Five things to know to start your Saturday

Nigeria joined BRICS as a partner country

Brazil’s government has announced that Nigeria will join the multinational BRICS bloc as a partner country.

Brazil, which will hold the bloc’s presidency in 2025, made this announcement on Friday. It emphasised Nigeria’s active role in international cooperation and noted that the African nation has been “strengthening cooperation in the Global South and reforming global governance,” which aligns with Brazil’s own priorities.

Brazil’s Foreign Ministry, known as Itamaraty, said: “As the 6th largest population in the world and the 1st on the African continent, as well as one of the largest economies in Africa, Nigeria has converging interests with the other members of the group.”

Nigeria now joins eight other nations as BRICS partners, with these existing partner countries primarily spread across Latin America, Eastern Europe and Asia.

Petrol prices jumped after Dangote announced a hike

Petrol prices in Nigeria have increased to between N1,050 and N1,150 per litre, varying by location. This rise follows price increases by the Dangote Petroleum Refinery and various depot owners.

Dealers say petrol prices will keep rising because crude oil, the main component in fuel production, continues to increase in cost.

The Dangote Petrochemical Refinery raised its petrol price from N899 to N955 per litre at its loading gantry on Friday. In an email to customers, the refinery announced new pricing tiers: buyers purchasing between two million and 4.99 million litres would pay N955 per litre, while those buying five million litres or more would pay N950 per litre.

This represents a 6.17 per cent increase from the N899.50 per litre holiday discount offered last December. The refinery’s notice, titled ‘Communication on PMS Price Review’, stated these changes took effect from 5:30 pm on Friday.

Read Also: Petrol pump price jumps to N1150 after Dangote hike

TikTok may sunset its US operations tomorrow

TikTok has announced it will stop working in the United States on Sunday unless President Biden’s administration confirms that companies like Apple and Google won’t face penalties when the ban starts.

This announcement follows a Supreme Court decision that unanimously upheld a law banning TikTok in the US for national security reasons unless its Chinese parent company ByteDance sells it. The ruling puts the popular video app, used by 170 million Americans, in a difficult position just before Donald Trump returns to the presidency on Monday.

“Unless the Biden Administration immediately provides a definitive statement to satisfy the most critical service providers assuring non-enforcement, unfortunately, TikTok will be forced to go dark on January 19,” the company stated.

Companies including Apple, Google, and Oracle risk large fines if they continue providing services to TikTok after the ban begins.

Israel’s cabinet approved a Gaza ceasefire accord

Israel’s cabinet has approved an agreement with Hamas for a ceasefire and hostage release in Gaza, according to Prime Minister Benjamin Netanyahu’s office. The deal is set to begin on Sunday.

The government spent over six hours meeting early Saturday to approve this agreement, which could lead to an end of the 15-month war in Gaza, where Hamas is in control.

“The Government has approved the framework for the return of the hostages. The framework for the hostages’ release will come into effect on Sunday,” Netanyahu’s office announced in a brief statement.

Despite the ceasefire deal, Israeli warplanes have reportedly continued intense attacks on Gaza. According to Reuters, on Saturday morning, medics in Gaza reported that an Israeli airstrike killed five people sheltering in a tent in the Mawasi area west of Khan Younis in southern Gaza.

Since the agreement was announced on Wednesday, Israeli bombardment has killed 119 Palestinians.

Umahi said N800bn can’t fix Nigeria’s bad roads

The Minister of Works, Dave Umahi, said that the N800bn allocated to his ministry in the 2025 budget proposal isn’t enough to fix Nigeria’s roads.

Umahi, who previously served two terms as governor of Ebonyi State, made this statement during a 2025 budget defence session with the House Committee on Works on Friday.

He asked the committee to consider increasing the ministry’s budget allocation for 2025. “We plead with you to help us. N800bn cannot do anything for us. It cannot address our road needs and so we plead with you to help us,” Umahi said.