Business
Accugas Grants University Scholarships To 50 Akwa-Cross Students

Accugas Limited, the midstream subsidiary of Savannah Energy, has granted full university education scholarships to the second cohort of 50 students from Akwa Ibom and Cross River States through the Savannah Energy Education and Internship Training (“SEE-IT”).
The scholarship package was handed out at a ceremony in Uyo, Akwa Ibom State, the company said in a statement.
Managing Director, Savannah Energy, Nigeria, Pade Durotoye, said, “The SEE-IT programme is something that brings us great delight. We are very proud of what we’ve been able to achieve in the last two years. The programme benefits the education and economy of Akwa Ibom and Cross River States, Nigeria, and Africa as a whole. We believe very strongly in the power of people.
“We believe that education is what unlocks our potential. And we believe that there are very many talented and capable people whose circumstances in life have made it very hard for them to achieve their full potential. This is why we are doing this. We believe very strongly that by making education accessible to people who might have missed it, we are transforming not just the lives of the people and their immediate families, but the entire economy at large. This is more than just education. This is transformation.”
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It was gathered that the scholarship package covers each beneficiary’s school fees, accommodation costs, study materials, and living costs for their entire tertiary education, whether public or private.
In addition, the scholarship beneficiaries would receive specialised training from leadership and peak performance consultants throughout the duration of the scholarships to help support them in achieving great results and to better prepare them for life after university.
Upon graduation, all beneficiaries will also be offered an opportunity for an internship at Savannah, where they will gain hands-on experience in a world-class environment.
The SEE-IT programme was launched in 2023 to enhance access to quality education in Akwa Ibom and Cross Rivers States. The programme was conceived to help ensure that brilliant but indigent students from the two states achieve their dreams of quality university education irrespective of their chosen field of study, thereby contributing to the social and economic development of the states and Nigeria.
Last year, the programme was extended with the addition of Environmental Awareness Clubs in 20 public secondary schools in Akwa Ibom State, aimed at inspiring students on their career choices and instilling awareness about sustainable environmental practices. The club activities commenced in June and culminated in a quiz competition in August. The top five winners of the quiz competition received cash prizes and automatic scholarships for the next academic year.
On the development, Akwa Ibom State Governor, Umo Bassey Eno, said, “Let me specially commend Savannah Energy through Accugas Limited for not only doing business in Akwa Ibom State but also giving back in a way that truly matters through education.
“The SEE-IT Scholarship Programme is a laudable initiative that will change lives. And I must say, this is the kind of collaboration we welcome in our state. That is why I deeply appreciate Savannah for its SEE-IT Scholarship Programme, which is sponsoring 50 students from Akwa Ibom and Cross River States, offering internships, and establishing environmental awareness clubs in schools in Akwa Ibom State. This is Corporate Social Responsibility at its best. I urge other well-meaning individuals, corporate bodies, and organisations operating in Akwa Ibom State to emulate this noble gesture by investing in the future of our children through education and skills development. Education remains the cornerstone of our administration’s vision, as encapsulated in our blueprints, the A.R.I.S.E. Agenda.”
On his part, Head of Stakeholder Relations and Regional Manager, South East, Savannah Energy, Nigeria, Nkoyo Etuk, said, “Education is an important part of Savannah’s sustainability strategy, where our first pillar focuses on promoting socio-economic prosperity within our host countries of operation in Africa. This pillar is aligned with United Nations Sustainable Development Goal 4 – Quality Education – helping to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all. The SEE-IT programme is an example of how we are contributing to the development of our host communities in Nigeria. The 50 scholarship beneficiaries were selected from 1,481 applications received from recently admitted students of Akwa Ibom and Cross Rivers States origin. These students underwent rigorous, transparent, and merit-based screening process, having sat through a computer-based test and an interview session, which was led by university professors. We are delighted to be making these awards to the next generation of students.”
Business
Trade Tensions Hit Nokia As Q1 Ends In €68M Loss

