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Nigerians React As Spotify Announces 17% Workforce Reduction (See Details)

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Music streaming giant Spotify announced on Monday that it will reduce its workforce by approximately 17% as part of a cost-cutting measure in response to a significantly slower economic growth environment….CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

 

 

 

In October, Spotify reported an unusual quarterly operating profit of 32 million euros, a positive shift from a loss of 228 million in the same period the previous year. This positive performance was attributed to a 26% growth in active users during the third quarter.

In a letter to employees, Spotify’s CEO, Daniel Ek, acknowledged the surprise factor of the sizable reduction, given the recent positive earnings report and growth. Ek explained that in 2020 and 2021, the company took advantage of lower-cost capital, making substantial investments in team expansion, content enhancement, marketing, and new verticals. However, the company now faces a different economic landscape, and despite efforts to reduce costs in the past year, the current cost structure remains too large.

Since its inception, Spotify has made significant investments to fuel growth, expanding into new markets and venturing into exclusive content like podcasts. The company’s podcast investment alone exceeds one billion dollars. In 2017, Spotify had approximately 3,000 staff members, and this number tripled to around 9,800 by the end of 2022. Despite its success in the online music market, Spotify has yet to post a full-year net profit and has achieved occasional quarterly profits.

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2027 Election: Sowore’s AAC Writes Tinubu, Demands Aso Rock Venue, Food, Drinks.

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The African Action Congress (AAC) has written to President Bola Tinubu, requesting permission to use the Presidential Villa in Abuja for the inauguration of its Presidential Campaign Council ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

The party has also asked the Presidency to provide food, drinks and other logistical support for participants at the ceremony scheduled for November 11, 2026.

The requests were contained in a letter dated October 21, 2026, and signed by the AAC National Secretary, Oshiokhai Ikpeminioghena, Naija News reports.

In the letter addressed to Tinubu, the party explained that the proposed event was part of its preparations for the 2027 general elections.

“On behalf of the African Action Congress (AAC), I respectfully write to request approval to hold the inauguration ceremony of our Presidential Campaign Council on the 11th of November 2026 at the Presidential Villa, Aso Rock, Abuja, in preparation for the 2027 general elections,” the letter stated.

The party said its request was motivated by the need to promote multiparty democracy, political inclusion and equal treatment of political parties.

It also called on the Presidency to provide refreshments and other logistical assistance, citing arrangements it claimed had reportedly been extended to the ruling All Progressives Congress (APC) during a similar political engagement.

“In the spirit of multiparty democracy, political inclusiveness, and equal treatment of political parties, we also request the provision of food, drinks, and other logistical support for participants at the event, consistent with the arrangements reportedly extended to the All Progressives Congress (APC) for a similar political engagement,” the party said.

The AAC maintained that approving its requests would demonstrate the Presidency’s commitment to fairness and equal treatment of political parties, irrespective of their affiliation with the ruling party or the opposition.

“We believe that granting this request would demonstrate the Presidency’s commitment to fairness, equal access, and the principle that public institutions must serve all Nigerians without partisan discrimination,” the letter added.

The party further expressed hope that Tinubu would approve its requests and asked the Presidency to communicate the relevant procedures and conditions for securing authorisation.

“We look forward to your favourable consideration of this request and would appreciate information on the applicable procedures and conditions for its approval,” the letter stated.

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Breaking: Oyebanji Appoints Four New Aides In Fresh Government Shake-Up.

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Ekiti State Governor, Biodun Oyebanji, has appointed four officials to key positions covering power infrastructure, road development, airport affairs and transportation.....KINDLY READ THE FULL STORY HERE▶

The appointments were announced in a statement issued in Ado Ekiti on Tuesday evening by the governor’s Chief Press Secretary, Yinka Oyebode.

The development came hours after Oyebanji swore in the Secretary to the State Government, Prof. Habibat Adubiaro, and the Chief of Staff, Oyeniyi Adebayo, for another term in office.

