GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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NIGERIANS DON'T OBEY ROAD REGULATIONS-FASHOLA.

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     Minister of Power, Works and Housing, Mr. Babatunde Fashola, has berated Nigerians on road use. According to him, Nigeria roads became death traps because road regulations were not obeyed. The Minister, who spoke at a one-day public enlightenment on developments in the road sector, said that what would make a nation to be prosperous, was compliance on-laws and regulations. He stated that road construction were all over the country, adding that the usage of those road would determine how long they would last.Emphasizing on none adherence to road regulations, he said “all over the world, one common thread of prosperous societies is their level of compliance with laws and regulations. “So, in those societies, you will see trucks parked in proper parks, which creates jobs, and not on the highways, which impede access and opportunity.“In those societies, you will see trucks carrying specified tonnage of cargo because it protects the road, and allows for it to be used again and again.”Therefore, while the temptation to overload and carry more with one truck, against regulation and good practice may be appealing, it is ultimately a barrier to prosperity. “Such practices may provide cheap and perhaps corrupt riches and income, but they do more damage to the roads from which the cheap income is made.
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