The cryptocurrency market is lacking positive catalysts in the near term, Wall Street bank JPMorgan (JPM) said in a report Wednesday.

The correction in crypto markets in recent months has seen both bitcoin (BTC) and ether (ETH) futures near backwardation, which is a sign of lower demand, the report said. Backwardation occurs when the spot price of an asset is higher than the price trading in the futures market.

"This is a negative development and indicative of demand weakness by those institutional investors that use regulated CME futures contracts to gain exposure into these two cryptocurrencies," analysts led Nikolaos Panigirtzoglou wrote.

If demand for bitcoin and ether futures is healthy, the futures cost more than the spot price, and the curve is said to be in contango, the bank noted.

When demand slows and price expectations soften, the futures curve moves towards backwardation, the bank added.

This weakness in demand could be due to a number of reasons.

Positive crypto initiatives by Trump's new administration are more likely to kick in during the second half of the year, the bank said, and this means institutional investors are likely taking profits due to a lack of short-term catalysts.

Lower demand from systematic and momentum-driven funds, such as CTAs, has also affected bitcoin and ether futures, JPMorgan added.

[markets businessinsider]

Black History Month, being observed this February in the United States and many other countries around the world, including Nigeria, affords one the appropriate opportunity to share some thoughts on the rather consequential subject of systemic racism – racism of the kind that is not ad hoc, but seems built into the system itself. The irony of it, though, is that the persistence of racism in many of the concerned countries and situations is not necessarily for want of, but in spite of, efforts to eradicate it! In fact, one of the more baffling, and undoubtedly frustrating, realities confronting people and organizations working in this area has been the seemingly “die hard” nature of the problem, its resilience and persistence despite quite considerable effort over the years to eradicate it. It may actually be recalled in this context that jolted, and no doubt equally revolted, by the Nazi race theories and atrocities of the Second World War, the post-war world reacted, particularly in the West, by deploying considerable effort and resources into the fight to combat racism and racial discrimination, spearheading, for example, adoption by the United Nations of the landmark Universal Declaration Of Human Rights(1948) expressly condemning racism and prohibiting the adoption by Member States of racially discriminatory laws.

Yet, if we take the example of the United States, the truth, as recognized by President Biden himself upon his election in 2020, is that, despite the undeniable progress that has been made, especially in the wake of the great Civil Rights Movement of the 1960s and 70s, there remains an underlying systemic racism in society that refuses to go away and so continues to manifest itself in various ways on the ground: the George Floyd and George Floyd-type incidents, the near legitimization and “mainstreaming” of “white supremacy” ideologies and movements, showcased in the January 6th Capitol insurrection. In Europe, the mounting anti-racism campaigns by football authorities, particularly the FA in England, and the numerous racist avowals and incidents connected with ongoing anti-immigration protests speak to the same fact.

So, what is going on here and why? “Why have all the efforts over many decades failed to defeat or excise this social evil?” My book OF BLACK SERVITUDE WITHOUT SLAVERY, The Unspoken Politics Of The English Language, in proffering a totally new approach to dealing with the systemic racism problem, addresses this particular question by pointing out that the difficulty so far lies in the nature of the problem and the efforts directed at it. I argue, inter alia, that racism, as people encounter it, is an outward expression of the perpetrator’s racial bias mindset, which no amount of clamping down on discriminatory acts, whether in jobs, schools, housing or social interactions, such as has been the case hitherto, can effectively address: only actions targeting the mindset can be relevant.

In order to effectively combat a negative mindset, one must first identify its origin and sustenance – its well-spring, as it were – and then tackle the problem at its roots. The book identifies language as a major repository, as well as purveyor, of racial bias, which then goes on, whether intended or not, to create a racial bias mindset in its users. Using the English language, the world’s dominant and virtually only global language, to illustrate this thesis, I demonstrate that embedded in it is a systemic denigration of “blackness” and corresponding glorification of “whiteness”, which is exemplified by expressions such as blacklist, black sheep, painting someone black, for example, and white list, white knight, white lie, and more. There is, in effect, a “blackness of bad/whiteness of good, badness of black/goodness of white” narrative that runs through the language – and necessarily all thinking in that language – in which “black” basically denotes “bad” and “white”, in turn, denotes “good”. Such a narrative, imbibed over a period (often from birth), and reinforced by everyday usage, must undoubtedly create in users of the language a mindset that is conditioned, subconsciously at least, to shun “black” things while instinctively embracing things designated as “white”.

