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President Bola Tinubu will not attend the 81st United Nations General Assembly in New York, with Vice President Kashim Shettima appointed to lead Nigeria’s delegation and deliver the country’s national statement.
Global oil supply fears are intensifying after a vessel was hit in the Strait of Hormuz, days after Saudi Arabia shut a major oil pipeline following drone attacks. The developments could push crude prices higher and create fresh fuel-cost pressures for Nigeria.
Iran-backed Houthi forces have launched attacks on several southern Saudi Arabian cities, injuring at least 73 people and triggering fires at energy facilities. The escalation has sent Brent crude above $99 a barrel as markets fear further disruption to global oil supplies.
Brent crude briefly climbed to nearly $98 a barrel on Monday as escalating attacks between the United States and Iran raised fresh concerns about oil supplies through the Strait of Hormuz. The surge could have consequences for fuel prices, inflation and economies such as Nigeria that rely heavily on crude oil exports.
The United Nations General Assembly has backed a resolution encouraging the use of a new world map that more accurately represents the size of Africa and other continents. The move challenges the centuries-old Mercator projection, which makes Africa appear far smaller than it actually is.