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Nuclear Energy: Kogi, Chinese Govts Discuss Partnership

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Mr Cui Jianchun, Ambassador of the People’s Republic of China to Nigeria, says China is keen on exploring viable areas of partnerships with Nigeria, with interest in nuclear energy.

Cui made this known on Monday in Lokoja when he was received by Gov. Yahaya Bello of Kogi at the Government House, noting that the Kogi is a key state of interest for the partnership.

He said that his key interest as Ambassador was to facilitate China’s investment and also utilise China’s technology for the benefit of Nigeria and certain states like Kogi.

Newsmen report that Cui was accompanied by a delegation from the China National Nuclear Cooperation (CNNC).

Cui said he was hopeful that the meeting would birth a historical moment, where the CNNC would be able to establish one of its two Proposed Nuclear Power Plants (NPP) in the state.

He said that the establishment of a nuclear energy plant would further attract investment to the state, improve its infrastructure, tax revenue, job creation and attract vast social economic developments.

“China is a leading reference in areas of modern infrastructures amongst the international community.

“Although Nigeria and China have enjoyed good relationship and have achieved a lot, and states like Kogi could also benefit from China’s vested interest.

“In the areas of modern infrastructure, Information Communication Technology, industry, investments and import/exports opportunities.

“I am also hopeful that China, which is the world’s largest consumption market, could in the nearest future have a policy where Nigeria, particularly states like Kogi, could export more products into the Chinese market,” Cui said.

He said that the Embassy would also work towards establishing a department of Nuclear Energy at the Confluence University of Science and Technology, Osara, and other institutions in the state.

This, the envoy noted, will be part of the Embassy’s plans to nurture local breed in the field.

Cui also urged the Kogi government to, in a similar vein, encourage and facilitate some of its young engineering talents for exchange programmes in the country.

Gov. Bello exchanging souvenirs with Amb. Cui of China during the visit.


Responding, Bello thanked the ambassador for finding Kogi worthy of such recommendation, noting that the meeting s between two sincere governments who are both interested in the advancement of their peoples.

“I want to thank the Chinese government for finding Kogi State worthy for such huge investment and I appreciate you and your delegation for this auspicious visit.

“After the presentation I and the members of my cabinet were already very enthusiastic to internalise these plans in the state.

“And to foster the relationship with the Chinese government by engaging in every discussion in the interest of the people of the confluence state.

“I also want to guarantee you of a great relationship with the CNNC team with the state and the state would be glad to have a stronger tie with China,” the governor said.

Bello also urged the Chinese government not to relent in sharing their wealth of experience with the Nigerian nation in areas where the country was currently facing temporary difficulties.

Newsmen report that fielding questions from their Presentation, representatives of the CNNC noted that nuclear energy was a safe technology for humans, plants and the environment.

Newsmen also report that the nuclear plant, once established, would end the power challenge confronting the nation. (NAN)

Foreign News

Israeli-Iran War: Expert Outlines Risks, Upsides for Nigerian Economy

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An economist, Dr Muda Yusuf, says the outbreak of war between Israel and Iran portends a combination of risks and upsides for the Nigerian economy, amidst the challenges of an already floundering global economy.Yusuf, Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), made this known on Sunday in Lagos in a statement.

He noted that economies around the world currently grappled with elevated geopolitical tension triggered by the Russian Ukraine war and now the Israel -Hamas conflict.
The expert said that energy cost escalation, high interest rate implications and money supply growth were the risks of the conflict.He noted that a major driver of energy prices in Nigeria was the global crude oil price and with the outbreak of the Israeli-Iranian war, crude oil prices surged to 75 dollars per barrel from 65 dollars per barrel a week before.
“This is a 15 per cent jump within days and has obvious implications for petroleum product prices globally.“Economies around the world; Nigeria inclusive, would witness a surge in the price of petrol, diesel, jet fuel, gas and related products in the near term.“This would have far reaching implications for many economies and businesses,” he said.Yusuf added that there was a risk of high monetary growth with an increase in revenue from the oil sector.He noted that money supply increased in the Nigerian economy as oil revenue increases because of the monetisation of oil receipts.According to him, this can pose additional inflation risk and exchange rate depreciation risk.The economist noted that this might also provoke tighter monetary policy stance, which could result in difficult credit conditions for businesses.Yusuf, however, said the historically positive correlation between crude oil prices, Gross Domestic Product (GDP) growth, and stock market performance.He said the outlook for the Nigerian stock market was therefore likely to be positive in the current context.As upsides for the Nigerian economy, Yusuf asserted that should the current conflict persisted and escalated, the surge in crude oil price would impact foreign exchange earnings with oil being the biggest earner for the country.“This would even be more impactful if output performance improves.“Crude oil price has surged to $75 per which is about 15 per cent higher than before the outbreak of the Israeli–Iran conflict.“This development would also positively impact the country’s foreign reserves, ensure better foreign exchange liquidity and ultimately the stability of the naira exchange rate,” he said.Yusuf added that the development would also positively impact the country’s revenue as the oil sector currently accounted for about 50 per cent of government revenue.According to him, an improvement in crude oil price would therefore have a significant impact on government revenue.He added that improvement in revenue would positively impact fiscal consolidation and hopefully moderate the growth of the fiscal deficit.“Investments in the oil and gas sector would post better returns if the conflict persists.“High oil price is good news for upstream oil and gas investors,” Yusuf said. (NAN)

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Trump Tells Iran to Make Nuclear Deal ‘Before it is too Late’

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 U.S. President Donald Trump has called on Iran to conclude an agreement with Washington on its controversial nuclear programme, amid a series of Israeli strikes on nuclear facilities and military leaders.

“There is still time to make this slaughter come to an end,” Trump wrote on his social media platform Truth Social on Friday.

“Iran must make a deal, before there is nothing left, and save what was once known as the Iranian Empire,” Trump continued.

“JUST DO IT, BEFORE IT IS TOO LATE.”

Observers consider it unlikely that Iran’s leadership would opt for a diplomatic approach in light of the Israeli attacks.

Israeli media reported that Tehran had retaliated with an attack involving about 100 drones, all of which were shot down.

“I gave Iran chance after chance to make a deal,” Trump wrote.

“The U.S. makes the best and most lethal military equipment anywhere in the World, BY FAR, and Israel has a lot of it, with much more to come and they know how to use it,” Trump wrote. (dpa/NAN)

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Pope Leo Prays for Victims of Austrian School Shooting

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Pope Leo XIV said on Wednesday that he was praying for the victims of the mass shooting in a school in the Austrian city of Graz.

“I would like to express my prayers for the victims of the tragedy at the Graz school,” Leo said during his weekly audience in the Vatican.

Leo added that he is keeping the families, teachers, and fellow pupils in his thoughts.

According to police, a 21-year-old former pupil at the school entered the grounds on Tuesday and opened fire, killing 10 pupils aged between 15 and 17 as well as a teacher.

He then shot himself.

Eleven people remain in the hospital, most of them in intensive care.

All are now reported to be in a stable condition.

Graz, in south-eastern Austria, is home to around 300,000 people. (dpa/NAN)

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