NNPC Reports N136 Billion Profit as Gas Production Surges

By

-

April 12, 2026

Figures cited by **Premium Times** show that the Nigerian National Petroleum Company Limited (NNPC) recorded a significant profit of N136 billion in February 2026, largely driven by a sharp increase in domestic and export gas production. The surge is attributed to the commissioning of new gas turbine plants and improved pipeline surveillance, which reduced the frequency of infrastructure vandalism in the Niger Delta.

The state-owned oil firm noted that the shift toward gas as a “transition fuel” is starting to pay off, providing much-needed liquidity for the company’s capital projects. Despite this profit, NNPC continues to face scrutiny over the retail price of petrol and the ongoing delays in bringing all local refineries to full operational capacity.

**ThisDay** reported that “the profit boost is a sign of stabilizing operations,” while **The Guardian** noted that “stakeholders are calling for more transparency in how these profits are reinvested into the midstream sector.”

Echotitbits take: NNPC is finally behaving like a commercial entity. However, as long as fuel prices remain high and local refineries aren’t fully satisfying domestic demand, the public will view these profit figures with a healthy dose of skepticism.

Source: Premium Times – https://www.premiumtimesng.com/news/top-news/870965-nnpc-posts-n136bn-profit-as-gas-production-rises-in-february.html, April 12, 2026

Photo credit: Premium Times

Inline1

Abia State Set for Luxury Boost with 250-Room Five-Star Hotel

By

Bob Echols’s

-

April 12, 2026

0

In an update published by **The Guardian**, Governor Alex Otti of Abia State has announced plans to construct a 250-room five-star hotel in the state capital, Umuahia. The project is intended to position the state as a hub for business tourism and to provide high-end accommodation for investors who have been increasingly drawn to the state’s recent industrial reforms.

The Governor stated that the project will be a Public-Private Partnership (PPP), ensuring that state funds are leveraged effectively without compromising other social services. The hotel is expected to include a world-class convention center, which Otti hopes will host international trade summits within the next two years.

**Vanguard** noted that “the project is a key pillar of Otti’s urban renewal agenda,” while **Tribune** reported that “local residents are optimistic about the jobs the construction phase will generate.”

Echotitbits take: Alex Otti continues his streak of “private-sector style” governance. Umuahia has long lacked high-end infrastructure, and this project could finally make the state capital a credible venue for the “Aba-to-the-world” business crowd.

Source: The Punch – https://punchng.com/otti-to-build-250-room-five-star-hotel-in-umuahia/, April 12, 2026

Photo credit: The Punch

Inline1

Identity Crisis: Nigeria to Deactivate Passports of Citizens Denouncing Status

By

Bob Echols’s

-

April 12, 2026

0

In an update published by **BusinessDay**, the Federal Government has announced a new policy to immediately withdraw and deactivate the Nigerian passports of individuals who formally renounce their citizenship. The move is aimed at tightening the national identity database and ensuring that the privileges associated with Nigerian travel documents are reserved strictly for those who maintain their legal status as citizens.

The Ministry of Interior clarified that the deactivation will be synchronized with the National Identity Management Commission (NIMC) to ensure that such individuals cannot access biometric-dependent services within the country. This policy comes as the government seeks to streamline the “Japa” phenomenon’s administrative impact and better track the diaspora’s legal standing.

**The Punch** reported that the government is “tightening the screws on dual-citizenship technicalities,” while **Leadership** noted that “officials believe this will curb identity fraud among those holding multiple nationalities.”

Echotitbits take: This is a bold, perhaps controversial, administrative move. It effectively shuts the door on “identity hedging” by Nigerians moving abroad, forcing a clear choice between the green passport and foreign naturalization.

Source: Premium Times – https://www.premiumtimesng.com/news/top-news/870908-updated-nigeria-to-cancel-passports-of-citizens-who-renounce-nationality.html, April 12, 2026

Photo credit: Premium Times

Inline1

Terrorist Financiers Unmasked: FG Names 48 Individuals and 12 Entities

By

Bob Echols’s

-

April 12, 2026

0

According to **The Nation**, the Federal Government has released a comprehensive and updated list of 48 individuals and 12 organizations allegedly responsible for financing terrorism across Nigeria. This list includes known associates of insurgent groups and several shell companies used to launder funds into the hands of bandits in the North-West and North-Central regions.

The Attorney General’s office stated that the assets of those named have been marked for immediate freezing, and a nationwide manhunt is underway for several suspects currently at large. This development follows a period of heightened insecurity and pressure from the international community for Nigeria to track the “money trail” behind the decade-long insurgency.

**The Punch** highlighted that “Nigerians are demanding visible action and swift prosecution,” while **Channels TV** reported that “security experts see this as a critical step in de-escalating the conflict in Zamfara and Kebbi.”

