Silvercloud Media

29/09/2025

The management of Arise News announced the death of Somtochukwu Christelle Maduagwu who tragically passed away in the early hours of Monday, September 29, 2025 following an armed robbery incident in her residence in Katampe area of Abuja.

She was a lawyer by profession, notable news anchor, reporter and producer at Arise TV

She died at the age of 29 years old, few months to her 30th birthday.

Born on December 26, 1995

Died on September 29, 2025

A tragic death of a promising youth making airwaves in the media.

Rest in peace Somtochukwu 😭

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26/09/2025

Top businesses that will boom in 2026. Check if you have an investment there!

#2026 #2026年成人式ご予約受付中

25/09/2025

Is AI an Enemy?

Watch how to leverage AI for your business advantage.

18/09/2025

Dangote Group Reaffirms Stand on DAPPMAN, Rejects N1.505trn Subsidy Demand

Dangote Petroleum Refinery has reaffirmed its position in the ongoing face-off with the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), insisting it will not succumb to what it terms a demand for a subsidy amounting to N1.505 trillion annually.

In a strongly worded statement signed by its management and dated September 17, 2025, the refinery said it stood by the publication it placed across several national newspapers and reputable online platforms on Monday, September 15. These included The Guardian, ThisDay, The Punch, Daily Trust, Nigerian Tribune, Daily Sun, Vanguard, The Nation, BusinessDay, Leadership, Daily Independent, and Blueprint.

Dangote Petroleum Refinery stated that any party dissatisfied with its position was at liberty to approach the courts rather than issue threats or ultimatums.

“We wish to emphasise that any party who feels aggrieved by the contents of the publication is entitled to seek redress through the appropriate legal channels, without recourse to any so-called seven-day notice. We are fully prepared to defend our position,” the statement read.

The Crux of the Dispute

The company explained that the heart of DAPPMAN’s sustained opposition was its insistence on an annual subsidy to cover additional logistics costs if products are delivered through coastal transport.

While Dangote offers products at its gantry price directly to marketers, DAPPMAN is demanding discounts to offset the cost of moving products via vessels from the refinery to Apapa depots.

Specifically, the marketers are requesting that Dangote Petroleum Refinery absorb N70 per litre in coastal freight, NIMASA, NPA, and other associated costs, along with N5 per litre in pumping charges into vessels.

Based on Nigeria’s daily projected consumption of 40 million litres of Premium Motor Spirit (PMS) and 15 million litres of Automotive Gas Oil (AGO), the refinery calculated the extra cost at N1.505 trillion annually.

“We have no intention of increasing our gantry price to accommodate such demands, nor are we willing to pay a subsidy of over N1.5 trillion, a practice that historically defrauded the Federal Government for many years. DAPPMAN and other marketers are welcome to lift products directly from our gantry and benefit from our logistics-free initiative,” Dangote stated.

Domestic Supply and Export

The refinery also underscored its capacity to meet Nigeria’s energy needs, pointing out that it maintains a monthly closing stock of 500 million litres of refined products in its tanks.

Between June and September 2025 alone, Dangote said it exported 3,229,881 metric tonnes of PMS, AGO, and aviation fuel. During the same period, marketers imported 3,687,828 metric tonnes of refined products into the country—an action the refinery described as “dumping” that harms both the economy and Nigerian citizens.

Commitment to National Reforms

Dangote Petroleum Refinery reiterated its support for the reform programmes of President Bola Ahmed Tinubu’s administration, stressing that it had already contributed significantly to stabilising the naira, cushioning the effects of subsidy removal, positioning Nigeria as a refining hub, boosting foreign exchange earnings, and creating employment opportunities.

The refinery also emphasised its cooperative relationship with relevant government agencies while maintaining its readiness to hold institutions accountable where necessary.

“Dangote Petroleum Refinery remains firmly committed to the progress and well-being of Nigeria, and is open to partnerships with patriotic and responsible stakeholders in pursuit of national development,” the company stated.