In such a scenario a black person becomes routinely subsumed – subconsciously or otherwise – into the general category of “black”, and, therefore, “bad”, things, which, in turn, triggers the preprogrammed negative reaction in the other person, regardless of conscious intentions, leaving it to that person’s conscious mind, if aware and so inclined, to make the correction by separating the black person from the general category of “bad” “black” things. It actually may well be that the psychological inability to make this separation accounts for much existing racist disposition.

The white person, too, being also an integral part of the same conditioning system, and indeed its main beneficiary, would likewise get subsumed, subconsciously or otherwise, but this time into the category of “good” things, which, in turn, implicitly “entitles” him or her to favorable or “sympathetic” treatment – so much so that it may indeed form the psychological underpinning to the long-observed phenomenon of decidedly unequal treatment of black and white persons in law enforcement, not just by the police and prison authorities, but often even by judges.

Considering the processes outlined above, one can well perceive racism of the kind under discussion as a kind of social system into which people are indoctrinated by fate (i.e. birth) or by circumstance! As such, the people involved may actually be seen as being themselves entrapped by the system!

Coming now to solutions, it becomes apparent from the foregoing analysis that the key to resolving the systemic racism problem is the elimination of the “blackness of bad/whiteness of good” narrative and its related mindset. Effective action in that regard would be to delink the race-designating terms of “black” and “white” from all qualitative assessment functions in the language and, so, from figurative expressions such as those noted above.  Substituting other terms not associated with racial designations for these two terms would render these terms value-neutral and, so, mindset irrelevant, while also ending their unintended racial bias reinforcement effect as part of everyday conversations.  A random example of such substitution, strictly as illustration, could be something like dronche, for “black” and freen, for “white”, giving us expressions like “dronche sheep” and “dronche list”, in the case of “black”, and, in the case of “white”, “freen knight”, and “freen magic”, and so on. Of course, whatever new substitute terms are chosen will at first appear strange, unfamiliar and maybe even nonsensical, having by necessity no intrinsic meaning; however, with time and the requisite will these should all become normalized and, more importantly, imbued with the meanings we have chosen for them, just like other invented new terms in the language: “Ms.”, “phishing”, “meme” and others, being examples.

The idea here is that upon successful implementation of such substitution, it would not be long before the older generation, no longer functioning in the “bad is black, good is white” milieu and mindset, would have this connection erased from its consciousness, while for the new-born generation no such linkage would have even existed in their consciousness, thereby leading us, in principle, to a complete and permanent solution of the systemic racism problem!

Conclusion and Notable Points

While no one can say for certain that successful implementation of the solution envisaged here would in and of itself solve all of society’s racism problem, its singular importance lies, nevertheless, in the fact that no fundamental or enduring resolution of the problem seems possible without addressing the underlying mindset issue that the solution targets! 

The great merit of the solution proposed here, as argued above, is that it aims to be a real and permanent solution of the problem, rather than a palliative to douse the current crisis, as often happens.  Furthermore, this is a solution that will be welcomed by all involved: no longer does the black person have to endure the psychological humiliation and stigma of sharing “labels” with everything bad, ugly and evil, while the white person will be relieved of the awkwardness of being compelled, for want of alternatives, to use terminology which they can sense is demeaning to the other person. Adding to the merits of this solution is the fact that: it costs next-to-nothing to implement, unlike other “social justice” undertakings!

