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Dangote, Adenuga, Otedola, Rabiu Make 2026 Forbes Africa Billionaires List

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Dangote, Adenuga, Otedola, Rabiu Make 2026 Forbes Africa Billionaires List

Four Nigerians — Aliko Dangote, Mike Adenuga, Femi Otedola, and Abdul Samad Rabiu — have been named among Africa’s richest individuals in the 2026 Africa Billionaires ranking released by Forbes.

Dangote Remains Africa’s Richest Man

Dangote retained his position as the wealthiest person in Africa with an estimated net worth of $28.5 billion.

According to Forbes, he added about $4.6 billion to his fortune over the past year, largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.

Other Nigerian Billionaires On The List

Telecommunications mogul Adenuga also retained his place among the continent’s billionaires. He is the founder of Globacom and chairman of Conoil Producing, with business interests spanning telecoms, oil and gas, and banking.

Energy investor Otedola, chairman of Geregu Power Plc, also made the list despite a slight dip in his wealth. Forbes estimates that he lost about $200 million after selling a majority stake in the company at a price below its market value.

Meanwhile, Rabiu’s wealth increased significantly due to the strong performance of BUA Cement, whose shares surged 135% over the past year, outperforming the broader rally in the Nigerian stock market.

African Billionaires’ Wealth Grows

Forbes reported that the 23 billionaires on the continent now have a combined net worth of $126.7 billion, representing a 21% increase from 2025 after collectively adding $20.3 billion to their fortunes.

The rise in billionaire wealth across Africa was largely driven by strong stock market performance, record corporate profits, and improved currency stability in several economies.

Countries With The Most Billionaires

By country, South Africa leads with seven billionaires, followed by Egypt with five, Nigeria with four, and Morocco with three.

However, the 2026 ranking revealed that no female African billionaires appeared on the list this year.

Dangote Refinery Raises Petrol Price To ₦1,175/Litre, Diesel To ₦1,620/Litre

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Dangote Refinery Raises Petrol Price To ₦1,175/Litre, Diesel To ₦1,620/Litre

Nigeria’s largest refining facility, the Dangote Petroleum Refinery, has increased its ex-depot price for Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre, while Automotive Gas Oil (AGO), also known as diesel, now sells at ₦1,620 per litre.

The latest adjustment marks the fourth price review in less than two weeks, according to industry platform Petroleumprice.ng, which cited sources within the downstream petroleum sector.

Industry insiders said the revised pricing template has already been communicated to marketers, following several earlier adjustments made by the refinery this month.

Sharp Price Increase

Under the new structure, the petrol price rose significantly from ₦995 per litre, while diesel climbed from ₦1,430 per litre, reflecting a sharp upward trend in domestic fuel prices.

Analysts say the development could trigger wider increases across Nigeria’s downstream market as depot operators and fuel marketers adjust supply costs in response to the refinery’s pricing.

The refinery had yet to issue an official statement confirming the latest adjustment as of the time of filing this report.

Global Oil Prices Surge

The price revision coincides with a sharp surge in international crude oil benchmarks amid escalating tensions in the Middle East.

As of 1:00 pm WAT, Brent Crude traded at $102.8 per barrel, up 10.91 per cent, while West Texas Intermediate rose to $101.0 per barrel, gaining 11.08 per cent.

Global oil markets have been rattled by supply fears linked to the ongoing US-Israel war with Iran, which has entered its second week.

Supply Disruptions

Oil prices surged nearly 30 per cent on Monday as concerns grew over potential supply disruptions from the Middle East.

Reports indicated that attacks on oilfields occurred in southern Iraq and in the northern autonomous Kurdistan region, forcing a US-operated oil facility to halt production. Meanwhile, the United Arab Emirates and Kuwait have begun reducing oil output.

Shipping activity through the Strait of Hormuz—a key global energy corridor that carries about one-fifth of the world’s crude oil and gas—has also been suspended since the conflict began on February 28.

