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Elon Musk Purchases $1 billion in Tesla Shares to Boost Stock

In a bid to boost Tesla stock, CEO Elon Musk has purchased around $1 billion worth of Tesla shares.
Following the purchase, Tesla stock rose by six percent on Monday, September 15.
A filing with the US Securities and Exchange Commission showed that Musk, who also owns social media platform X and space company SpaceX, acquired 2.57 million shares on Friday at prices between $371 and $396 each.
The investment comes in the same month Tesla outlined a proposed compensation package for Musk that could exceed $1 trillion if he delivers on ambitious growth targets driven by new technologies. Tesla chair Robyn Denholm has been actively defending the plan in recent business media appearances, describing Musk as “a generational leader” uniquely capable of steering the company in the years ahead.
The package would give Musk up to 12 percent more of Tesla’s total shares if the company hits a market capitalization of at least $8.5 trillion by 2035. A shareholder vote on the proposal is scheduled for November.
The plan also comes as Tesla challenges a Delaware court ruling that voided Musk’s previous 2018 pay deal worth $55.8 billion.
Tesla’s market capitalization currently stands at just over $1 trillion, below earlier highs following weaker-than-expected earnings. Analysts have linked the dip in performance partly to Musk’s political stances and alignment with far-right figures, which have drawn backlash and slowed sales in some key markets.
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Obtain Licence Before Teaching – FG to Teachers

The Federal Ministry of Education has released a new policy mandating all teachers in the country to registered with the Teachers Registration Council of Nigeria (TRCN) and the National Teachers’ Institute (NTI).
According to FG, all teachers must obtain a licence from TRCN before teaching as part of efforts to raise teaching standards and improve education outcomes nationwide.
The Ministry stated this in a statement released on Sunday via its official X handle.
Under the new framework, NTI will focus on in-service training and community-based professional development programmes, while TRCN will handle the regulation and licensing of teachers across Nigeria.
Education Minister Dr. Maruf Alausa unveiled fresh guidelines for both agencies, covering teacher registration, professional development, compliance monitoring, welfare, and curriculum standards.
 
“No teacher will stand before a Nigerian classroom without TRCN registration and licensing. This guarantees competent and professional teaching for every child,” Alausa said. “This reform is about results and sustainability. Nigerian children will be taught by the best, prepared for the best, and supported by the best. It is Renewed Hope in action.”
The minister had earlier directed secondary schools to ensure that their teachers are properly certified, warning that uncertified schools will lose accreditation to serve as examination centres.
Starting in 2027, accreditation for both public and private schools to host public examinations — including WASSCE, NABTEB, NECO, and NBIAS — will be strictly tied to teachers’ TRCN certification.
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Tinubu Will Finish His 8 Years Before Power Will Return to the North – Governor Umar Bago

Governor Umar Bago of Niger State has slammed those agitating for a northern presidency.
This is as he declared that political power will return to the northern region after President Bola Tinubu completes a second term in office.
Speaking on a TVC program, Bago criticised those already agitating for a northern presidency just two years into Tinubu’s tenure, warning that such demands were premature.
 
“For crying out loud, this man has just spent two years in office and you want it to come back to the north. How?” the governor asked.“When he finishes his eight years, power will come to the north and northerners who want to contest can then contest.”
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IMF, World Bank Forced Nigeria to Remove Subsidy – Falana

Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has made an allegation against the World Bank and the International Monetary Fund (IMF).
He accused IMF and the World Bank of compelling Nigeria to remove petrol subsidies
Speaking on Channels Television’s Sunday Politics, Falana argued that the removal was not a locally designed policy but an externally imposed condition.
 
