A prolonged period of oil prices above $100 per barrel could slow global economic growth and push inflation higher, the European Bank for Reconstruction and Development (EBRD) warned Thursday, as the Middle East conflict drives energy costs up. The EBRD, which was initially established to support former Soviet bloc nations’ transition to free-market economies before…
Volodymyr Zelensky on Thursday called on European countries to introduce legislation to block Russian “shadow fleet” vessels from operating in their waters and to seize associated oil cargoes. Speaking via video link to leaders of the Joint Expeditionary Force (JEF) meeting in Helsinki, Zelensky stressed the need for coordinated legal frameworks across Europe to restrict…
The United Nations General Assembly has adopted a resolution designating the transatlantic African slave trade as “the gravest crime against humanity,” despite opposition from the United States and some European nations. The resolution was passed on Wednesday with 123 votes in favour, three against, and 52 abstentions, drawing applause from delegates. The United States, Israel,…
The Organisation for Economic Co-operation and Development on Thursday downgraded its economic outlook for the eurozone, citing surging energy prices driven by the ongoing Middle East conflict. In its latest report, the OECD reduced its 2026 growth forecast for the currency bloc by 0.4 percentage points to 0.8 per cent. Growth projections for its two…
By Ayomide Otitoju Tensions in the Middle East have sharply escalated as Iran’s recent actions, including missile attacks and the closure of the Strait of Hormuz, prompted warnings from Gulf Cooperation Council (GCC) Secretary-General al-Budaiwi, who said Tehran has “overcome all red lines.” The United States threatened Iran with unprecedented military retaliation if it does…
By Ayomide Otitoju The Nigerian Electricity Regulatory Commission has inaugurated the Forum of Nigerian Electricity Regulators (FONER), a platform designed to enhance coordination and effectiveness in electricity regulation across the country. The announcement was made by NERC Chairman, Dr. Musiliu Oseni, during the first quarter 2026 Regulatory Meeting with State Electricity Regulators (SERs) in Lagos…
By Ayomide Otitoju Nigerian National Petroleum Company Limited Executive Vice President, Olalekan Ogunleye, has said that the ongoing crisis in the Middle East is creating commercial opportunities for Nigeria, as demand rises for its liquefied natural gas (LNG) cargoes. Speaking at the CERAWeek energy conference in Houston, Ogunleye highlighted Nigeria’s strategic advantage, noting its proximity…
By Ayomide Otitoju Eight worshippers were abducted during a church service in Omugo community, Ifelodun Local Government Area, Kwara State, with terrorists reportedly demanding a ₦1 billion ransom for the release of five of the victims. The victims, members of the Evangelical Church Winning All, were taken during a service in the rural Oro-Ago axis,…
By Ayomide Otitoju JMG Limited has announced plans to host an Engineering Sustainability and Solar Adoption Walk as part of efforts to promote renewable energy and sustainable engineering practices in Nigeria. The initiative, scheduled to commence from the company’s head office in Lagos, will bring together engineers, industry stakeholders, and sustainability advocates to raise awareness…
