Lucid's blog

The President of the Dangote Group,  Aliko Dangote , has announced plans to reduce the soaring price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, in the country. Naija News  reports that he warned that if distributors fail to comply, his refinery may begin direct sales to end-users to reduce the cost. This move, however, has triggered anxiety among existing market operators who view it as a step toward monopolising the LPG sector. Speaking during a recent visit by members of the Lagos Business School CGEO Africa to his Lekki refinery, Dangote described the current cooking gas price as prohibitive for ordinary Nigerians, many of whom rely on firewood or kerosene for daily cooking. Dangote stated,  “The one that we didn’t write, which you must have seen, is LPG. Currently, we do LPG of about 2,000 tonnes per day. You know Nigeria is gradually moving to the usage of LPG. But I believe it is expensive, but right now we’re trying to bring down the price and...

It is okay to blame CBEX victims for being greedy, but the issue is far bigger than the victims and their penchant for quick money.  Ponzi businesses thrive in Nigeria because the authorities are not doing enough to stop this madness and protect our vulnerable citizens. It has been over 4 years since Chinmark crashed with over 7 billion naira of retail investors money trapped in the process.  The protagonist of the whole heist, Chinedu Ijomah, is still on Facebook and Instagram posting motivational speeches while the victims are still licking their wounds, yet to recover from the trauma of losing their life savings with him.  In the next few years from now, Chinmark will come back and join APC and probably run for a House of Reps seat in Umuahia, and since he has enough liquidity stolen from investors who trusted him, he will buy enough votes to win his election.  Just like that.  A society that encourages, celebrates, and rewards criminals is one wh...

For months, Nigerians at home and abroad were swept up in the latest wave of Ponzi schemes cleverly disguised as forex trading platforms. Names like CBEX, PCEX, WWWCOIN, and several others quickly became household terms. They promised high returns on investments, often claiming to engage in crypto or futures trading. And for a while, they delivered until the bubble burst. The exact origins of these platforms are hard to trace, but one thing is certain: they grew rapidly, thanks to aggressive marketing and word-of-mouth testimonials. The schemes offered daily profits, typically at a rate of 1 percent of the total investment. These returns were shared in real time, with trading signals dished out at specific hours of the day. The results were attractive, almost too good to be true. But in a country where economic hardship continues to push people toward quick money opportunities, skepticism was easily overridden by the testimonies of early beneficiaries. Indeed, many Nigerian...

Tope Fasua, Special Adviser to President Tinubu on Economic Affairs, sparked debate with a striking comparison of living costs between the U.S. and Nigeria Fasua, an economist and former presidential candidate, highlighted the disparity: "$10 won’t buy you lunch anywhere in the U.S.; you need at least $20. $20 x ₦1,500 is ₦30,000. In Gwarinpa, Abuja, some people sell bole and fish on the roadside—you can eat for ₦1,500. What $10 will do in New York, you only need $1 in Nigeria." Fasua’s statement, shared via a post on X by Imran Muhammad on April 6, 2025, underscores the purchasing power differences between the two nations. At an exchange rate of ₦1,500 to $1, ₦1,500 equates to roughly $1, meaning a modest roadside meal in Nigeria costs a fraction of a U.S. lunch. This aligns with Fasua’s broader narrative, as seen in his Premium Times articles, where he argues Nigeria’s economic challenges are often overstated, emphasizing the country’s potential despite income i...

According to reports from  Vanguard  on Saturday, April 5, Nigerians may soon experience a reduction in the cost of petrol, as international crude oil prices witness a notable decline and oil producers prepare to ramp up supply. The benchmark price of Brent crude oil, which influences the global pricing of petroleum products, has dropped to $65 per barrel, down from its previous value of $69.90. This downward shift is expected to reflect on the domestic market, potentially reducing the cost of Premium Motor Spirit (PMS), commonly known as petrol, for consumers across Nigeria. Industry analysts link the fall in crude prices to several factors, including global economic tensions and recent geopolitical developments. Notably, increased pressure from U.S. policy changes, including new tariffs announced by President Donald Trump, have shaken investor confidence and contributed to a decline in oil prices. Additionally, the Organisation of Petroleum Exporting Countries an...