“There’s no way you can remove subsidies completely; no country in the entire world has abolished subsidies completely,” he said. “Even leading Western countries like the United States, the United Kingdom, France and others subsidise electricity, agriculture and many aspects of people’s lives. It was the World Bank and the IMF that insisted the government must remove all subsidies.”
President Bola Tinubu announced the end of petrol subsidies on May 29, 2023, during his inauguration. Shortly after, the Central Bank of Nigeria unified the foreign exchange market.
Falana said the two policies have worsened inflation, driven up living costs, and deepened economic hardship for millions of Nigerians.
He also criticised the government’s plan to introduce a new five percent fuel surcharge, insisting that funds already owed to the Federal Roads Maintenance Agency (FERMA) must first be remitted.
Falana explained that section 14 of the FERMA Act 2007 established a five percent user charge on fuel sales, with 40 percent allocated to federal roads and 60 percent to state roads. He alleged that the funds were never implemented.
 
“Between 2007 and 2011, FERMA confirmed that no funds were remitted despite deductions from petrol prices at source,” he said. “By 2022, even the Senate confirmed that over one trillion naira was owed to FERMA. Before introducing new levies, the government must tell Nigerians what happened to the earlier deductions.”
He warned that imposing the new surcharge could amount to multiple taxation and further burden already struggling citizens.
Falana also urged an end to the “dollarisation” of the economy, noting that rejecting the naira for local transactions is a criminal offence.
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Tinubu Approves Appointment Of Five New Permanent Secretaries

President Bola Tinubu has given approval for commencement of the process of appointing five new permanent secretaries.
This is according to the Office of the Head of the Civil Service of the Federation.
According to the Head of Service, Didi Walson-Jack, the vacancies include two arising from the recent retirement of permanent secretaries from Imo State and the Federal Capital Territory, and three zonal slots for the North-Central, North-East and South-East, created after the establishment of new ministries.
In a statement released by the Director of Information and Public Relations in the OHCSF, Eno Olotu, noted that the recruitment process was structured to guarantee transparency, credibility and merit in line with the government’s commitment to good governance.
Walson-Jack explained that only directors on Grade Level 17 who had spent at least two years on the grade, and who had been cleared by their permanent secretaries as not facing disciplinary action, were eligible to apply.
She added that the exercise began with the compilation and screening of eligible officers by a Committee of Permanent Secretaries, monitored by the Independent Corrupt Practices and Other Related Offences Commission and the Department of State Services.
“Candidates also completed asset declaration forms with the Code of Conduct Bureau, while clearances from the EFCC, ICPC and DSS are ongoing,” she said.
The HOS disclosed that a written examination for shortlisted officers would be held on September 15, followed by an ICT proficiency test on September 17.
The final stage, an oral interview, is slated for September 19 and will be conducted by a panel comprising serving and retired permanent secretaries, former heads of service, the chairman of the Federal Civil Service Commission and representatives from the private sector.
“Anti-corruption agencies will also observe the process. The final recommendations will be submitted to the President for approval,” Walson-Jack stressed.
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Abuja Doctors Begin Indefinite Strike Over Wike’s Refusal to Meet Demands

The Association of Resident Doctors, Federal Capital Territory Administration (ARD-FCTA), has announced its decision to embark on an indefinite strike action.
The doctors said the decision to embark on strike was reached due to refusal of the FCT Minister, Nyesom Wike, to address their demands.
The strike is to take effect from Monday, 15th September 2025.
In a press conference in Abuja on Monday, Dr. George Ebong said the decision followed a congress by its members on Sunday.
He stressed that the strike is not targeted at the minister or anyone personally but against the failed health sector in the nation’s capital.
“The government is to meet any of our demands financially and non-financially.
 
“The Government of FCTA has refused to listen; the Congress has mandated that until they listen, we will go on strike starting from this morning, Monday, September 15th, 2025.
 
“This is not targeted against the minister or mandate secretary, but against a failed health system.
 
“We call on the Minister of FCT to do the needful.
 
“The Congress voted for an indefinite strike until our demands are met.
 
“Non-payment of 26 of our members after a long dialogue of seven months.
 
