celebrity radar - gossips
Recession: FG To Sell Refineries, NLNG Shares & Presidential Aircraft
The Federal Government has concluded arrangements to sell the nation’s critical assets in order to raise $15 billion to rescue the country out of economic recession. Minister of Budget and National Planning, Senator Udoma Udo Udoma, disclosed this at a cabinet retreat hosted at the presidential villa, Abuja.
New Telegraph investigations revealed that some of the assets being considered for sale are government shares in Joint Venture Companies (JVCs) and the Nigeria Liquefied Natural Gas (NLNG).
The national assets to be sold include the four refineries in Kaduna, Wari, and Port Harcourt as well as some aircraft in the presidential fleet. Speaking at the just concluded cabinet retreat, Udoma in a document entitled “Turning a Crisis into an Opportunity: the Economy and the 2017 Budget,” obtained by New Telegraph yesterday, explained that the sale of government assets, Advance Payment for License renewals, infrastructure concessioning and use of recovered funds from corrupt officials were part of strategies put in place by government to bridge the huge funding gap. Our correspondent confirmed that the Presidential Air Fleet (PAF) contains 10 aircraft.
These are Boeing Business Jet (Boeing 737-800 or AirForce One), one Gulfstream 550, one Gulfstream V (Gulfstream 500), two Falcons 7X, one Hawker Sidley 4000, two AgustaWestland AW 139 helicopters and two Agusta Westland AW 101 helicopters. Each of the two Falcon 7X jets was purchased in 2010 by the Federal Government for $51.1 million, while the Gulfstream 550 costs $53.3 million.
The Federal Government, through the Nigerian National Petroleum Corporation (NNPC), owns 49 per cent shares in NLNG Limited while Shell Gas B.V. owns 25.6 per cent, Total LNG Nigeria Ltd owns 15 per cent and Eni International owns 10.4 per cent. In the four refineries in Warri, Port Harcourt and Kaduna, the Federal Government has 100 per cent stake, which is up for sale.
The government has, since 1999 when the country returned to democracy, expended N264 billion on maintenance of the four refineries. In spite of billions claimed to have been spent by the NNPC over the last 16 years on Turn Around Maintenance (TAM), the country’s refineries have remained in comatose.
The four refineries located in Port Harcourt (two), Warri and Kaduna have a combined capacity to refine 445,000 barrels of crude per day. The Senate yesterday threw its weight behind the Federal Government in the planned sales of the national assets. Senate President Bukola Saraki, at a plenary, urged President Muhammadu Buhari to sell some important national assets as part of efforts to boost the country’s dwindling foreign reserves.
According to Saraki, “The executive must raise capital from asset sales and other sources to shore up foreign reserves. This will calm investors, discourage currency speculation and stabilise the economy.
“The measures should include part sale of NLNG Holdings; reduction of government’s share in upstream oil joint venture operations; sale of government stake in financial institutions e.g. Africa Finance Corporation; and the privatization and concession of major/regional airports and refineries.”
Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, and Africa’s richest man, Aliko Dangote,have expressed support for the sale of the national assets.
Emefiele said the best option open to government is to sell the assets. “In the short run, we can sell assets… before the government came on board, I had opined that there was need for the government to scale down or sell off some of its investments in oil and gas, particularly in the NNPC and NLNG as at that time when the price of oil was around $50-$55 per barrel.
“We actually commissioned some consultants that conducted the study and, at the end of that study, we were told that if we sold 10% to 15% of our holding in the oil and gas sector, we could realise up to $40 billion,” the CBN governor said at the weekend.
At the weekend, Africa’s richest man, Aliko Dangote, specifically told the Federal Government to sell its stake in the NLNG, to beef up foreign reserves.
A communique issued at the end of the ministe-rial retreat indicate that the Budget and National Planning Minister had explained that “government was working hard to resolve the militant disruptions in the Niger Delta, and, in addition, a fiscal stimulus strategy was being developed involving, amongst other things, a plan to generate and inject large amount of funds, principally in foreign currency, estimated at $10 – $15 billion into the economy through Asset Sales, Advance Payment for License renewals, infrastructure.”
The Federal Government intends to achieve the sale of the assets through introduction of measures, including presidential orders that could fast track transaction processes. Buhari is expected to send to the leadership of the Senate soon an Emergency Economic Recovery Bill (EERB) that will take care of some of the challenges that are likely to thwart the sale process.
“Government was also planning to introduce measures for fast-tracking procedures so as to speed up the processes for getting these funds into the economy. Some of these will be achieved by Presidential Orders and Directives. “In addition, an Emergency Economic Recovery Bill is also being prepared for submission to the National Assembly to deal with those changes requiring legislation,” Udoma said.
