Economy
I’ll Change Recruitment Criteria at RUDN University—Rector
By Kester Kenn Klomegah
In an insightful long-ranging conversation, the newly appointed Rector of the RUDN University (Peoples’ Friendship University of Russia), Oleg Yastrebov, discusses the latest developments, educational reforms, and students’ enrollment as well as cultural diversity in his multinational university.
During his meeting with our Media Executive Kester Kenn Klomegah, Rector Oleg Yastrebov, particularly stressed the importance of effective monitoring and evaluation of students’ performances by the hard-working academic staff. He unreservedly argues that the university staff and academic teams provide the necessary knowledge and cutting-edge skills for young aspiring leaders and that makes the university first-class among many others in the Russian Federation.
RUDN University is an educational institution located in Moscow. Established in 1960, it primarily provides higher education to Third World students during the Soviet days. Many students, especially from developing countries, still come to this popular university from Latin America, Asia and Africa. It is Russia’s most multidisciplinary university, which boasts the largest number of foreign students and offers various academic disciplines. Here are the interview excerpts:
What are your remarks on the popular saying – a new leader, new management approach?
The previous rector of the RUDN University, who is now its president, Professor Vladimir Filippov, gathered a unique scientific and expert team. I am not a new person to them, as a graduate of the Peoples’ Friendship University of Russia – that is the full name for the RUDN University. I was the head of the Law Institute, so I am familiar with most of the teaching staff. All the administration of the university are all obliged to preserve and strengthen the achievements. We are the most international, the most multidisciplinary and the friendliest university in Russia. I am sure that with the arrival of new people in the team, the university will become even more ambitious, international, digital, and with a new approach to the quality of education. We are a modern university and we are ready to remain a dream university for many bright students.
Quite recently, you assumed the position of rector. What would you count as the marked achievements and success stories during these few years?
Over the past year, RUDN University has strengthened its position among the best universities in the world. We are the greenest university in Russia. More and more talented students are coming to us. Bright international students continue to enrol in RUDN – last year we had new students, for example, from Portugal and Lesotho. We have signed agreements with strong partners – Sistema (the largest Russian investing organization), Kaspersky Lab, and the European Medical Center. I would like to note separately that RUDN was the first in Russia to receive the right to validate and verify greenhouse gas emissions.
What are the current challenges and tasks as you take up the position of rector of the RUDN University?
The first priority is a new approach to recruitment criteria for teachers. These should be people with real professional practical achievements. A teacher who retells books is a transmitter of information, but not a source of new knowledge. We understand that it is important to move on to motivate students and to initiate startups in collaboration with employers. This direction, it creates a competitive environment among students and employers will be able to notice talented students even before their graduation.
We will continue to strengthen science at the university. We integrate successful educational technologies into the education process. We expand the network of partner universities. There is serious progress in a multilingual environment — all our graduates of bachelor’s programs speak at least one foreign language at a serious proficient level. The pan is to make two languages.
I would like to mention here that we updated the whole university environment. The campus is transformed – this is also an important factor for students. Co-working areas, sports and recreation spaces, and dormitory rooms are becoming more stylish and fashionable. It is interesting to say that 300 students have already moved into the rooms in the new design. In fact, 450 rooms are being transformed for the new semester. RUDN was the first university in Russia to open the first multifunctional student centre, where you can get all the basic documents about studying. The process will take just 5-15 minutes.
On the other hand, what do you suggest as significant steps to raise the cultural profile among students who have come from different countries?
RUDN worthily preserves long-standing traditions: weeks of national cultures for instance, and we signed the Declaration of Tolerance. We have more than 100 community organizations and international study groups. We have active students who help freshmen to adapt to the new study and living conditions. There is a volunteer centre of more than 200 volunteers — this is a kind of international student office, which helps foreign students adapt to living in Russia. Their work is based on the principle “Buddy For Each Foreigner”. Each foreign student is assigned a Russian curator friend. The curator is in touch and ready to help out a foreign ward in any situation — from “I am lost” to “help me with this home task”. In addition, students arrange informal meetings, where they get acquainted with fellow countrymen, make friends, and help each other with their academic studies.
What are the peculiarities of running an educational institution such as the RUDN University, especially in a liberal market economy?
Approximately 70% of the budget the University earns itself. This is not only educational activity but also additional professional education, and income from science. Mainly, the income is generated by physical and mathematical sciences, chemistry, mathematics, and the Institute of Innovative Engineering Technologies. Humanities mainly work on a grant basis, it provides all kinds of scientific advisory services.
