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The Minister of State for Defence, Dr. Bello Muhammed Matawalle, disclosed that the Armed Forces of Nigeria require 200 million rounds of ammunition annually for their operations, costing the government at least $2 per ammunition.

He revealed this on Wednesday during the signing of a memorandum of understanding between the Ministry of Defence (MOD), Defence Industries Corporation of Nigeria (DICON), and the National Agency for Science and Engineering (NASENI) on the establishment of an ammunition production factory in Nigeria.

He blamed past governments for the nation’s failure to achieve self-sufficiency in defence production. “We have been travelling all over the world, and we see how local manufacturers are developing their countries. But unfortunately, Nigeria, for 60 years, has failed to build the institutions, but that has changed, and it will continue changing, inshallah.

Therefore, I make a promise to Mr President that as far as the MOD is concerned, before the expiration of his four years, I assure him that DICON will be exporting its military capabilities. All we need from all of you is prayers and your dedication. We shall look at it as our own baby, not just mine, but for all of us. Of course, if today we are achieving even 60 or 70% reduction in our military hardware and ammunition costs, considering that just the military requires about 200 million rounds of ammunition per annum, and when we include other paramilitaries and the police, we’re looking at about 350 million rounds of ammunition per annum.”

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A lady has revealed that having separate rooms is the first thing that ruined my marriage.

She said this although another person twitted that she support different rooms for married couples.

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Video of the last moments of late gospel singer Aduke Gold at a hospital for her s¥rgery has surfaced online.

The late singer was seen walking her way to the theatre in company of a medical practitioner.

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Starbucks (SBUX) shares have had a rocky time in recent years, most notably under Chief Executive Officer (CEO) Laxman Narasimhan, who was ousted Tuesday and will be replaced by Chipotle Mexican Grill (CMG) CEO Brian Niccol.

Since going public in 1992, Starbucks has had five CEOs, with founder Howard Schultz taking the reins three times. As the coffee chain grapples with lower revenue from declining U.S. same-store sales and intense competition from home-grown brands in China, Niccol — like Narasimhan a Starbucks outsider — will have to address an increasingly value-seeking consumer but also shares that fell about 22%during his predecessor's tenure.

Still, an investor in Starbucks at its initial public offering (IPO) would have done very well, substantially outperforming the S&P 500: The stock has risen to almost $96 a share Tuesday from the closing price when Starbucks went public on June 26, 1992, of $21.50 (now valued at 34 cents per share, adjusted for subsequent stock splits).

Here's how Starbucks shares did under each of its CEOs over the years:

Narasimhan’s stint at the company came as it battled headwinds including sliding sales, a frugal consumer, and a weak Chinese market, but also Middle East boycotts and the emergence of a new activist investor in the shape of Starboard shortly after a stake purchase by activist hedge fund Elliott Investment Management. Starbucks shares fell about 22% during his tenure, compared with the benchmark S&P 500, which rose about 37%. 

The man credited with building out Starbucks as a global multinational took over again after previous CEO Kevin Johnson retired. Under his latest round of leadership, Starbucks shares rose about 12%.

Kevin Johnson kept the company going through pandemic lockdowns and supply shortages. Shares under Johnson surged more than 55%.

Schultz came back to run the coffee chain after Jim Donald's departure. In this stretch, Starbucks shares rose almost fivefold.

Donald was ousted in 2008 as the chain struggled with overexpansion, slowing U.S. growth, and competition from the likes of McDonald's (MCD). Shares under Donald fell more than 25%.

The late Smith helped Starbucks to grow from 45 stores when he arrived as chief financial officer in 1990 to 9,200 stores globally by the time he retired. Under his tenure, the share price almost tripled.

Schultz bought out the company and expanded it. Between the company's June 26, 1992, listing until the end of his first stint, shares of Starbucks rose more than 10 times in value.

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