The key resolutions, according to the communiqué issued at the end of the retreat and obtained yesterday by New Telegraph, are: (i) The programme of action for dealing with the recession and the current effort of government in developing an Economic Emergency Recovery Bill to address the situation, as well as the plan to bridge the funding gap was endorsed by participants; (ii) The need to prioritise capital spending in the 2017 budget in the area of infrastructure development, agriculture and social intervention; (iii) The retreat participants agreed on 2-3 quick-win areas to be implemented before the end of 2016 and six priority/ programme project areas for the 2017 Budget.
The quick wins agreed on are: (i) Immediate implementation of the social intervention programmes (School Feeding, N-Power; Science, Technology, Engineering and Mathematics (STEM) scheme; Conditional Cash Transfer (CCT), etc.; (ii) Effective communication of government projects, programmes and policies to the citizens will go a long way in mobilising support for government to succeed; (iii) Local debt repayment, including debt owed states and contractors to stimulate spending.
Meanwhile, government has confirmed that the 2016 Budget poor performance is reflective of the low revenue out-turns attributable to the global and domestic developments earlier highlighted.
“Oil revenues fell significantly in the second quarter compared to the first quarter as a result of increased oil pipeline vandalism and production shut-ins.
“Non-oil revenues also declined due to the acute shortage of foreign exchange,” Udoma said. The minister said that the failure to diversify the economy and implement the national goals due to lack of discipline in the past had made the country witness negative growth. Udoma said the major factor responsible for the recession was the overdependence of the economy on revenues from a single commodity, petroleum.
According to him, revenue source is not sustainable since the country doesn’t control the price of crude oil.
He said unsustainable structure was characterised by some indices, including “oil sector less than nine per cent of Gross Domestic Product (GDP), but about 80 per cent of government revenue and 95 per cent of Forex.” Other indices are “nonoil sector about 90 per cent of GDP (of which 52 per cent was indirectly dependent on oil) but less than 20 per cent of government revenue.
According to him, another index is declining capital expenditure with rising recurrent expenditure (2015 about 10 per cent capital) and import dependent consumption growth model with stagnant growth in investment to GDP.
New Telegraph
celebrity radar - gossips
Another Feather for Nollywood Icon Fidelis Duker
**Another Feather for Nollywood Icon Fidelis Duker
*Lagos, Nigeria* — In a remarkable celebration of artistic achievement, renowned Nollywood figure Fidelis Duker received yet another prestigious accolade last weekend, solidifying his role as a key player in the growth of the Nigerian and African film industries. The award was presented in a ceremony held at Duker’s Lagos office by esteemed film and theatre director, Mr. Alex Eyengho, founder of the Warri International Film Festival, alongside Marketing and Strategy Director, Mrs. Matel Eyengho.
The recent recognition builds upon Duker’s previous achievement at last year’s ECOFEST in Dakar, where he was honored with a Lifetime Achievement Award. This latest accolade is a testament to his unwavering dedication and substantial contributions to the cinematic landscape.
“I am truly humbled by this recognition,” Duker expressed during the event. In his speech, Alex Eyengho lauded Duker’s pioneering efforts in establishing significant film festivals in Nigeria, particularly the Abuja International Film Festival, which has played a vital role in promoting local talent and storytelling.
Eyengho emphasized, “Fidelis has not only paved the way for emerging filmmakers but has also helped elevate Nigerian cinema on the global stage. His creative vision and commitment inspire all of us in the industry.”
As Duker reflects on this honor, he acknowledges the importance of teamwork and collaboration in achieving success. “This acknowledgment reaffirms to my team and me that our work is being observed, and it motivates us to continue contributing to the development of our sector,” he stated.
With numerous projects on the horizon, Duker remains a relentless advocate for the growth and recognition of African cinema. His latest recognition is yet another testament to the vibrant and evolving landscape of Nollywood, as industry leaders like him continue to inspire future generations.
As the film industry anticipates the next phase of development, Duker’s continued influence signals a promising future for filmmakers in Nigeria and across the continent.
celebrity radar - gossips
E‑Money’s Grand Gesture: A Closer Look at the SUV Gift to Chinedu “Aki” Ikedieze
E‑Money’s Grand Gesture: A Closer Look at the SUV Gift to Chinedu “Aki” Ikedieze
By George Omagbemi Sylvester | Published by SaharaWeeklyNG
“Public Generosity, Celebrity Loyalty and the Symbolism of Wealth in Nigeria’s Entertainment Elite.”
On Tuesday, February 17, 2026, Nigerian billionaire and entrepreneur Emeka Okonkwo, widely known as E‑Money, once again captured national attention with a lavish and highly publicised act of generosity, gifting a brand‑new 2024/2025 Ford SUV to veteran Nollywood actor Chinedu Ikedieze, affectionately called Aki, during his high‑profile birthday celebration.
The event, held in Lagos amidst a constellation of entertainers, business figures and socialites, was itself part of an annual tradition in which E‑Money marks his birthday (on February 18) with large‑scale giveaways and spectacular shows of material philanthropy. This year, he announced the gift of over 30 cars to friends, staff and family, a gesture that quickly went viral as videos and images circulated across social media platforms.
