Vice President Kashim Shettima has reaffirmed Nigeria’s support for the World Trade Organisation (WTO) and the multilateral trading system, declaring that countries cannot achieve sustainable prosperity by isolating themselves from the global community.

Shettima stated this on Saturday during a meeting with WTO Director-General, Dr Ngozi Okonjo-Iweala, on the sidelines of the ongoing BRICS Leaders’ Summit in New Delhi, India.

The Vice President assured the WTO chief that Nigeria would continue to support the organisation in strengthening multilateralism and promoting a global system founded on cooperation rather than isolation.

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“I believe the world is greater than one nation. We will continue to support the WTO in championing the cause of multilateralism. We are essentially one human family and interconnected. You cannot divorce yourself from the global community,” he said.

Shettima Advocates Global Migration

Shettima also described migration as an important driver of development, innovation and economic growth, noting that immigrants have historically contributed to the development of nations and cities around the world.

“Nations are built by immigrants. Even cities are built by people who came from outside, not just by the locals. That goes to show that we have so much to gain from global migration,” he explained.

The Vice President cited the Nigerian diaspora as an example, saying Nigerians living abroad have continued to distinguish themselves through education, enterprise and professional achievements.

He said recent Pew Research Center analysis of 2024 US Census Bureau data showed that 67 per cent of Nigerian-born Black immigrants aged 25 and above in the United States held at least a bachelor’s degree, the highest proportion among the major Black immigrant groups examined.

Shettima Praises Okonjo-Iweala

The Vice President also commended Okonjo-Iweala for her leadership of the WTO and urged her to continue deploying her experience in the service of global development.

“You are doing a very wonderful job at the WTO, but you still have a lot to contribute to humanity,” he told the WTO Director-General.

Okonjo-Iweala, who is the first woman and first African to head the WTO, began her second four-year term as Director-General in September 2025.

Shettima to Present Nigeria’s Investment Opportunities

Meanwhile, Shettima is expected to present Nigeria’s partnership and foreign investment opportunities when he addresses leaders of the BRICS alliance on Sunday.

His engagement comes as the BRICS summit continues under the theme, “Building for Resilience, Innovation, Cooperation and Sustainability.”

The Vice President is expected to reiterate Nigeria’s push for a more inclusive international order while highlighting the objectives of President Bola Tinubu’s Renewed Hope Agenda.

According to the State House, Shettima will emphasise efforts to create sustainable opportunities for Nigerians through economic reforms, infrastructure expansion and the promotion of private-sector-led growth.

Nigeria’s President, Bola Ahmed Tinubu has mourned the passing of former National Chairman of the Peoples Democratic Party (PDP), Bamanga Mohammed Tukur.

According to Tinubu, the former governor of the old Gongola State and Minister of Industries, Tukurm, who died on Saturday at the age of 90, is a prominent figure in Nigeria’s political and economic history.

This was detailed in a statement issued on Saturday by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu described Tukur as a “towering figure” whose career spanned public administration, governance, industry, politics and pan-African business leadership.

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Born on September 15, 1935, Tukur served as General Manager of the Nigerian Ports Authority from 1975 to 1982, where the President noted his contribution to the development of Nigeria’s maritime sector.

Tukur later ventured into politics and was elected governor of the old Gongola State in 1983. The state was subsequently divided into present-day Adamawa and Taraba states.

“Alhaji Tukur was urbane, generous and deeply rooted in the values of integrity and service that the Adamawa Emirate and the nation hold dear.

“He was a man of big ideas and bold enterprise who believed in Nigeria’s limitless potential. Nigeria will sorely miss his wise counsel and fatherly guidance,” the President said.

According to the statement, Tukur was involved in the private sector as Chairman of BHI Holdings and the DADDO Group of Companies, with interests in manufacturing, agriculture, logistics and trading.

He also played a role in continental business advocacy, serving as Executive President of the African Business Roundtable and Chairman of the NEPAD Business Group.

Tukur served as National Chairman of the PDP from March 2012 to January 2014 during the administration of former President Goodluck Jonathan.

Tinubu condoled with the Tukur family, the Fombina Emirate of Adamawa, the Adamawa State Government and the political and business communities in Nigeria and across Africa.

He prayed that Allah would forgive Tukur’s shortcomings, grant him Aljannah Firdaus and comfort his family and other mourners.

The family had earlier announced Tukur’s death in a statement signed by his son, Hon. Awwal D. Tukur.