The disruption has heightened fears of a prolonged supply shock in the global oil market.

Commenting on the price surge, Donald Trump said at the weekend that the spike was a “small price to pay” to eliminate Iran’s nuclear threat, insisting the increase in global energy prices would be temporary.

Rivers Assembly Screens Commissioner Nominees, Confirms Five, Rejects Four

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Rivers Assembly Screens Commissioner Nominees, Confirms Five, Rejects Four

The Rivers State House of Assembly on Monday screened nine commissioner nominees submitted by Governor Siminalayi Fubara, confirming five and rejecting four after hours of deliberations in Port Harcourt.

During the screening exercise, the nominees appeared before lawmakers one after the other to defend their credentials and respond to questions on governance, experience, and compliance with statutory requirements.

Questions Over Documents

Among the first nominees to appear was Professor Datonye Alasia, a medical doctor and professor of medicine. Lawmakers raised concerns over discrepancies in his birth certificate and the absence of a tax clearance certificate.

Responding, Alasia explained that the alteration on the birth certificate might have occurred at the point of issuance and apologised for failing to attach the tax clearance document.

“As a nephrologist, I have trained many consultants and doctors in the university. That is part of my contribution to Rivers State,” he told lawmakers.

Despite the explanation, a motion moved by lawmaker Peter Abbey led to the rejection of his nomination.

Nominees Confirmed

Some nominees, however, secured approval after satisfying lawmakers with their responses.

Those confirmed include Tonye Bellgam, who holds a master’s degree in Project Management and has extensive experience in the oil and gas sector.

Also confirmed was Professor Temple Nwofor from Igwuruta in Ikwerre Local Government Area. He assured the Assembly that he would not execute projects outside the state budget if appointed.

“I don’t think I will involve myself in any project that is not contained in the budget,” he said.

Lawmakers also confirmed Dr Peters Nwagor, a mathematician and Associate Dean at Ignatius Ajuru University of Education, after he outlined his academic and administrative experience.

Other nominees confirmed were chartered accountant Lekue Kenneth, who is involved in the Lagos-Calabar Coastal Highway project, and private sector executive Amairigha Edward Hart.

Tense Screening Session

The session became tense during the appearance of Charity Deemua, a former member of the Rivers State House of Assembly Service Commission.

Lawmakers questioned discrepancies in her birth records and the absence of tax clearance documents. When asked about her professional experience, she replied: “I’m a politician, I don’t have work.”

Her response drew criticism from the Speaker, who asked whether politicians were exempt from paying taxes. Her nomination was subsequently rejected.

Also rejected were Tamuno Williams, a lawyer and former local government chairman from Okrika, and Otonye Amachree, whose nomination faced opposition over petitions and a previous legal dispute involving a Kalabari regency matter.

Assembly To Notify Governor

At the end of the exercise, the Assembly confirmed five nominees — Bellgam, Nwofor, Nwagor, Kenneth, and Hart — while rejecting Alasia, Deemua, Williams, and Amachree.

The Speaker said the House would formally communicate its decision to Governor Fubara.

“We will write to His Excellency to swear in the five confirmed nominees as soon as possible,” he said.

Appeal Court Affirms Judgment Barring INEC From Validating PDP Convention

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Appeal Court Affirms Judgment Barring INEC From Validating PDP Convention

The Court of Appeal in Abuja has upheld an earlier ruling restraining the Independent National Electoral Commission (INEC) from recognising the outcome of a disputed national convention planned by the Peoples Democratic Party (PDP) in Ibadan, Oyo State.

In a unanimous decision delivered on Monday, a three-member panel of the appellate court dismissed the appeal filed by the PDP against the October 31, 2025 judgment of the Federal High Court.

The lower court, presided over by Justice James Omotosho, had restrained INEC from accepting or acting on the report of the PDP’s national convention scheduled for November 15 and 16 in Ibadan.

Appeal Lacks Merit

The appellate court resolved all four issues raised for determination against the PDP, ruling that the appeal lacked merit.