It is important to note once again that the focus in this analysis on the English language is merely strategic: as the dominant international communications medium, it can do – and no doubt has  already done – serious damage, spreading the narrative and mindset globally; it can, on the other hand, likewise positively transmit any correction through a large swathe of the global population. Moreover, any reform of English would exert enormous pressure for change on the other languages. This well-known French adage, for example, speaks volumes and requires no commentary: “La diable n’est pas aussi noir qu’ on le dit!”, translating essentially as “The devil is not as black as he is made out to be!”  #BADISNOTBLACK&VICEVERSA

•Dr. Okali, a former United Nations Assistant Secretary-General, is Founder-Chairman, Society for the Elimination of Racism In All Language (SERIAL) 

The events at the Lagos State House of Assembly on February 17, 2025, were more than just another political crisis; they were a moment of dangerous miscalculation that put both the reputation of the Department of State Services (DSS) and the lives of its field operatives at unnecessary risk. As a psychologist and writer, I am not here to take sides but to raise an important concern—one that should trouble even the most hardened defenders of the DSS. The viral video footage does not lie. It captured DSS operatives in the kind of physically vulnerable, life-threatening situation that an elite force should never find itself in. These were not inexperienced recruits; they were trained officers of a national security agency who suddenly found themselves struggling for breath, pinned between determined lawmakers and legislative workers pushing forward against them. Their faces—half-covered by helmets, masks soaked in sweat—showed visible distress. Their bodies were strained under the pressure of the confrontation. And as the tide of lawmakers pressed forward, those officers were seconds away from being completely overpowered.

And so, I ask, what if one of them had not made it out?

What if a DSS officer had collapsed from exhaustion, suffocated in the heat of the struggle?

What if a law enforcement operative had suffered serious injury from the physical force of the crowd?

What if the lawmakers, in the heat of frustration, had retaliated more aggressively?

What if an officer, under extreme stress, had reacted with force that escalated into violence?

This is not speculation. This is exactly what was set into motion on that day. This was not a strategic operation; this was a dangerous misjudgment, one that could have turned fatal within seconds. And that should concern the DSS more than anything else. Because while politicians play their games, it is always the men on the ground—the uniformed officers—who bear the real consequences.

The official statement from the Lagos Assembly, signed by Ogundipe Olukayode, Chairman of the House Committee on Information, Strategy, and Security, confirmed what Nigerians already knew:

Yes, the DSS was invited to provide security—but not to invade the chamber.

Yes, the Clerk requested their presence—but not to seal the Speaker’s office.

Yes, there were security concerns—but on that day, the DSS itself became the biggest threat.

How did an elite security force—an agency feared for its intelligence, operational precision, and enforcement power—allow itself to be turned into the story? The DSS is supposed to neutralize threats before they escalate, yet this time, it became the crisis. Instead of being the force that ensured peace, DSS operatives were physically caught in a power struggle, outnumbered, overwhelmed, and left struggling against the force of a determined Assembly. This is not how an elite force should operate.

There are bigger questions DSS leadership must now answer. Who made the call to position these officers in such a confrontational stance? Who in DSS believed that physically blocking lawmakers from their own chamber would not lead to open resistance? Who in command failed to anticipate that emotions would flare, that the situation would escalate, and that the officers placed at the doors could be trapped in a physical struggle that endangered their own safety?

If the DSS’s true mission was security enforcement, how did it end up in direct physical conflict with lawmakers and Assembly workers? If DSS officers were meant to prevent instability, why were they the ones visibly struggling, unable to maintain control, and ultimately being forced out?

Because the truth is, this was not a strategic operation. This was a tactical failure.

And what was achieved? Despite deploying DSS operatives, sealing the Speaker’s office, blocking the chamber doors, and physically engaging with lawmakers—nothing was stopped.

The Speaker, Mojisola Meranda, still presided.

The lawmakers still convened.

The Assembly still held its session.

Democracy still went on.

And DSS? What did they gain?

If the goal was to stop the session, it failed.

If the goal was to scare the lawmakers, it failed.

If the goal was to prove dominance, it failed.

