dickson said. “Rather, the NDC and I and my colleagues are doing people…

The Senate, on Thursday, moved to protect its institutional integrity and reaffirm adherence to constitutional procedures by nullifying a warrant of arrest purportedly issued by the Senate Public Accounts Committee (SPAC) against a former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Mele Kyari. The motion, sponsored by Senate Leader Opeyemi Bamidele, also formally dissociated the Senate from comments attributed to Senator Adams Oshiomhole, who reportedly described the Nigerian National Petroleum Company Limited (NNPCL) as “a bunch of criminals and thieves” during a Public Accounts Committee hearing earlier on Wednesday. The Senate emphasised that legislative…

The first batch of Nigerians opting to return home following the latest wave of xenophobic violence in South Africa arrived in Lagos on Thursday, with 268 returnees landing at the Murtala Muhammed International Airport aboard an Air Peace flight. The returnees touched down at about 10:30 a.m., marking the beginning of a government-backed repatriation exercise for Nigerians affected by the unrest in South Africa. The evacuation flight was initially scheduled for Monday but was later shifted to Wednesday due to delays in processing travel documentation. Authorities say more than 1,000 Nigerians have indicated interest in returning to the country. Speaking…

The Niger Delta Development Commission, NDDC, has assured that the pace of work on the 3.75-kilometre Okrika-Borikiri Road, with three bridges linking Okrika and Port Harcourt Local Government Areas of Rivers State, will increase following the payment of compensation to property Speaking during an inspection of the bridge in Okrika, the NDDC Assistant Director, Utilities, Infrastructural Development and Waterways, UIDW, Engr. Martins Isichei, stated that the issue of compensation for property owners at the Borikiri end of the bridge had been settled. He noted: “The NDDC has paid compensation to property owners along the Borikiri alignment, and we are expecting the…

Amid rising tension in the House of Representatives, over the position of minority leader, the House, on Wednesday,  adopted a resolution barring  first time members from occupying principal officers position. The resolution effectively stalled the nomination of the member representing Ideato North/Ideato South Federal Constituency, Ikeagwuonu Ugochinyere, from emerging as the minority leader. Ugochinyere was nominated, last Wednesday by 61 members out of 81 of the opposition caucus, as minority leader, to replace Kingsley Chinda, who resigned from the position, the day before, in line with extant rules of the House. Order 7 Rule 9 of the House Standing Rules,…