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Global Recession Looms As Trade War Escalates

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The global community is on the brink of economic recession following the torrents of tariffs US President Donald Trump slammed on many countries with which it has trading relations in varying degrees.

 

Barely a week after Trump announced the sweeping tariffs, no fewer than 64 countries affected have reportedly responded with counter-tariffs while some are still open to negotiation for a favourable trade term with the US.

 

On Wednesday, the US President intensified the tariffs on China to 125% “effective immediately”, up from the initial 104% it earlier imposed on the second-largest economy in the world.

 

“At some point, hopefully shortly, China will realise that the days of ripping off the USA, and other countries, is no longer sustainable or acceptable,” the US president wrote on the social media platform Truth Social.

 

Beijing did not take it lightly and retaliated by also raising its tariffs against the US to 84%.

The European Union, made up of about 27 countries, has also imposed tariffs on US goods.

Trump also announced a 90-day pause on the implementation of new tariffs, beckoning Americans to remain calm in the uncertainty surrounding his tariff policies, which have triggered protests in many US cities.

 

China, however, refused to back down after being hit with the new tariff from Trump, even as Beijing has already filed a complaint to the World Trade Organisation, saying the US is violating international trade laws.

 

The trade in goods between the two economic powers added up to around $585bn (£429bn) last year, though the US imported far more from China ($440bn) than China imported from America ($145bn). That left the US running a trade deficit with China – the difference between what it imports and exports – of $295bn in 2024. That’s a considerable trade deficit, equivalent to around 1% of the US economy. But it’s less than the $1trn figure that Trump has repeatedly claimed this week.

 

Meanwhile, the EU on Wednesday voted to impose new tariffs on some American goods from 15 April – affecting €20.9bn (£18bn) worth of goods – to be implemented in three stages throughout the year.

EU tariffs on the US will come into effect in three phases, the first set coming into effect on Tuesday next week on €3.9bn worth of goods the US sells to EU countries.

 

A month later, on 15 May, another €13.5bn of goods will be impacted, followed by a further €3.5bn from 1 December.

 

These tariffs are in response to the 25% import taxes President Trump imposed on all steel and aluminium, which came into force in mid-March.

 

They applied to both the EU and the rest of the world.

 

Hungary was the only one of the 27 EU member states to vote against imposing tariffs on the US. Prime Minister Viktor Orban has long been seen as a close ally of President Trump, but he also has domestic pressures to consider when it comes to tariffs.

 

On social media, the minister for foreign affairs and trade, Peter Szijjarto, said: “Such measures would cause further damage to the European economy and citizens by raising prices. The only way forward is negotiations, not retaliation.”

 

Meanwhile, European stock markets sustained losses across the major indexes on Wednesday. In France, the Cac 40 ended down 3.34% after falling 2.3% at opening this morning.

 

The German Dax closed 2.96% lower this evening after opening to losses of 2.1%. This comes just as the UK’s FTSE 100 finished for the day at a 13-month low with a fall of 2.92%. It had opened at 2.5% down.

Incoming German Chancellor Friedrich Merz has said that Europe can rely on his country and called for a joint response to Trump’s tariffs.

 

Merz accused Trump of unleashing new turbulence in financial markets, warning that “we don’t know where that leads”.

 

“Germany will fulfil its obligations in terms of defence, and Germany is willing to strengthen [our] own competitiveness,” he added during an event at which he presented his new coalition’s priorities.

Canada, which is impacted by the 25% tariffs on cars and metals, as well as other goods outside of the free trade agreement it has with the US and Mexico, has responded with a range of tariffs, including 25% on certain cars coming from the US, and billions of dollars worth of US goods.

 

The Trump tariffs have sparked a crisis in the energy sector, with oil prices crashing. WTI crude oil plummeted to $55.60 a barrel, down 6.68%. Brent crude oil, which is usually used as a global benchmark of oil prices, fell to $58.84 at one point, a 6.34% drop.

 

The price per barrel continued to fluctuate throughout Wednesday. At certain points, it rose slightly above $60 before falling back down.

