• Thursday, December 07, 2023
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Five things to know to start your Monday


Nigerians spent $340m on foreign university applications in six months, says CBN

Nigerians seeking admission to foreign universities spent $340.84 million on applications in the first half of 2023, according to the Central Bank of Nigeria.

The figure decreased by 44.28 percent compared to the first quarter, raising concerns about the education sector. Delays in processing Form A led students to seek dollars from the black market due to a backlog of forex demand.

Experts suggest that investing in the local education sector can reduce the need for studying abroad.

FG to import €1.2m equipment for Eko bridge rehab, says Minister

Dave Umahi, Nigeria’s Minister of Works, has stated that €1.2 million worth of construction equipment must be imported to facilitate the rehabilitation of Eko Bridge in Lagos.

He made this announcement during a visit to several bridges in Lagos State. The technical nature of the Eko Bridge repair work requires the importation of this equipment.

The minister stressed the importance of maintaining the bridge and acknowledged issues with other ageing bridges. The rehabilitation is expected to be completed in 2024 with increased personnel and equipment on-site.

Edo refineries aim to boost Nigeria’s refining capacity

Simbi Wabote, the Executive Secretary of the Nigerian Content Development and Monitoring Board, stated that the Edo Refinery and Duport Midstream Refinery in Edo State are well-positioned to enhance Nigeria’s refining capacity to 1.5 million barrels per day by 2025.

These refineries have already placed a joint order for 300,000 barrels of crude and are currently producing various petrochemical products.

Wabote listed several projects, including Dangote and Bua Group refineries, as contributors to achieving this refining target.

Nigeria welcomes German investment in gas and minerals

German Chancellor Olaf Scholz expressed Germany’s willingness to invest in Nigeria’s gas and critical minerals during his visit to sub-Saharan Africa.

This marks his third visit to the region in two years, highlighting Germany’s growing interest in the energy-rich region.

Scholz welcomed Nigeria’s efforts to expand LNG capacity and discussed the potential for German companies to engage in the gas sector.

President Bola Tinubu encouraged German businesses to invest in pipelines and discussed gas-related issues.

Scholz also mentioned German interest in building railways in Nigeria to diversify from Chinese dominance in the sector.

Israel pounds Gaza’s north as it steps up ground assault

Palestinians in northern Gaza reported fierce air and artillery strikes early on Monday as Israeli troops backed by tanks pressed into the enclave with a ground assault that drew increased international calls for the protection of civilians.

Israeli air strikes hit areas near Gaza City’s Shifa and Al-Quds hospitals, and Palestinian militants clashed with Israeli forces in a border area east of the city of Khan Younis, in the enclave’s south, Palestinian media reported.

There was no comment from Hamas or the Israeli military on the fighting early on Monday. Reuters was not able to confirm the reports.

The bombardments came hours after Israel released images of battle tanks on the Palestinian enclave’s western coast, signalling a potential effort to surround Gaza’s main city two days after the Israeli government ordered expanded ground incursions across its eastern border. (Reuters)