Instead, DSS officers were physically overpowered, outnumbered, and exhausted, forced to retreat from a battle they should never have been sent into. What was the real objective here? And at what cost

DSS is not a riot squad. DSS is not a political enforcement agency. DSS is not a tool for individual interests. It is an elite security force, designed to protect national stability, not to be thrown into politically motivated conflicts that leave its own officers gasping for air at the doors of an Assembly building.

This incident should serve as a serious warning. It was not just a failure of tactics—it was a failure of leadership within DSS. It was a reckless deployment of operatives, without a clear strategy to ensure their success or safety. The officers involved were placed in harm’s way, while those who issued the orders watched from a distance.

This time, the officers walked away.

But next time?

Next time, the outcome may not be so fortunate.

Next time, someone may not survive the encounter.

Next time, no politician, no government official, and no DSS commander will take responsibility.

And that is why DSS must rethink its approach now. Not because of political pressure. Not because of public scrutiny. But because the lives of its own officers are at stake. No security force should be put in a position where it becomes the crisis instead of the solution. No law enforcement agent should be forced into a battle they were never meant to fight.

DSS must ask itself: Is this what we have become? Are we an agency that strategically ensures security, or one that blindly walks into chaos without a plan?

The time to rethink tactics is now. Because next time, the cost may be irreversible.

The President of ECK Foundation, a Non-Governmental Organisation (NGO), Dr. Emeka Kalu, has stated that former Vice President Alhaji Atiku Abubakar has the capacity to rescue Nigeria from its current economic crisis if elected president in 2027.

In a statement issued in Lagos, Kalu lamented the country’s deteriorating economy, describing Atiku as a “rational game-changer” with an impressive track record in leadership. He asserted that Atiku possesses the vision and experience to prevent the nation’s economy from collapsing entirely.

Kalu criticized the mismanagement of Nigeria’s natural resources, emphasizing the need to explore and maximize them for economic growth. He urged both voters and political leaders to rally behind Atiku to bring about the necessary reforms.

He also called on Nigerians to stop supporting corrupt politicians for personal gain, advocating instead for “selfless, capable, trusted, and competent hands” like Atiku to restore the country to its former economic strength.

“The sorry state of our economy should remind all Nigerians that we are under a failed leadership. The rising hunger, high cost of living, naira depreciation, insecurity, nepotism, treasury looting, tariff hikes, and unemployment have set us back significantly. The only hope for recovery lies in supporting competent political leadership in 2027,” Kalu said.

According to him, governing a nation of over 200 million people requires intelligence, character, sound education, and a detribalized mindset. He maintained that Atiku possesses these qualities and is best suited to revive Nigeria’s economy.

Kalu expressed regret that electoral malpractices had repeatedly denied Atiku the opportunity to lead the country. He recalled Atiku’s tenure as Vice President, highlighting his contributions to economic liberalization, trade investments, job creation, and other significant reforms.

Furthermore, he criticized the ruling All Progressives Congress (APC) for its lack of transparency in handling the fuel subsidy regime, noting that this was one of many economic challenges the country faces.

“With Atiku Abubakar in charge, Nigeria will experience rapid economic progress,” Kalu asserted. “This is not a campaign or political propaganda, but a statement of facts whose impact cannot be erased.”

[Opinion Nigeria]

Nigeria’s independence in 1960 provided a momentous occasion for the country to pause, re-evaluate its excision from Britain’s clogged colonial policy and make a dash for a decorated prosperous future. The dash wash frighteningly and forcefully promising until the military abandoned their barracks to truncate Nigeria’s future between 1966 and 1970 and for long periods after that. Those wounds have simply refused to heal.

Gratefully, Nigeria returned to democracy in 1999. With the reinstatement of democracy, elections returned as did institutions of government. The executive, judiciary, and legislature have been up and running since then.

At the federal level, it is the national assembly that makes laws. The state houses of assembly take over that task in the states.

However, to say that since 1999, Nigerians have been repeatedly embarrassed with the lack of class and composure shown by many of those who represent them at the federal and state legislature is to put it mildly. Again and again, the supposed representatives of the people have shown by their words and conduct that they are not worth their salt, many times of course, with the executive shamefully compelling them or conniving with them.

