News
Trump Announces His Own Social Media

Former United States of America President, Donald Trump on Wednesday said that he’s launching Trump Media & Technology Group, TMTG, and a “Truth Social” app as a rival to the Big Tech companies that have shut him out and denied him the megaphone that was paramount to his national rise.
The announcement came nine months after Trump was expelled from social media for his role in inciting the Jan. 6 Capitol insurrection.
Experts were split on how strong a competitor Trump Media & Technology Group can be, but the stock market reacted with exuberance.
TMTG’s plan is to become a publicly listed company through a merger with Digital World Acquisition Corp., a type of company whose sole purpose is to acquire a private company and take it public.
Shares of Digital World Acquisition quadrupled Thursday in what some might see as validation for Trump, even though there’s a ways to go before the merger is completed.
“I’m personally not a Trump supporter, but this could lead to giant media presence,” said investor Ryan Joshua Keenan, who put $2,000 into the stock early Thursday morning and had already tripled the money by the early afternoon. “It’s been going up ridiculously.”
Trump has spoken about launching his own social media site ever since he was barred from Twitter and Facebook. An earlier effort to launch a blog on his existing website was abandoned after the page drew dismal views.
“We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced,” he said in a statement Wednesday. “This is unacceptable.”
Conservative voices actually do well on traditional social media. On Wednesday, half of Facebook’s 10 top performing link posts were from conservative media, commentators or politicians, according to a daily list compiled by a New York Times technology columnist and an internet studies professor using Facebook’s own data.
TMTG has not set its sights low. In addition to the Truth Social app, which is expected to soft-launch next month with a nationwide rollout early next year, the company says it is planning a video-on-demand service dubbed TMTG+ that will feature entertainment programming, news and podcasts.
One slide in a TMTG presentation on its website includes a graphic of its potential competitors, which range from Facebook and Twitter to Netflix and Disney+ to CNN. The same slide suggests that over the long term TMTG will also become a power in cloud computing and payments and suggests it will go head-to-head with Amazon, Microsoft, Google and Stripe.
A Trump-branded social media portal would join a crowded space dominated by Big Tech-run portals like Facebook and Twitter. Still, everyday social media users tend to be on multiple platforms at once, so TMTG’s offering doesn’t have to necessarily peel users from other portals to thrive.
“This network will most likely be most successful in targeting far-right users, the same that left Facebook for ‘alternative’ social networks like Gab or Parler,” said Alexandra Cirone, assistant professor in government at Cornell University.
Trump’s new media outlet could also compete for viewers on conservative networks such as OANN, Newsmax and Fox News, she said.
Ali Mogharabi, senior equity analyst at Morningstar, who covers Twitter, Facebook and other social media companies, said Trump’s brand could initially give TMTG a leg up relative to other new social media sites going up against Facebook and other big players.
“Whether that’s going to be sustainable in the long run, that’s very uncertain.”
Mogharabi said next year’s mid-term elections could be pivotal in whether the social media platform succeeds.
“A lot of Trump supporters would probably go on there. Even more so in 2024, if Trump actually decides to run for president. Those types of future events could actually attract more users.”
For now, the deal is attracting stock traders. Shares of Digital World Acquisition soared $35.34, or 357%, to $45.50, and changed hands more than 475 million times. That compares with average trading volume of about 11 million shares for Twitter, which trade at around $65.
Digital World Acquisition, based in Miami, is a special-purpose acquisition company, or SPAC. Such publicly traded companies are designed to list the shares of a private company more quickly than a traditional initial public offering. In practice, that means the SPAC acquires a private firm and then changes its name and other details to those of the acquired firm.
“It’s been many, many months since there’s been a SPAC merger greeted with this amount of enthusiasm,” said Jay Ritter, a professor at the University of Florida who specializes in initial public offerings.
A SPAC pays for an acquisition with cash from its own initial public offering. DWA completed its initial public offering on Sept. 8. DWA said it has raised roughly $293 million in cash, which it will use to grow TMTG’s ventures.
