Day: May 23, 2018

Good news for Nigeria as crude oil nears $100

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Managers of Nigeria’s economy have every reason to smile, as Brent crude oil rose above 80 dollars a barrel on Tuesday, following concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply. Brent crude futures rose to $80.41 a barrel, by 11:12 a.m. EDT (1512 GMT). U.S. West Texas Intermediate (WTI) crude rose 59 cents to 72.83 dollars a barrel. The U.S. government imposed new sanctions on Venezuela following Sunday’s re-election of President Nicolas Maduro. This is a move that analysts say…

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Panama mulls embassy in Nigeria

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President Juan Carlos Varela of Panama has said that his country would soon open an Embassy in Abuja. The decision to open the embassy was taken to cement the relationship between Panama and Nigeria. Varela unveiled the plan while exchanging views with Nigeria’s Ambassador to Mexico, Mr. Aminu Iyawa, who presented his letter of credence as a non-resident Ambassador to the Central American country. Varela said opening an Embassy in Nigeria was particularly important, being the most influential and the most populous country on the African continent. The President said…

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South Korea to assist Africa industrialize

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South Korea government has committed to assist the African nations to achieve rapid industrialisation by facilitating the growth of smart infrastructure in the continent. The country is also committed to facilitating development financing, knowledge sharing programmes and private sector partnerships to boost industrialisation in Africa. Korea’s Deputy Prime Minister Yeon Kim, said at the formal opening of the Annual Meetings of the African Development Bank (AfDB) in Busan, a port city and second largest city of the country. He said in spite of strong evidence of Africa’s flourishing growth and…

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Don’t expel Sub-Saharan migrants – UN

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The UN Office of High Commissioner for Human Rights (OHCHR) has advised the Algerian Government to stop collective expulsion of thousands of migrants, particularly from sub-Saharan Africa. Spokesperson for OHCHR, Ms Ravina Shamdasani, said the action by Algeria violated international human rights law. In early May, an OHCHR team visited several towns in neighbouring Niger where they interviewed 25 expelled migrants and other witnesses, who described how Algerian authorities had been carrying out mass round-ups. “What is particularly worrying is that most of the people we spoke to said that…

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Trump, Kim meeting uncertain

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U.S. President Donald Trump said the much anticipated meeting between him and North Korean leader, Kim Jong-Un at Singapore on June 12, is not yet certain. Trump, who held a bilateral meeting with his South Korean counterpart, Moon Jae-in, at White House, said he would be okay with whatever happens about the summit. North Korea had recently threatened to withdraw from the summit and giving conditions to the U.S. and South Korea before the meeting could go ahead. Trump said: “If it does, that will be great. It will be…

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Buhari: Where is electricity, after billions spent by Obasanjo, others?

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President Muhammadu Buhari on Tuesday said those who mismanaged Nigeria’s economy in the past, through fraudulent electricity projects and misuse of revenue earnings from oil, had no love for the country. ‘‘One of the former Heads of State was bragging that he spent more than 15 billion dollars on power in Nigeria. Where is the power?’’ the President asked, without mentioning any name. The president stated this when he received members of the Buhari Support Organisations (BSO) led by the Comptroller-General of Customs, Col. Hameed Ali, at the Presidential Villa,…

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