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Naira Down To N1,540 In Parallel Market

The Naira fell to N1,540 per dollar in the parallel market yesterday, down from N1,525 per dollar on Tuesday.

But the Naira appreciated to N1,502.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate fell to N1,502.5 per dollar from N1,506.5 per dollar yesterday, indicating N6.5 appreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate expanded to N37.5 per dollar from N18.5 per dollar on Tuesday.

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Elon Musk Temporarily Dethroned As World’s Richest Man

US tech billionaire Larry Ellison yesterday dethroned Elon Musk as the world’s richest person.
However, Musk seemed to have recovered to take his position on Thursday morning.
This comes as Ellison’s wealth surged after shares in the company, Oracle, which he co-founded and in which he owns a stake of 41%, rocketed in early trading on Wednesday, September 10.
Oracle shares rose by more than 40% in early trading to $340 a share, valuing the business software company at $958bn (£707bn) and Ellison’s stake at $393bn, just ahead of Musk’s fortune of $384bn, according to Bloomberg’s billionaires index.
The jump in the shares is the company’s largest single-day increase ever and the biggest ever one-day wealth increase on the Bloomberg index.
Ellison also has other sources of wealth, including a stake in electric carmaker Tesla, where Musk is chief executive, a sailing team, the Indian Wells Open tennis tournament, and an island in Hawaii, according to Bloomberg.
Musk has a close relationship with Ellison – who is often described as a mentor to the South Africa-born tech entrepreneur.
Ellison sat on the board of Tesla between 2018 and 2022 and put $1bn into Musk’s purchase of Twitter – since rebranded as X.
According to Walter Isaacson’s biography of Musk, when the Tesla CEO asked Ellison to invest in Twitter, Ellison said he would put in a billion dollars or “whatever you recommend”.
Musk is a frequent visitor to Ellison’s Hawaiian island, Lanai, according to the book.
Ellison is also a supporter of Donald Trump and has regularly appeared alongside the US president at the White House, including the launch of the Stargate project to invest $500bn in artificial intelligence infrastructure in the US. Musk, a prominent backer of Trump’s 2024 election campaign, also had a strong relationship with Trump before it imploded earlier this year.
Oracle accounts for the majority of Ellison’s wealth and its value has been boosted by demand from AI companies for its cloud services, which provide computing capacity for firms such as ChatGPT developer OpenAI, who need vast datacentres to power their technology.
Musk, the chief executive of Tesla who also owns the SpaceX rocket company, became the world’s richest person for the first time in 2021, according to Bloomberg, before relinquishing it to Bezos and French luxury goods tycoon Bernard Arnault.
He regained it last year but, just over 300 days later, he was dislodged again by 81-year-old Ellison.
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Nigerian Doctors Begin 5-Day Nationwide Warning Strike

Nigerian doctors under th aegis, National Association of Resident Doctors have embarked on a nationwide strike.
The doctors declared a five-day warning strike starting from Friday, 12th September 2025, to press home their demands.
This was confirmed in a statement on Thursday by the General Secretary, Association of Resident Doctors, Federal Capital Territory Administration, Agbor Affiong.
The decision of the strike was reached after the NARD online National Executive Council meeting on Wednesday, which extended to the early hours of Thursday, 11th September 2025.
“Arising from the NARD E-NEC meeting held on Wednesday, the 10th of September, 2025, which extended into the early hours of Thursday, the 11th of September, 2025, the NEC members unanimously resolved to embark on a five-day warning strike.
 
“The strike will commence at 8:00 a.m. on Friday, 12th September 2025, and will end on Tuesday, 16th September 2025.
 
“All centres are hereby directed to duly inform their hospital managements and continue to press home our collective demands,” the statement reads.
Earlier, NARD President, Osundara Zenith, told DAILY POST on Tuesday that its members planned to shut down the country’s public hospitals to demand action over poor working conditions, shortage of power, downgrading of certificates, poor remuneration, and other reasons.
626Blaze recalls that FCT ARD are currently on a seven-day warning strike which started on Monday this week.
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National Grid Collapses — First Time In 2025

The national power grid suffered a collapse on Wednesday.

Data obtained from the independent system operator (ISO) showed that the megawatt (MW) generated dropped from 2,917.83 (MW) to 1.5 (MW) between 11 am and 12 pm.