The latest assembly that is more akin to a lunatic asylum is the Lagos State House of Assembly. Weeks ago, the long-standing and grandstanding speaker, Mudashiru Obasa, was removed and replaced by Mojisola Meranda . But he has refused to back down or go down quietly, insisting that his removal was flawed and he deserves reinstatement. The fiasco has unsettled the assembly with security personnel moving in to lock out the legislators and their staff some days ago.

What a slap to the face of the people of Lagos State. It is a big slight to President Bola Ahmed Tinubu who is showing impregnable fortitude in trying to fix Nigeria’s problems in Abuja that legislators in his home state are indulging their whims and caprices and are instead behaving like spoilt school kids.

This embarrassment that is made in Lagos is coming very early in the year, but Nigerians have been there many times before. Rivers State was the last to provide such embarrassing theater. Legislators in the Benue State House of Assembly are not exactly at one another’s necks, but their attempt to remove the state chief judge is one of such extensive theatrics that can only come from an overbearing and overexcited state house of Assembly.

It Is in the best interest of Nigerians that those elected to represent them at any level show themselves as people worthy to bear such sacred responsibilities. This is key. They must show themselves consistently as people of excellent character.

No matter the temptation, they must refuse to reduce themselves to the level of touts and truants, which would cast great indignity on their office as legislators.

As for the overbearing executives who lean too hard on the legislature to make it impossible for them to work freely, it is important to remember that separation of powers is the hallmark of the constitutional democracy Nigeria is trying to operate.

It is not about one person. It goes beyond anybody and extends to the health of democracy in Nigeria. If the institutions which underpin democracy in Nigeria perform optimally, the country will be in the best place possible eventually.

It is often said that time heals wounds, but history has shown us that time also demands accountability. After decades of evasion, former military president General Ibrahim Badamasi Babangida (IBB) has finally nurtured his wounded conscience with the truth regarding the annulment of the June 12, 1993, presidential election. 

Just as Uthman Dan Fodio once recommended that “conscience is an open wound, only truth can heal it,” the former military president has finally tended to his wounded conscience by admitting the truth about the annulment of the June 12, 1993, presidential election in his book. For decades, the ghost of that historic injustice has haunted Nigeria’s democratic journey, but by coming clean, IBB has, at least, acknowledged the weight of his actions. While his confession does not erase the past, it aligns with Dan Fodio’s wisdom, which says only truth has the power to bring closure to history’s most painful wounds.

Though his somewhat confession has come late, long after many key players in that unfortunate monkeyshines have passed on, it still holds significance for the sake of posterity.

For years, Nigerians have yearned for an honest acknowledgment of the circumstances surrounding the annulment of what is still widely regarded as Nigeria’s freest and fairest election. The event that denied Chief Moshood Kashimawo Olawale (MKO) Abiola his legitimate mandate remains a dark stain on our democratic journey. The excuses and justifications provided over the years never satisfied the thirst for truth. Now, IBB’s belated confession, though not a complete absolution of his role, serves as a historical document that at least gives Nigerians some clarity.

The question on the lips of many Nigerians is: “Why now?” “Why did IBB choose to reveal his truth at a time when the principal victims of his actions are no longer alive to react?” MKO Abiola, the man whose mandate was stolen, died under suspicious circumstances while still demanding justice. His wife, Kudirat Abiola, was assassinated in the course of the struggle. Other activists and journalists who fought relentlessly for the reversal of the annulment either suffered exile, imprisonment, or lost their lives. The Nigerian people endured political repression, economic hardship, and a prolonged transition to democracy. The confession, though welcomed, is coming at a time when justice can no longer be served to those directly affected.

Yet, it is better late than never. By admitting the truth, IBB has at least given Nigerians something tangible to hold onto. The significance of this confession cannot be overlooked. It reinforces the fact that Nigeria’s democratic struggle was not in vain. It also serves as a reminder that no matter how long it takes, the truth has a way of emerging. For those who doubted the sincerity of the opposition to the annulment, this confession is a validation that history had judged rightly.