Those appointed include Philip Atere, who will serve as Technical Adviser on Power Infrastructure, and Tope Fatukasi, appointed Technical Adviser on Road Infrastructure.

The governor also named retired Air Vice Marshal Sunday Makinde as Technical Adviser on Airport Matters, while Tajudeen Alingbolu was appointed Director-General of the Ekiti State Transport Agency.

According to the state government, the appointments take immediate effect and are aimed at strengthening the administration’s efforts to improve critical sectors of the state’s economy.

Meanwhile, during the swearing-in ceremony for Adubiaro and Adebayo, Oyebanji urged both officials to draw on the experience they gained during his first administration as they resume their responsibilities.

The governor stressed that his second term would demand greater commitment, discipline and accountability from public officials.

He also warned that he would not tolerate poor performance, urging members of his administration to demonstrate dedication to delivering on the government’s promises.

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We Will Fling The Country Into Political Crisis – Ex-NAHCON Chairman Warns Against Denying Tinubu Second Term.

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The immediate past chairman of the National Hajj Commission of Nigeria (NAHCON), Sheikh Abdullahi Saleh Pakistan, has warned that denying President Bola Tinubu a second term in office could plunge Nigeria into a political crisis.....KINDLY READ THE FULL STORY HERE▶

Pakistan gave the warning while addressing youth groups at his residence in Kano, where he argued that Tinubu should be allowed to complete two terms to ensure a smooth transfer of political power between the North and South.

He cautioned against opposing the president based solely on his regional background, insisting that such political sentiments could have serious consequences for the country’s future.

The former NAHCON chairman also attributed the emergence of banditry and the escalation of kidnapping to the administration of former President Muhammadu Buhari, arguing that Tinubu inherited major security challenges.

According to him, although Buhari inherited the Boko Haram insurgency, banditry and kidnapping became major security concerns during his tenure.

“If you look at insecurity used by some politicians to campaign, up to the time Buhari became president, there were no kidnapping cases in Zamfara, Kaduna, Sokoto and Kebbi states. Kidnapping started under Buhari. Of course, Buhari inherited Boko Haram insurgency, but banditry started under him,” Pakistan said.

He added that Tinubu inherited two major security challenges: kidnapping and the Boko Haram insurgency.

Pakistan further urged Nigerians to be fair to Tinubu, warning that attempts to deny him a second term because of his regional origin could undermine the country’s political stability.

“We have to be fair to Tinubu. The type of politics we are playing, where we reject somebody because of the region he came from, is dangerous. If we sustain this, we will suffer in the future,” he said.

He recalled Tinubu’s support for Buhari’s presidential ambition and his insistence that the former president should complete two terms despite concerns about his health.

Pakistan argued that efforts to prevent Tinubu from securing a second term could create a precedent that would make it difficult for future northern presidents to serve two terms.

“The way Tinubu supported late Muhammadu Buhari and insisted that he completed his two terms, even though he was ill, and now some people are working hard to deny Tinubu a second term, we will fling the country into a political crisis in the future. Nobody will allow any northerner to take two terms,” he warned.

The former NAHCON chairman also claimed that security had improved under Tinubu, particularly on the Abuja-Kaduna road and railway corridor.

He said travelling between Abuja and Kaduna was extremely dangerous during Buhari’s second term, adding that attacks on the Abuja-Kaduna train had previously discouraged passengers from using the service.

According to Pakistan, the situation has improved to the point where travellers can now make the journey by road at midnight and arrive safely.

He also argued that food prices had dropped significantly under Tinubu compared with Buhari’s administration.

“Under Buhari, a bag of rice sold for ₦120,000, but today it is ₦57,500. It is less than half the amount under Tinubu,” he said.

Pakistan, who identified himself as a farmer, also recalled that a bag of millet sold for ₦85,000 during Buhari’s tenure but now costs about ₦30,000.

His remarks come amid growing political debate over Tinubu’s re-election bid ahead of the 2027 general elections.

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