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Nigeria plans to tap 2 billion euros ($2.2 billion) this month or next of the money it raised in a eurobond sale last year and target more local borrowing in 2022 to help fund its costly petrol subsidies as oil prices rise, Finance Minister Zainab Ahmed told Reuters. Ahmed said the country will not tap the eurobond market this year. "Rising oil prices has put us in a very precarious position ... because we import refined products ... and it means that our subsidy cost is really increasing," she said on the sidelines of an Arab-African conference in Cairo. Nigeria's…
The national electricity grid suffered a system collapse on Tuesday — the second incident within two days. The grid had collapsed on Monday at 10:40am leading to power outage across the country. In a message to its customers, Ikeja Electric said the grid collapsed at about 5:10pm on Tuesday. “This is to inform you that the outage you are currently experiencing is due to the system collapse on the national grid which occured today at 17:10hrs and this has affected the Transmission Stations within our networks,” the message, which was posted on Twitter, reads. “Kindly bear with us as we…
Fighting for Kyiv has intensified, with artillery fire echoing through the city. Russia launched a flurry of strikes that early Tuesday blew out windows and ignited a huge fire in a 15-story apartment building apartment in western Kyiv, spurring a frantic rescue effort. Zelenskyy said barrages also hit four multi-story buildings, killing dozens of people. Explosions around the city caused significant structural damage, with shockwaves from a blast tearing through the entrance of a downtown subway station that residents have used as a bomb shelter. SHOWING SUPPORT FOR UKRAINE The leaders of Poland, the Czech Republic and Slovenia traveled to…
Peace talks between Russian and Ukrainian delegations via a video link resumed on Tuesday. Ukrainian officials played up hopes the war could end sooner than expected, saying Moscow may be coming to terms with its failure to impose a new government on Kyiv by force. In a hint of compromise, Ukrainian President Volodymyr Zelenskiy said Kyiv was prepared to accept security guarantees that stop short of its long-term objective of membership of the NATO alliance, which Moscow opposes. POSITIVE SIGNS Zelenskiy, who has won admiration in the West for his leadership under fire, called on Russian troops to surrender. “You…
The national electricity grid suffered a system collapse on Monday, leading to power outages across the country. The development comes as Nigerians are experiencing epileptic power supply and a hike in fuel prices. The grid is infamous for experiencing disruptions, having collapsed in February, May, July and August 2021. Electricity distribution companies (DisCos) in the country said the recent collapse of the grid occurred at 10:40am and disrupted power supply within their networks. On the basis of the development, Eko Electricity Distribution Company Limited (EKEDC) apologised to customers and promised to keep them updated on the situation. “Dear esteemed customer,…
Parent-Teacher Association of Nigeria has appealed to the Federal Government and the Academic Staff Union of Universities to as a matter of urgency resolve the issues leading to ASUU’s strike so that students can go back to school. Speaking in an interview with our correspondent, National President, PTA, Danjuma Haruna, said an additional two months strike would have devastating implications on the education sector. He said, “It will have devastating implications on the education sector in the 36 states of Nigeria and the Federal Capital Territory. We call on both ASUU and representatives of the Federal Government to go back…
Russian troops refocused their efforts to seize Kyiv on Monday, firing artillery on suburbs, which have seen some of the worst conflict during Russia’s stalled attempt to take the capital. A local official said a town councilor for Brovary, east of Kyiv, was killed in fighting there. Two people were killed when artillery hit a nine-story residential building in a northern district of the city early Monday, destroying apartments on several floors and igniting a fire. Ukrainian authorities said two more people died and seven were injured after Russian forces struck an airplane factory in Kyiv, sparking a large fire.…
United Nations Secretary-General Antonio Guterres on Monday sounded the alarm over Russia raising the alert level for its nuclear forces after invading Ukraine, describing it a “bone-chilling development.” “The prospect of nuclear conflict, once unthinkable, is now back within the realm of possibility,” Guterres told reporters, and repeated his call for an immediate cessation of hostilities. Russia’s invasion of Ukraine that began on Feb. 24 has so far sent more than 2.8 million people fleeing across Ukraine’s borders and trapped hundreds of thousands in besieged cities while triggering broad Western sanctions on Russia. Russian President Vladimir Putin late last month…
Tuesday, 15 March 2022 06:15

What does Russia buy from China?

Russia’s invasion of Ukraine has triggered sweeping US and European sanctions, but China has vowed to continue trading with Moscow as normal and maintains the country is its “most important strategic partner.” China is Russia’s top trade partner, for both imports and exports. In the first two months of this year, China’s exports to Russia surged by more than 40% compared with 2021, and its imports from Russia increased by nearly 36%. In 2021, Russia imported around $73 billion worth of products from China, which accounted for roughly a quarter of the value of Russia’s total imports, according to the…
Ukrainian officials said at least 35 people were killed and 134 wounded Sunday when more than 30 cruise missiles were fired at the Yavoriv military range, just 25 kilometers (15 miles) from the Polish border. The training base appears to be the most westward target struck so far in the 18-day invasion. The facility, also known as the International Peacekeeping and Security Center, has long been used to train Ukrainian military personnel, often with instructors from the United States and other NATO countries. The base has also hosted international NATO drills. The site symbolizes what has long been a Russian…
June 05, 2025

Nigerian Stock Market extends bull run with N483bn two-day gain

The Nigerian stock market has demonstrated remarkable resilience with a sustained upward trajectory over two…
June 02, 2025

Afenifere blasts Tinubu: ‘Midterm report shows woeful failure, economic deforms, and rising despair’

The pan-Yoruba socio-political organization, Afenifere, has issued a scathing midterm assessment of President Bola Tinubu’s…
June 05, 2025

This is the process that lets managers get the best out of their team

Frans Van Loef What does it mean to be a manager? In today’s world, managers…
May 31, 2025

Tools made of whale bones reveal inventiveness of prehistoric people

Artifacts found at archeological sites in France and Spain along the Bay of Biscay shoreline…
June 05, 2025

NCC warns DJs: Unlicensed music use could lead to 5-year jail term

The Nigerian Copyright Commission (NCC) has issued a stern warning to disc jockeys (DJs) against…
June 05, 2025

What to know after Day 1197 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Kiev regime ‘not interested in peace,’ turning to terror, suffering ‘huge losses’ on…
June 02, 2025

Opportunities and challenges unveiled: How AI revolutionizes education and mental health support

Terence Ma Tin Shu Play time helps both kids and adults in prevention and healing…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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