It also rejected the party’s argument that the Federal High Court lacked jurisdiction because the matter concerned internal party affairs.

According to the court, the plaintiffs had the legal standing (locus standi) to institute the case in defence of their democratic rights. It further held that the PDP was not denied fair hearing, contrary to claims made in its appeal.

The court subsequently awarded N2 million in costs against the PDP faction linked to former minister Kabiru Tanimu Turaki, describing the appeal as frivolous.

Party Leaders Present In Court

Several PDP leaders from opposing factions were present when the judgment was delivered.

Those seen in court included Turaki and another group led by Abdulrahman Mohammed.

Also present was the party’s National Secretary Samuel Anyanwu, who was observed exchanging pleasantries with Turaki.

Background To The Case

The case originated from a suit filed by three aggrieved PDP members who sought to halt the planned convention, arguing that it violated the party’s constitution and established procedures.

Delivering the earlier ruling in October 2025, Justice Omotosho held that INEC could not validate the outcome of any party convention conducted in violation of the Electoral Act, the party’s constitution, or applicable guidelines and regulations.

The suit listed nine defendants, including INEC, the PDP, its National Working Committee (NWC), National Executive Committee (NEC), and several party officials.

The appellate court is expected to continue hearing other pending appeals and rulings relating to the PDP leadership dispute.

Anthony Placid Replaces Benjamin Hundeyin As Force Spokesman

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Anthony Placid Replaces Benjamin Hundeyin As Force Spokesman

The Nigeria Police Force has appointed Deputy Commissioner of Police Anthony Okon Placid as the new Force Public Relations Officer (FPRO), replacing Benjamin Hundeyin.

The announcement was made on Sunday in a statement by the outgoing spokesman, who said the appointment was approved by the Inspector-General of Police Olatunji Rilwan Disu.

“The Inspector-General of Police has approved the appointment of DCP Anthony Okon Placid, psc(+), mni as the new Force Public Relations Officer,” Hundeyin said.

The leadership change comes weeks after Disu assumed office as Nigeria’s police chief and initiated a series of administrative adjustments within the police hierarchy.

Experienced Officer

Placid is described by the police as a seasoned officer with extensive experience in administration, intelligence, operations, training, and international peacekeeping.

Born on December 2, 1970, in Uyo, he hails from Mbiokporo Nsit in Nsit Ibom Local Government Area of Akwa Ibom State.

He holds a degree in Geography and Regional Planning from the University of Uyo and a Master of Arts in Law and Diplomacy from the University of Jos. Placid also studied law at the National Open University of Nigeria.

Career In The Police

The new police spokesman began his career as a Cadet Assistant Superintendent of Police at the Police Academy in Kano in 1996 and was formally commissioned in August 1998.

Over the years, he has participated in several professional and international courses, including the United Nations Peace Operations Specialised Training (POST), where he earned certifications in police studies, military studies, gender awareness, international humanitarian law, human rights, and civilian protection.

He also attended the UNITAR Senior Leadership and Peacebuilding course in Kenya.

According to the police, Placid has served in several strategic capacities both within Nigeria and in international assignments.

Hundeyin added that the new spokesman is married with children and enjoys listening to music and playing sports such as football, basketball, table tennis, and badminton.

Appeal Court Set To Deliver Judgment On Disputed Ibadan PDP Convention

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Appeal Court Set To Deliver Judgment On Disputed Ibadan PDP Convention

The Court of Appeal in Abuja is set to deliver judgment on multiple appeals challenging the outcome of the Peoples Democratic Party (PDP) national elective convention held in Ibadan in November 2022.

The disputed convention, conducted on November 15 and 16, 2022, has been the subject of prolonged legal battles within the opposition party.

A total of nine appeals have been consolidated before the appellate court, all questioning the validity and legitimacy of the convention and some of the party’s leadership decisions that followed.

Several PDP leaders from opposing factions were present in court on Monday ahead of the judgment.

