NEWS
Obama Congratulates Trump, Applauds Extraordinary Harris
With the conclusion of the United States’ 2024 elections, on November 5, which saw the historic re-election of the Republican flagbearer, Donald Trump, former president, Barack Obama has congratulated the winner.
In the congratulatory note, published on his socials late on Wednesday, Obama made it clear that it was about putting the country above personal or party interests.
He had kind words for his Democrat comrades, “Michelle and I could not be prouder of Vice President Harris and Governor Walz – two extraordinary public servants”.
The Afro-American president of the US noted that problems will always be part of humanity, the US being no exception but that these problems are solvable by keeping faith with the constitution, in addition to cooperation, communication between the leaders and the led.
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According to him, “The good news is that these problems are solvable – but only if we listen to each other, and only if we abide by the core constitutional principles and democratic norms that made this country great.
“In a country as big and diverse as ours, we won’t always see eye-to-eye on everything. But progress requires us to extend good faith and grace – even to people with whom we deeply disagree.”
Obama wrote, “Over the last few weeks and through Election Day, millions of Americans cast their votes – not just for president, but for leaders at every level. Now the results are in, and we want to congratulate President Trump and Senator Vance on their victory.
“This is obviously not the outcome we had hoped for, given our profound disagreements with the Republican ticket on a whole host of issues. But living in a democracy is about recognizing that our point of view won’t always win out, and being willing to accept the peaceful transfer of power.
“Michelle and I could not be prouder of Vice President Harris and Governor Walz – two extraordinary public servants who ran a remarkable campaign. And we will always be grateful to the staff and volunteers who poured their heart and soul into electing public servants they truly believed in.
“As I said on the campaign trail, America has been through a lot over the last few years – from a historic pandemic and price hikes resulting from the pandemic, to rapid change and the feeling a lot of folks have that, no matter how hard they work, treading water is the best they can do. Those conditions have created headwinds for democratic incumbents around the world, and last night showed that America is not immune.
“The good news is that these problems are solvable – but only if we listen to each other, and only if we abide by the core constitutional principles and democratic norms that made this country great.
“In a country as big and diverse as ours, we won’t always see eye-to-eye on everything. But progress requires us to extend good faith and grace – even to people with whom we deeply disagree. That’s how we’ve come this far, and it’s how we’ll keep building a country that is more fair and more just, more equal and more free.”
In a tragic attack early Tuesday, suspected bandits killed 10 people in Wayam, a community within Sabon-Gari District in Rafi Local Government Area of Niger State.
The gunmen reportedly arrived on motorcycles and began firing indiscriminately, causing widespread panic and chaos among residents.
According to local sources, the assailants fatally shot three individuals and slaughtered two women who resisted their advances. Five others succumbed to gunshot wounds later in the day. The bandits also set fire to homes and food supplies before fleeing the scene, leaving the community in ruins.
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A resident, speaking on condition of anonymity, described the situation as dire, adding that most villagers had fled Wayam out of fear of further violence. “The community is practically deserted now,” the source revealed.
This latest incident follows a similar attack six months ago, where bandits targeted Madaka, a nearby community, resulting in the death of 60 people. The continuous violence has heightened concerns about security in Niger State’s rural areas.
Efforts to reach the Niger State Police Command for comments were unsuccessful as the Public Relations Officer, SP Wasiu Abiodun, was unavailable at the time of this report.
Nigerian Electricity Distribution Companies (DisCos) have introduced a new wave of price hikes for electricity meters, marking the second increase within four months.
According to recent announcements, the cost of single-phase meters has risen from approximately N117,000 to N149,800, representing a 28.03% increase, depending on the distribution company and meter vendor.
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The changes, disclosed on the DisCos’ official X (formerly Twitter) handles, took effect on November 5, 2024.
The price hike is attributed to the Nigerian Electricity Regulatory Commission’s (NERC) recent deregulation of meter asset providers, part of a policy introduced in April 2024.
The new policy seeks to foster a more competitive metering market, where prices are now set through competitive bidding rather than being regulated, aiming to improve service delivery and pricing transparency.
Prices vary significantly across the DisCos, based on location, vendors, and meter type.
Eko DisCo’s single-phase meters range between N135,987.5 and N161,035, while three-phase meters are priced between N226,600 and N266,600.
In contrast, Abuja DisCo customers will pay between N123,130.53 and N147,812.5 for single-phase meters and N206,345.65 to N236,500 for three-phase meters.
Other DisCos, including Ibadan, Kano, and Kaduna, also announced their specific pricing tiers, showing a general trend of rising costs across the board.
The deregulation under NERC’s Metre Asset Provider (MAP) scheme is a shift away from centrally regulated and often subsidized meter pricing.
By removing these operational restrictions, NERC anticipates that the market will foster greater competition among meter providers, thereby benefiting end-users with improved quality and accountability.
However, vendors must adhere to regulatory standards to ensure service reliability.
Despite these anticipated benefits, the price hikes have sparked renewed concerns among electricity consumers.
Many are worried about the affordability and accessibility of meters, which are essential for accurate billing and efficient energy management.
With deregulation, DisCos and customers are expected to gain more flexibility to negotiate favorable deals, although the immediate impact for consumers appears to be an increase in costs.
The Nigerian electricity sector, long troubled by inefficiencies and supply issues, faces a period of adjustment under these new market dynamics.
Donald Trump’s recent election victory isn’t just putting him back in the White House; it’s also delivering a massive boost to his personal wealth.
On Wednesday, Trump Media’s stock, traded under the ticker “DJT,” soared by 35% in premarket trading, pushing the company’s valuation to around $9 billion.
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Trump holds a significant majority stake in the right-wing social media company, which, despite its limited earnings and operational losses, has experienced a meteoric rise in stock value.
This surge brings the value of Trump’s 114.75 million shares to approximately $5.3 billion—up from $3.9 billion at the close of trading on Election Day.
However, analysts caution that Trump’s new wealth figure is largely theoretical, as liquidating a large portion of his shares could send prices tumbling.
Trump Media’s stock has often been viewed as a bellwether for investor sentiment on Trump’s political prospects.
After a sharp decline in September, the stock began rebounding in late October as Trump’s odds of winning the election improved.
This trend culminated in a steep rally after his victory, with speculation among investors driving the rapid increase in value.
However, despite this financial gain, Trump Media faces significant challenges.
The company operates at a loss and will need to address financial hurdles to maintain its momentum.
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