Echotitbits take: Naming and shaming is a good first step, but the real victory lies in successful prosecutions. If the government fails to secure convictions for these 48 individuals, the list will be viewed as a mere political tool rather than a security breakthrough.

Source: The Cable – https://www.thecable.ng/breaking-fg-releases-list-of-48-individuals-groups-linked-to-terrorism-financing/, April 12, 2026

Photo credit: The Cable

Inline1

SERAP Demands Investigation into Missing ₦2.9 Billion from Satellite and Nuclear Agencies

By

Bob Echols’s

-

April 12, 2026

0

Reporting by **Daily Post** indicates that the Socio-Economic Rights and Accountability Project (SERAP) has formally petitioned President Bola Tinubu to probe the alleged disappearance of ₦2.9 billion from the Nigerian Communications Satellite Ltd (NIGCOMSAT) and the Nigerian Nuclear Regulatory Authority (NNRA). The missing funds, which were highlighted in the latest Auditor-General’s report, involve unauthorized investments and unaccounted-for allocations within these high-tech federal agencies.

SERAP’s deputy director, Kolawole Oluwadare, emphasized that accountability in these specific institutions is vital because of their roles in Nigeria’s digital economy and national safety. The group is also demanding that the government reveal the beneficial owners of the private company that allegedly received ₦465 million in “unauthorized investments” from NIGCOMSAT.

**Vanguard** noted that “mismanagement in these agencies threatens national development,” while **The Guardian** quoted the petition stating, “these allegations represent a grave violation of the public trust and a fundamental breach of anti-corruption laws.”

Echotitbits take: This probe puts Minister Bosun Tijani’s ministry under the spotlight. With Nigeria pushing for a digital-first economy, the integrity of NIGCOMSAT is paramount; any perception of “missing billions” could spook international tech partners and investors.

Source: The Punch – https://punchng.com/serap-urges-tinubu-to-probe-missing-%E2%82%A62-9bn-in-nigcomsat-nnra/, April 12, 2026

Photo credit: The Punch

Inline1

Federal Government Slashes Import Duties on Vehicles and Essential Goods

By

Bob Echols’s

-

April 12, 2026

0

Figures cited by **Premium Times** show that the Federal Government has officially commenced the implementation of the 2026 Fiscal Policy Measures, which include significant tariff reductions on imported cars and 127 other essential items. The policy, signed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, introduces Supplementary Protection Measures designed to align Nigeria with the ECOWAS Common External Tariff while providing immediate relief to the transport and manufacturing sectors.

The new fiscal framework also introduces a “Green Tax Surcharge” and adjusts excise duties on alcoholic beverages, cigarettes, and tobacco products. To ensure a smooth transition and prevent market shocks, the government has granted a 90-day grace period for importers with existing trade agreements initiated before the April 1 start date to clear their goods under the previous, lower-duty regimes if applicable.

**The Nation** highlighted that the move is part of a broader strategy to “promote and stimulate growth in critical sectors of the economy,” while **Daily Trust** reported that “the reduction in vehicle duties is expected to lower the high cost of transportation currently burdening citizens.”

Echotitbits take: This is a calculated move to curb the inflationary pressure on logistics and transport. While the tariff cuts on cars are a populist win, the “Green Tax” indicates that the government is simultaneously looking for new revenue streams to offset the losses from import duty reductions.

Source: Premium Times – https://www.premiumtimesng.com/business/business-news/870931-fg-approves-2026-fiscal-policy-measures-cuts-tariffs-on-cars-others.html, April 12, 2026

Photo credit: Premium Times

Inline1

Wizkid Joins Justin Bieber for Surprise “Essence” Performance at Coachella

By

Bob Echols’s

-

April 12, 2026

0

In a report by the LA Times, Coachella attendees were treated to a massive surprise during Justin Bieber’s headlining set when he brought out Wizkid and Tems to perform their global anthem, “Essence.” The performance was a highlight of Night 2, with the three artists delivering a soulful, stripped-back rendition that Bieber described as a “beautiful” moment of connection.

The surprise appearance came during a set that Bieber used to experiment with “white-soul” arrangements of his own hits, but the inclusion of Wizkid signaled a continued reverence for the track that dominated 2021. This unexpected reunion on one of the world’s biggest stages quickly went viral across TikTok and X (formerly Twitter), with fans celebrating the longevity of the “Song of the Summer.”

Rolling Stone verified the guest spot, quoting Bieber as saying, “Tonight has been beautiful, especially sharing the stage with legends like Wizkid.” Additionally, Billboard noted the cultural impact, stating, “The return of the ‘Essence’ trio to the Coachella stage was the weekend’s most talked-about viral moment.”

