By Ogungbayi Adeyemi S. | adeyemi@ddnewsonline.com
Editor, DDNews |
NIGERIA NEWS – Debate Over Tinubu Absence From UN General Assembly
President Bola Tinubu absence from United Nations General Assembly in New York continues to generate debate at home. The Presidency confirmed on Sunday Politics that Vice President Kashim Shettima will lead Nigeria delegation. Shettima arrived in New York this morning and held bilateral meetings on sidelines. Presidential aide said absence will not affect Nigeria role as Giant of Africa. Former Vice President Atiku Abubakar had earlier demanded explanation. Global leaders at assembly are focusing on wars in Gaza, Ukraine and Sudan, climate change, artificial intelligence governance and mounting economic pressures confronting nations.
NIGERIA NEWS – Federal Government Rules Out Immediate Electricity Tariff Increase
Federal Government has ruled out immediate increase in electricity tariffs despite liquidity challenges. Government said it has raised substantial funds towards settling backlog of debts owed to power generation companies and gas suppliers. Minister of Power said move is aimed at stabilizing power supply and restoring confidence in sector without placing additional burden on consumers. Industry analysts say decision may improve generation and reduce grid collapses.
NIGERIA NEWS – Maritime Sector Warns Nigeria May Lose Freight Earnings
Nigeria risks missing out on global maritime freight market despite controlling huge share of cargo destined for Africa. Stakeholders in Lagos said weak enforcement of Cabotage Act, inadequate financing from local banks, limited cargo guarantees and dominance of foreign-owned vessels hinder indigenous shipowners. They called for stronger enforcement, single-digit financing window and guaranteed cargo for local operators to build capacity and retain freight earnings that currently go abroad.
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AFRICAN NEWS – Africa Pushes For Value Addition In Shipping And Minerals
At ongoing Unstoppable Africa forum in New York, African leaders and business executives said continent must move beyond exporting raw materials and raw freight services. High-level roundtable on critical minerals chaired by Nigeria Minister of Solid Minerals stressed need for local processing of lithium and other minerals and for building indigenous shipping fleets. Participants said stronger cabotage enforcement and improved access to finance will help Africa retain value.
INTERNATIONAL NEWS – Military Support Deployed After Houthi Attacks On Saudi Arabia
Prime Minister confirmed this morning that military support was deployed after request following attacks on country from Iran-backed Houthis in Yemen. Government said support includes air defence assistance and intelligence sharing to protect critical infrastructure. The move comes as Houthis launched missile and drone attacks that heightened tension in Red Sea region. United States has also urged citizens to reconsider travel through West Asia.
INTERNATIONAL NEWS – Tensions Rise After North Korea Missile Launch
Security tension escalated overnight after North Korea launched short-range ballistic missile towards sea amid rising tensions with United States. South Korea and Japan said they are monitoring situation closely. Launch came hours after officials from United States and China met to establish bilateral working group on artificial intelligence and discuss export controls.
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GLOBAL NEWS – British Columbia Sues OpenAI Over Failure To Report Threats
British Columbia has filed lawsuit against OpenAI in United States federal court, claiming company failed to report to police violent comments made by user of its chatbot who later went on to kill several people and injure others. Lawsuit filed last night alleges chatbot did not flag threatening language to law enforcement. Case raises fresh debate about responsibility of artificial intelligence companies to report potential violence and about limits of content moderation.
STOCK EXCHANGE & EXCHANGE RATES NEWS – Naira Stable As Power Debt Plan And Frontier Return Lift Sentiment
Naira opened new week stable across official and parallel markets this morning with moderate gap between both windows. Market sentiment improved after Federal Government announced plan to settle power sector debts without immediate tariff hike and after FTSE Russell confirmed Nigeria return to frontier market status effective from market open today. External reserves remain at multi-year high. Equities market breadth improved last week with financial services dominating trading activity. Central Bank Monetary Policy Committee meeting begins today with decision expected tomorrow.
ENTERTAINMENT NEWS – Calvin Harris Recognised For Record Breaking Sao Paulo Show
Scottish musician Calvin Harris was recognised over the weekend after performing for massive crowd in Sao Paulo earlier this year, described as largest attendance for a DJ set by a single artist. Organisers and record keepers confirmed achievement this morning. Performance held in open field drew fans from across Brazil and international visitors. Harris described show as humbling experience and thanked fans for support.
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SPORTS NEWS – Simeone Warns Mourinho About Respect After Fiery Madrid Derby
Diego Simeone warned Jose Mourinho about crossing line with criticism after Atletico Madrid defeated Real Madrid in Sunday fiery Madrid derby. Match ended with narrow win for Atletico after intense second half. Mourinho had earlier delivered furious rant at referee over decisions. Simeone said respect for officials is important even in emotional games. Result leaves Atletico climbing table while Real Madrid look to recover in next fixture.
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