NEWS
FEC Approves $618m Loan For Fighter Aircraft, Ammunition Procurement
The Federal Executive Council (FEC) has approved a loan package totaling $618 million from a group of international financiers to procure six fighter aircraft and associated ammunition for the Nigerian Air Force.
The decision was announced by the Minister of Information and National Orientation, Mohammed Idris, following the FEC meeting chaired by President Bola Tinubu in Abuja on Wednesday.
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Mohammed Idris, who represented the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed that the loan includes a credit facility of €443.3 million and $141 million.
This funding will be used to purchase six units of M346 fighter jets, a move that aligns with the Nigerian Air Force’s ongoing fleet renewal strategy.
Earlier in October, the Air Force announced plans to acquire 24 M346 combat jets and 10 AW109 Trekker helicopters, with the first deliveries scheduled for early 2025 and continuing through mid-2026.
The procurement, according to Idris, is part of a broader set of approvals made by the FEC during the meeting.
These include the elimination of double taxation agreements between Nigeria and Hong Kong as well as Botswana, and several contracts for the Nigerian Customs Service.
In addition to defense investments, the FEC also approved the establishment of the Creative Economy Fund, aimed at bolstering Nigeria’s growing creative sector.
The Minister of Art, Culture, Tourism, and Creative Economy, Hannatu Musawa, described the fund as a “special purpose vehicle” designed to provide financial access to creative professionals, allowing them to use their intellectual property (IP) as collateral.
The minister emphasized that the fund, already backed by a $200 million commitment from Afreximbank, will help the creative sector in Nigeria flourish by providing much-needed financial support.
“We identified very early on that the basic structures needed to tap into the potential of the creative economy were missing,” Musawa said, stressing the importance of establishing robust IP policies and other foundational elements for the sector’s growth.
International News
Fire Ravages Indonesia Market, Kills 11 Including Six Children
At least 11 people, including six children, have died after a fire swept through a market and surrounding buildings in Indonesia’s easternmost Papua region.
The deadly blaze broke out shortly after midnight on Monday in Paniai, Central Papua province, and quickly spread to several tightly packed shophouses and structures in the area.
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According to local police spokesman Henry J. Manurung, firefighters battled the inferno for more than three hours before eventually bringing it under control.
“During the inspection, officers found 11 victims who had died with burn injuries,” Manurung said in a statement.
He said five of the victims were adults, while the other six were children aged between two and nine years.
The fire destroyed at least 40 kiosks and houses despite the deployment of fire trucks and water cannons by emergency responders.
Manurung said the tightly packed arrangement of the houses and market stalls contributed to the rapid spread of the flames and made firefighting operations more difficult.
Authorities are currently investigating the cause of the deadly fire.
The incident adds to a series of deadly fires recorded in Indonesia in recent years.
In December, 22 people were killed when fire swept through a seven-storey office building in Central Jakarta. Police said an exploding drone battery on the ground floor was the likely cause.
In 2023, an explosion at a nickel-processing plant in eastern Indonesia also claimed at least 12 lives.
The latest tragedy has left the Paniai community mourning as authorities continue efforts to establish what triggered the devastating blaze.
NEWS
Trump Sparks Outrage With Shock Proposal to Rename New Mexico
United States President Donald Trump has sparked controversy after suggesting that New Mexico should be given a new name.
Trump made the proposal on Sunday in a social media post, saying several people had suggested changing the name of the southwestern US state.
He described the proposed alternative as “more prestigious and beautiful” for what he called an “incredible State,” adding that he loved the idea.
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The White House later reposted an image illustrating the proposed change, with the word “Mexico” in New Mexico’s name crossed out and replaced.
However, New Mexico Governor Michelle Lujan Grisham swiftly rejected the suggestion, insisting that the state’s name was not open for debate.
Speaking to Fox News, Lujan Grisham said the name had belonged to the state since before the United States existed.
She also accused Trump of seeking to distract Americans from pressing issues, including soaring gas prices.
The latest proposal is part of a broader pattern of name-change suggestions by Trump since returning to the White House.
Trump previously moved to rename the Gulf of Mexico as the Gulf of America shortly after beginning his second presidential term in 2025, a move rejected by Mexico.
Last week, he also suggested renaming the Strait of Hormuz, although he later appeared to indicate that he was not being serious about the proposal.
Trump has additionally proposed changing the name of Lake Ontario, a move that has been rejected by Canada.
Some US media reports have suggested that the latest New Mexico name-change idea may have originated as an internet hoax before being amplified by the president.
Despite Trump’s suggestion, Governor Lujan Grisham has made clear that there is no debate over changing the state’s name.
NEWS
Adeleke Jets Out on Vacation, Orders Probe into Koka Obaship Dispute
Osun State Governor, Senator Ademola Adeleke has left for vacation in Europe even as he ordered a probe into the emerging dispute over the kingship of Koka town in Obokun Local Government.
According to a government house statement on Sunday in Osogbo, the governor will also embark on medicals as part of the vacation and is headed to the United Kingdom among other destinations to be announced later.
“I am taking a short break to refresh and get further prepared to serve the good people of Osun state”, the governor stated while taking off at the Lagos airport.
He however directed the Ministry of Local Government and Chieftaincy Affairs to probe the circumstances surrounding the reported appointment of another king for Koka Ilase, leading to alleged two kings in the same town.
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The ministry was instructed to review the situation and enforce due process of the law in respect of the chieftaincy law and tradition.
“I read of another King appointed outside the one on the stool. The ministry is hereby directed to look into the dispute and issue a report to set the records straight.
“I however urge all stakeholders to remain peaceful as the ministry does the needful. Kingship is governed by extant laws and regulations and the government will stand by the law and tradition of our people”, the governor posited.






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