Among those sighted were former Minister of Special Duties Kabiru Tanimu Turaki and another faction led by Abdulrahman Mohammed.

Also present was PDP National Secretary Samuel Anyanwu, who was seen exchanging pleasantries with Turaki inside the courtroom.

The ruling is expected to clarify lingering disputes surrounding the party’s internal leadership structure and could have implications for the PDP’s preparations ahead of future elections.

More to follow…

Inter Miami Celebrated at White House as Trump Praises Messi After MLS Cup Triumph

Aniedi Udo
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Inter Miami Celebrated at White House as Trump Praises Messi After MLS Cup Triumph

Lionel Messi and his teammates from Inter Miami CF were honoured at the White House in Washington, D.C., on Thursday, where Donald Trump hosted the Major League Soccer champions following their 2025 title victory.

The Argentine football star led the team as players, coach Javier Mascherano and club co owner Jorge Mas joined the US president during a ceremony recognising the club’s historic season.

During the event, Trump reflected on football’s history in the United States and referenced the impact of Brazilian legend Pelé during his time with the New York Cosmos in the 1970s.

He praised Messi’s influence on the game and even compared the Argentine star to the Brazilian icon, noting that Messi’s achievements had elevated the sport’s profile in the country.

Inter Miami players also presented Trump with gifts, including a pink team jersey bearing the number 47, symbolising his position as the 47th president of the United States.

Trump acknowledged several members of the squad during the ceremony, including Uruguayan striker Luis Suárez, midfielder Rodrigo De Paul and rising talent Tadeo Allende.

The president also highlighted Messi’s winning mentality, noting that while many star athletes arrive in major leagues with huge expectations, few deliver success as consistently as the Argentine forward.

Inter Miami’s remarkable 2025 campaign included a 3 to 1 victory over the Vancouver Whitecaps in the MLS Cup final. The team also recorded a historic 2 to 1 win against Portuguese side FC Porto in the FIFA Club World Cup, marking the first time a North American club defeated a European team in an official competition.

Speaking on behalf of the club, Mas said Inter Miami’s rise since its debut season in 2020 reflects the belief that dedication, sacrifice and ambition can transform dreams into reality.

He added that the club’s international success goes beyond Messi’s presence, noting that the collective efforts of the players have helped reshape the culture of football in the United States and strengthened the league’s global reputation.

Iran Accuses UN, EU of Silence Over Escalating Middle East Crisis

Aniedi Udo
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Iran Accuses UN, EU of Silence Over Escalating Middle East Crisis

Iran has criticised major international institutions over what it described as their silence regarding the escalating crisis in the Middle East, accusing them of failing to fulfil their responsibility of maintaining global peace and security.

The Ambassador of the Islamic Republic of Iran to Nigeria, Gholamreza Mahdavi Raja, made the remarks during a media briefing with journalists in Abuja, where he expressed concern that the lack of decisive international action could worsen tensions across the region.

According to the envoy, the response of major global bodies has been inadequate despite the growing instability in the Middle East. He specifically criticised the roles of the United Nations and the European Union, questioning their silence in the face of rising hostilities.

Mahdavi Raja noted that the failure of the United Nations Security Council to convene an urgent meeting on the crisis raises questions about the effectiveness of institutions established to safeguard international stability.

He said the region is experiencing heightened conflict but has not received the urgent diplomatic attention expected from global organisations.

The ambassador further argued that the absence of strong diplomatic intervention has created the impression that some international institutions are influenced by powerful countries, particularly the United States.

According to him, global organisations risk losing credibility if they fail to respond impartially to acts of aggression and political assassinations within the region.

Mahdavi Raja also accused Western powers of pursuing policies that contribute to instability across the Middle East, referencing ongoing tensions and conflicts in countries such as Lebanon, Syria, Yemen and Iraq.

He maintained that Iran’s recent military strikes targeting American bases in the region were acts of self defence following attacks against Iranian leadership, stressing that the operations were directed at military facilities rather than civilian infrastructure.

