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Oil prices increase as Israel plans to attack Iran

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By Kayode Sanni-Arewa

Oil prices climbed early on Monday in the global commodities market over report that Israel plans major attack on Iran.

The geopolitical tensions in the Middle East has brought Iran into play with latest missile slam on Israel earlier in October.

Due to US government interest in energy, Israel has allayed fear of potential attack on Iranian oil facility, aiming at the country military infrastructure instead.

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Brent crude climbed to $73.13 per barrel while the US benchmark West Texas Intermediate also rose by 0.5% to $69.09 per barrel.

According to Israeli state television KAN, an Israeli official whose name was not disclosed revealed that Prime Minister, Benjamin Netanyahu and Defense Minister, Yoav Gallant will decide when and how the attack will take place in a security cabinet later in the day.

Also, the US obtained leaked classified documents about Israel’s retaliation plans against Iran.

US President, Joe Biden, said Friday that he knows how and when Israel will carry out its attack on Iran as Tehran warns it will respond ‘decisively.’

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According to Organization of Petroleum Exporting Countries’ (OPEC) monthly report, Iran increased its oil production by 21,000 barrels per day to 3.31 million barrels, which was the highest increase amid OPEC members in September.

The possibility of Israel attacking the country supported the upward price movement, feeding the supply concerns amid market players. In addition, analysts expect the contraction in the real estate sector and housing market in China, the world’s biggest oil importer, to lessen.

China announced a 25 basis point reduction for 1 and 5-year loan interest rates, which serve as the benchmark interest for corporate loans and real estate loans.

The interest rate decision aims to revive the real estate and credit markets against the contraction in the real estate sector and to ease the burden on individuals and businesses.

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The decision is expected to increase optimism regarding future incentive measures in the country and support the recovery of oil demand in China.

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Former NLC Deputy President, Joseph Akinlaja Loses Mother-in-law, Rachael Olague

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By Kayode Sanni-Arewa

A former member of the House of Representatives who represented Ondo East and West Federal Constituency in the 7th and 8th Assembly, Hon. Joseph Akinlaja has lost his mother-in-law, madam Rachael Olague, who passed away in Benin City on Tuesday, October 1, 2024.

According to a statement issued by the former parliamentarian and former Deputy President of Nigeria Labour Congress (NLC), madam Olague 79, the mother of Queen Philomena Akinlaja (nee Olague), Nekpen Olague-Nekeve, Eugene Olague, and Andrew Olague was known as an exemplary and kind-hearted mother in her community and also a devout Christian.

“With profound sadness and total submission to the will of Almighty God, my dearest wife Queen Philomena Akinlaja (née Olague) lost her beloved and precious mother, Mrs. Rachael Olague to the cold hands of death on Tuesday, October 1, 2024.

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“Mama, who also was my mother-in-law, was a caring mother, grand-mother, and matriarch; her illustrious virtues would be greatly missed.

“She was respected for her wisdom, story telling, compassion, and dedication to charitable causes,” the statement said, adding that many remember her as a source of guidance and support, both within her family and in the wider community in Benin, Edo State.

Akinlaka, a former General Secretary of NUPENG further noted that madam Olague’s shocking and painful exit had since drawn a large gathering of family members, friends and associates paying their condolences and also commiserating with the bereaved family.

Her death, the statement said, was undoubtedly a great personal loss for the family of Olague in Edo State especially the nonagenarian widower, Chief Osa Olague and by extension the entire Akinlaja family.

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“We however draw solace from the fact that madam Rachel’s sojourn on earth was impactful and fruitful and it is our belief that she is already resting in the bosom of her Lord. Details regarding funeral arrangements will be shared in due course. We appreciate your love, prayers, and support as we mourn Mama’s passing, as she rests tranquil, in perfect peace. Amen,” the statement concluded.

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Oborevwori appoints Prof. Asagba Delsu VC

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By Kayode Sanni-Arewa

The Governor of Delta State Rt. Hon.Elder Sheriff F.O Oborevwori has approved the appointment of Prof. Samuel Ogheneovo Asagba as the new Vice Chancellor of the Delta State University, Abraka.

According to a statement signed by the Secretary to the State Government, Dr Kingsley Eze Emu, the appointment will take effect from 1st December, 2024.