Nokia has reported a net loss of €68 million for the first quarter of 2025, a sharp decline from the €438 million profit recorded during the same period last year.
The Finnish telecoms equipment maker attributed the downturn to global trade disruptions and recently imposed tariffs by the United States.
The company’s net sales dropped slightly to €4.4 billion, down by one percent year-on-year.
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Tariff-related challenges were highlighted by Nokia’s President and CEO, Justin Hotard, who acknowledged the broader economic pressures affecting the industry.
“We are not immune to the rapidly evolving global trade landscape,” Hotard stated. “However, based on early customer feedback, I believe our markets should prove to be relatively resilient.”
He also noted the potential short-term financial impact, saying, “Based on what we see today, we currently expect a EUR 20 to 30 million impact on our comparable operating profit in the second quarter from the current tariffs.”
Earlier this month, U.S. President Donald Trump introduced a 10 percent tariff on global imports, while pausing plans for steeper duties, including a proposed 20 percent levy on products from the European Union.
Despite the quarterly setback, Nokia expressed confidence in its growth prospects.
The company is looking to its Network Infrastructure, Cloud and Network Services, and Mobile Networks divisions to drive sales in the year ahead.
In a sign of continued momentum in the mobile segment, Nokia also announced on Thursday that it had extended its contract with T-Mobile US.
The company said it is continuing “to see positive signs of stabilization” in Mobile Networks.
Business
Marketers In Anguish, As Dangote, NNPC Ltd War Drag Price To N880/litre

The pull of market forces which moved the hands of the Nigerian National Petroleum Company Limited (NNPC Ltd) to reduce the price of Premium Motor Spirit (petrol) to N880 per litre in Lagos and N935 in Abuja appears to be a source of torture to independent markets.
Biztellers reports that the latest price review on Easter Monday saw NNPC retail outlets in Lagos drop from N925 to N880, while those in Abuja adjusted from N950 to N935.
The NNPC Ltd’s price reduction came barely a week after the Dangote Refinery lowered its ex-depot price from N865 to N835 per litre.
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In addition, the $20bn refinery also directed its partners like MRS, Heyden, and Ardova to sell a litre of petrol at the rate of N890 instead of N920 in Lagos, N900 in the South West, N910 in the South-South, and N920 in the North East.
Consumers can smile because with the reaction, the NNPC Ltd’s new price in Lagos is N10 lower than what the Dangote Refinery is selling at, which might lead to another reaction, as the price war between the two companies.
Though some NNPC Ltd’s retail outlets were observed selling at the old rate in Lagos, it was gathered that they were given the liberty to exhaust old stock before adjusting to the new prices.
Market sources are of the view that the current price war was ignited by the Federal Government’s implementation of the Naira-for-crude policy.
Business
Gold Prices Hit Historic $3,500 Amid Trump Tariffs, Fed Tensions

Gold soared to a record high of $3,500 an ounce on Tuesday, as mounting fears over a potential U.S. recession and escalating tensions between President Donald Trump and the Federal Reserve drove investors toward the traditional safe-haven asset.
The precious metal briefly touched an all-time high of $3,500.10 an ounce before retreating slightly to trade at $3,467.87.
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The rally marks the latest in a string of record-breaking gains for gold, fueled by a weakening U.S. dollar, sharp declines across global stock markets, and growing concerns over the health of the world economy.
Market sentiment took another hit this week after President Trump ramped up his trade war with China, slapping fresh tariffs on the world’s second-largest economy and intensifying fears of prolonged economic disruption.
Gold has surged more than 30 percent since the start of the year as investors seek refuge from mounting market volatility.
“The rally reflects ongoing recession fears in the U.S. economy and heightened political tensions, especially as President Donald Trump continues to attack Federal Reserve Chair Jerome Powell,” said Rania Gule, senior market analyst at trading group XS.com.
Concerns about the Fed’s independence were further stoked Monday, when Trump publicly lashed out at Powell on social media, branding him a “major loser” for not cutting interest rates — a move the president has repeatedly demanded.
The sharp criticism follows Trump’s recent suggestion that he might attempt to remove Powell from his post.