The enthusiasm from investors came even though the SPAC deal was unusual in several ways. Announcements of such deals typically are accompanied by the actual merger agreement and a presentation to investors full of numbers and data.
In this one, the merger agreement was not there. And the “Company Overview” of TMTG on its website is light on details about its structure and finances.
“I don’t know enough to say it’s unprecedented, but it’s weird. Given a lot of things that happen with Trump are not great with details and formalities, it’s perhaps not surprising, but it’s not the norm in SPACs,” said Michael Ohlrogge, an assistant professor of law at New York University who researches SPACs.
Until the deal is completed, TMTG would not have access to the cash raised by the SPAC. And without additional details from the companies, it’s unclear what Trump’s role will be and how much he’ll be compensated.
The deal has an initial enterprise value, which measures total debts and assets, of $875 million, according to Wednesday’s announcement. Experts say it could take up to six months for the deal to close.
Digital World Acqusition is currently run by CEO Patrick Orlando, a Miami-based founder of the Benessere Investment Group. He owns 18% of Digital World’s stock, according to a recent regulatory filing.
Orlando has experience taking at least three SPACs public. One company, Yunhong International, had planned to buy a marketer of “carbon neutral” fuel cells and batteries, but a press release issued last month said the deal had been canceled without giving a reason.
Orlando declined to comment about Trump’s potential role in the new company to The Associated Press on Thursday, pointing the public statements, which provide no detail.
The last time Trump ran a publicly traded company, it didn’t end up well for investors. His casino company, Trump Entertainment Resorts, lost hundreds of millions of dollars over more than a dozen years and filed for bankruptcy several times, socking shareholders with big losses. Trump fared better. He took in $82 million in fees, salary and bonuses over the same period, according to Fortune magazine.
(AP)
News
Foundation Holds School Debate In Benin To Address Negative Narrative About Education

Osahon Enabulele Foundation, (DOEF), has given reason for organising interschool secondary schools debate in Edo State, saying it was “conceived to tackle the negative narrative surrounding the value of education among the younger generation.”
The Director—General of the foundation, Dr. Osahon Enabulele, stated this at the grand finale of the maiden edition of the debate held in Benin on Wednesday.
The competition, titled: “If education is a scam or not” was informed by the social-economic reality with students demonstrating impressive intellectual competition and depth.
Enabulele stressed that the debate was aimed at promoting intellectual development, encouraging civic engagement and public speaking, and fostering leadership qualities and critical thinking.
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He added that the foundation, established nine months ago, was driven by strategic pillars that include leadership and governance, health, education, policy advocacy and social philanthropy.
According to him, many young people are becoming disillusioned by society’s “defective role modelling” and the “unfortunate reward for individuals with questionable sources of wealth,”
He said, “The debate is totally driven by the Foundation as a deliberate interventionist initiative that seeks to reverse the worrisome negative narrative about education, particularly amongst our upcoming generations, including our youths who are increasingly becoming victims of our society’s defective role modelling and unfortunate reward for individuals with very questionable sources of wealth, with leadership and societal positions. Our younger ones are truly becoming disillusioned as a result of these inanities.
“Some no longer think it is worthwhile to acquire education or task their brains in any way. This debate initiative is therefore our Foundation’s committed efforts to contribute to the reversal of this worrisome trend and mindset affliction.”
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The interschool debate saw Eghosa Grammar School clinching the N1m star prize while other winners were also presented with a certificate of participation, books and other sundry items.
The outstanding speakers during the debate also went home with cash prizes ranging from N100,000 to N200, 000.
News
Trump’s Military Threat: ‘Poor Man Is Already A Sinner’ – Shehu Sani

Former lawmaker, Shehu Sani, has criticised United States President Donald Trump’s approach to global relations, alleging a double standard in the way he engages with different regions of the world.
In a statement posted on X on Wednesday, Sani said Trump had secured a trillion-dollar deal from Saudi Crown Prince Mohammed bin Salman and consistently defended the kingdom, while raising issues of human rights, terrorism and religious persecution only when dealing with African leaders.