In a post on Twitter, Abuja Electricity Distribution Company (AEDC) confirmed the loss of power from the national grid.

“Please be informed that the power outage currently being experienced is due to a loss of supply from the national grid at 11:23 am today, affecting electricity supply across our franchise areas,” the company said.

“Rest assured, we are working closely with the relevant shareholders to ensure power is restored once the grid is stabilized. Thank you for your patience and understanding.”

On February 12, some parts of Nigeria were without electricity after the national grid experienced a system collapse, confirmed by electricity distribution companies.

On the same day, the Transmission Company of Nigeria (TCN) denied reports claiming that the national grid collapsed twice in 2025.

Similarly, in January, the commission denied reports of a national grid collapse.

On July 4, the Nigerian Electricity Regulatory Commission (NERC) said there was no grid collapse in the first quarter (Q1) of 2025.

However, the commission said it continues to propel the system operator (SO) to improve its system coordination activities.

Nigeria’s national grid suffered many collapses in the past year, leading to nationwide blackouts.

In 2024, the national grid collapsed 11 times.

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Apple Launches iPhone 17 Pro

Apple has announced the launch of the highly anticipated iPhone 17 Pro.
Apple announced the launch on Tuesday, September 9, 2025 at its annual event in Cupertino, California.
The iPhone 17 Pro, launching at a starting price of $1,099, will be offered in three distinctive color options which include, Deep Blue, Cosmic Orange, and Silver.
The phone’s features include a 48MP Fusion ultra-wide camera, telephoto camera, and Fusion main camera.
Recall that the iPhone 16 was launched on September 20, 2024, at Apple’s ‘It’s Glowtime’ event in California.
The series included the iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max.
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PDP Condemns Moves to Block Senator Natasha’s Resumption at National Assembly

The Peoples Democratic Party (PDP) has slammed the Godswill Akpabio-led Senate over moves to stop Senator Natasha Akpoti-Uduaghan from resuming at the Senate after what it called an unjust six months’ suspension imposed on her by the Senate leadership.
Recall that the Senate clerk had sent a letter to the suspended senator saying she cannot resume after the completion of her six-months suspension since the matter is in court and until the legal process is completed, she cannot resume  for her legislative activities in the red chamber.
In a statement signed by its national publicity secretary, Debo Ologunagba, the party said the reported action by the clerk smacked of a ‘calculated attempt being orchestrated by the Senator Godswill Akpabio-led All Progressives Congress (APC) Senate leadership to breach the right of representation of the people of Kogi Central Senatorial District and deny them a voice at the highest law-making body in the country.’
PDP in its statement said the attempt to use the National Assembly establishment against an elected Senator in gross violation of the provisions of the Constitution and Standing Rules of the Senate is highly provocative and constitutes a clear and present danger to democracy and overall stability of our country.
“It also comes as parts of the antics being deployed severally by the APC-controlled Senate and the Federal Government to suffocate the opposition which further confirms the creeping totalitarianism in our country under the APC government,” Ologungaba said in a statement.
He said the reported action by the Clerk of the National Assembly against Senator Akpoti-Uduaghan further brings to the fore the allegations of attacks on the right of women and sustained attempts to stifle their voices as witnessed in the various accusations of harassment against women levelled against the current Senate President, Senator Godswill Akpabio over the years.
“The PDP demands that the Senate President should come clean on the various allegations instead of seeking to use the National Assembly establishment to further harass, intimidate and keep Senator Akpoti-Uduaghan away from the Senate.
 
The extreme persecution of six months suspension unjustly imposed on Senator Akpoti-Uduaghan, contrary to the Rules of the Senate is more than enough and the PDP stands with the people of Kogi Central and all well-meaning Nigerians in condemning this unwarranted renewed attack on Senator Akpoti-Uduaghan.
 
Our Party strongly cautions the Clerk of the National Assembly to withdraw the said letter and play by the rules by being neutral as a bureaucrat and not allow himself to be politically entangled and used as a tool to undermine democracy and the Rule of Law in the National Assembly and Nigeria.Nigerian fashion
 
The PDP calls on the International Community, Democracy Institutions, Right Advocacy Groups and other democracy development partners to rise up in condemnation of this renewed attack on Senator Akpoti-Uduaghan.
 