The company concluded by affirming that its stand against subsidy-style demands from marketers would not shift, describing such practices as part of the inefficiencies that undermined Nigeria’s energy sector for decades.

18/09/2025

Chairman United Bank for Africa( UBA) Mr Tony Elumelu confirms death of people in the fire accident that happened at Afriland property.

Other organizations like United Capital Plc and Federal inland Revenue Services have confirmed death of some workers during the fire accident.

It’s indeed a heartbreaking news as lives were lost.

17/09/2025

Tinubu Ends State of Emergency in Rivers, Restores Governor and Lawmakers

President Bola Ahmed Tinubu has announced the end of the six-month state of emergency in Rivers State, restoring democratic governance and directing Governor Siminalayi Fubara, his deputy Ngozi Nma Odu, and members of the State House of Assembly, led by Speaker Martins Amaewhule, to resume duties effective September 18, 2025.

The President, in a national address delivered from the State House on Tuesday, September 17, said his decision followed “a groundswell of new spirit of understanding, robust readiness, and potent enthusiasm on the part of all stakeholders in Rivers State for an immediate return to democratic governance.”

Tinubu recalled that the emergency was declared on March 18, 2025, after what he described as “a total paralysis of governance” in the oil-rich state, marked by deep divisions between the governor and a majority of lawmakers, vandalism of economic assets, and a legislative impasse that crippled government operations.

He explained that his proclamation, made under Section 305 of the 1999 Constitution as amended, had been necessary to prevent anarchy after efforts to mediate the conflict failed. The move saw the suspension of the governor, deputy governor, and all elected lawmakers for six months.

The President commended the National Assembly for approving the declaration, thanked traditional rulers and citizens of Rivers State for their support, and acknowledged dissenting voices that challenged the decision in courts across the country, noting that such legal actions were consistent with democratic practice.

Tinubu stressed that the intervention achieved its purpose, saying:

“I therefore do not see why the state of emergency should exist a day longer than the six months I had pronounced at the beginning of it. It therefore gives me great pleasure to declare that the emergency in Rivers State of Nigeria shall end with effect from midnight today.”

He urged political leaders across Nigeria to take lessons from the Rivers State crisis, reminding them that peace, order, and cooperation between the executive and legislature are essential for delivering the dividends of democracy.

“Let this realisation drive your actions at all times,” he told governors and lawmakers nationwide.

https://silvercloud.ng/tinubu-ends-state-of-emergency-in-rivers-restores-governor-and-lawmakers/

16/09/2025

Tom Kinyanjui Njoroge Selected as One of Africa’s Top Innovators for Africa Oxford Initiative Health Innovation & Entrepreneurship Fellowship

When Tom Kinyanjui Njoroge co-founded Neural Labs Africa, the vision was clear: to make medical imaging in African hospitals faster, more affordable, and more secure. What he did not imagine then was that this bold mission would one day carry him to the historic halls of the University of Oxford.

On 16th September 2025, he announced that he had been selected as one of ten African innovators chosen for the prestigious Africa Oxford Initiative Health Innovation and Entrepreneurship Fellowship. The fellowship, hosted at the Saïd Business School, University of Oxford, brings together Africa’s brightest minds in health technology with Oxford’s world-class research and entrepreneurial ecosystem.

On his professional page, he described the experience as more than just academic training. “This fellowship has been about more than knowledge; it has been about dialogue, co-creation, and building pathways where African challenges meet global expertise,” he said.

Representing NeuralSight™, the company’s AI-powered Picture Archiving and Communication System (PACS), he spent time with researchers and mentors exploring cutting-edge collaborations on artificial intelligence, privacy-preserving compression, and secure medical imaging for long-term, low-cost archiving in low- and middle-income countries (LMICs).

For many hospitals across Africa, access to advanced medical imaging tools remains a challenge—limited by high costs, outdated infrastructure, and poor data security. Neural Labs Africa’s innovation seeks to close this gap by offering a scalable solution designed for African realities, without compromising on quality or patient safety.

