Headline
FG Secretly Paying About N1 Trillion On Fuel Subsidy Monthly, Pinnacle Oil Boss Reveals

Robert Dickerman, the Chief Executive Officer (CEO) and Managing Director of Pinnacle Oil and Gas Limited has alleged that the Federal Government continues to allocate N1trn monthly for petrol subsidy.
This is despite the total deregulation of petroleum products as announced by President Bola Tinubu on the day of his inauguration.
According to Pinnacle Oil, Nigeria is spending approximately N1 trillion every month on petrol subsidies.
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Dickerman made this known while participating in a panel discussion at session six of Nigeria’s Downstream Forum, at the recently concluded Nigeria International Energy Summit (NIES) in Abuja.
“Foreign investors, foreign lenders and government-run DFIs have been very clear about what they want to see: Conservative fiscal policy, tackling corruption, enabling competitive markets, and enforcement of fairness in markets through policy, regulation and the ability to enforce contracts. Keeping that context in mind, I want to point out that there is still a massive subsidy in PMS, albeit in the FX portion of PMS Price, not the global price in dollars.
“The consequences of this subsidy are: The cost of gasoline in Nigeria is the lowest in Africa by far, which encourages smuggling out, further depriving Nigeria of value.
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“Smuggling causes Nigeria to subsidize neighboring countries even while our economy struggles. The cost is hurting the entire budget, Federal and State, as critical programs cannot be funded to pay this subsidy. It is currently calculated to be about 1 trillion Naira/month.
“Also, with this subsidy in place, ceasing subsidy payments would result in no petrol supply, if there are no refineries producing gasoline. All supplies come from the international market which will only sell at market prices.”
Source: X | abati1990
Headline
UK Nursery Worker Jailed For Abusing 21 Babies

A judge on Friday jailed a nursery worker for eight years for a string of “gratuitous” and “sadistic” attacks on babies.
In one incident, Londoner Roksana Lecka, 22, kicked a little boy in the face several times.
Lecka, who blamed cannabis for her crimes, admitted seven counts of cruelty to a person under the age of 16 and was convicted after a trial of another 14 counts.
Sentencing her for attacks on 21 babies, Judge Sarah Plaschkes said she had committed “multiple acts of gratuitous violence” at two London nurseries where she worked.
“You pinched, slapped, punched, smacked and kicked them. You pulled their ears, hair and their toes. You toppled children headfirst into cots,” she said.
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“Often the child would be quietly and happily minding its own business before you deliberately inflicted pain… Your criminal conduct can properly be characterised as sadistic,” she added.
Lecka’s cruelty was revealed in June 2024 after she was seen pinching a number of children.
Police were called in and found multiple incidents recorded on the nursery CCTV.
Victim impact statements submitted to London’s Kingston Crown Court from parents of Lecka’s victims told how they were left heartbroken and guilt-stricken by the attacks.
“These children were so innocent and vulnerable,” one mother told the court.
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“They couldn’t speak, they couldn’t defend themselves and they couldn’t tell us as parents that something had happened to them,” she added.
“They were totally helpless and Roksana preyed upon them.”
The hearing was told that she had apologised to the parents in a letter to the court in which she said cannabis had turned her into a different person.
She had been addicted to the drug around the time of the offences, but had not told the nursery.
She was found not guilty of three further counts of child cruelty.
Headline
Italy Fines Six Oil Firms $1bn Fine For Restricting Competition

Italy’s antitrust regulator said Friday it has slapped Italian energy giant Eni and five other companies with fines totalling more than 936 million euros ($1.1 billion) for “restricting competition” in the sale of fuel.
The authority said in a statement that Eni, Esso, Ip, Q8, Saras and Tamoil “coordinated to set the value of the bio component factored into fuel prices”, which tripled between 2019 and 2023.
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A probe following a whistleblower’s complaint revealed that “the companies implemented parallel price increases — largely coinciding — which were driven by direct or indirect information exchanges among them”, the authority said.
“The cartel began on 1 January 2020 and continued until 30 June 2023,” it added.
AFP
Headline
Trump Signs Order For TikTok’s Sale, Valued At $14bn

United States President Donald Trump on Thursday signed an executive order declaring that his plan is to sell TikTok’s US operations to American and global investors.
As reported by Reuters on Friday, the order requires companies bidding for TikTok to meet the national-security requirements of the 2024 law that otherwise would ban the app unless its Chinese owners divest.
Speaking to reporters at an Oval Office briefing on Thursday, Vice President James Vance said the newly created US entity would be “valued around $14 billion.
“We actually think this is a good deal for investors, but they will make a determination about what they want to invest and what they think is the proper value,” he said.
READ ALSO:Antitrust Trial: US Asks Court To Break Up Google’s Ad Business
The White House on Thursday pushed back the law’s enforcement date to January 20 to allow time for the transaction, investor commitments, and negotiations with Chinese authorities.
The publication of the executive order shows Trump is making progress on the sale of TikTok’s US assets.
However, details remain to be worked out, including how the U.S. company would handle TikTok’s most valuable asset: its recommendation algorithm.
“There was some resistance on the Chinese side, but the fundamental thing that we wanted to accomplish is that we wanted to keep TikTok operating, but we also wanted to make sure that we protected Americans’ data privacy as required by law,” Vance said.
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According to Reuters, Trump’s order says the algorithm will be retrained and monitored by the U.S. company’s security partners, and operation of the algorithm will be under the control of the new joint venture.
Trump said Chinese President Xi Jinping had indicated approval of the plans. “I spoke with President Xi,” Trump said. “We had a good talk, I told him what we were doing, and he said go ahead with it.”
Chinese embassy in Washington did not immediately respond to a Reuters request for comment. TikTok did not immediately comment on Trump’s action.
READ ALSO:Judge Throws Out Trump’s $15bn ‘Rage’ Lawsuit Against New York Times
Trump has credited TikTok, which has 170 million U.S. users, with helping him win reelection last year. Trump has 15 million followers on his personal TikTok account. The White House also launched an official TikTok account last month.
“This is going to be American-operated all the way,” Trump said.
He said that Michael Dell, the founder, chairman and CEO of Dell Technologies; Rupert Murdoch, the chairman emeritus of Fox News owner Fox Corp, and newspaper publisher News Corp, and “probably four or five absolutely world-class investors” would be part of the deal.
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