President Tinubu has sacked Mele Kyari, the Group CEO of NNPCL, and appointed Engr. Bashir Bayo Ojulari as the new GCEO, alongside Ahmadu Musa Kida as the non-executive chairman. According to a report by The Punch, the President also removed all board members appointed with Kyari in November 2023. This shakeup comes amid ongoing tensions between NNPCL and Dangote Refinery. The two entities had previously agreed to sell Nigeria's crude oil to the refinery in naira, aiming to stabilize the naira and reduce fuel prices. However, the deal ended a month ago, leading to an increase in fuel prices and a shift towards importing fuel as Dangote began selling in dollars. Speculation about Kyari’s removal grew after he reached retirement age, but the President had not acted on it until now. In addition to Ojulari and Kida’s appointments, President Tinubu also named new board members, including Adedapo Segun as CFO, and six non-executive directors representing various regions of Ni...

Heirs Holdings Founder and Group Chair, Tony O. Elumelu, CFR, has been appointed by the International Monetary Fund (IMF) to its Advisory Council on Entrepreneurship and Growth, convened by IMF Managing Director, Kristalina Georgieva. Mr. Elumelu, Africa’s leading advocate of entrepreneurship and whose Foundation has funded, mentored and trained over 25,000 African entrepreneurs since 2015, champions entrepreneurship as the engine for the economic transformation of Africa. A self-made entrepreneur, Elumelu’s embracing of entrepreneurship is fundamental to his concept of Africapitalism, his belief that Africa’s private sector can and must play a leading role in the continent’s development, making long-term investments, that deliver social and economic value. Mr Elumelu said “I am honoured to receive the invitation of Kristalina Georgieva to join the IMF’s Advisory Council on Entrepreneurship and Growth. As an entrepreneur, a builder of businesses and a champion of entrepreneurship, I kn...

The FCT Police Command has intercepted no fewer than 488 live ammunition concealed in jerrycans of oil. FCT Police spokesperson, SP Josephine Adeh, disclosed that the suspect behind the illicit shipment has been nabbed. According to Adeh, acting in synergy with officials of the National Union of Road Transport Workers (NURTW), police operatives from the Nyanya Division, FCT Command, tracked and arrested NUHU AMINU, a 32-year-old man from Katsina State, at the Nyanya bus terminal on March 24, 2025. The suspect was caught in possession of 488 AK-47 live rounds of ammunition, ingeniously concealed in two 25-litre jerrycans filled with palm oil to evade detection. Upon interrogation, Aminu confessed that he was recruited by one YAKUBU KACHALLA of Funtua, Katsina State, who allegedly paid him ₦100,000 to collect the illegal cargo from an unidentified contact in Nasarawa State and deliver it to Katsina. The suspect is said to be in custody, and investigations are ongoing to appre...

President Donald Trump reportedly wants Russia and Ukraine to agree on a ceasefire by Easter Sunday, following the resumption of peace talks The timetable was revealed as negotiations began again yesterday in Saudi Arabia's capital Riyadh, Mail Online reports.   It also followed a night of intense Russian bombing of Kyiv and other Ukrainian cities. The dead included a five-year-old and the wounded an 11-month-old baby.'   Since peace talks began Russia has appeared intent on dragging out the process and yesterday was no different. Kremlin spokesman Dmitry Peskov predicted that negotiations would prove 'difficult'.   Ukraine's defence minister Rustem Umerov said yesterday they were 'working through complex technical issues. Our delegation includes energy experts as well as military representatives.'   The next stage is expected to centre on safe passage for vessels through the Black Sea.   In Riyadh, US officials will meet sep...