“The issue of unemployment has continued to affect the service to our patients. Unexplained deduction of salary and promotion since 2023.
 
“Some of the hospitals do not have X-rays. Hospitals are not favourable for working.”
The indefinite strike comes after the end of a seven-day warning strike by ARD-FCTA.
See full communique:
COMMUNIQUÉ OF THE ASSOCIATION OF RESIDENT DOCTORS, FCTA, ISSUED AFTER
THE EMERGENCY GENERAL MEETING HELD ON 14TH SEPTEMBER 2025
OBSERVATIONS
After reassessing the demands earlier presented to management, Congress noted with deep disappointment that none of our demands have been addressed.
This once again confirms our fears of the chronic neglect of our healthcare system affecting the effectiveness of the medical doctors in order to carry out care of the highest standard.
Following exhaustive deliberations at the close of the 7-day warning strike, Congress made the
Following observations:
1. Continued non-payment of salary arrears (ranging from 1 to 6 months) owed to members
employed since 2023, despite repeated engagements with management.
2. Zero effort towards the recruitment of new doctors, despite the obvious manpower crisis that has subjected our members to unbearable physical, emotional, and psychological strain – resulting in avoidable stress-related deaths. Both doctors’ and patients’ lives remain endangered.
3. Non-payment of the 2025 Medical Residency Training Fund (MRTF), leaving members
indebted while struggling to meet mandatory training obligations.
4. Non-payment of arrears from the 25/35% CONMESS upward review, despite the Federal
The government having commenced payment.
5. Absence of clear and documented timelines for skipping and conversion of members, with
arrears yet unpaid.
6. Persistent and unexplained deductions alongside irregular salary payments, which are
demoralising and insulting to healthcare workers.
7. Delays in promotion exercises since 2023, thereby denying members their rightful career
progression and financial entitlements.
8. Non-payment of the 2025 accoutrement allowance, a paltry N8,000 monthly entitlement that
should not require agitation.
9. Stagnation of newly qualified Fellows who remain denied advancement to the Consultant
cadre, some for over five years, despite repeated engagements with management.
10. Non-payment of wage award arrears, with no communication on when this will be addressed.
11. Non-payment of 13 months Hazard allowance arrears, further proof of deliberate disregard
for the safety and welfare of doctors.
12. The deplorable state of FCTA hospitals, which are now shadows of decay rather than centres of excellence, lacking equipment, consumables, and basic functionality.
RESOLUTIONS
After the most passionate and historic deliberations in ARD-FCTA, Congress unanimously resolved as follows:
1. Congress shall embark on an indefinite strike action commencing at 8:00am, Monday, 15th.
September 2025, until government and management demonstrate genuine commitment to
making health in the FCT a priority.
2. Immediate payment of all outstanding salary arrears to members employed since 2023.
3. Immediate commencement of recruitment of new doctors, with written, time-bound
commitments to conclude before the end of 2025. This is of utmost urgency.
4. Immediate payment of the 2025 MRTF for doctors’ medical training.
5. Immediate stoppage of all erroneous deductions and correction of irregular salary payments
6. Documented timelines for skipping and conversion to be fully concluded within one (1) month.
7. Signing of an MOU mandating skipping of members within three (3) months of employment.
Conversion of post-Part II Fellows to Consultant cadre within six (6) months of passing-
9. Release of promotion timelines and full payment of arrears within one (1)
10. Immediate payment of wage award arrears, as already done for colleagues at federal and state
levels.
11. Immediate payment of arrears from the 25/35 per cent CONMESS review
12. Urgent renovation, equipping, and upgrading of all FCTA hospitals to globally acceptablevstandards.
13. Immediate payment of 13 months’ hazard allowance arrears.
14. Immediate payment of all arrears owed to 2025 external residents.
We do hope that the management will do the urgent needful to meet all of our demands for the sake of our patients and ourselves.
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Dangote Fuel Sells Cheaper in Togo Than in Nigeria – Falana

Human rights activist Femi Falana, SAN has expressed concern over revelations that Dangote fuel is cheaper in Togo than in Nigeria.
Falana stated this while speaking on Sunday while responding to questions in an interview on Politics Today, a programme on Channels Television.
He urged the federal government to review the proposed 5 per cent fuel surcharge and ensure that further hardship is not imposed on Nigerians.
“I guess the government wants to go back to the drawing table and ensure that it is not accused of multiple taxes or double taxation because consumers will pay VAT for buying fuel. They will now put an additional 5 per cent tax.
 