 

This development might be cruel for many people worldwide as crude oil prices impact everyday items like petrol for your car. Experts said the plummeting oil prices will also affect the cost of shipping imported goods, heating homes, and production costs for energy-intensive industries.

 

And for Nigeria, which benchmarked its 2025 budget at $75 a barrel, it means a revenue squeeze to carry out government activities.

 

 

 

-Leadership

Entertainment

Davido breaks silence after Grammy Award loss

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Five-time Grammy nominee, David Adeleke, popularly known as Davido, has reacted after losing the Best African Music Performance category at the 68th Grammy Awards held in Los Angeles, United States.

 

The Afrobeats star shared a message of faith and resilience following the outcome of the ceremony, which took place on Sunday night at the Crypto.com Arena in California.

In a post on his Instagram page, Davido shared photos with his wife, Chioma, from the event and wrote, “Oluwa Dey my side,” alongside prayer and music emojis.
Hours later, he posted another set of pictures of himself and Chioma at the Grammys, reflecting on the loss in a longer caption.

“I said baby listen we lost again let’s not go ! she said ‘Be humble in victory and gracious in defeat’ we outside,” he wrote.
Chioma also reacted via her Instagram page, praising the singer, “You already know that you’re the perfect one, @davido,” she wrote, while sharing photos from the awards night.
Davido was nominated in the Best African Music Performance category at the 2026 Grammy Awards but lost to South African singer Tyla, who won with her song Push 2 Start.

Other nominees in the category included Burna Boy (Love), Ayra Starr and Wizkid (Gimme Dat), Davido (With You featuring Omah Lay), and Eddy Kenzo and Mehran Matin (Hope & Love).

The win marked Tyla’s second Grammy Award, following her first victory in 2024 for her hit single Water.

Speaking during the awards ceremony, the singer revealed that With You, featuring Omah Lay, almost did not make the final tracklist of his album 5IVE.
“Man, it’s so crazy because that song almost didn’t make the album. With You was not in anybody’s top five.
“And now look at it go. Every time I was performing it, my heart would just start beating like, what if I didn’t put this song?” he told OkayAfrica.

Davido also recounted how he learned about the Grammy nomination, saying the news came unexpectedly while he was in Dubai, days before his birthday.

“I was in the car, actually, checking a car, and then my phone rang. They were like, ‘Oh yeah, another nomination.’ I was like, wow. Thank God,” he said.

“With You” was released in April 2025 as the 17th track on Davido’s fifth studio album, 5IVE, and has since become one of his most successful recent records, surpassing 100 million streams on Spotify.

Despite the song’s success, Nigeria did not record a win at the 2026 Grammy Awards.
Davido said he is now focused on touring and releasing new music.

He is also billed to perform at Coachella 2026, where he will be the only Nigerian artiste on the festival lineup, performing on April 11 and April 18, 2026, in Indio, California.

-Guardian

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Kunle Afolayan gives reasons to marry many women

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Nollywood filmmaker, Kunle Afolayan, has stirred reactions after advising men to “marry many women” while reflecting on his upbringing in a polygamous home.

 

The actor and producer made the remarks at the watch party of Aníkúlápó: The Ghoul Awakens, with a clip from the event going viral on Tuesday.

Speaking at the event, Afolayan linked his existence and achievements to his late father’s decision to marry several wives.

“Without my father, there wouldn’t have been a KAP Village or even Kunle Afolayan. I am the seventh born of my father because my father had ten wives. For the men, marry many women, or rather be involved with many women. You know why? If my father didn’t, he would not have born me, and that is the honest truth. But today, a few of us are lifting his legacy. Life is short, death is constant. Nobody has life forever. Everybody has a period. Use your period,” he said.

While his daughter, Eyiyemi Afolayan, joined him on stage, the filmmaker compared his childhood experience with his relationship with his children.

“They are lucky. For her, staying by my side is luck. Do you know why? I couldn’t stand it with my father. My father didn’t know my school. My father didn’t know my date of birth. He did not know anything about me other than, ‘He is the son of that person.’ But today, I’m so proud of my father,” he added.

