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...

SOUTH EAST DEVT COMMISSION WILL END IGBOS CRY OF MARGINALIZATION- IFEANYI UBAH. (PHOTO).


 South East Devt Commission will end Igbos cry of marginalization – Ifeanyi Ubah


The Senator representing Anambra South, Ifeanyi Ubah, has said that the newly passed South East Development Commission Bill will assuage the feeling of marginalization among the Igbo.


Ubah, in a press release he signed, which was made available to newsmen in Awka, Anambra State capital, thanked the Senate for passing the bill, saying it is a crucial step towards addressing the needs of Ndigbo.


The bill was first introduced to the present 10th Senate by Ubah, and later passed through first reading on Wednesday, October 4, 2023.


Ubah commended the Senate for working tirelessly to ensure that the bill process was not discontinued after its first reading and for diligently working to ensure its passage.


He said: “I appreciation the Senate on behalf of the South East Senators and Honourable Members. The South East Development Commission Bill is important in addressing the developmental challenges faced by the South East region of Nigeria.


“I emphasize the need for targeted interventions to promote economic growth, infrastructure development, and social welfare in the region.”


He reiterated that the Commission would not only put the perceived marginalization of the South East to an end but would also, when signed into law, enable the zone to benefit directly from Federal Government intervention programmes which are already being enjoyed by other zones like the South-South and North East through the Niger Delta Development Commission and North East Development Commission, respectively.


He noted that the Federal Government is committed to the development of all regions of the country, adding that he is confident that the Senate would prioritize the implementation of the bill when signed into law by ensuring that the Commission is effectively established and empowered to fulfil its mandate.

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