What is the competitive edge of RUDN University? What advantages does it have over other similar educational institutions in the Russian Federation?
RUDN is the most multidisciplinary university in Russia. A student can choose from 446 directions. Here you can get technical, scientific, medical, economic, and humanitarian education. Engineers, lawyers, doctors, diplomats, financiers, agrarians, physicists, mathematicians, linguists, and journalists are educated at the RUDN.
RUDN has the strongest language school. By studying languages, students receive an extra diploma of a translator. A student can choose from 12 foreign languages to study: European, Oriental or Russian as a foreign language.
RUDN has all the conditions to do science. We have more than 200 laboratories, more than 40 scientific and scientific-educational centres with modern equipment, annual scientific conferences, grants, scholarships, and joint research projects with leading foreign universities.
What can you say about the system of education and training, particularly for foreigners, as well as regular educational exchanges as a means of forging closer relations with the university?
RUDN is an international university. Representatives from 160 countries study here. We have an established system for recruiting foreign students. We interact with applicants from Asia, Africa, and Latin America directly through Olympiads, our pre-university classes and training centres.
Last year, 4,395 foreigners enrolled at RUDN University. This is almost 500 people more than was previously planned. Most of all – on “Medicine”, “Dentistry”, “International Relations”. Egypt, Zambia and Nigeria were among the top three (3) African countries in terms of the numerical strength of international students.
We have exchange and internship programs, double degree programs in cooperation with foreign universities, international conferences, and summer schools. The geography of educational and scientific cooperation of the RUDN is extensive: more than 250 agreements have been signed with educational institutions of the Commonwealth of Independent States (CIS) and Europe, Asia and the Middle East, Africa and Latin America. Since 2007, graduates have received a European Diploma Supplement, which is recognized worldwide.
What keeps you motivated as a rector in this educational environment? Who are some of the most notable people, besides Russians, that you have interacted with during your work at the RUDN University?
Students motivate me a lot especially when I see their success in scientific, educational, sports and creative fields. Besides students, I am also highly motivated by my colleagues who sacrifice a lot, devote their energy and considerable time to perform their work effectively, efficiently and conscientiously.
By all appearances – education and professional skills training – are aspects of diplomacy. Do you think that the youth should be involved in this public diplomacy?
Without mincing words, the youth is our future. The whole development and technological progress depend on them – the present young generation. Therefore, at RUDN we teach them to become professional leaders in various fields, equip them with the necessary skills, and help them to acquire the knowledge of communication internationally.
Economy
Nigerian Exchange All-Share Index Rises 0.28%
By Dipo Olowookere
The Nigerian Exchange (NGX) further gained 0.28 per cent on Thursday amid sustained bargain-hunting across the key sectors of the market.
According to data, the banking counter appreciated by 1.12 per cent, the insurance index went up by 0.67 per cent, the consumer goods sector improved by 0.44 per cent, the energy space grew by 0.43 per cent, and the industrial goods segment expanded by 0.18 per cent.
Consequently, the All-Share Index (ASI) increased by 87.03 points to 202,672.56 points from 202,585.53 points and the market capitalisation added N55 billion to settle at N130.459 trillion compared with Wednesday’s N130.404 trillion.
Business Post reports that the market breadth index was flat yesterday, with 31 price gainers and 31 price losers.
Trans Nationwide Express gained 9.94 per cent to close at N3.43, International Energy Insurance appreciated by 9.84 per cent to N3.46, UPDC REIT advanced by 9.63 per cent to N7.40, Guinea Insurance rose by 9.52 per cent to N1.15, and Regency Alliance went up by 9.52 per cent to N1.07.
On the flip side, Living Trust Mortgage Bank lost 10.00 per cent to trade at N4.32, RT Briscoe crashed by 9.94 per cent to N8.88, Tantalizers contracted by 9.55 per cent to N3.98, Livestock Feeds moderated by 9.40 per cent to N6.75, and VFD Group retreated by 8.85 per cent to N10.30.
The most active stock for the day was Access Holdings with 121.7 million units worth N3.2 billion, GTCO transacted 62.3 million units valued at N8.1 billion, Chams exchanged 60.7 million units for N187.4 million, Zenith Bank traded 43.7 million units worth N4.9 billion, and UBA sold 29.0 million units valued at N1.3 billion.
