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SpaceX shares soar 30% midday, vaulting it to top six most valuable U.S. companies

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SpaceX lifted off on its first day as a public company, immediately jumping to $150 a share after it began trading on the Nasdaq, around 11% higher than the $135 figure at which it officially priced its IPO on Thursday. The stock price reached as high as $176 in midday trading, pushing the company’s market capitalization to nearly $2.3 trillion, making SpaceX the sixth most valuable public company in the U.S.

The stock pop isn’t a surprise. The company’s IPO was oversubscribed by 4x, according to Bloomberg, meaning many institutional investors didn’t receive allocations and are likely buying shares on the open market.

The demand for SpaceX is also a function of its small float, with only about 4% of shares available for public trading, while early investors and employees hold the rest. SpaceX also successfully lobbied a number of indexes (like the Nasdaq 100) to change their inclusion rules. The company will now join those indexes in a matter of days, not months, increasing demand for SpaceX stock before other large institutions and funds start automatically buying it.

Robinhood said it has seen “record-breaking” traffic on its trading platform Friday in the hours after SpaceX’s historic public markets debut.

The debut is also one of the largest windfalls in the history of venture capital. The returns to Founders Fund, which invested $600 million in the company and owns a 3% stake, are estimated at more than $50 billion at the IPO price of $135, according to Bloomberg. Meanwhile, Andreessen Horowitz’s stake is worth more than $10 billion, and Sequoia’s is valued at over $20 billion.

Debuting at $150 made founder Elon Musk the world’s first trillionaire. The New York Times has reported that around 4,400 current and former SpaceX employees will become millionaires, while around 400 will become centimillionaires.

The original version of this article was published at 11 am ET. The article has been updated with a new share price and other information.

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Health

Nigeria targets expanded MMS coverage for pregnant women

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Nigeria is intensifying efforts to expand access to Multiple Micronutrient Supplements (MMS) for pregnant women, with health authorities pushing for increased local production and sustainable financing to reduce dependence on donor support.

The move was highlighted on Thursday in Abuja during a validation meeting on findings from the 2025 Market Landscaping and Segmentation Analysis.

Speaking at the event, Olufunmilola Adegbite, Director and Head of the Nutrition Department at the Federal Ministry of Health and Social Welfare, said strengthening domestic manufacturing would be crucial to achieving the country’s maternal health targets.

Director and Head of the Nutrition Department at the Federal Ministry of Health and Social Welfare, Olufunmilola Adegbite
Director and Head of the Nutrition Department at the Federal Ministry of Health and Social Welfare, Olufunmilola Adegbite

“Local production will be critical in achieving the country’s ambition for reaching pregnant women with MMS and ensuring long-term sustainability,” she said.

According to Ms Adegbite, local manufacturing would improve the availability of supplements, reduce dependence on imports, and protect supply chains from global disruptions.

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Six-state study

The 2025 market landscape analysis covered Lagos, Kano, Bauchi, Imo, Niger and Bayelsa, selected to reflect Nigeria’s diverse geographical zones and market segments.

Commissioned by the Federal Ministry of Health and Social Welfare in collaboration with Sight and Life and the development Research and Projects Centre (dRPC), the study examined financing systems and broader implementation requirements needed to support nationwide MMS scale-up.

Researchers assessed existing health financing mechanisms alongside key implementation enablers, including supply chains, regulatory frameworks and stakeholder engagement.

Why MMS matters

MMS are daily antenatal supplements containing iron, folic acid and other essential vitamins and minerals needed to support maternal nutrition and healthier birth outcomes.

Unlike conventional iron-folic acid supplements, MMS provide a broader range of micronutrients.

Evidence suggests the intervention can further reduce the risks of low birth weight, preterm delivery and other adverse pregnancy outcomes.

Ms Adegbite said Nigeria has made significant progress in aligning with global maternal nutrition standards.

According to her, MMS was approved for use in 2021, incorporated into the National Essential Medicines List and integrated into national guidelines on micronutrient deficiency control and antenatal care management.

“These achievements demonstrate Nigeria’s commitment to improving maternal and newborn nutritional outcomes,” she said.

Financing remains critical

Despite these policy gains, Ms Adegbite said considerable work remains to ensure effective implementation and wider access.

She identified sustainable financing as a major requirement for expansion, noting that mechanisms such as the National Health Insurance Authority (NHIA), the Basic Healthcare Provision Fund (BHCPF) and dedicated federal and state budget allocations could help support broader coverage.

She added that findings from the market analysis would provide evidence to guide policy decisions, investment priorities and implementation strategies.

Although progress has been made in institutionalising MMS, she said challenges persist in supply systems, regulation, financing and stakeholder coordination.

Concerns over donor dependence

In her remarks, the Country Manager of Sight and Life, Zainab Abubakar, said the study sought to identify sustainable pathways for financing MMS within Nigeria’s health system.

Ms Abubakar noted that inadequate funding, limited insurance coverage and heavy reliance on out-of-pocket spending continue to restrict access to maternal nutrition services.

“The research assessed the health financing landscape in Nigeria to identify viable pathways for sustainable domestic financing,” she said.

“It explored opportunities for resource mobilisation, evaluated potential funding mechanisms, highlighted implementation bottlenecks and developed context-specific recommendations.”

‘Women’s issues need funding’

Also speaking, the Special Adviser to the President on Health and dRPC board member, Salma Anas, called for stronger political commitment to maternal nutrition programmes.

Ms Anas said anaemia in pregnancy remains a major public health challenge and urged leaders to prioritise investments that benefit women and children.

According to her, programmes targeting women and children often struggle to attract adequate funding because they are incorrectly viewed as issues affecting only women.

“Every woman’s issue is a man’s business,” she said.

“Let us do away with the woman’s issue. Let’s budget it. Let’s release it and let it be used for the intended purpose.”

Background

Nigeria adopted MMS following global recommendations and growing evidence that the intervention provides greater nutritional benefits than traditional iron-folic acid supplements.

According to UNICEF, MMS contains 15 essential vitamins and minerals and has become the global reference standard for maternal micronutrient supplementation.

READ ALSO: Study ranks Lagos and Kano as the most ready for maternal supplement rollout

PREMIUM TIMES reported in 2024 that the federal government distributed about 1.3 million bottles of MMS to pregnant women across 12 states during the early phase of implementation.

UNICEF later announced that Nigeria would receive an additional 3 million bottles in 2025 through the Child Nutrition Fund, following the delivery of 3 million bottles in 2024.

However, with an estimated 12 million pregnancies recorded annually, stakeholders say existing supplies remain insufficient, highlighting the need for expanded coverage and stronger domestic investment.

They argue that shifting from donor-dependent supply chains to local manufacturing and market-based financing mechanisms will be essential to ensuring the long-term sustainability of MMS scale-up.

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Zoning: North wants Presidency in 2031, won’t vote Atiku in 2027 – Ex-ACF scribe, Sani

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Former Secretary General of the Arewa Consultative Forum, ACF, Anthony Sani, on Friday hinted that the North will not vote for the African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, in 2027.

Sani explained that the North believes in zoning and wants power back in 2031, hence would not vote Atiku in 2027.

Speaking with DAILY POST, the ACF scribe insisted that the South would like to finish its eight years term in alignment with the spirit of zoning.

According to Sani, the North would be accused of stifling the zoning arrangement if they vote for Atiku in 2027.

He said: “I have told you that the South would like to finish their eight years in spirit of zoning. As a result southerners would not vote for former VP Atiku.

“And because the North respects zoning and hopes to produce the President in 2031, northerners would not vote Atiku lest they be accused of stifling zoning.”

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