According to him, no African, European or Latin American nation could offer Trump the kind of financial leverage that oil-rich Arab states provide.
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Sani’s remarks come amid Trump’s recent threat of military action in Nigeria over allegations of Christian genocide.
The former lawmaker argued that in a materially driven world, “a poor man is already a sinner,” suggesting that economic power continues to shape international attitudes and interventions.
He wrote: “Mr Trump got a deal of a trillion dollar from Bin Salman and defended everything about Saudi Arabia. No African, European or Latin American country can give him that.
“When they are talking with oil rich Arab countries, issues of human rights, executions, terrorism and religion doesn’t come up, until they meet with African leaders and start asking them where they learned ‘how to speak English’. In a material World, a poor man is already a sinner.”
News
Why Nigerians Are Not Feeling Inflation Drop – Economists

Despite Nigeria recording its seventh consecutive month of disinflation, economists and financial analysts have raised concerns that the easing inflation trend has brought little or no relief to Nigerians and households already overwhelmed by high living costs and economic hardship.
The National Bureau of Statistics (NBS) reported that headline inflation slowed to 16.05 per cent in October 2025, down from 18.02 per cent in September, one of the strongest single-month declines this year.
Food inflation also moderated to 13.12 per cent, compared to 16.9 per cent in the previous month.
But economists and analysts insist the improved figures do not reflect the economic reality facing millions of Nigerians.
The Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, said the gains from the latest figures have not translated into real cost-of-living relief because price pressures remain elevated across essential sectors.
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“Inflationary pressures remain elevated in critical household sectors—including food, transportation, housing, utilities, education, and health—which jointly account for 84 percent of inflation,” Yusuf noted.
He attributed the limited impact of disinflation to persistent structural challenges such as high logistics costs, energy constraints, insecurity in food-producing regions and climate-related disruptions that continue to suppress supply.
According to him, “the full welfare benefits are yet to be sufficiently felt by households due to persistent structural constraints.”
Yusuf advised that deeper and sustained reforms across key sectors—supported by coordinated monetary, fiscal and structural policies—are necessary to turn statistical improvements into real economic progress.
‘NBS Inflation Figures Are Flawed’ — Former CIBN President, Okechukwu
In an interview with DAILY POST, Mazi Okechukwu Unegbu, former President of the Chartered Institute of Bankers of Nigeria (CIBN), said the October inflation report is detached from the real-life experience of Nigerians.
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Unegbu insisted the country’s true inflation rate is significantly higher than official figures suggest.
“The inflation figure by the National Bureau of Statistics is flawed because it does not reflect reality. In real terms, the country’s inflation is as high as 29 percent,” he said.
He argued that the persistent rise in the cost of food, rent, transportation, fuel, and other essentials shows that the declining inflation rate “does not make sense” to the average Nigerian.
Why Nigerians Still Feel No Relief — Oyedokun
An economist and a university don, Prof Godwin Oyedokun, said most Nigerians feel no impact from the inflation slowdown because the structural drivers of the cost-of-living crisis remain intact.
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He outlined six reasons why Nigerians are yet to feel the impact of inflation: “Prices are still rising— just more slowly- A drop in inflation does not mean prices are falling. Nigerians are still paying historically high amounts for food, transport, energy and rent.
“Incomes remain stagnant- Wages, pensions and SME earnings have failed to keep up with inflation for two years, weakening purchasing power.
“Key cost drivers remain unresolved- Exchange-rate volatility, high energy costs, logistics inefficiencies, insecurity in food belts and elevated interest rates continue to fuel price increases.
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Inflation expectations are still high- Businesses expect prices to rise further and therefore adjust prices upward in advance.
“State-to-state variations distort relief- Some states still record much higher food and transportation inflation than the national average.
“Poverty levels overshadow economic data- With high unemployment and widespread poverty, even a slowdown in inflation does little to improve household welfare.”
Prof. Oyedokun concluded that “Nigerians have yet to feel any relief because the level of prices— not just the rate of change— remains painfully high, and the structural conditions driving hardship persist.”
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