His journey also reflects a wider story: the rise of African-led innovation in healthcare. As he noted, the fellowship was as much about financial modelling, pitching, and strategy as it was about proving that African entrepreneurs can shape solutions with global impact.

“This experience reminded me that resilience and purpose can transform challenges into global opportunities. And that African innovation has the power not only to solve local problems, but to inspire the world,” he said.

The Africa Oxford Initiative Health Innovation and Entrepreneurship Fellowship is part of Oxford’s commitment to connecting African innovators with global networks, ensuring that homegrown solutions in healthcare get the support, knowledge, and visibility they deserve.

He expressed gratitude to the Africa Oxford Initiative team, Oxford faculty, Creo Incubator, and his fellow innovators, describing them as builders of ventures that will shape the future of healthcare across the continent.

16/09/2025

Kredete Secures $22M Series A Funding to Expand Stablecoin-Powered Money Transfers Across Africa

African fintech firm Kredete has announced the successful raise of $22 million in Series A funding, led by AfricInvest Group through its Cathay AfricInvest Innovation Fund and Financial Inclusion Vehicle (FIVE). The funding round also saw participation from Partech Partners and Polymorphic Capital.

In a statement released on its verified X (formerly Twitter) page, the company said the investment will accelerate its mission of building credit infrastructure and expanding stablecoin-powered transfers across more than 40 African countries.
Kredete noted that, over the years, it has supported millions of African immigrants by simplifying cross-border remittances, card payments, and secure savings. The latest funding, it added, would fuel its next phase of growth, scaling its stablecoin infrastructure to enhance global money movement for Africans.

“This raise fuels our next chapter as we expand our stablecoin infrastructure that powers global money movement for Africans everywhere, unlocking access, credit, and opportunity across 40+ countries,” the company said.

Kredete expressed appreciation to its team, partners, and investors, stating: “We’re just getting started.”

For many African immigrants, the journey abroad is not just about chasing personal dreams; it is also about supporting families back home. Every month, many send part of their hard-earned income across borders to pay school fees, cover medical bills, or put food on the table for loved ones. But these remittances often come at a heavy cost: high transfer fees, long delays, and the uncertainty of exchange rate fluctuations.

This is the challenge Kredete has been working to solve. And now, the company has announced a major step forward, securing $22 million in Series A funding to expand its credit-building infrastructure and stablecoin-powered money transfers across more than 40 African countries.

The funding round was led by AfricInvest Group through its Cathay AfricInvest Innovation Fund and Financial Inclusion Vehicle (FIVE), with additional backing from Partech Partners and Polymorphic Capital.

Over the years, Kredete has quietly become a lifeline for many African immigrants, making it easier for them to send money to their families, pay with cards, and save securely. With the new investment, the company plans to scale its stablecoin infrastructure, making cross-border transactions faster, more affordable, and more reliable.

“This raise fuels our next chapter as we expand our stablecoin infrastructure that powers global money movement for Africans everywhere, unlocking access, credit, and opportunity across 40+ countries,” Kredete said in its announcement.

The promise is huge. Stablecoins, digital currencies pegged to assets like the US dollar, could protect users from the instability of local currencies while cutting down transfer costs that eat into the funds families depend on.

For African immigrants, it could mean more than just convenience. A Kenyan nurse in the UK, a Nigerian engineer in the U.S., or a Ghanaian student in Canada, all sending money home, could soon find it cheaper and safer to support their families. For parents waiting for school fees or farmers relying on remittances to buy seeds, the impact could be life-changing.

Africa’s fintech sector has been one of the continent’s most vibrant success stories, and Kredete’s announcement is another signal that innovation is reshaping how Africans everywhere interact with money. But at the heart of this story are families, millions of them who may soon have an easier way to stay connected, supported, and hopeful.

Kredete boldly said in its message to investors and partners: “We’re just getting started.”

