Hello and welcome! In today’s trending news stories;
1. The Balogun of Eko, Abisoye Oshodi has disagreed with the claim made by the Oba of Benin, Oba Ewuare II, who stated that Lagos was founded by the Binis. Oshodi asserted that the Binis never created Lagos and clarified that while Benin ancestors settled on a small island called Eko, it was not the creation of the entire Lagos. He acknowledged their historical presence but emphasized that Lagos had other tribes before it was officially formed in May 1967.
2. President Bola Tinubu is seeking Senate approval for a loan facility of $8.69 billion and €100 million as part of the 2022-2024 external borrowing plan. The request is an increase from the previous request made on November 1, where he sought approval for a loan of $7.86 billion and €100 million. The loan was initially requested during the administration of former President Muhammadu Buhari. This is the second time President Tinubu has sought permission from the National Assembly for foreign loans under the 2022-2024 external borrowing plan initiated by Buhari before leaving office in May.
3. The outgoing Governor of Kogi State, Yahaya Bello, has expressed hope that Kogi State will surpass Lagos in terms of development. He mentioned that he is following the example of President Bola Tinubu, who played a key role in the development of Lagos. Bello conveyed this during a visit with the governor-elect, Usman Ododo, to Tinubu’s wife, expressing his vision for Kogi to achieve significant development comparable to or even exceeding that of Lagos in the near future.
4. A moving tribute service was held in Atlanta for the late former first lady Rosalynn Carter. Family members, including son James Earl “Chip” Carter, spoke of her remarkable journey and described her as the glue that held their family together. They highlighted her influential role in their lives and her commitment to humanitarian projects, mental health reform, and destigmatizing mental illness.
5. The National Bureau of Statistics (NBS) data revealed that in October, residents of Kogi, Kwara, and Lagos states faced the highest food prices due to a surge in inflation to 27.33 percent and food inflation to 31.52 percent. Kogi experienced the highest food inflation at 41.74 percent, followed by Kwara at 38.48 percent, and Lagos at 37.37 percent. The overall inflation rate increased for the 10th consecutive month in 2023, reaching 27.33 percent, primarily driven by food prices. The report attributed the rise in food inflation to increases in the prices of various food items. This inflationary trend is straining consumers’ budgets, making it challenging for many to afford basic necessities.
6. The football match between Newcastle United and Paris Saint-Germain (PSG) in the Champions League Group F was intense. Despite Newcastle’s strong defense and taking a 1-0 lead with Alexander Isak’s goal, PSG secured a 1-1 draw with a controversial penalty awarded in the seventh minute of added time. The penalty, converted by Kylian Mbappe, denied Newcastle what could have been a historic victory.
7. Charlie Munger, vice-chair of Berkshire Hathaway and Warren Buffett’s longtime partner has passed away at 99. Munger played a vital role in Berkshire’s success, influencing investment decisions and revealing Greg Abel as a potential successor. His death marks a transition for Berkshire as it moves toward leadership by a new group. Despite the title, Munger actively contributed to investments and was known for his sharp wit.