The ambassador also said Iran had informed neighbouring Gulf states that its actions were aimed specifically at American facilities located within their territories rather than their cities.

Mahdavi Raja warned that continued instability in the region could have far reaching consequences for the global economy, particularly the energy sector. He explained that any disruption around the strategic Strait of Hormuz could affect global oil shipments, as the route carries a significant portion of the world’s oil and gas supply.

He reiterated that Iran does not seek war but remains committed to defending its sovereignty and national security, adding that continued inaction by global institutions could deepen tensions and prolong the crisis across the Middle East.

Zamfara Governor Dauda Lawal Set To Defect From PDP To APC

Aniedi Udo
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Zamfara Governor Dauda Lawal Set To Defect From PDP To APC

Zamfara State Governor, Dauda Lawal, is reportedly preparing to defect from the opposition Peoples Democratic Party (PDP) to the ruling All Progressives Congress (APC) following consultations with political stakeholders in the state.

Sources within the APC disclosed that the governor has held a series of meetings with members of his cabinet, political associates and other stakeholders in the Zamfara State capital, Gusau, to deliberate on the state’s political direction amid the ongoing crisis within the PDP.

According to the sources, discussions during the consultations centred on the possibility of Lawal joining the ruling party, with the defection expected to take place before the end of the Muslim fasting period.

If the move materialises, it could further weaken the PDP while strengthening the APC’s dominance across the country, potentially increasing the number of APC-controlled states to 31 as political realignments continue ahead of the next electoral cycle.

The development comes amid mounting pressure from political groups and influential figures in Zamfara urging the governor to align with the party at the federal level. Advocates of the move argue that political alignment with the centre could improve cooperation with the federal government and enhance access to resources needed to tackle the state’s security and development challenges.

Zamfara has faced persistent banditry, kidnapping and rural violence for several years, placing heavy pressure on the state’s finances and security infrastructure. Some stakeholders believe closer collaboration with the federal government could strengthen ongoing efforts to address these challenges.

Fueling speculation about a possible defection, Governor Lawal recently suggested that remaining outside the ruling party may have placed the state at a disadvantage in accessing certain federal benefits.

Speaking during an interaction with stakeholders, the governor stated that Zamfara had not received federal intervention funds beyond statutory allocations since he assumed office in 2023.

He claimed that some states had received more than ₦500 billion in federal palliative support following the removal of fuel subsidy, adding that Zamfara had not benefited from similar interventions.

Lawal, a former banker, won the 2023 governorship election on the PDP platform after defeating the incumbent APC administration, a victory widely regarded as a major upset in the North West political landscape.

However, the PDP has continued to face internal divisions at the national level, while the APC has consolidated political influence across several states, prompting speculation that more opposition governors may consider switching parties ahead of the 2027 general elections.

Meanwhile, former Bayelsa State governor and Senator representing Bayelsa West, Seriake Dickson, has announced his defection from the Peoples Democratic Party to the Nigeria Democratic Congress (NDC).

Dickson said the decision followed extensive consultations with political associates and supporters across the country. He attributed his departure to the deepening crisis within the PDP and the need to help build a credible democratic alternative in Nigeria.

The former governor, who joined the PDP in 2005, expressed concern that the party’s internal conflicts and leadership challenges have weakened its ability to function effectively as a national opposition platform.

He also warned against the risk of Nigeria drifting toward a one party political system, stressing the importance of maintaining a vibrant multi party democracy in a country as diverse as Nigeria.

Middle East War Enters Seventh Day As Israel Strikes Beirut

Aniedi Udo
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Middle East War Enters Seventh Day As Israel Strikes Beirut

The escalating Middle East conflict involving Iran and Israel has entered its seventh day, with Israeli forces launching airstrikes on the southern suburbs of Beirut, Lebanon, as part of what the military described as the “next phase” of its campaign.

The Israeli military had earlier issued a rare evacuation warning to residents of the area, urging them to leave immediately for their safety. The warning triggered panic across the neighbourhoods as thousands of residents fled their homes.