The singer fault the developers for environmental degradation

Nigerian actress Nkechi Blessing Sunday (NBS) has expressed her frustration over losing multiple brand endorsement opportunities due to her past online behavior. The actress, previously known for her outspoken nature and social media controversies, admitted she now regrets some of her actions. She often engaged in public disputes with former partners and industry colleagues, which seems to have affected her professional reputation. In an emotional video shared on her official Instagram page, Nkechi Blessing revealed that while some people initially show interest in working with her, they later withdraw after seeking third-party opinions. She explained that her online controversies stemmed from defending herself against negative portrayals by past romantic partners rather than initiating conflicts. According to the actress, she has never intentionally dragged anyone online but only responds when she feels attacked. She now faces the consequences of these past exchanges, as p...

Nigerian skit maker cum Nollywood actor, Debo Adedayo, better known as  Mr Macaroni , has opened up about being a victim of a scam and a failed investment. Naija News  reports that Macaroni, in a lengthy post via his X handle on Thursday, admitted that his financial recklessness and generosity negatively impacted his financial stability. The movie star said he resorted to borrowing to settle pending commitments and fulfil certain responsibilities after losing all his savings. The actor stated that 2024 marked a pivotal moment in his acting career, but it was also the most challenging year for him as he faced over half a billion naira in debt. Mr Macaroni revealed that his frustration grew worse after he was betrayed by someone he considered a friend and sister. He added that with the support of family and friends who stood by him during his trying times, he feels better than he had felt in the last three years. He wrote,  “Sometime around 2021/2022 I was victi...

The Economic and Financial Crimes Commission (EFCC) has rearrested Friday Audu, who is accused of masterminding a massive cryptocurrency investment fraud and romance scam.  This operation reportedly involved 193 foreigners and numerous Nigerians, with allegations of fraud amounting to ₦3.4 billion. Audu was initially granted bail by the Federal High Court in Lagos but was rearrested shortly after stepping out of the courthouse. The case also implicates two Chinese nationals and a company, Genting International Ltd, in a 12-count charge of cybercrime and financial fraud. The EFCC alleges that the syndicate recruited young Nigerians to pose as foreigners online, orchestrating a network of digital deception to defraud individuals and institutions worldwide.

Payment firms PalmPay and AfriGO aim to distribute over five million AfriGO cards in a strategic collaboration to expand financial access for unbanked and underserved Nigerians. According to them, this strategic initiative will enhance payment options for the unbanked while reinforcing Nigeria’s digital economy. AfriGO, powered by Afrigopay Financial Services Limited—a subsidiary of the Nigeria Inter-Bank Settlement System—is a domestically developed payment solution designed to promote financial sovereignty. By leveraging AfriGO’s infrastructure, PalmPay is expanding its digital payment offerings to meet the unique needs of the local market. “At PalmPay, we are committed to creating financial solutions that are not only innovative but also inclusive,” said Managing Director of PalmPay Nigeria, Chika Nwosu, in a statement to  The PUNCH. He continued, “Partnering with AfriGO allows us to deliver secure, cost-effective, and localised payment options that empower Nigerians...

Everyone wants a bright, white smile, but achieving it quickly can feel like a challenge. Luckily, there are several methods to help you brighten your teeth in as little as 24 hours. While some of these options are temporary fixes, they can give you that confidence boost you need for a special occasion. Let’s dive into five effective ways to get whiter teeth within a day. 1. Whitening Toothpaste and Baking Soda Whitening toothpaste is a great starting point. Most whitening toothpaste contains mild abrasives that help polish teeth and remove surface stains. For an extra boost, try mixing a small amount of baking soda with your toothpaste. Baking soda is a natural abrasive that can break down stains and brighten your teeth quickly. However, it’s important not to overdo it, as excessive use can damage your enamel. Here’s how to use it: Wet your toothbrush and prepare the mixture : Start by wetting your toothbrush and dipping it into a mixture of baking soda and toothpaste. Thi...