At the close of business, market participants bought and sold 652.9 million units for N39.8 billion in 51,101 deals compared with the 1.0 billion units worth N40.6 billion transacted in 52,723 deals at midweek, indicating a decline in the trading volume, value, and number of deals by 34.71 per cent, 1.97 per cent, and 3.08 per cent, respectively.
Economy
Oil Inches Up as Fragile Ceasefire Keeps Lid on Prices
By Adedapo Adesanya
Oil prices moved up by about 1 per cent on Thursday amid volatile trading due to the fragile Middle East ceasefire, with Brent crude futures gaining $1.17 or 1.2 per cent to sell at $95.92 a barrel, and the US West Texas Intermediate (WTI) crude futures expanding by $3.46 or 3.7 per cent to $97.87 a barrel.
Initially, prices rose over doubts about the two‑week ceasefire between the United States and Iran, as well as concerns about ongoing restrictions to energy flows through the Strait of Hormuz. The waterway connects supply from Gulf producers such as Iraq, Saudi Arabia, Kuwait and Qatar to global markets, and typically carries 20 per cent of global oil and gas supply.
The ceasefire hadn’t held for 24 hours when Israel continued air strikes on Lebanon, which Iran said was a violation of the deal with America and signalled the shutting down of the Strait of Hormuz again.
However, Israeli Prime Minister Benjamin Netanyahu on Thursday said he had instructed officials to open peace talks with Lebanon, including discussions on disarming Hezbollah.
Ship traffic through the Strait of Hormuz fell to well below 10 per cent of normal volumes on Thursday after Iran asserted control by warning vessels to remain within its territorial waters, and prices for some physical oil grades hit fresh all-time highs.
Shippers on Wednesday said they needed clarity on the terms of the ceasefire before resuming transit through the strait. Iran has issued maps to guide ships around mines and show safe paths for passage.
Concerns over supply disruptions in Saudi Arabia resurfaced as the kingdom’s oil production capacity was reduced by about 600,000 barrels per day and cut throughput on its East‑West Pipeline by roughly 700,000 barrels per day.
Regional oil facilities remain under threat, with Iran striking sites in nearby countries after the ceasefire. Kuwait, Bahrain and the UAE also reported missile and drone attacks by Iran.
The ceasefire has led Goldman Sachs to trim its second‑quarter 2026 forecasts for Brent and US crude to $90 and $87 a barrel, respectively, from previous forecasts that Brent and WTI oil prices would average $99 and $91 a barrel, respectively. It also forecast that if the Strait of Hormuz remains essentially closed to normal traffic for another month, Brent Crude prices would average more than $100 per barrel in the second half of 2026 and throughout the year.
Economy
Company Income Tax Falls 49.8% to N1.49trn in Q4 2025
By Adedapo Adesanya
Revenue from Company Income Tax (CIT) in the fourth quarter of 2025 decreased by 49.8 per cent to N1.487 trillion from N2.96 trillion in the third quarter of 2025, according to the National Bureau of Statistics (NBS).
The figure was contained in the NBS Company Income Tax (CIT) Q4 2025 Report released in Abuja on Wednesday by the stats office.
CIT is a statutory levy imposed on the profits of incorporated businesses in Nigeria. It is governed primarily by the Companies Income Tax Act (CITA) and administered by the Nigeria Revenue Service (NRS).
The report said domestic CIT received was N819.83 billion (55 per cent), while foreign CIT payment was N668.21 billion (45 per cent) in Q4 2025.
It said on a quarter-on-quarter basis, activities of extraterritorial organisations and bodies recorded the highest growth rate with 75.15 per cent,
The report said this was followed by Education and real estate activities at 54.20 per cent and 27.25 per cent, respectively.
“On the other hand, accommodation and food services activities recorded the least growth rate at -67.11 per cent, followed by activities of households as employers, undifferentiated goods and services producing activities of households for own use at -63.49 per cent.
“It said mining quarrying was recorded at -49.63 per cent.”
In terms of sectoral contributions, the report showed that the top three activities with the highest contribution in Q4 2025 were financial and insurance activities at 18.17 per cent, manufacturing at 17.30 per cent and mining and quarrying at 15.04 per cent.
It said, on the other hand, the activities of households as employers, undifferentiated goods and 0.002 per cent.
“This was followed by water supply, sewage, waste management and remediation activities with 0.04 per cent.
The report, however, said that, on a year-on-year basis, CIT collections in Q4 2025 increased by 13.38 per cent from Q4 2024.
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