馃嚦馃嚞NigeriaWest Africa
Canada approves major natural gas pipeline expansion to boost Asian exports
via Punch Nigeria1 min read
Canada has approved a multi-billion-dollar expansion of a west coast natural gas pipeline, aiming to increase exports to Asia and reduce reliance on the United States. Prime Minister Mark Carney has characterized Canada as an "energy superpower," stating that increased oil and gas sales to Asia could mitigate losses from strained trade relations with the United States. The Ministry of Natural Resources confirmed that the project supports Canada's trade diversification strategy by enhancing its capacity to meet natural gas demand from Asian markets. The pipeline expansion could also facilitate liquefied natural gas sales to the United States, potentially offering Canada leverage in upcoming negotiations with President Donald Trump regarding the North American Free Trade Agreement. The CAN$4 billion $2.9 billion expansion of Enbridge's pipeline system in British Columbia is scheduled to commence this summer, with completion anticipated by late 2028. While this timeline does not offer immediate relief to the global LNG market, which is currently under pressure from the US-Iran conflict, the International Energy Agency has warned of long-term strains on LNG supplies due to the conflict. Experts suggest that Canadian energy products, which do not require transit through the Middle East, could become more appealing in Asian markets given the disruption to global supply chains.
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This summary was AI-generated from a story originally published by Punch Nigeria.
Lagos emergency responders successfully contained two separate fire incidents on Thursday, preventing major disasters and recording no casualties. In Ikotun, a gas-laden tanker caught fire after striking a road bump, causing the driver to lose control and a tire to burst. The Lagos State Emergency Management Agency LASEMA, Lagos State Fire and Rescue Service, Lagos State Traffic Management Authority, Federal Road Safety Corps, and Nigeria Police collaborated to extinguish the blaze and manage traffic. LASEMA Permanent Secretary Olufemi Oke-Osanyintolu urged motorists to obey speed limits. Separately, the Lagos State Fire and Rescue Service confirmed a fire at the electronics section of a Justrite Superstore in Egbeda-Akowonjo. Controller General Margaret Adeseye reported that firefighters quickly contained the fire, which preliminary findings suggest originated from an alternative power source, specifically the building's solar inverter system. Both incidents were brought under control with no loss of life or injuries.
The Abia State Police Command has confirmed the mysterious death of five members of the same family in Umuimo, Osisioma Ngwa Local Government Area. The victims, identified as Mr Kachi Nnabugwu, his wife, Chinaza, and their three children, were found dead inside their residence on Tuesday. The incident was reported to the Osisioma Divisional Police Headquarters on July 22, 2026, by the deceased's brother after he was unable to reach them. Upon forcing entry into the house, the lifeless and decomposing bodies were discovered. Police Public Relations Officer, DSP Maureen Chinaka, stated that detectives visited the scene, conducted a preliminary visual inspection, and took photographs. The bodies have been deposited at the morgue for preservation and autopsy, with investigations ongoing. Residents reported the family was last seen on Saturday, July 18, and neighbors forced entry after repeated failed attempts to contact them. Containers of leftover food and a generator were reportedly found in the building. The circumstances surrounding the deaths remain unclear.
Credit extended to Nigeria's private sector reached N83.3tn in June 2026, marking a 2.8 percent increase from N81tn in May. This data comes from the Central Bank of Nigeria's latest Money and Credit Statistics. Conversely, credit to the government saw a 0.99 percent decline, falling to N40tn in June from N40.4tn in May. Consequently, net domestic credit grew by 1.5 percent to N123.3tn in June, up from N121.42tn the previous month. This rise in private sector lending indicates that banks are continuing to provide credit to businesses and households, even with the Central Bank of Nigeria's high-interest rate policy. Analysts suggest that sustained credit growth could foster business expansion, investment, and overall economic activity. However, there is also a concern that if credit growth outpaces the economy's productive capacity, it could lead to increased inflationary pressures. The figures highlight a persistent demand for financing despite the Central Bank of Nigeria's tight monetary policy, which aims to control inflation and stabilize prices.