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Oil prices ease as investors track Venezuela fallout

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By Francesca Hangeior

Oil prices dipped Monday after the United States ousted Nicolas Maduro, leader of crude-rich Venezuela, raising the prospect that billions of barrels could be added to the global market in coming years.

Shares prices of defence companies and gold miners rallied on the new geopolitical risks in the wake of the US invasion, while prospects of more US interest-rate cuts this year and a booming technology sector lent additional support to equity markets.

The dollar traded mixed while gold, seen as a safe haven investment, jumped along with silver.

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The prices of Brent North Sea crude oil, an international oil benchmark, and the main US contract WTI were slightly lower after US forces seized Maduro on Saturday.

Leftist strongman Maduro, 63, faces narcotrafficking charges along with his wife, who was also seized and taken out of Caracas in the shock US assault that involved commandos, bombing by jet planes, and a massive naval force off Venezuela’s coast.

The oil market, which is currently oversupplied, “will likely absorb this short-term supply uncertainty, with a limited impact on oil prices”, said Helge Andre Martinsen, senior energy analyst at DNB Carnegie.

Trump said he wanted to allow American oil companies to head back into Venezuela to tap its massive crude reserves, boosting their share prices in limited trading Monday ahead of the Wall Street open.

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Venezuela has the largest proven oil reserves in the world, at around 303 billion barrels, according to OPEC.

But its output is very low because of a lack of investment in the country’s infrastructure.

The first full week of business for 2026 will also see the release of key US jobs data that could play a role in the Federal Reserve’s decision-making on borrowing costs.

But the stock gains in Asia and Europe on Monday suggest investors are brushing off worries that valuations in the tech sector have become stretched, amid doubts about the timing and size of returns on huge investments in artificial intelligence.

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Sparks Over ‘Cognate Legislative Experience’

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By Gloria Ikibah

Proceedings grew animated during debate on a motion by Rep. Jimi Benson seeking a precise definition of “cognate legislative experience” in the House Standing Orders.

Presenting the motion, Benson said the aim was to strengthen institutional memory and ensure experienced leadership within the chamber.

“The House notes that Order 7, Rule 15… states that only members with cognate legislative experience as members of the House of Representatives shall be eligible for appointment as principal officers of the House,” he said.

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He added that global parliamentary best practice supported reserving principal offices for seasoned lawmakers to promote continuity and competence.

“The House resolves to define cognate legislative experience as meaning members who have completed at least one full four-year term.

“Resolves to state unequivocally that there is no other definition to the term cognate legislative experience other than as stated”, he stated.

While the motion was seconded and adopted by voice vote, some members raised concerns about its necessity.

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Rising on a point of order, Rep. Bob Solomon argued: “Order 7, Rule 1, Sub-Rule 10 has already conferred on you the power to interpret the rules. You are there as an arbiter. This motion is totally redundant.

“What it means is that we are amending our rules for you to be able to exercise that power… You are in the position of a judge, an arbiter. What you say about the rules is final.”

In response, the Speaker maintained that once a question had been put and decided, it could not be revisited.

“After hitting the gavel, we cannot revisit any issue that has already been put to question,” he ruled, drawing the matter to a close.

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With the day’s agenda concluded, the House adjourned after setting in motion legislative processes that could reshape price regulation, military pensions, and internal parliamentary governance.

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Binani Air Celebrates First Month in the Skies, Eyes Bigger Future

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By Gloria Ikibah

Binani Air has marked its first 30 days of commercial operations, describing the milestone as a significant step in a journey built on vision, resilience and a commitment to transforming air travel in Nigeria.

The airline, which commenced commercial flights a month ago, in a statement said its early operations have been characterised by positive passenger feedback, successful flight schedules and growing confidence among industry stakeholders.

Reflecting on the airline’s first month, Group President Aminatu Dahiru Chiroma said the experience had been both rewarding and humbling.

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According to her, while passengers often see only the take-off and landing of aircraft, every successful flight is backed by years of preparation, training, regulatory compliance and strategic planning.

She said: “The first 30 days have been both humbling and inspiring.

“What people do not see are the countless hours of training for their engagement, operational readiness, certification processes, and strategic planning that make each flight possible. For us, these 30 days represent much more than flights operated. They represent the fulfillment of a vision conceived long before the first aircraft left the runway.”

She noted that the encouraging response from travellers, aviation partners and industry observers has reinforced confidence in its long-term objectives.

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For Chiroma, however, the most memorable aspect of the airline’s first month has been the personal stories behind the passengers it serves.

Recalling the airline’s inaugural flight, she described the moment as deeply emotional, and that the experience highlighted the broader role aviation plays in connecting families, businesses and opportunities.

“There is something deeply moving about seeing people board an aircraft carrying not just luggage, but expectations, aspiration, and trust.

“Aircraft transport passengers physically, but what they truly carry are dreams, relationships, and opportunities”, she added.

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Binani Air entered one of Nigeria’s most demanding industries after securing its Air Operator Certificate from the Nigerian Civil Aviation Authority on 18 March 2026.

Chiroma acknowledged the enormous challenges involved in establishing an airline, particularly in a highly regulated sector where operational standards must be met without compromise.

Rather than viewing those requirements as obstacles, she said the airline embraced them as the foundation for long-term success.

“There were obligatory requirements, operational certifications, personnel training, infrastructure readiness, technical preparations, and extensive stakeholder engagement.

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“Our philosophy has always been simple: build carefully, build responsibly, and build for the long term”, she stated.

The Group President also paid tribute to the founder Senator Aishatu Dahiru Binani, whom she credited with providing the vision and determination that brought the project to fruition.

“Building an airline anywhere in the world is a formidable undertaking. Building one in Nigeria requires an even greater measure of resilience, foresight, and commitment.

“From the earliest days of this journey, she demonstrated unwavering belief in the possibilities of creating an airline that will not only compete, but also contribute meaningfully to Nigeria’s aviation sector.

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“We could never have come this far without his prayers, advice, and encouragement. At every stage of the work, we see the fruits of his prayers and remain grateful to Almighty God for the privilege of being his children.

“What excites us most is seeing passengers become ambassadors for the brand. They are sharing their experiences with friends, family members, and colleagues. That kind of endorsement cannot be purchased. It is earned through service.

“We are building an airline that places people at the center of every decision.

“We are not merely selling tickets, we are creating experiences built on trust, reliability, and genuine care for our customers”, Chiroma emphasised.

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Reflecting on lessons from the first month, she said the experience had reinforced the importance of teamwork and shared purpose.

As the airline looks beyond its first month of operations, management says it remains focused on consolidating its gains while laying the foundation for future growth.

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BREAKING: Senators turn to sprinters as fire engulfs section of Senate wing

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A fire erupted on Wednesday in the Senate wing of the National Assembly complex in Abuja, prompting immediate concern and response from lawmakers and staff on the premises.

In a Footage circulating on social media, including from Africa Independent Television (AIT), shows thick smoke billowing from a room as senators and other personnel gathered nearby.

The video also captures hazy conditions inside adjacent areas, including what appears to be a pantry or kitchen space with chairs stacked and smoke visible.

According to preliminary reports, the incident occurred in a section of the Senate wing. Senators were described as being actively involved in efforts to put out the fire. No immediate reports of casualties have emerged, and those present appear to have evacuated or moved to safer areas within the complex.

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