Afolayan also spoke about fatherhood.

“Sometimes when people say ‘Happy Father’s Day,’ I’m always saying whether he pays child support or not, he’s still a father. I have been going to court because I want to get a divorce. I don’t mind being in the witness box, and I experienced the shit, so that I can marry many wives,” he said.

He thereafter prayed for his daughter, praising her role in the series.

“Hephzibah, her mother is the one who gave her the name. I don’t care, but I am proud of you. You started with the film, you did the first season, and now with the second season, you did amazingly well. My good Lord will continue to increase you in wisdom, in knowledge, and in understanding. If this is your path, the good Lord will see you through.”
However, this is not the first time the filmmaker has spoken about his late father’s polygamous lifestyle.

In March 2021, Afolayan told BBC Pidgin that his father, Adeyemi Afolayan, who died in 1996, married 10 wives and had 25 children, a decision he said took a toll on the family.

“I would not want to marry many wives because my father had 10 wives and I knew what happened throughout that period. I knew that really distracted my father. In this age, nobody needs to tell you before you know what’s right,” he said at the time.

He also disclosed that growing up in a polygamous home affected bonding among the children due to language and other barriers.

Afolayan further narrated how he battled poverty in his early years, revealing that he once lived in a one-room apartment in Ebute-Metta and sometimes had to deal with flooding.

“I was born in Ebute-Metta and have lived in one-room apartment before that we even have to grapple with flood sometimes. It’s not shame to say have been poor before. But if you see how l made it, it’s a matter of consistency. My father was a very popular filmmaker and ordinarily, people would expect me to life the kind of live akin to Hollywood stars,” he said.

“But that wasn’t the case. How would one live such life when you’re living in a room with ten women. That doesn’t mean there was no love among us.”

He had advised young filmmakers to start with the little resources available to them while working towards their dreams.

 

-Guardian

 

 

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Court adjourns Ganduje’s corruption trial to April 15

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A Kano State High Court has adjourned until April 15 the trial of former governor Abdullahi Ganduje, his wife, Hafsat Umar, and son, Abdullahi Umar, alongside five other defendants, over alleged misappropriation of public funds amounting to billions of naira.

 

The defendants are facing an 11-count charge bordering on bribery, conspiracy, misappropriation, and diversion of public funds. The remaining accused persons are Abubakar Bawuro, Jibrilla Muhammad, Lamash Properties Ltd, Safari Textiles Ltd, and Lasage General Enterprises Ltd.

At the resumed hearing, the prosecution told the court it was ready to proceed and drew attention to a motion dated November 24, 2025, seeking leave to file additional proof of evidence.

However, defence lawyers raised objections, informing the court that multiple applications were pending and must be resolved before the trial could continue.

Lydia Oluwakemi-Oyewo, counsel to some of the defendants, said the defence had filed a motion dated July 17, 2025, seeking a stay of proceedings.
Adekunle Taiye-Falola, representing the third and seventh defendants, also referred to a separate motion dated May 23, 2025.
In addition, Muhammad Shehu, counsel to the fifth defendant, told the court that an affidavit had been filed notifying it of a pending application for stay of proceedings before the Court of Appeal.
Abubakar Ahmad, counsel to the sixth defendant, informed the court that he had filed a notice of preliminary objection and an application for extension of time to respond on points of law dated February 2, urging the court to fix a date for hearing.

Only Faruk Asekome, counsel to the eighth defendant, indicated readiness to proceed with the trial.

After hearing arguments from both sides, the presiding judge, Justice Amina Adamu-Aliyu, adjourned the matter to April 15 for the hearing of all pending applications and preliminary objections.

The trial has suffered repeated delays due to legal challenges. The high court had earlier dismissed preliminary objections raised by the defence as “incompetent” and affirmed its jurisdiction to hear the case.
That ruling was appealed by the defendants, who argued that the trial court lacked jurisdiction. However, in October 2025, the Kano Division of the Court of Appeal struck out the appeal, citing failure to properly transmit the record of appeal.

-Guardian

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