KEBBI GOVT DONATES 10 HILUX VEHICLES TO BOOST SECURITY ON SOKOTO–BADAGRY SUPER HIGHWAY. (PHOTOS).

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 Kebbi Govt Donates 10 Hilux Vehicles to Boost Security on Sokoto–Badagry Super Highway  The Kebbi State Government has handed over 10 brand-new Hilux vehicles to the Federal Ministry of Works to strengthen security for personnel working on the Sokoto–Badagry Super Highway project. The vehicles were formally received by the Minister of State for Works, Bello Muhammad Goronyo, who praised Kebbi State Governor, Dr. Nasiru Idris (Kauran Gwandu), for the donation. Goronyo described the gesture as a clear demonstration of the state government’s commitment to protecting workers and contractors on the strategic highway corridor. He explained that the vehicles will be deployed exclusively to security operatives providing cover for construction teams along the section of the super highway passing through Kebbi State. The Sokoto–Badagry Super Highway is a multi-state infrastructure project aimed at improving connectivity and economic activities across northern and southern Nigeria. More...
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OIL RISES AS UKRAINE WAR INCREASES SUPPLY WORRIES. (PHOTO).

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 Oil rises as Ukraine war increases supply worries


Oil prices rose on Tuesday as concerns about supply disruptions grew amid an escalation of the conflict between Russia and Ukraine. The market is also weighing whether the upcoming U.S. jobs data will lead to interest rate cuts. Brent crude added 37 cents, or 0.54%, to $68.52 a barrel by 7:17 AM WAT, while U.S. West Texas Intermediate crude was at $65.02 a barrel, up $1.01, or 1.58%.


WTI futures did not settle on Monday due to the Labor Day holiday in the U.S. This is as Reuters reported that the U.S. labour data is due this week ahead of the Federal Reserve’s September meeting, which could strengthen the case for monetary easing after surprisingly weak U.S. payrolls data released in July. On the supply side, recent Ukrainian drone attacks shut down facilities accounting for at least 17% of Russia’s oil-processing capacity, or 1.1 million barrels per day, according to Reuters’ calculations.


On Sunday, Ukraine’s President Volodymyr Zelenskiy said Ukraine plans new strikes deep into Russia after weeks of intensified attacks on Russian energy assets. Three-and-a-half years into the war, Russia and Ukraine have both intensified airstrikes in recent weeks. Russia has targeted Ukraine’s energy and transport systems, while Ukraine has been attacking Russian oil refineries and pipelines.


China’s vision for “a new global order” could potentially add to geopolitical tensions. Chinese President Xi Jinping pressed his vision on Monday for a new global security and economic order that prioritises the “Global South”, in a direct challenge to the U.S., during a summit that included the leaders of Russia and India. The country shipped 600,000 barrels of heavy crude by tanker on Monday. China and India are the biggest buyers of crude oil from Russia, the world’s second-largest exporter. Trump has imposed additional tariffs on India over the purchases, but not on China.

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