Saudi Arabia’s temporary shutdown of its major East-West oil pipeline after a drone attack could trigger fresh pressure on the global economy, with countries across Asia, Europe, Africa and North America facing the possibility of higher oil, fuel and transportation costs.

The 1,200km pipeline, operated by Saudi Aramco, connects Saudi Arabia’s oil-producing east to the Red Sea port of Yanbu.

It provides the kingdom with a crucial alternative to the Strait of Hormuz, which has already been heavily disrupted amid the ongoing conflict involving Iran.

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Saudi Arabia said drones struck the pipeline in the Riyadh and Medina areas on September 10, causing injuries and damage.

The kingdom subsequently suspended operations as a precaution while specialised teams assess and secure the facility.

Saudi authorities later confirmed that the drones were launched from Iraqi territory.

According to report, the pipeline had been carrying around 4 million to 5 million barrels of oil per day, equivalent to roughly 4 to 5 percent of global oil supply.

Countries likely to feel the impact

China and India

China, the world’s largest crude oil importer, could be among the biggest casualties if the disruption lasts. Reduced Saudi supplies could force Chinese refiners to compete for alternative crude, increasing energy and manufacturing costs.

India is also highly exposed because of its dependence on imported crude. Higher oil prices could raise petrol, diesel and aviation costs while increasing inflation and the country’s import bill.

Japan and South Korea

Both countries depend heavily on imported energy. A prolonged supply disruption could increase the cost of crude, manufacturing, transportation and petrochemical production.

United States and Europe

The United States is a major oil producer but remains exposed to global prices. A sustained supply shortage could push up gasoline and diesel prices and increase transportation costs.

European economies, including Germany, France, Italy, Spain and the United Kingdom, could also face higher fuel, manufacturing and shipping costs.

Africa

The impact could spread across Africa through higher fuel and transportation prices.

Nigeria could benefit from higher crude prices through increased oil revenues, but higher international energy and shipping costs could also create pressure on consumers and businesses.

Oil-importing countries such as South Africa, Kenya, Tanzania and Ethiopia could face greater pressure from rising energy costs.

Pakistan and Southeast Asia

Pakistan, Bangladesh, Indonesia, the Philippines, Thailand and Vietnam could also be affected because of their reliance on imported energy.

Higher crude prices could increase transportation, electricity, manufacturing and food-distribution costs.

Iraq investigates the attack

Iraq has condemned the attack and said it would not allow its territory to be used as a “launchpad for attacks against any nation.”

Prime Minister Ali al-Zaidi ordered an investigation after authorities determined that the drones originated from Maysan province, which borders Iran.

The commander of the Maysan operations command was dismissed, while Iraq also ordered the closure of the Shalamcheh border crossing with Iran as a precaution.

No group has claimed responsibility.

Analysts have pointed toward Iran-backed armed groups in Iraq as a possible culprit, while US President Donald Trump has also blamed Iran. Those claims have not been independently established.

Saudi Arabia holds off on retaliation
Riyadh has so far decided not to retaliate, saying it would refrain “at this stage” following a request from the Iraqi prime minister.

Saudi Arabia, however, warned that it reserves the right to take “all necessary measures” to protect its sovereignty, security and infrastructure.

Yemen adds to the danger

The attack comes as Iran-backed Houthi forces make major advances along Yemen’s Red Sea coast and have reportedly seized the strategic Mayun Island near the Bab al-Mandab Strait.

That development is significant because Bab al-Mandab is one of the world’s major shipping chokepoints.

Saudi Arabia is therefore facing pressure on both sides of the Arabian Peninsula: its traditional export route through the Strait of Hormuz is disrupted, while its key alternative pipeline to the Red Sea has now been attacked.

What happens next?

Saudi Arabia could attempt to reroute some crude through Egypt, the Suez Canal and the Sumed pipeline, but these alternatives cannot immediately replace the East-West pipeline.

The kingdom could also face longer and more expensive shipping routes around Africa if Red Sea security deteriorates further.

Brent crude has already risen above $100 per barrel, while US diesel prices have reached record levels.

Ben Cahill of the Atlantic Council described the East-West pipeline as Saudi Arabia’s “principal bypass option to avoid the Strait of Hormuz.”

“The key buffers that got us through the last six months have basically been worn away,” he said.

Saudi political analyst Khalid Bartafi warned that the consequences could become global.

“This is not just our problem, it’s a global problem,” he said.