“I think this is what Nigerians are complaining about. And from what we just read today is that the Dangote fuel taken from Nigeria is now cheaper in Togo than in Nigeria I think about 65 naira.
 
“So, the government will have to review these developments (the proposed 5 per cent fuel surcharge) and ensure more hardship is not imposed on Nigerians,” he said.
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INEC Yet To Confirm Our State Chairmen — ADC

The African Democratic Congress (ADC) has denied reports that the Independent National Electoral Commission (INEC) has approved and published a list of the party’s state chairmen across Nigeria’s 36 states and the Federal Capital Territory.

In a statement released on Sunday by the party’s spokesperson, Bolaji Abdullahi, via his official X account, the ADC national leadership clarified that INEC has issued no such confirmation, either officially or unofficially.

The report, in some sections of the media (not PUNCH), listed what they claimed were ADC State Chairmen, as confirmed by INEC.

Abdullahi described the report as “fake news” engineered to create confusion within the party.

He emphasised that the ratification of state leadership is an internal party process governed by its constitution.

Abdullahi explained that INEC will only recognise submissions made through proper channels after due diligence.

He said, “The attention of the national leadership of the African Democratic Congress (ADC) has been drawn to a widely circulated statement titled ‘Coalition Update: INEC Confirms ADC State Chairmen Nationwide,’ which purports that the Independent National Electoral Commission has released and validated a list of State Party Chairmen for the ADC across the country.

“The Independent National Electoral Commission, to the best of our knowledge and verification, has issued no such confirmation, neither officially nor unofficially.

“INEC only recognises what the party submits through the appropriate channels after due process. As of today, no such comprehensive list has been submitted or confirmed by INEC.”

The spokesman reiterated the party’s commitment to internal democracy and discipline, advising stakeholders to remain vigilant against misinformation.

This comes as the party is resolving internal tensions, including a leadership tussle after INEC recently recognised former Senate President David Mark as ADC national chairman.

Recently, the court has summoned Mark and the party’s National Secretary, Rauf Aregbesola, over disputes regarding the party’s leadership changes.

However, ADC has denied claims of a court injunction barring INEC from recognising the Mark-led faction, labelling such reports as additional fake news from “desperate political jobbers.”

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Resident Doctors Suspend Strike After Two Days, Give FG Additional Two-Week Ultimatum

The Nigerian Association of Resident Doctors has called off its five-day warning strike just two days after it commenced.

The association has also given the Federal Government an additional two-week ultimatum to meet its demands.

PUNCH Online earlier reported that the doctors had downed tools on Friday morning but suspended the action on Saturday night, with members directed to resume work today (Sunday).

The President of the association, Dr. Tope Osundara, disclosed this in a WhatsApp message on Saturday.

He said, “Some of our demands have been met. The government has promised to look into other issues. Strike suspended; resumption of work tomorrow (today). We did this as a sign of goodwill and to assist Nigerians who are seeking healthcare in our various facilities.”

The doctors had issued a series of ultimatums before embarking on the strike — a 21-day ultimatum in July, extended by 10 days, which lapsed on September 10, followed by a final 24-hour deadline.

With the suspension of the warning strike, NARD said it is now giving the government an additional two weeks to fulfil its promises.