In fact, IBB’s public acknowledgment should serve as a moral benchmark for others who have, at different political dispensations, contributed to Nigeria’s downfall. Nigeria has suffered repeated betrayals from individuals entrusted with power and responsibility. From electoral manipulations to corruption and governance failures, the country has been plagued by leaders who, like IBB, made self-serving decisions at the expense of the people.

Where are those who orchestrated the economic policies that plunged millions into poverty? Where are the architects of failed government programs that siphoned public funds while leaving citizens in suffering? Where are the political leaders who used ethnic and religious divisions to gain power, only to abandon the people when it mattered most? These individuals, like IBB, owe Nigerians the truth.

Confession is not just about admitting wrongdoing; it is about setting the record straight and giving future generations the opportunity to learn from past mistakes. Those who have played key roles in Nigeria’s political and economic sabotage should follow IBB’s example and admit their misdeeds. This is not about public shaming but about fostering a culture of answerability. Nigeria cannot move forward if its history remains shrouded in lies and deliberate misinformation.

Without a doubt, there is an urgent need for institutional truth-telling. Many countries that have suffered similar political betrayals have implemented truth and reconciliation commissions. South Africa’s post-apartheid Truth and Reconciliation Commission provided a platform for perpetrators of political crimes to confess their actions and seek forgiveness. Nigeria has never had such a structured approach to addressing its past.

Imagine a situation where past military rulers, corrupt politicians, and economic saboteurs come forward to acknowledge their wrongdoings. Imagine how much healing it would bring if those who orchestrated electoral frauds admitted their roles and sought national forgiveness. Such a process would not erase the damage done, but it would give Nigeria a stronger foundation for moving forward.

In fact, IBB’s confession has reignited discussions on the role of citizens in holding leaders accountable. While it is easy to blame those in power, Nigerians must also reflect on how they have enabled unpatriotic leadership. Too often, the electorate has been complicit in electing or tolerating corrupt politicians. The culture of political sycophancy, where individuals support leaders based on ethnic or religious affiliations rather than competence, has been detrimental to the nation’s progress.

The lessons from June 12 should go beyond IBB’s confession. Nigerians must demand better governance, transparency, and integrity from their leaders. If we do not hold our leaders accountable, history will continue to repeat itself. Confessions are useful, but they should lead to systemic change.

Beyond individual confessions, Nigeria must explore avenues for restorative justice. While some might argue that IBB’s confession is enough, others believe that justice must go beyond mere words. Should there be reparations for the damage caused by the annulment of June 12? Should there be legal consequences for historical political crimes? These are tough but necessary questions that Nigerians must begin to ask.

Furthermore, the government should take steps to formally document the history of June 12 in school curricula, civic education, and national discourse. We must not allow future generations to be misinformed or manipulated about the true events of the past. If we are to build a stronger democracy, we must learn from our past mistakes and ensure that the mistakes of history are never repeated.

IBB’s delayed confession about the June 12 annulment is not enough to erase the pain and damage caused, but it is still a step in the right direction. It is an acknowledgment that the Nigerian people were wronged, and that truth, no matter how long it takes, will always surface. Other political actors who have betrayed Nigeria in one way or another should take a cue from IBB and come forward with their own confessions.

For the sake of posterity, Nigeria must embrace truth as a necessary component of nation-building. Without honesty about our past, we cannot chart a clear course for the future. As we remember June 12 and its significance, let us also remember that democracy thrives on accountability. The journey to a better Nigeria begins with a commitment to truth, no matter how uncomfortable it may be. The time for silence and denial is over, Nigeria deserves the truth, and it deserves it now.

The chairman of Heirs Holdings, Mr Tony Elumelu, has stated that Nigeria needed increased oil production to fund the country’s economic diversification and development.

Elumelu stated this on Thursday at the Nigeria Petroleum Industry Leadership Discourse in Abuja, highlighting the crucial role of oil revenues in driving industrialisation, energy security, and infrastructural growth.