**Echotitbits take:** While Wizkid has been relatively quiet on the solo release front lately, this surprise appearance keeps him firmly in the global conversation. It signals that his relationship with Western A-listers remains strong and suggests he might be gearing up for a new project rollout. The chemistry between him and Bieber still hits, making us wonder if a new “Essence”-level collab is in the works.

Source: LA Times — https://www.latimes.com/entertainment-arts/music/story/2026-04-12/coachella-justin-bieber-review April 12, 2026

Photo Credit: LA Times

Inline1

Burna Boy Sparks Controversy After Admitting to Altercation with DJ Tunez

By

Bob Echols’s

-

April 12, 2026

0

A post shared by TVC News reveals that Burna Boy has publicly addressed a recent physical altercation involving DJ Tunez and members of his entourage. Speaking during an Instagram Live session with fellow artist Shallipopi, the “City Boys” singer admitted to “slapping” the DJ, while clarifying that his crew was not involved in the confrontation and that he acted entirely on his own.

The incident has sparked a heated debate within the Nigerian music industry about artist-DJ relations and Burna Boy’s frequent run-ins with controversy. Despite the gravity of the claim, Burna Boy appeared nonchalant during the live stream, dismissing the narrative that his camp is responsible for the aggression he is often accused of.

Premium Times followed up on the story, quoting an industry insider who said, “This level of public admission is rare and could lead to legal or professional fallout for the artist.” Notjustok also weighed in, stating, “Fans are divided over Burna’s ‘slap’ comment, with many calling for a more professional approach to conflict resolution.”

**Echotitbits take:** Burna Boy’s “Outsider” persona is part of his brand, but admitting to physical violence on IG Live is a risky move, even for him. While it likely won’t hurt his core fanbase, it could complicate his relationship with major brands and festival organizers who prioritize “safe” public images. We’ll be watching to see if DJ Tunez or Starboy Entertainment pursues any formal response.

Source: The Punch — https://punchng.com/dj-tunez-clash-opens-another-chapter-in-burna-boys-violent-history/ April 9, 2026

Photo Credit: The Punch

Inline1

Toyin Abraham Defends Cultural Values Amidst Ongoing Feud with Funke Akindele

By

Bob Echols’s

-

April 12, 2026

0

According to The Nation Online, Nollywood powerhouse Toyin Abraham has spoken out to defend her adherence to traditional Yoruba values, specifically the act of kneeling to greet elders. This public statement comes amidst a brewing rift with fellow actress Funke Akindele, which intensified after Abraham reportedly unfollowed Akindele following a perceived snub at a recent movie premiere.

Abraham insisted that her upbringing, which emphasizes deference through physical gestures, remains central to her identity and is not an act of “eye-service” or pretense. The tension between the two “Queens of the Box Office” has captivated Nollywood fans, as both actresses continue to dominate the domestic film market with record-breaking projects.

Vanguard News confirmed the friction, stating, “The silent war between Toyin and Funke has become more visible as fans take sides in the cultural debate.” Pulse Nigeria also reported, quoting Abraham: “I was raised to kneel when greeting those older than me; it is a value I will continue to uphold with pride.”

**Echotitbits take:** This is more than just a greeting; it’s a battle for the soul of Nollywood’s “top spot.” By framing the rift around cultural values, Toyin is appealing to a traditionalist fanbase. This “cold war” usually precedes a massive box-office showdown, so watch for both actresses to announce competing projects for the upcoming holiday season.

Source: The Nation Online — https://thenationonlineng.net/toyin-abraham-defends-kneeling-to-greet-elders-rejects-abosi-tag/ Leadership April 11, 2026

Photo Credit: The Eagle Online

Inline1

NBA Regular Season Reaches Fever Pitch as Playoff Seedings Loom

By

Bob Echols’s

-

April 12, 2026

0

According to the **Associated Press**, the NBA is bracing for a chaotic final day of the regular season, with several key playoff positions still undecided in both the Eastern and Western Conferences. Legends like LeBron James and rising stars like Victor Wembanyama are under the spotlight as teams scramble to avoid the play-in tournament and secure home-court advantage.

The intensity is palpable as the league transitions into its most competitive phase. **ClickOnDetroit** reports that “the final day will determine the fate of several franchises,” while **KARE-TV** confirmed that the Brooklyn Nets have officially clinched the top odds for the upcoming NBA Draft Lottery, quoting an analyst who said, “The focus in Brooklyn has now shifted entirely to the future and the ping-pong balls.”

**Echotitbits take:** This is the most stressful time for NBA fans and executives alike. While the top seeds are relatively safe, the mid-table “logjam” in the West means one bad night could end a season for a high-profile team. Expect high-minute games for superstars who would usually be resting, as nobody wants to risk the unpredictability of the Play-In.

Source: StreamLineFeed — https://streamlinefeed.co.ke/news/nba-season-finale-seeding-chaos-and-title-stakes April 11, 2026

Photo Credit: NBA

Inline1