The doctors had embarked on the strike to press home their demands, which include the immediate payment of the outstanding 2025 Medical Residency Training Fund; settlement of five months’ arrears from the 25–35 per cent Consolidated Medical Salary Structure review; and other long-standing salary backlogs.

They also demanded the payment of the 2024 accoutrement allowance arrears; prompt disbursement of specialist allowances; and restoration of the recognition of the West African postgraduate membership certificates by the Medical and Dental Council of Nigeria.

In addition, they called on the National Postgraduate Medical College of Nigeria to issue membership certificates to all deserving candidates, implement the 2024 Consolidated Medical Salary Structure, resolve outstanding welfare issues in Kaduna State, and address the plight of resident doctors at Ladoke Akintola University of Technology Teaching Hospital, Ogbomoso.

The strike had disrupted services in public hospitals across the country. Consultants and other categories of health workers were left to manage heavy caseloads, leading to overstretched services, while patients faced delays.

Also, in a communiqué issued after an Extraordinary National Executive Council meeting held virtually on Saturday, the association confirmed that the decision followed the Federal Government’s commitment to address some of its concerns, as well as the commencement of payment of the 2025 Medical Residency Training Fund to members who had been previously left out.

The communique signed by Osundara, the association’s General Secretary, Dr. Oluwasola Odunbaku, and the Publicity and Social Secretary, Dr. Omoha Amobi, stated, “After due deliberations, considering the plight of Nigerians who are grappling with health issues under the present harsh economy, the NEC resolved to suspend the strike action effective 8:00 a.m. on Sunday, 14th September, 2025, to allow the Government a two-week window to fully implement the demands contained in our communiqué.”

NARD also called on the Oyo State Government to comply with the 15-day ultimatum issued by the Nigerian Medical Association’s Oyo State branch to address lingering issues affecting doctors at LAUTECH Teaching Hospital, Ogbomoso, warning that failure to do so would compel its members in the state to embark on an indefinite solidarity strike.

The association further urged other state governments to promptly resolve welfare challenges facing resident doctors. In line with the NEC resolution, members in state tertiary hospitals were empowered to continue their industrial action until their respective governments demonstrate a genuine commitment to addressing their concerns.

NARD said it remains committed to working with all levels of government to ensure better healthcare for Nigerians.

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Dangote Petrol N65 Cheaper In Togo — Importers Claim

Several fuel importers in the country have claimed that the Dangote refinery sells a litre of petrol to international traders at N65 less than the price offered to local marketers in Nigeria.

The Depot and Petroleum Product Marketers Association of Nigeria, Petroleum Products Retail Outlet Owners Association of Nigeria confirmed this in separate exclusive interviews with Sunday PUNCH.

While kicking against the planned slashing of prices on Monday, DAPPMAN in particular said it was a ploy to stifle competition.

The Dangote refinery recently announced that it would drop petrol prices from N865 per litre to N841 in Lagos and the South West, and N851 in Abuja, Edo, and Kwara.
This would come alongside the commencement of its direct fuel distribution scheme.

In an interview with our correspondent on Saturday, the DAPPMAN Executive Secretary, Olufemi Adewole, told Sunday PUNCH that members of the group bought Dangote’s petrol from international traders in Lome, Togo, at prices lower than what was offered locally by the refinery.

Adewole said importers had made efforts to buy petrol from the Dangote refinery, but the price was higher, adding that sometimes, it could be better to import the product.

But the Dangote refinery downplayed the allegations, suggesting DAPPMAN might be the force behind the recent attack against it by the Nigerian Union of Petroleum and Natural Gas Workers.

NUPENG had accused the refinery of anti-union practices, including refusing to allow drivers to join the group. The union threatened to embark on industrial action over the matter.

Adewole told Sunday PUNCH that Alhaji Aliko Dangote once said he would crash prices whenever importers brought in fuel cargoes into Nigeria.

“So, anytime our cargoes are coming, we expect him to reduce the price. He may give a different reason for the reduction,” he said.