In the case of Ikedieze, E‑Money’s gift appeared to be deeply personal. During the festivities, E‑Money stood beside his elder brother, Grammy‑nominated musician KCee and recounted how Ikedieze stood by him at his 2007 wedding. The billionaire explained that the SUV was a “token of appreciation” for the enduring support the actor had shown over the years which is a narrative that blends friendship with public celebration.
Ikedieze, a Nollywood staple with a career spanning more than two decades and over 150 film credits, including the iconic Aki na Ukwa franchise, visibly reacted with humble surprise as he received the vehicle, bowing his head in respect and gratitude. The actor later shared the moment on his Instagram account with a caption celebrating the gift, further fuelling online engagement around the event.
Beyond the spectacle, this incident underscores evolving dynamics in Nigerian celebrity culture and the intersection of wealth, influence and reciprocity. Sociologist Dr. Chinedum Uche of the University of Lagos, speaking on the broader implications of such high‑profile gifts, notes: “Philanthropy that is highly publicised can reinforce social bonds, but it also reflects a culture where generosity is intertwined with reputation economy; where giving becomes as much a social signal as it is an act of kindness.” The quote highlights how public acts of wealth transfer among elites serve layered social functions that extend beyond pure altruism.
Critics of such displays argue that ostentatious giveaways, particularly in a country with stark economic disparities, risk amplifying social envy and exacerbating perceptions of inequality. Economist Dr. Ifunanya Nwosu from the Lagos Business School observes: “In societies marked by economic stratification, celebrity largesse may inspire admiration, but it can also inadvertently highlight structural inequities; prompting questions about systemic investment in public welfare versus individual generosity.”
Still, supporters maintain that E‑Money’s annual tradition (which has in past years included cash gifts to his brother KCee, comedians and even domestic staff) reflects genuine gratitude and a commitment to uplifting his immediate circle, albeit within the private sphere.
For Ikedieze, the SUV stands both as a heartfelt gesture from a longtime friend and a public affirmation of their enduring relationship. As the video of the moment continues to circulate, the broader narrative has ignited discussions about the role of private wealth in public life, celebrity culture and how acts of giving are interpreted in contemporary Nigerian society.
In a landscape where influence and generosity often play out in equal measure on public stages, E‑Money’s gift to Aki is more than a headline, it is a flashpoint in ongoing debates about wealth, friendship and visibility in Nigeria’s entertainment and entrepreneurial ecosystem.
celebrity radar - gossips
Spiritual Reality: Wicked People Are Possessed by Wicked Spirits — Dr. Christian Okafor
Spiritual Reality: Wicked People Are
Possessed by Wicked Spirits — Dr. Christian Okafor
…..“You don’t need to offend them before they attack you.”
…..“Your only true help comes from God.”
Demons are strategic and calculating. They detect threats quickly and position themselves to resist any power that may expose or overpower them.
According to the Generational Prophet and Senior Pastor of Grace Nation Global, Christian Okafor, spiritual intelligence operates both in light and in darkness—and believers must understand this reality.
Dr. Okafor delivered this message on Thursday, February 19, 2026, during the midweek Prophetic, Healing, Deliverance and Solutions Service (PHDS) held at the international headquarters of Grace Nation Worldwide in Ojodu Berger, Lagos, Nigeria.
The Operations of Demons
Teaching on the subject “Spiritual Reality” with the subtitle “Operations of Demons,” the Man of God explained that when demons possess individuals, their behavior changes. Such people may attack, bully, or resist those sent by God to help them, unknowingly rejecting divine assistance and prolonging their struggles.
“You don’t need to offend a demon before it attacks you,” he said. “What you carry is enough to provoke opposition. The greater your potential, the greater the battle.”
Dr. Okafor noted that many believers misinterpret battles as signs that God has abandoned them. However, he explained that some battles are permitted for growth, training, and divine glorification.
According to him, God may allow certain confrontations so that believers understand spiritual warfare and emerge stronger.
“Some battles are necessary,” he emphasized. “They push you into your turning point.”
He further stated that God does not respond to lies, blackmail, or bullying. He responds to His Word. Therefore, opposition is not proof of God’s absence, but often evidence of destiny at work.
The Weapon Against Demonic Attacks
Addressing solutions, Dr. Okafor described prayer as the strongest weapon against satanic operations.
“Prayer is the license that invites God into your battles,” he declared. “God does not intrude—He responds to invitation.”
According to the Apostle of Altars, understanding the principles and discipline of prayer enables believers to receive divine strategies for overcoming demonic resistance. Without prayer, he warned, spiritual help cannot be activated.
“You cannot receive help without God,” he concluded. “And you cannot engage God without prayer.”
Manifestations at the Service
The midweek gathering was marked by a strong move of the Spirit, with testimonies of deliverance, miracles, restoration, and solutions to various challenges presented before God. Several individuals reportedly committed their lives to Christ during the service.
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