Brent rose above $81 per barrel on Monday as the global oil market responded to the latest aggressive sanctions on Russia’s oil industry by the United States.Nairametrics reported that after oil marketers in India and China got a wave of the sanctions on Friday, the global oil benchmark crossed $80 a barrel as they held emergency meetings to assess the situation.This is the highest price in more than four months, as U.S. sanctions on Russia and Iran project global oil prices to sour.The latest sanctions target large exporters of Russian oil, including those of Asia origin, insurance companies, and more…
Author: Oladi Samuel
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Nigerian President Bola Ahmed Tinubu arrived in Abu Dhabi on Sunday and promptly met with Femi Otedola, the chairman of FBN Holdings Plc.Upon his arrival in the United Arab Emirates, Tinubu was received by Sheikh Shakhboot Nahyan Al Nahyan, Minister of State in the Ministry of Foreign Affairs.The details of Tinubu’s meeting with the billionaire businessman have yet to be disclosed.FBN Holdings has been embroiled in a legal dispute with General Hydrocarbons Limited (GHL) following a failed loan transaction.According to a Nairametrics report, GHL’s request for a fresh $53 million loan and FBN Holdings’ subsequent denial sparked the legal battle…
The Nigerian economy has been projected to grow by 3.5% year-on-year (Y/Y) in 2025, an improvement from an estimated 3.2% year-on-year in 2024.This is according to the most recent NESG-Stanbic IBTC Business Confidence Monitor report, written by Dr. Olusegun Omisakin, Muyiwa Oni, and Dr. Shakirudeen Taiwo.The report attributes this positive outlook to a relatively lower headline inflation rate expected in the second half of 2024 (H2:24).The easing inflationary pressure, coupled with the waning effects of the government’s flagship policies on foreign exchange (FX) liberalization and the removal of fuel subsidies, is expected to stimulate economic activity.The authors wrote:“A relatively lower…
Nigeria’s entertainment industry has become one of the nation’s largest skill exports globally, thanks to its thriving music, film, and fashion sectors.The entertainment industry comprises Nollywood, the Afrobeat sector, broadcast shows, comedy, digital productions, fashion, and beauty.These industries have not only captured the attention of international audiences but also established Nigeria as a cultural powerhouse, influencing trends, styles, and sounds worldwide.Despite challenges like inflation and naira devaluation, the industry remains resilient and has grown to be valued at over $10 billion according to Ben Bruce, Founder of SilverBird Group.The Nollywood film industry alone is estimated at $6.4 billion, while the…
The United States is set to introduce changes to its H-1B visa program beginning January 17th, 2025.This update, announced by the Department of Homeland Security (DHS), seeks to promote fairness, transparency, and efficiency in the hiring process for skilled workers from abroad.The revisions are structured to benefit employers, employees, and advocacy groups, addressing long-standing concerns about fraud and streamlining the visa process.The final rules for the updated program were released in December 2024, with implementation scheduled for January 17th, 2025. Alongside the new rules, the U.S. Citizenship and Immigration Services (USCIS) will release a revised Form I-129 to reflect these…
International students seeking higher education opportunities in Turkey can now apply for the Turkey Government Scholarship for the 2025-2026 academic year.The scholarship is available to students from all countries pursuing bachelor’s, master’s, and Ph.D. degrees.There are no application fees or requirements to submit IELTS scores, making the process more accessible to a wide range of applicants.The application window for the Turkey Government Scholarship is officially open, allowing students to apply without the burden of application fees. The scholarship offers financial support for tuition, accommodation, health insurance, and monthly allowances, DAAD Scholarship informs.Students will also have the chance to participate in…
The Transmission Company of Nigeria (TCN) on Saturday attributed the power fluctuations experienced in parts of the country to line tripping, dispelling rumors of a national grid collapse.In a statement released by the TCN spokesperson, Ndidi Mbah, the company clarified that the national grid remained stable and operational throughout the day.The disruption was traced to the tripping of the Osogbo-Ihovbor and Benin-Omotosho transmission lines, which significantly impacted power supply to the Lagos axis.Mbah explained that the Osogbo-Ihovbor line tripped at approximately 1:41 PM, leading to a cascading effect that caused the Benin-Omotosho line to trip as well. This situation disrupted…
The Kogi State Government has committed over N7 billion to the upgrade of 88 additional Primary Healthcare Centres (PHCs) across the state.Governor Ahmed Ododo, represented by the state’s Commissioner for Health, Dr Abdulazeez Adeiza made this announcement on Saturday in Lokoja during the official handover of project sites to contractors.The governor noted that the new PHCs would complement the ongoing upgrade of 70 existing PHCs into functional Level-two facilities.According to him, the government’s investment underscores its dedication to improving the lives of citizens.“With the invaluable support of the World Bank, the Kogi State Government has committed more than N7 billion…
The Minister of Solid Minerals Development, Dr. Dele Alake, has criticised the N9 billion capital budget allocated to the mining sector in the 2025 budget, calling for an upward review.This was disclosed via his X page on Saturday.Alake revealed that he had submitted to the National Assembly (NASS) that the allocation was grossly “unacceptable” and inadequate to unlock Nigeria’s mining potential for the nation’s economic benefit.Unacceptable Allocation According to Dr Dele Alake, reforms in the mining sector in 2024 created 45,000 new jobs, up from 30,000 the previous year.He also highlighted that the 2024 revenue projection of N11bn was exceeded, with…
Germany has made significant changes to its immigration system, introducing new pathways for skilled professionals from around the world.The country is looking to address labor market gaps by welcoming international talent and offering more opportunities for foreign workers to build careers in Germany.These reforms aim to simplify the process, making it easier for skilled professionals to move to Germany and settle with their families.The revised immigration framework for 2025 includes the introduction of the “Opportunity Card,” a new visa option designed to attract workers without requiring a job offer. This is part of a broader effort to make it easier…