ABUJA, Nigeria — The Economic and Financial Crimes Commission ( EFCC ) has arrested Alhaji Sirajo Mohammed Jaja, the Accountant General of Bauchi State, over an alleged ₦70 billion fraud. Jaja was apprehended in Abuja on Wednesday, March 19, 2025 alongside Aliyu Abubakar, an unlicensed Bureau de Change (BDC) operator, and Sunusi Ibrahim Sambo, a Point of Sale (PoS) operator. EFCC spokesperson Dele Oyewale confirmed the arrest in a statement on Wednesday, stating that the arrest is part of an ongoing investigation into alleged money laundering, diversion of public funds, and misappropriation of state resources. The statement read, “He was arrested in Abuja on Wednesday, 19 March 2025, alongside Aliyu Abubakar of Jasfad Resources Enterprise, an unlicensed bureau de change operator, and Sunusi Ibrahim Sambo, a Point of Sale (PoS) operator. They were arrested in connection with investigations of money laundering, diversion of public funds, and misappropriation to the tune of ₦7...

A British Airways crew member has reportedly been arrested in Singapore after allegedly r@ping a stewardess colleague. According to Mail Online, the unnamed man was locked up last night after being accused of attacking the woman following a night out between flights.   It was gathered that two female BA staff members have since been flown back home following the recent incident. Airline managers have also flown to Singapore to liaise with authorities there, and the arrested crew member, who is currently behind bars.  As per The Sun, a source said yesterday: 'Everyone is numb. The r@pe accused steward has flown with BA for years.   'The case is under the jurisdiction of Singapore authorities and proving a major headache for aviation chiefs.'   Offenders found guilty of r@ping a victim over the age of 14 in Singapore face a prison sentence of up to 20 years and will also be liable to a fine or caning.    It comes after a former...

The Chief of Staff to the President, Rt Hon Femi Gbajabiamila has assured the Nigerian Institute of Architects, (NIA) that the Federal Government will collaborate with the institute to ensure proper regulation in order to curtail the incessant building collapse witnessed in different parts of the country. Hon Gbajabiamila spoke at the State House on Wednesday when he received on a courtesy visit, a delegation of the Nigerian Institute of Architects, led by its National President, Arc. Mobolaji Adeniyi. He noted that every profession had its challenges, and that quackery remained a major challenge in the industry, declaring that it was imperative for the institute to intensify its efforts towards sanitizing the building space. According to the Chief of Staff, “I think it is important for proper regulation in the industry; You must address the use of substandard materials leading to building collapse and other associated problems. Your body should be able to sue quacks becaus...

The landing cost of imported premium motor spirit (PMS) has fallen to ₦797.66 per litre due to the ongoing competition among petroleum marketers. Naija News  reports that the Major Energies Marketers Association of Nigeria (MEMAN) stated in its daily energy bulletin that this amount reflects a decrease of N20.16 from the ₦817.82 per litre landing cost noted on March 14. The report further indicated that the spot price at the NPSC-NOJ terminal has decreased to ₦797.73 per litre, down from the ₦817.9 charged the  previous  week. Additionally, the average price for the past 30 days has declined to ₦851.76 from ₦854.15 per litre. MEMAN also reported that the price of Brent crude oil is currently set at $70.58 per barrel, an increase from the $69.88 reported on March 14. The organization noted that the exchange rate is at ₦1,517.93 per dollar, with the marketers calculating the product quantity at 38,000 metric tonnes. It is worth noting that international petroleu...

The shocking incident was shared on X with a video of the moment the man was freed by concerned individuals. According to repordeathhe, the altercation began as an argument between the man and his wife regarding his retirement funds. The situation escalated into a physical confrontation, during which the man was allegedly restrained by his wife and children, leaving him in distress. The husband had reportedly received his retirement payout and used a portion to open two shops for his wife in Abule after giving her N3 million..... He also bought a N12 million car for himself while the family already owned a home in the area. However, his wife and four sons, who are all university graduates, were not happy that he did not hand over the entire funds to them to use as they deemed fit so they attempted to pressure him for more money. Shortly after acquiring the new vehicle for himself, he sold it, raising suspicions among neighbors. A local landlord, who spoke to The Nation, rev...