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BREAKING: Pastor Taiwo Odukoya, Senior Pastor of Fountain of Life Church, Is Dead

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The Senior Pastor of Fountain of Life Church, Pastor Taiwo Odukoya, is dead.

His demise was confirmed via the officially Facebook page of the church.

He was said to have died on Monday, August 7, in the United States of America (USA).

His first wife, Pastor Bimbo Odukoya, was among the passengers who boarded the ill-fated Sosoliso Airlines Flight 1145 going to Port Harcourt from Abuja in 2005.

The plane was involved in a crash while landing at Port Harcourt International Airport on December 10th. Although the female cleric survived the initial impact, she died from injuries on December 11, 2005.

He later married another woman, who died in November 2021 after battling with cancer.

May his soul rest in peace.

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.

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UBA Heralds Festive Season, Lights Up Lagos Marina Garden [PHOTOS]

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United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Monday, held its annual Garden Light-Up ceremony to kick-start the festive season.

The dazzling ceremony, held at the United Bank for Africa (UBA) head office in Lagos, brought together staff, customers, and well-wishers in a heart-warming display of joy, gratitude, and unity.

The Garden Light-Up, an annual tradition, represents UBA and its Foundation’s commitment to spreading cheer and fostering a sense of community during this special time of year. With festive decorations, brilliant lights, fireworks and lively music, the event serves as a beacon of hope and celebration, setting the tone for the season of giving.

Speaking at the event, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, emphasised the bank’s dedication towards creating memorable experiences and its appreciation for the efforts of staff and customers throughout the year.

He reiterated that the annual Lighting ceremony is a symbol of hope for the coming year, the future and all the goodness it will bring into people’s lives.

He said, “As we approach Christmas, a time of love, we remember the spirit of giving and community. I would like to express gratitude to each and every one of you. We are happy and grateful for all your sacrifices and contributions, especially during what has been a difficult year.

“I am particularly grateful to the board of UBA, led by our own Chairman, Tony Elumelu. I would also like to thank the entire executive management team – including Our ED/CEOs from America, and all our management team. We appreciate the work they have done so far.

Alawuba explained that as the bank celebrates seventy-five years, it will continue to build a heritage that will last. “This ceremony is a reflection of our belief in the importance of family, unity, and giving back to the communities we serve. Together, we have achieved remarkable milestones, and we look forward to an even brighter future, I therefore encourage each of you: when you go home, touch your neighbour’s life. By spreading kindness and light,” he stated.

The lighting ceremony was well-attended by UBA staff members and customers who were entertained with Christmas carols by the UBA Customer Fulfilment Centre’s choir. It ended with a guided tour around the UBA Foundation gardens on the Lagos Marina and fireworks.

Over the years, the UBA Foundation has been very active in creating sustainable development in its host communities and as part of its corporate social responsibility, the Foundation will be feeding tens of thousands of people across Africa during this festive season.

UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special projects.

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Fuel Imports Hit 2.3bn Litres Despite Local Production

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Despite the commencement of petrol production by two major refineries in Nigeria in the last three months, oil marketers have continued to import and distribute the product nationwide.

According to The Punch, marketers imported “2.3 billion litres” of petrol between September 11 and December 5, 2024.

The continued importation of petrol is contrary to a public announcement by some groups of marketers who earlier stated their intention to halt petrol imports and focus on domestic supply.

The local refineries are the 650,000 barrel per day capacity Dangote Petroleum Refinery located in Lagos and the 210,000bpd capacity Port Harcourt Refining Company in Rivers State. PHRC currently produces from its old plant with a capacity of 60,000bpd.

The Dangote refinery began selling petrol in September, while the Area 5 facility of the Port Harcourt refinery started operations last Tuesday.

Despite this, recent findings (by The Punch) revealed that in the past three days alone, a total of 52,000 metric tonnes of petrol were brought into the country.

About “1322.76 litres” of petrol weighs one metric tonne. This implies that 68.74 million litres of imported fuel was brought in by dealers in three days.

For decades, Nigeria depended on the import of petroleum products to meet local demands. The situation remained even after the commencement of production by the Dangote refinery in September because of its price and insufficient output. During this period, the Nigerian National Petroleum Company Limited was the sole off-taker from the refinery.

