Update:
Residents later pleaded with the suspected thiโฌf, assuring him they would not att@ck him. He eventually allowed them to come closer but refused to surrender the knife he was carrying๐ญ๐๐คฏ
Nigerians always adapting and never fixing the root cause.
We are all cowards!
No wonder yโall result to shouting at each other in every situation cos that what cowards do.
SA loves lecturing on human rights, but its "Rainbow Nation" is bleeding from violent xenophobia.
Instead of taking responsibility, Justice Minister @MamolokoKubayi falls back on the oldest hate.
While openly admitting she has "no evidence," she desperately spins wild conspiracies to mask government panic over a repeat of 2021.
Shameful scapegoating. No accountability.
https://t.co/ugDuMtwTF2
The Largest U.S. Consulate Facility in the World Is Gradually Coming to Life in Lagos!
The new U.S. Consulate compound in Lagos continues to take shape, with visible progress highlighting the scale and ambition of this landmark project. Once completed, the facility is expected to serve as a major diplomatic and consular hub, strengthening ties, supporting visa services, and enhancing cooperation between Nigeria and the United States.
This photo captures another important milestone in the construction journey as the structure gradually rises and becomes a prominent feature of the Lagos skyline.
Projects of this scale not only reshape the physical landscape but also reflect the growing global importance of Lagos as a commercial, diplomatic, and economic center.
๐จ EVERYTHING THAT COULD GO WRONG FOR MARKETS WENT WRONG TODAY.
S&P 500 down -1.65%, wiping out $1.14 trillion.
Nasdaq down -2.60%, wiping out $1.11 trillion.
Gold down -3.38%, wiping out $1 trillion.
Silver down -6.9%, wiping out $280 billion.
Bitcoin down -6.31%, wiping out $80 billion.
In total $2.5 TRILLION wiped out in a single session. These were not isolated moves. Everything started breaking at the same time.
It started with the jobs report this morning.
The US economy added 172,000 jobs in May. Wall Street expected 88,000. That is almost double.
On any normal day, strong jobs is good news. But inflation is already at 3.8% and oil is sitting at $90. A labor market this strong tells the Fed it cannot cut interest rates and may actually need to raise them.
The probability of a rate hike this year went from 40% to 57% in a single day. That spooked every investor holding tech and growth stocks because higher rates mean those stocks are worth less today.
Then the AI trade started cracking.
Yesterday Broadcom reported record earnings: revenue up 48%, AI chip sales up 143% and the stock still crashed 12.6%. The reason was simple.
Broadcom did not raise its AI revenue targets for the year. Investors had expected it to. That single miss made people ask a question they had been avoiding for months: are we paying too much for AI stocks?
That question got louder today when a research firm called SemiAnalysis revealed that Nvidia's next-generation AI chips will need significantly less memory than everyone assumed, roughly half of what the market was pricing in.
Memory chips are what companies like SK Hynix and Samsung make. SK Hynix fell nearly 10% today. Samsung fell over 6%.
South Korea's entire stock market crashed 5.5% in a single session. Japan's semiconductor stocks did the same.
And then Anthropic added fuel to the fire by publishing a report warning that AI is getting close to the point where it can improve itself without human help and calling for a global pause in AI development.
Coming on the same day as the memory demand news and Broadcom's miss, it fed a single growing fear across the market: what if the AI boom is moving faster than the business models can keep up with?
Underneath all of this, there is a liquidity problem nobody is talking about.
SpaceX goes public next week at a $1.75 trillion valuation. Anthropic just filed to go public. OpenAI is next.
These three companies together are worth $4 to $5 trillion. Fund managers need cash to buy into these listings.
But cash levels are already at their lowest since early 2024. The only way to raise cash is to sell what they already own. That selling is happening right now.
The new Fed Chair Kevin Warsh will also hold his very first policy meeting in 11 days. He was appointed by Trump with the expectation of cutting rates.
He is now walking into a situation where inflation is high, oil is high, and the job market is running hot. Investors do not know what he will do.
When nobody knows what the most powerful central banker in the world will decide in less than two weeks, the safest move is to reduce risk today.
Everything that could go wrong, went wrong at the same time. A hot jobs report, a collapsing ceasefire, a crack in the AI trade, a trillion dollar liquidity drain, and a Fed meeting with no clear outcome.
Every Easterner in Nigeria need to be wary of that upcoming BBC documentary called โSurviving Biafraโ.
The title on its on its a red flag.
This is going to be laced with the most unimaginable, dangerous propaganda ever known to man just to keep the failed project (Nigeria).