While charging Senator Akpoti-Uduaghan to discountenance the reported letter by the Clerk of the National Assembly and get ready to resume at the Senate, the PDP demands that the Senate leadership ensures that Senator Akpoti-Uduaghan is allowed to resume her duties and perform her roles as an elected Senator of the Federal Republic of Nigeria unhindered,” PDP said
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Nigerian Doctors To Decide On Nationwide Strike Today

The Nigerian Association of Resident Doctors (NARD) will today (Wednesday) convene its National Executive Council meeting to decide on the next steps regarding its pending ultimatum to the Federal Government.

The association had earlier issued a 10-day ultimatum to relevant government agencies, warning that members would embark on a nationwide strike if their demands were not met.

The threat comes amid mounting pressure on Nigeria’s fragile public health system, which is already grappling with a shortage of doctors, poor infrastructure, and overcrowded hospitals.

Resident doctors, who constitute the majority of the medical workforce in teaching and specialist hospitals, have repeatedly gone on strike in recent years over unpaid wages, poor welfare, and inadequate working conditions.

Experts warn that another shutdown could cripple healthcare delivery, forcing patients to seek expensive private care and worsening health outcomes nationwide.

In a communiqué issued on September 1, 2025, and signed by NARD President, Dr. Tope Osundara; General Secretary, Dr. Oluwasola Odunbaku; and Publicity and Social Secretary, Dr. Omoha Amobi, the doctors demanded 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.

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

Speaking with The PUNCH on Tuesday, Dr. Osundara said the outcome of today’s NEC meeting would determine the association’s next step.

“We are holding our NEC meeting tomorrow (today), and the outcome will determine our next line of action. At the meeting, we will review whether the government has made any meaningful progress on addressing our demands. If there is a positive response, it will guide our decision, but if not, the council will take a firm stance on the next steps, including the possibility of industrial action,”
he said.

NARD First Vice-President, Dr. Tajudeen Abdulrauf, also confirmed that the NEC would reconvene today to assess the situation.

“The outcome of the meeting will depend on the government’s response to our demands. If they are not addressed, we cannot guarantee industrial harmony, and a strike remains likely. Remember, we gave a three-week ultimatum in July and extended it. In the spirit of dialogue, the NEC mandated the National Officers’ Committee to engage stakeholders for another three weeks, yet nothing has been done. When we meet tomorrow, we will review the government’s response and decide on the next line of action,”
Abdulrauf said.

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NUPENG Calls Off Strike After Meeting With Dangote Group

NUPENG has announced the suspension of its nationwide strike against the Dangote Group.
Recall that NUPENG had threatened to embark on strike after the Dangote Group allegedly refused to allow its workers join NUPENG.
The strike was called off following a meeting convened by the Department of State Services (DSS), attended by the Ministers of Labour and Finance, Dangote Group officials, and representatives from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Both parties reached an agreement, bringing an end to the brief nationwide industrial action.
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No Immediate Plan to Implement 5% Fuel Tax – Nigerian Govt

The Federal Government has said it is not planning to implement the 5 per cent Petroleum Products Tax soon.
Recall that the tax is contained in the new tax legislation.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known at a press briefing in Abuja on Tuesday.
This is coming after the tax generated widespread anger among Nigerians, with organised labour issuing the government an ultimatum to cancel it or face industrial action.
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ADC Has Over 100 Senators, About 400 Reps – Dino Melaye

Dino Melaye, a former Kogi West Senator has vowed that the African Democratic Congress, ADC will unseat President Bola Tinubu in 2027.
This is as he claimed the ADC now has more senators and House of Representatives members.
Melaye disclosed that the ADC now has over 100 Senators, both former and serving, and about 400 members of the House of Representatives, both serving and former.
In an interview on Arise Television’s Prime Time, Melaye said the ADC is fast becoming a political force with the party witnessing more former state governors.
The Kogi State-born politician vowed that the ADC will unseat the President Bola Tinubu’s All Progressives Congress, APC, in 2027.
 
“As I speak, we have over 100 Senators, both former and serving, who are members of the ADC.
 
“We have close to 400 members of the House of Representatives, former and serving, who are members of the ADC,” he said.