“Dangote is selling to international traders at N65 lower than what he offers in Nigeria, or how is it possible for some of our members to buy from someone who bought from Dangote?

“Dangote sells to international traders at N65 cheaper than what he is selling to us. In some instances, we were able to buy from those people and still bring it to Nigeria. They will take the product to Lomé, claiming that they are buying large quantities.

“I have collated the volume of the products needed by DAPPMAN and sent to Dangote twice, yet he is not giving us products. What else does he want us to do? Even if he would give it to us, it would be with conditions that would not be profitable. Is that business?” he said.

Asked if it was cheaper to import petrol than to buy from the Dangote refinery, Adewole said, “It’s not all the time that it is cheaper. But there are instances in which it was cheaper to buy from international markets, and not only did we buy from international markets, we bought from international traders that Dangote sold to.”

When our correspondent sought to know what DAPPMAN’s requests were, he emphasised the need for discounts.

“Dangote has to give us a discount for the freight cost and other costs that we incur between his jetty and our jetty so that we can sell at the same price, and then we’ll be competitive. People will continue to import if the price is cheaper elsewhere,” he added.

The National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, said DAPPMAN was right to say Dangote’s fuel was cheaper in Lome than in Nigeria.

“Exactly, DAPPMAN said the correct thing. It is true. We don’t want to be saying everything. But the way things are going, one day we will say everything,” Billy Gillis-Harry said.

Also, a major importer told Sunday PUNCH that his company refused to buy from Dangote because the margin was not favourable.

However, in an interview with Sunday PUNCH, a spokesman for the refinery laughed off the allegations.

He said, “We now know who is behind NUPENG. Our free delivery starts Monday.”

The spokesman wondered when DAPPMAN members started buying petrol from Lomé, asking if they no longer patronised Russia and Malta.

Earlier, the DAPPMAN secretary said portraying Dangote refinery’s repeated fuel price cuts as patriotic gestures overlooked both their timing and effect on the market.

Adewole, in a statement on Saturday, said the price reductions were strategically timed when other importers had active cargoes at sea or in tanks, creating price shocks that undermined competition and imposed financial strain on fellow market participants, including the refinery’s domestic customers.

He said it was concerning that the refinery offered lower prices to international buyers while quoting higher rates to local off-takers.

This, he said, contradicted public-facing claims of prioritising Nigerians and placed unnecessary burdens on domestic businesses already operating under tight margins.

On the crisis between Dangote and NUPENG, the executive secretary said his group had watched the dispute with dismay.

“While the matter may not directly concern our association, we are alarmed by the tone, trajectory, and escalation of this issue. Beyond the reputational risks to various market participants, we are concerned about the potential impact this may have on ordinary Nigerians, particularly in a downstream environment still stabilising post-deregulation,”he added.

Adewole noted that the assertion that Nigeria’s downstream stability rested solely on one refinery was dismissive of the broader ecosystem.

He said, “While we welcome the Dangote refinery as a major infrastructure project, its contribution has peaked at only 30 to 35 per cent of national demand. The balance continues to be supplied by responsible petroleum product marketers, including DAPPMAN members, who import and distribute under strict regulatory oversight by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.”

On Dangote’s direct free fuel distribution scheme, he said the claim was misleading.

“The claim that the refinery offers ‘free delivery’ is also misleading. In reality, marketers are required to lift at least 25 per cent of their allocations directly from the refinery gantry and must do so using only Dangote-owned trucks, paying commercial rates based on their destinations. This arrangement imposes additional logistical and financial burdens on marketers, limits operational flexibility, and undermines the narrative of cost relief being provided to the local market,” he alleged.

While conceding that the Dangote refinery is a valuable contributor, Adewole said it was not a messiah.

The Dangote refinery said it would begin the rollout of compressed natural gas-powered trucks on Monday, as part of its logistics-free distribution programme aimed at significantly reducing fuel prices across the country.

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