Lebanon became directly involved in the widening conflict earlier in the week when the militant group Hezbollah launched attacks on Israel, reportedly in retaliation for the killing of Iran’s Supreme Leader, Ali Khamenei. Israel responded with a series of airstrikes and ground operations targeting what it described as Hezbollah infrastructure.

Authorities in Lebanon say the violence has resulted in at least 123 deaths since Monday, with 683 others injured and more than 90,000 people displaced from their homes.

The conflict has also begun to spread beyond the immediate region. A United States submarine reportedly torpedoed an Iranian warship near the Sri Lankan coast, while tensions rose in Azerbaijan after a drone strike hit an airport. Azerbaijani President Ilham Aliyev warned that the attack would “not go unanswered,” accusing Iran of involvement, an allegation Tehran has denied.

In the Gulf region, several countries have reported missile and drone attacks linked to the ongoing conflict. Bahrain confirmed that two hotels and a residential building in its capital, Manama, were targeted, though authorities said there were no casualties. Saudi Arabia said it intercepted three ballistic missiles heading toward a military air base.

Qatar also reported intercepting a missile over its capital, Doha, while falling debris from a downed drone injured six people in Abu Dhabi in the United Arab Emirates.

Meanwhile, Iranian authorities claim that more than 1,200 people have been killed by U.S. and Israeli strikes since the war began, although the figure has not been independently verified.

Israeli military officials say significant damage has been inflicted on Iran’s military capabilities, claiming that around 60 percent of Iran’s missile launchers and 80 percent of its air defence systems have been destroyed.

Iran, however, has maintained a defiant stance. The country’s Foreign Minister, Abbas Araghchi, stated that Tehran had not sought a ceasefire and saw no reason to negotiate with the United States at this stage.

As the conflict intensifies, concerns are growing globally that the war could further expand across the Middle East and beyond.

Source: ADBN TV

NDLEA Arrests ‘UK-Wanted Drug Lord’ After 15 Years on the Run

Aniedi Udo
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NDLEA Arrests ‘UK-Wanted Drug Lord’ After 15 Years on the Run

The National Drug Law Enforcement Agency (NDLEA) has apprehended a 58-year-old alleged fugitive drug lord, Uzoma Valentine Ilomuanya, ending a 15-year-long manhunt spanning Nigeria and the United Kingdom.

According to a statement by NDLEA Director of Media & Advocacy, Femi Babafemi, Ilomuanya was arrested on Monday, February 23, 2026, in Lagos following a meticulously coordinated operation by the Agency’s Special Operations Unit. His arrest concludes a prolonged pursuit tied to his alleged extensive involvement in drug-related crimes internationally.

Ilomuanya was first arrested in February 2003 and convicted in the UK for drug trafficking, receiving a nine-year sentence but released after two years upon appeal. He was arrested again in the UK in July 2011 for drug offenses, granted administrative bail, but fled to Nigeria.

In November 2018, NDLEA operatives discovered two clandestine methamphetamine laboratories linked to him—one in Obinugwu, Orlu LGA, Imo State, and another at his Lagos residence—recovering 77.960 kilograms of methamphetamine and significant production equipment. He was subsequently charged in a Federal High Court in Lagos but jumped bail and remained at large until this recent arrest.

NDLEA Chairman/CEO Brig. Gen. Mohamed Buba Marwa (Rtd) described the arrest as a major victory in Nigeria’s fight against drug trafficking. He stated, “This arrest serves as a stern warning to those who think they can hide behind borders to escape justice. Whether you jump bail in London or set up clandestine labs in your village, the long arm of the NDLEA will eventually catch up with those who undermine the health, security, and future of our nation.”

Marwa praised the Special Operations Unit for their professionalism and resilience, emphasizing that the NDLEA will continue to strengthen intelligence-led operations and deepen international collaborations to dismantle drug trafficking networks operating in Nigeria.

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