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BIG STORY

Bitcoin Soars Past $100,000 Amid Trump’s Pro-Crypto Revolution

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Bitcoin has shattered the $100,000 milestone, riding a wave of investor confidence sparked by U.S. president-elect Donald Trump’s pro-crypto pivot.

The world’s largest cryptocurrency surged as high as $103,800 on Thursday, marking a 50 percent rise since Trump’s November election win.

The rally intensified after Trump nominated crypto advocate, Paul Atkins, to lead the Securities and Exchange Commission (SEC), signaling a shift toward a more favorable regulatory environment.

Atkins’ appointment, along with Trump’s pledge to make the U.S. “the bitcoin superpower of the world,” has electrified the market.

“Bitcoin reaching $100k is an incredible milestone for our movement,” said Kris Marszalek, CEO of Crypto.com. “We never doubted. We never wavered. And we will never stop building.”

Trump’s crypto-friendly administration has also tapped Howard Lutnick for the Commerce Department and Elon Musk to co-lead the “Department of Government Efficiency,” humorously dubbed “DOGE” after the popular cryptocurrency Dogecoin, which has soared 150 percent since election day.

According to Financial Times on Thursday, this surge marks a stark contrast to the sector’s downturn two years ago, when the collapse of FTX and regulatory crackdowns sent Bitcoin plummeting to $16,000.

Now, institutional money is flowing in, with BlackRock’s Bitcoin ETF alone managing $45 billion in assets.

Cameron Winklevoss, co-founder of Gemini, summed up the sentiment: “This bitcoin bull run is different. We have a pro-tech president-elect, a red Senate, a red House, and a mandate from the country to build.”

With $4.4 billion pouring into crypto ETFs since November, and companies like MicroStrategy planning to raise $42 billion for further Bitcoin investments, analysts predict a “golden era” for digital assets under the incoming administration.

Earlier reports had it that Bitcoin smashed through the $80,000 milestone, reaching an all-time high of $81,858 amid post-election optimism in the US, as pro-crypto policies appear more likely under Trump.

Barely three days after, the world’s largest cryptocurrency reached a record high above $90,000.

Meanwhile, a check (by Punch Online) as at 5.33am on Coin Market Cap placed the coin at $102,724.32 with over 7 percent increase in the last 24 hours.

Notably, Trump’s previous administration leaned heavily towards scepticism regarding digital currencies, but the president-elect has since embraced crypto, pledging to make the US the “crypto capital of the planet.”

CNBC noted that Trump had promised to retain “100 percent of all the Bitcoin the US government currently holds or acquires in the future” and to dismiss SEC Chair Gary Gensler, whose tenure saw over 100 regulatory actions against crypto firms.

BIG STORY

Dangote Names N739 As New Petrol Pump Price

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Barring any last-minute change, MRS and other partners of the Dangote Petroleum Refinery are set to begin selling petrol at N739 per litre.

This comes two days after the refinery slashed its petrol gantry price from N828 to N699 per litre. Speaking at a press briefing at the Lekki refinery on Sunday, the President of the Dangote Group, Alhaji Aliko Dangote, said he was aware that despite lower gantry prices, some filling stations often choose to keep pump prices high, thereby sabotaging his efforts.

According to him, MRS would commence the sale of petrol at N739 per litre from Tuesday, while other partners would follow. Dangote alleged that some officials had met with certain marketers and encouraged them to keep prices high in order to frustrate the price reduction, stressing that he would fight to enforce the new price regime.

“I was told that the marketers have met with (some officials) and were told to make sure that the price is maintained high. But this price we are going to introduce, we are going to start with MRS stations most likely on Tuesday in Lagos; that N970 per litre, you won’t see it again. We have also asked members of IPMAN to come now.

We have asked anybody who can buy 10 trucks to come and buy 10 trucks at N699.

“We are going to use whatever resources that we have to make sure that we crash the price down. We will get these sales; maybe it will take us a week to 10 days. But first of all, within a week to 10 days, we will be able to deliver. For this December and January, we don’t want people to sell petrol for more than N740 nationwide. Those who want to keep the price to sabotage the government, we will fight as much as we can to make sure that these prices are down. That’s not the price. If you have money to come and buy, you can pick up petrol at N699,” he said.

Dangote said transporting petrol from the refinery costs no more than N15 per litre, questioning why pump prices would rise as high as N900 per litre. He also accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority of issuing 47 import licences to bring in more than seven billion litres of petrol in the first quarter of 2026, a move he said was killing local investments.

“Freight within Lagos is N10 or N15, maximum. So if it’s N10 to N15, everything is going to cost you N715. Why do you want to sell at N900? People should get the real price. I cannot come now and take the hit. Did we make money? No, we didn’t make money. But as we speak now, even our tanks are full because the NMDPRA has issued reckless licences. And we have to now go and complain to the government.

“They normally issue licences in the middle of the month. So, they are now ready to issue licences for about 7.5 billion litres for the first quarter of 2026, despite the fact that we have guaranteed to supply enough quantity.

“If you are talking about monopoly, did we stop anybody? They issued 47 licences. Let those people come and put up a refinery here, or let them go and buy even NNPC’s and operate them. If it’s profitable, they should go and do that now. NNPC was the only business that was bringing in fuel before.

“Now, we are the only one and one of the few modular refineries that are producing. Those modular refineries, I can tell you for nothing that they are almost on the verge of collapse. None of them is making a dime,” he added.