But after intense discussions, the Federal Government, in a statement from the finance ministry on October 11, 2024, announced that oil marketers were now free to negotiate the purchase of petrol directly from the Dangote refinery without recourse to NNPC.

This allowed for direct negotiations. Already the Independent Petroleum Marketers Association of Nigeria has signed an agreement with the refinery for product offtake, with negotiations ongoing with the Petroleum Products Retail Outlets Owners Association of Nigeria.

Amid these, oil marketers promised to stop fuel imports and focus solely on domestic supply.

Last week, the PETROAN National President, Billy Gillis-Harry, told our correspondent that its members would temporarily suspend the importation of petrol for the next 180 days due to the coming onstream of the Dangote and Port Harcourt refineries and production ramp-up plans by the refineries.

Similarly, major petroleum marketers announced a suspension of petrol imports following a significant boost in local supply from the Dangote Refinery, which has ramped up its operations.

The association, at a webinar last week, said its members have sourced a total of “148 million litres” of petrol from the Dangote refinery over the past 10 weeks, contributing to a major shift in the country’s fuel supply dynamics.

IPMAN is yet to secure an import licence.

But fresh findings, utilising documents obtained from the Nigerian Port Authority, on Wednesday, showed that marketers have continued fuel imports.

The products were conveyed in three vessels and berthed at the Apapa Port in Lagos State, Tin Can Port in Lagos State, and the Calabar Port in Cross Rivers.

An analysis of the document showed that on Tuesday, December 3, 2024, a ship named Binta Saleh carrying “12,000MT” (“15.864 million litres”) of petrol berthed at the Apapa port at 8:12 am. The vessel had Blue Seas Maritime as its agent and was handled at the Bulk Oil Plant terminal.

On Wednesday, December 4, 2024, another vessel named Shamal brought in “20,000mt” (“26.44 million litres”) of petrol through the Tin Can port at midnight. The ship was handled by the Peak Shipping Agency at Terminal KLT Phase 3a.

Similarly, another vessel named Watson will bring in “20,000MT” (“26.44 million litres”) of refined fuel today (Thursday) by 4:52 pm at the Calabar port. The agent, Kach Maritime, will handle the vessel at the Ecomarine Terminal.

This development indicates that the recent conversation organised by the NNPCL Group Chief Executive Officer, Mele Kyari, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority to eliminate the importation of petrol into the country may have ended in limbo.

The meeting attended by representatives of the Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, and key stakeholders from companies such as 11 Plc, Matrix, and AA Rano, was in growing confidence of Dangote Refinery’s ability to meet the nation’s domestic fuel demand and the need to cut fuel imports.

One of the major marketers who attended the meeting confirmed to our correspondents that the discussion was still ongoing on the plan.

In the month of September, precisely on September 18, three major oil marketers brought in 141 million litres following the full deregulation of the downstream oil sector by the Federal Government.

The marketer stated that each vessel would bring in about “35,000 metric tonnes” of PMS, making a total of “105,000 metric tonnes” (“141 million litres”).

Between October 1 and November 11, 2024, more than two billion litres of petrol were imported by the Nigerian National Petroleum Company Limited and other marketers.

Documents obtained showed that NNPC and its partners imported “1.5 million metric tonnes” of PMS, “414,018.764 metric tonnes” of diesel, and “13,500 metric tonnes” of jet fuel. This is worth about “N3tn” or “$1.8bn.”

In October, NNPCL and its partners imported a total of “994,446.438 metric tonnes” of PMS, with Lagos receiving “555,121.617 metric tonnes,” Warri “281,100 metric tonnes,” Port Harcourt “94,224.821 metric tonnes,” and Calabar “64,000 metric tonnes.”

A total of “285,518.764 metric tonnes” of diesel was also imported, with Lagos receiving “162,500 metric tonnes,” Warri “58,500 metric tonnes,” Port Harcourt “56,018.764 metric tonnes,” and Calabar “8,500 metric tonnes.”

Between November 1 and November 11, a further “358,083 metric tonnes” of PMS, “112,500 metric tonnes” of diesel, and “13,500 metric tonnes” of aviation fuel were discharged at Nigerian ports.

Also, between November 23 and November 28, “78,800 metric tonnes” representing “105.67m litres” of petrol were discharged at the nation’s sea borders for onward distribution.

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