News
UK stock markets suffered downturn, record most daily decrease in response to Trump tariff

London’s FTSE 100 plunged 4.95% on Thursday — its biggest daily fall since the March 2020 Covid lockdown — following Donald Trump’s sweeping new tariffs that have triggered global market turmoil.
Major UK firms bore the brunt, with Rolls-Royce shedding over 10% and miners like Antofagasta, Glencore, Fresnillo, and Anglo American down more than 8%. Banks also slid, with Barclays and NatWest both falling around 8%.
Markets across Europe and Asia also slumped for a second day. France’s CAC 40 dropped 0.92%, Germany’s DAX 0.74%, while Japan’s Nikkei 225 fell 4.3%. In the US, the S&P 500 and Nasdaq dropped over 4% and 5% respectively, wiping out £1.5 trillion in value.
Trump’s announcement of 10% tariffs on most US imports — and 25% on cars — has rattled investors.
“Trump has detonated the most aggressive trade shock the market has seen in decades,” said Stephen Innes of SPI Asset Management.
Olu Sonola of Fitch Ratings warned: “Many countries will likely end up in a recession.”
Despite market chaos, Trump remained bullish: “The markets are going to boom.” He also claimed UK Labour leader Sir Keir Starmer was “very happy” with the tariffs.
But Starmer responded: “Last night the President of the United States acted for his country, and that is his mandate. Today, I will act in Britain’s interests with mine.”
The UK government has set a May 1 deadline for public consultation on retaliatory tariffs and published a list of potential US goods to be targeted. Business Secretary Jonathan Reynolds said: “We do reserve the right to take any action we deem necessary if a deal is not secured.”
China has responded to the US move with 34% tariffs on American goods from April 10 and new export controls on rare-earth metals. Its Commerce Ministry said the goal is “to better safeguard national security and interests.”
The global sell-off reflects deepening fears of a full-blown trade war — and thousands of UK jobs, especially in the car industry, are believed to be at risk.
News
Zed-Faith Foundation Donates Food, Medical Supplies to Orphanage, Elderly Homes in FCT

By Kayode Sanni-Arewa
In a bid to ease the impact of rising food prices and economic hardship, the Zed-Faith Foundation International has donated food items and medical supplies to Ark of Refuge Orphanage and Old People’s Home in Kado, Abuja.
The items were distributed over the weekend by representatives of the Foundation on behalf of its Founder and Chairman, Amb. Daniel Onyeka Newman, a UK-based Nigerian and Chief Executive Officer of SBI.
The Foundation’s Media Consultant, Amb. Victor Atewe, who led the delegation, said the donation was a personal initiative by the Chairman and not funded by government or external bodies.
“These items are intended to directly support the children and elderly, and we trust they will be used solely for that purpose,” Atewe said.
He added that the Foundation plans to continue its outreach efforts across the country, noting that the economic situation has made daily survival increasingly difficult for vulnerable groups.
The Foundation also used the occasion to urge the federal government to collaborate more with credible non-governmental organisations in supporting disadvantaged populations, especially as inflation and food insecurity worsen.
Speaking on behalf of the Country Representative, Mr. Chinnaya Dominic Chikwado, the Foundation’s Administrative Officer, Mr. Udodirim Okorie, called on well-meaning Nigerians to support charitable causes and contribute to alleviating the burden on those most affected by the country’s economic crisis.
Representatives of the Old People’s Home and Ark of Refuge Orphanage expressed appreciation for the gesture, describing it as timely and impactful. They noted that such support helps bridge the gap in essential services for the elderly and children in their care.
“This donation will go a long way in meeting our daily needs.”
“We thank the Foundation for its continued support, especially during such challenging times.”
“Even the smallest gesture makes a big difference to those who have no one else to turn to.”
“We hope others are inspired to follow suit and remember those most in need.”
News
May Day: Senator Manu celebrates with Nigerian workers

The Senator representing Taraba Central Senatorial District, Manu Haruna celebrates May Day with Nigerian workers in Taraba and across Nigeria.
Senator Manu in a congratulatory letter to all Nigerian workers said:
“Your labour towards building a virile nation shall never be in vain as you celebrate May Day today in Nigeria and across the globe.
The former Taraba State Deputy Governor acknowledged the invaluable contributions of workers across various sectors and emphasized their crucial role in driving the nation’s development and progress.
He encouraged continued solidarity among workers while advocating for better working conditions, fair wages, and enhanced opportunities.
News
Ibas Pledges Commitment to Workers’ Welfare

The Administrator of Rivers State, Retired Vice Admiral Ibok-Ete Ibas, has reaffirmed his commitment to improving the welfare of workers across the state.
This assurance was given during a meeting with the leadership of organised labour unions held at the Government House in Port Harcourt.
According to a statement issued by the Senior Special Adviser on Media to the Administrator, Hector Igbikiowubo, the meeting served as a platform for open and constructive dialogue on critical labour matters.
The statement outlined key areas of intervention currently being addressed by the government.
These, he said, included the timely payment of salaries and pensions, as well as the resolution of salary arrears, with approval already granted for the payment of newly employed workers at the Rivers State University Teaching Hospital and the judiciary.
Similarly, he said medical workers in the local government areas would receive their proper wages.
He said the minimum wage was being implemented for all local government employees across the state.
The administrator also noted that his administration was currently reviewing challenges related to the contributory pension scheme, ahead of the July 2025 implementation deadline.
Ibas disclosed that plans were underway to expand the fleet of intervention buses reintroduced to ease the transportation burden of workers.
On capacity building, the administrator announced that specialised leadership training for senior civil servants would begin within the next two weeks.
He also revealed that the government was actively considering the implementation of the N32,000 consequential pension adjustment, along with measures to clear outstanding gratuities owed to retirees.
While commending workers for their dedication to service, he called for continued collaboration with labour unions to ensure lasting industrial harmony in the state.
According to the statement, the State Chairman of the Nigeria Labour Congress (NLC), Alex Agwanwor, expressed appreciation to the administrator for the steps already taken to promote workers’ welfare.
Agwanwor also lauded the government’s openness to dialogue and pledged the sustained support and cooperation of labour unions in achieving shared goals.
Meanwhile the NLC has directed its members in the state to observe the International Workers’ Day as a peaceful rally, which is expected to be held within the premises of the union, involving all affiliate unions, and would focus on advocating for the restoration of democratic governance in the state.
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