By Ogungbayi Adeyemi S. | adeyemi@ddnewsonline.com
Editor, DDNews |
National News
Why Presidency raised 2026 budget to N58trn:* The Federal Government increased the 2026 budget from N54.46 trillion to N58.18 trillion, with the extra allocation aimed at boosting military and police recruitment. The move has sparked debate over its long-term impact on the economy and security.
10th National Assembly inaugurated: The new Assembly opened with the ruling All Progressives Congress holding only a narrow majority over opposition parties in the Senate, setting up a session of tight political negotiations and alliances.
Yuletide relief, but at what cost?: Prices of rice and beans have dropped ahead of the festive season, but rising costs of onions and cooking oil continue to squeeze household budgets.
Countdown to conflagration: Covers escalating US-Iran tension after Trump’s threat of a potential attack. The Guardian reports a US-Iranian war is becoming “increasingly real,” while the i Paper says Iranians are already fleeing Tehran.
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UK politics & China visit:
Sir Keir Starmer’s visit to China features across UK papers. The Sun highlights a deal to curb illegal migration, The Express questions the significance of his meeting with President Xi Jinping, and The Mirror praises the diplomatic approach.
UK minister proposes universal basic income: Investment minister Lord Stockwood proposed UBI for workers at risk of losing jobs to AI, a move that could reshape how automation’s impact is handled.
Opposition warns against one-party rule as protest hits INEC HQ: Atiku Abubakar, Peter Obi, and Rabiu Kwankwaso led a protest at the INEC headquarters in Abuja. They demanded electoral accountability and warned that recent political moves risk pushing Nigeria toward one-party dominance ahead of 2027.
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UK minister proposes universal basic income for AI job losses: Investment minister Lord Stockwood floated a UBI scheme for workers displaced by AI, saying automation could widen inequality without state intervention. The proposal is already drawing debate in Westminster.
US-Iran tensions escalate: Papers lead with “Countdown to conflagration” after Trump’s threat of action against Iran. The Guardian reports a US-Iranian war is becoming “increasingly real,” with diplomatic channels narrowing.
African News
Ramaphosa defends delay in justice for violence victims: President Ramaphosa addressed parliament on delays in prosecuting 2021 unrest cases, saying complex investigations are ongoing but promising accountability before year-end.
Sharp slowdown in growth, debt challenges ahead: Senegal projects GDP growth to drop due to declining hydrocarbon output and rising debt service costs. Finance ministry plans spending cuts and new IMF talks.
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International News
Countdown to conflagration’ as Trump threatens Iran: The Daily Mail leads with Trump’s warning of potential military action after failed nuclear talks. The Guardian says a US-Iranian war is “increasingly real” as Iranians begin leaving Tehran
Starmer secures migration deal in Beijing: The Sun reports Sir Keir Starmer agreed to a UK-China framework to curb illegal migration during his state visit. The Express questions whether the Xi meeting produced concrete trade gains.
Global News
Oil spikes as Strait of Hormuz tensions rise: Crude jumped 4% in early trading after Iran’s naval drills near the Strait, following US-Iran threats. Analysts warn extended closure could push global inflation higher.
UK minister proposes UBI for AI job losses: Financial Times reports Investment minister Lord Stockwood proposed universal basic income for workers at risk from AI automation, sparking debate on how governments should manage tech disruption
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Stock Exchange News
NGX: ASI gains 0.28% to close at 202,585.54. The Nigerian Exchange All-Share Index climbed 562.44 points Friday, a 1.05% gain for the week and 30.19% year-to-date. Market cap now stands at N114.3trn
Top Gainers: Universal Insurance, Omatek, VFD Group lead rally. Universal Insurance surged 10% to N1.21, Omatek Ventures added 9.78%, and VFD Group rose 9.71%. Livestock Feeds gained 9.56% on strong Q1 results.
Top Losers: UPDC REIT, Fortis Global drag market. UPDC Real Estate Investment Trust fell 10% to N6.75, Fortis Global Insurance dropped 9.92%, and Deap Capital lost 9.85% amid profit-taking.
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Exchange Rates News
USD/NGN: Naira steadies at N1,382.04 official, N1,410-N1,425 parallel.
CBN official rate closed at N1,382.04/\$, recovering slightly from N1,383.34 Thursday. Parallel market quotes ranged N1,410-N1,425 as dollar supply improved from oil receipts.
EUR/NGN: Euro trades N1,605.61 official, N1,600-N1,640 street. The Euro held firm after ECB rate decision, with banks selling at N1,605.61 while BDCs quoted N1,600-N1,640.
GBP/NGN: Pound at N1,838.57 official, N1,870-N1,900 parallel. Sterling stayed elevated on UK inflation data. Official CBN rate: N1,838.57, while Lagos parallel market ranged N1,870-N1,900.
Entertainment News
Simi Sanya & Femi Dapson’s traditional wedding reception steals the spotlight: Simi wore a beaded Veekee James gown while Femi rocked a Tochini Bespoke agbada. The couple’s entrance video is trending across Instagram and TikTok.
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Wunmi Mosaku serves double Louis Vuitton & Georges Chakra looks at 2026 Oscars: The Nigerian-British actress hit the red carpet in custom Louis Vuitton, then switched to a Georges Chakra couture gown for the Vanity Fair after-party.
Osas Okonyon, Omowunmi Dada turn heads at “Evi” movie premiere: Both stars opted for bold, sculptural silhouettes, with Osas in a metallic gold mermaid dress and Omowunmi in a dramatic off-shoulder velvet piece.
Fashion and Style News
Lagos Fashion Week SS26: Brown, metallics & iridescents dominate runways. Designers leaned into raffia, beads, and fringe. Mugo and Dimeji Ilori were standout shows, pushing sustainability with upcycled aso-oke and adire.
Nigerian brands redefining streetwear: Orange Culture, Onalaja, Hertunba. Orange Culture dropped a gender-fluid collection, Onalaja debuted hand-painted agbadas, and Hertunba’s new “Lagos Noir” line sold out in 48 hours.
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Beauty buzz: Bold lips + minimal skin trending for Harmattan season. Makeup artists in Port Harcourt and Lagos are pushing matte berry lips paired with dewy, low-coverage base as the go-to look for April events.
Sports News
Champions League: Atletico Madrid 2-0 FC Barcelona. Atletico advanced to the quarter-finals after a clinical home win. Griezmann and Llorente scored, while Barcelona failed to register a shot on target. Xavi calls it “a wake-up call” ahead of La Liga run-in.
Champions League:PSG 2-0 Liverpool. Mbappé bagged a brace at Parc des Princes, ending Liverpool’s unbeaten UCL run. Klopp: “We lacked intensity in both boxes.”
MLS/Liga MX: Toluca 4-2 LA Galaxy, Tigres 2-0 Seattle Sounders. Toluca outclassed LA Galaxy in the CONCACAF Champions Cup, while Tigres comfortably handled Seattle. Both Liga MX sides move to the semis.
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