News
Why is Putin’s back against the wall?
Since the beginning of his “special operation” in Ukraine, the Russian president has been seriously weakened, particularly by Western sanctions.
The Kremlin refuses to acknowledge it, but the Russian energy sector is being undermined by the West. And although Putin could have cut off the gas supply to Europe, he has done nothing. The media outlet Business Insider covers the matter in a recent article, reporting that Russia is “not ready to acknowledge that it’s not in a financial position to completely cut off Europe from its natural gas exports”.
For his part, Russian Foreign Minister, Sergei Lavrov, told Sky News Arabia: “We are honest people. We have signed long-term contracts with Europe. We always honour our obligations, unlike Europe or the United States”.
It should be noted that before the conflict began, 40% of European countries’ gas came from Russia. At the end of 2023, this figure barely reached 15%, a fall helped by the damage suffered by several Nord Stream pipelines during sabotage operations, reports Korii.
When the G7 imposed a price cap on oil exports, Russian energy revenues fell by 24%. Even though the Russians keep the situation afloat, it’s only thanks to their ghost fleet and a major ally, China. An ally that is not exactly generous… Indeed, Beijing would like the Kremlin to revise the price of gas downwards. The Russian energy empire is more vulnerable than ever, it will hold out as long as the war in Ukraine lasts. But will it be able to do that without the European market? According to Business Insider, based on documents from the Oxford Institute for Energy Studies, “the oil and gas industry accounts for between 30% and 50% of Russia’s federal budget revenues.”
(MH with Manon Pierre – Source: Korii – Picture: Picture by tatarstan.ru via WikiCommons under Creative Commons Attribution 4.0 International license)
Business
Boris Johnson Says He Feels “Perfectly Safe” in Nigeria, Praises Imo State’s Progress
Former British Prime Minister Boris Johnson has expressed confidence in Nigeria’s security, saying he feels perfectly safe during his visit to the country. His remarks come amid ongoing reports of insecurity in various parts of Nigeria, making his statement a notable endorsement of the nation’s stability in certain regions.
Johnson made the declaration on Thursday, December 4, 2025, while addressing participants at the Imo State Economic Summit 2025 in Owerri, the state capital. He acknowledged having read travel advisories and news reports highlighting security concerns prior to his trip but said his experience has been reassuring.
He said he feels perfectly safe in the country and emphasized that the summit environment and local hospitality contributed to his sense of security. He also asked the audience if they felt safe, receiving an enthusiastic affirmation.
During his visit, Johnson commended Governor Hope Uzodimma and the Imo State Government for their development initiatives, particularly efforts to provide 24-hour electricity. He highlighted the potential of Nigeria as a hub for innovation and economic growth, noting the opportunities presented by emerging technologies such as artificial intelligence.
While his statements have been welcomed by some as a boost to international confidence in Nigeria, analysts caution that the former prime minister’s experience reflects only a controlled and secure environment within Imo State. Several parts of the country continue to face challenges, including banditry, communal conflicts, and kidnappings.
Nonetheless, Johnson’s visit and remarks are significant, sending a positive message to investors and global observers about Nigeria’s potential for stability and progress. They also underscore the contrast between localized experiences of safety and broader security challenges across the country.
Business
Dangote to Uzodimma: Just show me where to invest
By Emmanuel Iheaka, OWERRI
The President of Dangote Group, Aliko Dangote has assured Governor Hope Uzodimma of Imo State that his group will be one of the biggest investors in the state.
Dangote gave the assurance at the opening session of the Imo Economic Summit 2025 in Owerri on Thursday.
The renowned Africa’s industrialist urged Uzodimma to indicate his preferred area of investment and forget the rest.
Dangote described the Imo governor as a personal friend of decades and commended him for providing enabling environment for investment.
“We will be one of your biggest investors in Imo. So, please tell me the area to invest and we will invest”, Dangote declared.
He called on entrepreneurs to always invest at home, adding that foreigners cannot drive the economy of any nation more than the nationals.
“What attracts foreign investors is a domestic investor. Africa has about 30 percent of the world’s minerals. We are blessed,” he submitted.
Dangote reiterated that his refinery was set to launch 1.4 million barrels per day capacity, the highest for any single refinery in the world.
News
Judge rejects Nnamdi Kanu’s brother court appearance
Justice James Omotosho of the Federal High Court in Abuja on Thursday declined to accept Prince Emmanuel Kanu’s appearance on behalf of his brother, Nnamdi Kanu, ruling that he is not a legal practitioner.
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