The billionaire businessman assured Nigerians that the N739 per litre price would be enforced, beginning with MRS stations on Tuesday. “Starting from Tuesday, MRS will start selling petrol at N739/litre. Definitely, we will enforce that low price. We will make sure that it’s implemented. If you have your truck, you can come here and buy it. We are selling at N699. The N699 includes the percentage of NMDPRA. So what actually comes out to us is about N389 or so,” he stated.

Contacted for his reaction, the NMDPRA spokesman, George Ene-Ita, said, “For now, no comment.”

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BIG STORY

#BON 2025: Obasa, Elegushi Endow Award Categories, As Addme, Indomie, Abundish Join Award Sponsors

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All roads lead to the Wole Soyinka Centre for Culture and Creative Arts, formerly known as the National Arts Theatre, this Sunday, December 14, for the highly anticipated 17th edition of the Best of Nollywood (BON) Awards.

The event is set to be hosted by the dynamic duo of Bukunmi ‘KieKie’ Adeaga-Ilori and Adams Ibrahim Adebola (popularly known as VJ Adams), with the Executive Governor of Lagos State, His Excellency Babajide Sanwo-Olu, serving as the official Host Governor.

The ceremony promises to be a spectacular celebration of cinematic excellence. This year’s awards are not only a recognition of Nollywood’s best creative and technical talents but also a showcase of significant corporate and private support for the industry, highlighted by the endowment of key award categories.

These endowments underline a strategic partnership between the film industry and various high-profile entities and personalities.

The BON Awards proudly recognizes the commitment of several partners to fostering excellence in filmmaking. Among the esteemed endowers is the Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, who has generously endowed the coveted Best Indigenous Movie (Yoruba) category, emphasising the importance of local cultural narratives.

Further bolstering the awards, the prominent Lagos monarch, Oba Saheed Elegushi, has endowed the most prestigious prize of the night, the Best Movie category, highlighting his commitment to the overall success and quality of Nigerian cinema.

Corporate sponsors are also showing strong support, with Addme championing acting talent by endowing the Best Actress of the Year category, while Indomie shows its support for emerging talent through the Best Child Actor award.

Abundish highlights the creative technical aspects of filmmaking by endowing the Best Use of Food in a Movie category.

The founder of BON Awards, Seun Oloketuyi, noted that these endorsements provide crucial resources and prestige to the categories, ensuring the continued celebration of authentic storytelling and technical innovation within the industry.

“The support from Rt. Hon. Obasa for the Best Indigenous Movie award emphasizes the importance of preserving and promoting our rich cultural narratives through film,” said Oloketuyi.

“Likewise, the commitments from Addme, Indomie, Abundish, and the generous support of Oba Elegushi underscore the value placed on acting prowess and the creative technical elements that bring our stories to life.”

As the biggest names in Nollywood gather in Lagos, all eyes will be on the Wole Soyinka Centre for Culture and Creative Arts for what is set to be one of the most memorable nights in Nigerian cinema.

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BIG STORY

‘Excessive’ Security For Seyi Tinubu: How It Is Understood —–Folorunsho Tahir Hamsat

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The appropriateness or otherwise of security protection for a president’s family can be a subject of public debate. This debate is centred on the complex challenge of ensuring the safety of people connected to the presidency while being mindful of public accountability and the effective use of government resources.

This writer will focus solely on the provision of security for the president’s family, as understood, in layman’s terms. Recently, at a public function, President Tinubu’s son, Seyi,’s excessive security escort was criticized by Nobel laureate, Professor Wole Soyinka. The respected leader had argued that such resources were needed elsewhere.

From my study, it is standard international practice for a country’s president’s immediate family, including the children, to receive significant security protection. This is due to the high profile of the president and the potential national security risks that could arise from threats and various forms of harm to the president’s family members.

Nigeria is currently confronted by multiple security challenges like kidnapping and banditry, with the primary threat coming from the Islamic State of West Africa (ISWA) and Boko Haram. On that score, threatening or harming a president’s son, daughter, or wife could be used to blackmail the president and compromise his ability to perform state duties, thereby creating a national crisis. Thus, the goal of ‘excessively’ protecting the president’s family is to ensure the stability and continuity of the president’s function and, by extension, the nation, by mitigating high-level threats to the First Family.

I am not familiar with the local laws on the protection of private individuals, but, based on my research, in developed countries whose model of democracy Nigeria especially practices, such as the US, the provision of security by agencies like the DSS to the president’s immediate family is a federal law, not a discretionary choice.

The president’s family members often attend public schools or travel, requiring extensive, pre-planned security measures and an advance team to ensure their safety in such environments. Even the US law specifies that children of former presidents receive protection until they are 16 years old, unless declined.

In other climes, a sitting president can issue an executive order to extend protection to members of his family, including individuals not automatically covered by law. I will support this argument with two empirical evidence. Just before departing the White House, finally in January 2025, after the expiration of his constitutional two terms as president of the United States, Joe Biden extended protection for his adult children through the next seven months via an executive order.

That presidential order was critiqued by his successor, Donald Trump, and subsequently revoked by him. However, Trump himself did the same for his four adult children and two of their spouses before his first term ended in 2021, when they were given six months of additional protection beyond their stay in the government house. Thus, my interpretation of this subject is that, if it’s not unusual for a president before he leaves office to authorize an extended period of protection for their immediate family members, giving them full-time protection while holding the power is justified and not inappropriate.

 

-Tahir Hamsat is a Lagos-based journalist. He can be reached via 08051000485

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