African fintech firm Kredete has announced the successful raise of $22 million in Series A funding, led by AfricInvest Group through its Cathay AfricInvest

15/09/2025

A popular Nigerian Chef Hilda Baci who broke the Guinness World record in a Cookathon has made history again in a new record attempt of the largest serving of Nigerian jollof rice.

Congratulations Hilda Baci

15/09/2025

Atiku Abubakar Raises Concerns Over Proposed Amendments to Petroleum Industry Act

Former Vice President of Nigeria, His Excellency Atiku Abubakar, has expressed strong reservations regarding the Federal Government’s proposed amendments to the Petroleum Industry Act (PIA) and the reported plans to divest significant stakes in key joint ventures within the oil and gas sector.

In a statement shared via his verified X (formerly Twitter) account, Atiku described the developments as “disconcerting,” warning that they could undermine Nigeria’s sovereignty over its most strategic resources if not managed with transparency and fairness.
Atiku reiterated his long-standing support for liberalisation and the revitalisation of state-owned enterprises, including through privatisation where necessary. However, he stressed that such efforts must be guided by transparency, national interest, and long-term strategic value rather than short-term gains.

He noted that the PIA was designed to bring clarity, accountability, and investor confidence to Nigeria’s oil and gas industry, which has long suffered from opacity and inefficiency. He cautioned that any attempt to alter its core provisions should be handled with extreme care and through broad stakeholder engagement.

The former Vice President specifically highlighted the reported plans to reduce the Federation’s stakes in joint ventures such as RAEC JV, Oando JV, and Seplat Energy JV. He raised concerns that the terms of such divestments appeared to disproportionately favour select insiders and foreign entities, a situation he warned could erode public trust, destabilise the sector, and compromise Nigeria’s energy security.

Atiku called on the Federal Government to ensure that any privatisation or equity divestment process is transparent, subject to competitive bidding, and open to rigorous public scrutiny. He emphasised that the overarching goal must remain the protection of Nigeria’s economic future and the equitable distribution of the benefits derived from the country’s natural resources.

“We must resist the temptation to pursue short-term gains at the expense of Nigeria’s national interest and long-term stability,” Atiku declared, urging policymakers to safeguard the nation’s sovereignty and energy security in all reform efforts

Former Vice President of Nigeria, His Excellency Atiku Abubakar, has expressed strong reservations regarding the Federal Government’s proposed amendments to

10/09/2025

NUPENG Suspends Strike After Dangote Bows to Workers’ Union Demands

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has called off its nationwide strike after Dangote Refinery agreed to recognise the rights of its employees to unionise. The truce, reached late Tuesday night, followed days of nationwide disruption and fears of a looming energy crisis.

How the Dispute Began

https://silvercloud.ng/nupeng-suspends-strike-after-dangote-bows-to-workers-union-demands/

09/09/2025

Uzodimma Insists Oil Companies Must Establish Offices in Imo State

he Imo State Government, under the leadership of Governor Hope Uzodimma, has directed oil-producing companies operating in the state to establish official addresses and offices within Imo.

Governor Uzodimma, speaking after a meeting with representatives of the companies, expressed concern that despite having seven oil-producing firms operating in Imo State, none currently has a registered office or operational address in the state. Instead, the companies maintain their headquarters in Lagos, where they remit Pay-As-You-Earn (PAYE) taxes.

The governor in a viral video, stressed that this arrangement has denied Imo State access to vital revenue, including PAYE taxes and proper oversight of the workers’ nominal rolls. He declared that the situation must change, as the state is determined to ensure it benefits fairly from the resources extracted within its territory.

According to Governor Uzodimma, relocating their official addresses to Imo will not only strengthen accountability but also enhance the state’s internally generated revenue (IGR) and allow for better collaboration between the government and the oil firms.

“We cannot continue to host oil operations in Imo while all the offices and tax remittances are domiciled in Lagos. Imo people must benefit directly from the activities of these companies operating in our land,” the governor stated.

The directive signals a bold move by his administration to enforce compliance, improve revenue mobilisation, and ensure that host communities and the state at large enjoy greater dividends from oil exploration and production.