The discourse, themed “Nigeria’s Oil Production Growth Roadmap: Acceleration Imperatives”, was convened under the umbrella of Heirs Energies, a subsidiary of Heirs Holdings, to bring together industry stakeholders and policymakers to strategise on expanding oil production.

Elumelu, who also serves as the chairman of the United Bank for Africa (UBA) and Transcorp Group, emphasised that while there is a global dialogue about energy transition, Africa’s foremost concern should be energy security.

He highlighted the necessity for substantial investment in oil and gas to fuel industries, support businesses, and guarantee electricity access for both homes and enterprises.

While acknowledging the growth in oil production under President Bola Tinubu’s administration, he noted that Nigeria was still underperforming compared to its OPEC quota.

“You know, under Buhari’s administration, we dropped less than 1 million barrels. We are happy that under the current administration, in general, we produce 1.8 million barrels of oil a day. But we are not satisfied with that figure.

“We want to take it to over 2 million. Because we know that we need oil money to diversify Nigeria away from oil. And we need to have the money to help develop our country,” he said.

Elumelu also emphasised the significance of boosting oil production to generate foreign exchange, stabilize the naira, and enhance national security.

He noted that boosting crude oil output would provide the financial resources required for industrialisation and infrastructure development, particularly in sectors such as power generation and manufacturing.

As vhairman of Transcorp Group, Elumelu revealed that Transcorp Power, Nigeria’s leading power generation company, currently has a capacity of 2,000 megawatts but is unable to operate at full capacity due to gas supply constraints.

Elumelu also called for stronger collaboration between government, industry players, and investors to achieve the target of increasing oil production to 2.5–2.7 million barrels per day.

He noted that the policy reforms and executive orders signed by President Tinubu in the past 12 months have improved investor confidence, security, and the overall business climate in the oil sector.

Elumelu disclosed that when Heirs Energies acquired OML 17 from Shell, production was 21,000 barrels per day. It has since risen to 53,000 barrels per day, and the company aims for 100,000 barrels per day.

Elumelu expressed his belief that Nigeria could exceed 2 million barrels per day if all stakeholders work together on production expansion, infrastructure improvement, and security of oil facilities.

While Heirs Energies plans to integrate downstream operations in the future, its primary focus remains on increasing crude oil production. Access to this raw material facilitates the transition to refining, fertilizers, and petrochemicals.

[Leadership]

The reigning African Footballer of the Year and Atalanta FC of Italy forward, Ademola Lookman, will now look to dethrone the incumbent holder, Victor Osimhen, for the highest honour of Nigeria Pitch Awards.

The News Agency of Nigeria (NAN) reports that the organisers of the Nigeria Pitch Awards on Thursday at the Bon Hotels, Sobo Arobiodu, Ikeja, unveiled the nominees for the 2025 edition of the awards which has 18 categories.

In the highest category of the Pitch Awards, which is “The King of the Pitch”, Super Eagles striker, Osimhen, will face a stiff competition from his compatriot, Lookman, who was recently crowned as the “African Footballer of the Year”.

Osimhen, the Galatasaray FC of Turkey hitman, is the current holder of the “King of the Pitch” award.

The Super Eagles forward, Osimhen, had made history at the 10th anniversary in 2024 by winning both the “Striker of the Year” and “King of the Pitch” awards for the third consecutive year at the 2024 edition.

Osimhen’s achievement at the 10th anniversary of the Nigeria Pitch Awards made him the first player in the history of the awards to secure a three times King of the Pitch in a row.

For the 2025 edition, Osimhen is expected to face a strong opposition from the the stand-in captain of the Super Eagles, Williams Troost Ekong.

Shina Phillips, the organiser of the awards, said on Thursday that the awards would not let down its guard in protecting the integrity and transparency of the award.

In the ceremony, the Director of Communication, Nigeria Football Federation (NFF), Ademola Olajide reeled out the list of the nominees had been picked in all 18 award categories.