A Professor of Environmental Biochemistry and Toxicology, Prof. Asagba had previously served the University in various capacities, including serving as Deputy Vice Chancellor Administration as well as Provost of the defunct Asaba Campus.

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Constitution Review: Reps to involve NGF, NGE, LG Chairmen, CSOs, Others

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… Kalu announces membership of sub-committees

By Kayode Sanni-Arewa

The House of Representatives Committee on Constitution Review has said that it will engage the Nigerian Governors Forum, Nigeria Guild of Editors, Conference of Speakers of State Legislature, Chairmen of the 18 Political Parties, Civil Society Organisations, amongst others, as part of activities for the ongoing review.

The Deputy Speaker and Chairman of the Committee, Hon. Benjamin Kalu who made this known during the committee’s meeting in Abuja, also said that the House will be holding an international legislative dialogue on women on October 28 and zonal public hearings in January.

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In his remarks, Kalu assured that the committee is on track to deliver to Nigerians, a new Constitution by December, 2025, noting that the essence of the engagements is to get the input of various stakeholders and brief them on what the committee is doing.

He said that the Committee in carrying out most of its assignments, will be broken down into subcommittees, which will not be exhaustive as additional members will be included later on to ensure that everyone is carried along.

The Sub-committees members according to thematic areas include: Local Government Matters, “Rt. Hon. Julius Ihonvbere, Hon. Onwuzibe Ginger Obinna, Hon. Aliyu Wakili Boya , Hon. Jimbo Inemesiti Clement, Hon. Ibrahim Tukura Kabir, Hon. Abeji Leke Joseph, Hon. Olawuyi Olatunji Raheem, Hon. Ahmed Idris.”

Judiciary, “Rt. Hon. Bello Kumo ii. Hon. Ogene Victor Afamefuna ii. Hon. Manu Zoro Mansur iv. Hon. Agbedi Fredrick Vv. Hon. Benson Babajimi Adegoke vi. Hon. Gbewfi Gaza Jonathan, Hon. Mamudu Abdulahi vili. Hon. Sada Soli.”

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Electoral Matters: “Rt. Hon. Ali Abdulahi Ibrahim ii. Hon. Tarkighir Dickson iii. Hon. Aliyu Muhktar Betara iv. Hon. Ofionu Goodwin Odey Ekpo v. Hon. Osoba Olumide Babatunde vi. Hon. Adegboyega Adefarati vil. Hon. Oke Olubusayo Oluwole vill. Hon. Abiodun James Faleke.”

Security Architecture, “Hon. Isa Ali JC li. Hon. Pondi Julius G. ii. Hon. Chinedu Nweke Ogah, Hon. Akpatason Peter, Hon. Olayide Adedeji Stanley, Hon. Ajang Alfred Iliya,cHon. Bob Solomon, Hon. Igariwey Iduma Enwo.”

Gender Issues – “Rt. Hon. Onanuga Adewunmi Oriyomi li. Hon. Rotimi Akintunde Oluwaseun li. Hon. Mohammed Audu iv. Hon. Fatima Talba Vv. Hon. Zainab Gimba vi. Hon. Princess Miriam Odina vii. Hon. Akume Regina viii. Hon. Ogbara Adetola Kafilat.”

Devolution of Powers & Other Special Matters: “Rt. Hon. Chinda Kingsley Ogundu ii. | Rt. Hon Madaki Aliyu Sanni iii. Hon. Obed Paul Shehu, Hon. Amadi Akarachi Etinose, Hon. Fulata Abubakar Hassan vi. Hon. Kabir Amadu vii. Hon. Mohammed Danjuma Hassan viii. Hon. Francis Waive.”

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Members of the Committee on Human Rights include: Rt. Hon. Ozodinobi George Ibezimako, Hon. Magaji Amos Gwamina, Hon. Yusuf Rabiu, Hon. Mohammed Abubakar Ahmed v. Hon. Sunday Cyriacus Omehia, Hon. Ajiya Abdulrahaman and Hon. Dasuki Abdlsamad.”

The Deputy Speaker, thereafter assured that clear actionable recommendations from the women summit holding next week will be taken forward in the constitutional alteration exercise.

He added that the summit will help in building of political will and eliciting of commitments from political leaders and stakeholders.

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