News
Dangote Refinery has clarified that they did not receive a $1 billion loan from NNPC.

In a recent statement, the management of Dangote Group has addressed claims made by the Nigerian National Petroleum Company Limited (NNPCL) regarding a purported $1 billion loan that was said to have supported the Dangote Refinery. Anthony Chiejina, the Group Chief Branding and Communications Officer, emphasized that this assertion is misleading.
Chiejina clarified that the $1 billion in question was not a loan but rather part of a larger investment agreement. Specifically, NNPCL was expected to pay $1 billion as part of a total investment of $2.76 billion for a 20 percent stake in the refinery. The failure of NNPCL to fulfill the agreed terms has resulted in a significant reduction of its stake to 7.24 percent.
The statement further elaborated on the context of the partnership, noting that the collaboration was established due to NNPCL’s strategic position as the largest off-taker of Nigerian crude oil and its role as the sole supplier of gasoline in Nigeria at the time. The agreement included provisions for the recovery of the remaining balance over five years through deductions from crude oil supplied to the refinery and dividends owed to NNPCL.
In conclusion, Dangote Group seeks to clarify the nature of its financial arrangements with NNPCL, asserting that the recent claims do not accurately reflect the true nature of their partnership and investment in the Dangote Refinery.
Entertainment
Val Kilmer, Acclaimed Actor, Passes Away at 65.

Hollywood mourns the loss of Val Kilmer, the acclaimed actor known for his diverse and memorable roles, who passed away in Los Angeles on Tuesday at the age of 65. His daughter, Mercedes Kilmer, confirmed the news.
Kilmer, a prominent figure in 1990s cinema, achieved widespread recognition for his performances in iconic films such as “Top Gun,” “The Doors,” where he embodied Jim Morrison, and “Tombstone,” where he portrayed Doc Holliday. He also donned the cowl as Batman in “Batman Forever.” His extensive filmography includes significant roles in “Heat,” “The Saint,” “Willow,” and the recent “Top Gun: Maverick.”
Beyond his on-screen achievements, Kilmer’s career was marked by periods of controversy and fluctuating box office success. He was reportedly diagnosed with throat cancer in 2014, though he later recovered.
Val Kilmer’s talent and dedication to his craft will undoubtedly be remembered by audiences for years to come.
Foreign
Case Dismissed: Federal Charges Against Mayor Adams Dropped.

On Wednesday, District Court Judge Dale Ho dismissed, with prejudice, the federal criminal case against New York City Mayor Eric Adams. This action effectively terminates the possibility of the Department of Justice (DOJ) resurrecting the five-count indictment against the Democrat in the US District Court in Manhattan.
The dismissal follows a controversial request by the Trump administration, nearly two months prior, to drop the corruption charges. The DOJ argued that prosecution would impede Mayor Adams’ ability to govern New York City and collaborate with the administration’s immigration enforcement policies.
The request prompted significant internal dissent, culminating in the resignation of seven federal prosecutors, including the acting Manhattan US attorney. Their departure underscores the contentious nature of the decision to seek dismissal and the ethical questions it raised within the Department. The “with prejudice” ruling solidifies the finality of this complex and closely watched legal battle.
Entertainment
Mayorkun Considers Relocation Amidst Rising Trend of Nigerian Celebrities Abroad.

Afrobeats artist Mayorkun, known for hits like “Mayor of Lagos,” has publicly expressed his contemplation of relocating abroad. In a recent post on X, the singer stated, “I dey reason to japa [relocate].”
Mayorkun’s sentiment echoes a growing trend among Nigerian celebrities. The past decade has witnessed a significant exodus, with notable figures such as Tacha, Eldee, and Genevieve Nnaji among those who have chosen to relocate. This trend, further exemplified by Banky W’s move to the United States for educational pursuits last year, highlights concerns regarding current socio-economic conditions within Nigeria. The reasons behind these decisions are multifaceted and warrant further observation as more prominent figures weigh similar options.
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