Headlines
Billions of Dollars Lost as Facebook Shuts Out 2.9bn Subscribers
The global economy lost billions of dollars as Facebook, WhatsApp, and Instagram went down at about 4.42pm on Monday.
According to NetBlocks, which tracks internet outages and their impact, the outage had already cost the global economy about $160m per hour.
Facebook stock had gone down by about 5.5 per cent. The Chief Executive Officer of Facebook, Mark Zuckerberg, also lost nearly $7bn since the outage began.
Facebook and its affiliates have 2.9 billion monthly active users. The shutdown is reminiscent of 2019, when Facebook shut down in its biggest outage till date (a 24-hour shut down).
For hours when navigating to Facebook, Instagram, and WhatsApp websites, a server error appeared, which indicated there was an issue with Facebook’s servers.
According to TechCrunch, users were also unable to send messages or load new content on the mobile apps for these platforms. Even Oculus, Facebook’s virtual reality platform, and Workplace, its business communication tool, were down.
It seems as though the outage was caused by a domain name server failing, the naming structure that forms the web’s infrastructure.
According to Independent, Facebook’s DNS problems were only a symptom.
It said, the system could not have broken down spontaneously, and it was likely that something had happened to the underlying infrastructure – a stray settings change, a physical outage at a server, or something else entirely – that has stopped it from working.
A Twitter user had tweeted that facebook.com was now up for sale. Twitter’s Chief Executive Officer, Jack Dorsey, had tweeted asking for the price of the domain.
The Punch
By Eric Elezuo
The Presidency has announce that President Bola Tinubu will be departing Abuja to (Wednesday) for Paris, France, on a ‘short working visit’.
A statement to the effect, signed and released by the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, was however silent on the shape of international relationship the working visiting the president was embarking on will take, but noted that Tinubu will use the ‘retreat’ to review his administration’s mid-term performance and assess key milestones, as well as review progress of ongoing reforms.
While acknowledging that the president will spend ‘about a fortnight’ on the trip, the statement added he would supervise administration while away.
The statement in details
PRESIDENT TINUBU TO EMBARK ON WORKING VISIT TO PARIS
President Bola Ahmed Tinubu will depart for Paris, France, today on a short working visit.
During the visit, the President will appraise his administration’s mid-term performance and assess key milestones.
He will also use the retreat to review the progress of ongoing reforms and engage in strategic planning ahead of his administration’s second anniversary.
This period of reflection will inform plans to deepen ongoing reforms and accelerate national development priorities in the coming year.
Recent economic strides reinforce the President’s commitment to these efforts, as evidenced by the Central Bank of Nigeria reporting a significant increase in net foreign exchange reserves to $23.11 billion—a testament to the administration’s fiscal reforms since 2023 when net reserves were $3.99 billion.
While away, President Tinubu will remain fully engaged with his team and continue to oversee governance activities.
He will return to Nigeria in about a fortnight.
President Bola Tinubu has sacked the Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari.
Tinubu also dissolved its board, removing the Chairman, Chief Pius Akinyelure.
Bayo Onanuga, Special Adviser to the President on information and strategy, announced this in a statement on Wednesday.
Onanuga said Tinubu invoked his powers under section 59(2) of the Petroleum Industry Act (PIA) 2021 to carry out the sweeping reconstitution, citing the need for “enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPC”.
He announced that Tinubu has now approved a new 11-man board, which has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman.
According to the statement, “Adedapo Segun, who replaced Umaru Isa Ajiya as the chief financial officer last November, has been appointed to the new board by President Tinubu.
“Six board members, non-executive directors, represent the country’s geopolitical zones. They are Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas( NLNG), who represents North Central.
“President Tinubu appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.
“Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.”
He added said that all the appointments are effective today, April 2.
President Donald Trump claimed on Monday that Americans want him to run for another term, a step banned by the US constitution but which he continues describing as possible.
“People are asking me to run,” Trump told reporters in the Oval Office when asked about the possibility of a third term.
“I don’t know. I never looked into it. They do say there’s a way you can do it, but I don’t know about that, but I have not looked into it,” Trump said.
Trump was asked about the prospect of a race pitting him against former president Barack Obama, who served two terms.
“That would be a good one, I’d like that,” Trump said.
“I’m not joking” about the idea of seeking a third term, Trump said Sunday in an interview with NBC News.
The 78-year-old Republican served from 2017 to 2021 and began his second term in the White House on January 20.
The first US president, George Washington, established a tradition by not seeking a third term after completing his second one in 1797.
But this tradition was not formally added to the US constitution until after World War II, with the ratification of the 22nd amendment in 1951.
It says no one can be elected president more than two times.