The award categories include Goalkeeper of the Year, Defender of the Year, Midfielder of the Year, Striker of the Year, Queen of the Pitch, King of the Pitch, Sam Okwaraji Award, Football Pitch, Football-Friendly Governor, Corporate Sponsor, alongside several honours for media representatives.

For the Goalkeeper of the Year: Maduka Okoye (Undize Italy); Stanley Nwabali (Chippa United, South Africa) and Kayode Bankole (Remo Stars, Nigeria) got the nominations

Defender of the Year: Calvin Bassey (Fulham FC, England); Ola Aina (Nottingham Forest England) and Williams Troost Ekong (Al-Kholood FC, Saudi Arabia)

Midfielder of the Year: Wilfred Ndidi (Leicester City, England); Alex Iwobi (Fulham FC, England) and Frank Onyeka (FC Augsburg Germany)

Striker of the Year: Victor Osimhen (Galatasaray, Turkey); Victor Boniface (Bayer Leverkusen, Germany) and Ademola Lookman (Atalanta FC, Italy).

Team of the Year: Rangers International FC; Edo Queens FC and Remo Stars.

Coach of the Year: Daniel Ogunmodede (Remo Stars); Moses Adukwu (Edo Queens FC); Fidelis Ilechukwu (Rangers International FC).

Sam Okwaraji Award: Segun Odegbami former Green Eagles captain; Ahmed Musa; Kunle Soname (Proprietor, Remo Stars).

State With The Best Grassroots Football Development Programme: Edo State; Delta State; Lagos State

Football Pitch of the Year: Mobolaji Johnson Arena, Lagos; Remo Stars Stadium, Ikenne; Godswill Akpabio Stadium, Uyo

Football-Friendly Governor of the Year: His Excellency Umo Eno (Akwa Ibom State); His Excellency Babajide Sanwo-Olu (Lagos State); His Excellency Godwin Obaseki (former Governor of Edo State)

Corporate Sponsor of Football: Bet9ja (Sport Betting); GTI (Financial Services); MTN (Telecom)

Sportsmanship Award: Hon. Kunle Soname (Proprietor, Remo Stars); George Aluo (Chairman, Nigeria National League (NNL)); Ahmed Musa (Super Eagles captain).

Football Journalist of the Year (Print): Charles Diya (New Telegraph); Johnny Edward (The Nation Newspapers); Abiodun Adewale (Punch).

Football Journalist of the Year (TV): Mozez Praiz (SuperSport); Cecilia Omorogbe (Channels TV); Blessing Nwosu (Silverbird TV).

Football Journalist of the Year (Radio): Olawale Adigun (Mainland FM); Micheal Obasi (Bond FM); Chima Nnoli (Nija Info FM)

Football Journalist of the Year (Online): Niyi Busari (BSN Sports); Samuel Ahmadu; Kunle Solaja (Sportsville).

Queen of the Pitch: Rasheedat Ajibade (Atletico de Madrid Femenino Spain); Chiamaka Nnadozie (Paris FC, France); Asisat Oshoala (Bay FC U.S)

King of the Pitch: Ademola Lookman (Atalanta FC, Italy); Victor Osimhen (Galatasaray SC, Turkey); Wlliams Troost Ekong (Al-Kholood FC, Saudi Arabia).

(NAN)

The draw for this season’s UEFA Champions League Round of 16 has been conducted on Friday.

Current holders Real Madrid will take on rivals Atletico Madrid in the pick of the bunch.

There will also be an all-Bundesliga clash between Bayern Munich and Bayer Leverkusen.

Arsenal have been paired against PSV, while Liverpool take on Paris Saint-Germain.

The ties for the round of 16 will be played on during the weeks of March 4 and March 5.

The return legs are scheduled for March 11 and March 12.

FULL FIXTURES:

Club Brugge vs Aston Villa

Borussia Dortmund vs Lille

Real Madrid vs Atletico Madrid

Bayern Munich vs Bayer Leverkusen

PSV vs Arsenal

Feyenoord vs Inter Milan

PSG vs Liverpool

Benfica vs Barcelona

[DailyPost]