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I’ll Change Recruitment Criteria at RUDN University—Rector

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Oleg Yastrebov Rector RUDN University

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.

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Economy

Lokpobiri Hails Petroleum Reforms Amid Surge in Investments

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petroleum products

By Adedapo Adesanya

The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has said ongoing reforms and strategic policy implementation in Nigeria’s petroleum sector are driving significant investments and strengthening the country’s position as a leading energy destination in Africa.

Mr Lokpobiri stated this at the Management Retreat of the Ministry of Petroleum Resources, where he stressed the need for improved institutional performance and accountability to sustain growth in the sector.

According to the Minister, the federal government has deliberately pursued far-reaching reforms aimed at creating a stable and investor-friendly environment capable of attracting local and foreign capital into the oil and gas industry.

“From far-reaching institutional reforms to the effective implementation of strategic policies, we have remained committed to carrying all stakeholders along, fostering a conducive environment for investments to flourish,” Mr Lokpobiri said.

“As a result, our petroleum sector has witnessed significant investments that continue to strengthen Nigeria’s position as a leading energy destination.”

The Minister noted that the gains recorded in the sector were the product of collective efforts across the Ministry and its agencies, commending staff for their dedication and professionalism.

“The Management Retreat of the Ministry of Petroleum Resources provided an important platform to reiterate that these accomplishments would not have been possible without the collective dedication, professionalism and teamwork of every staff member across the Ministry and its agencies,” he stated.

Mr Lokpobiri said the retreat, themed Driving Institutional Performance and Accountability in the Petroleum Sector for Sustainable National Development, underscored the importance of continuous improvement in service delivery and operational efficiency.

Drawing lessons from the theme, he urged officials of the Ministry and regulatory agencies to intensify efforts toward enhancing institutional effectiveness and strengthening governance frameworks.

“I encouraged that we must redouble our efforts, continuously improve the quality of our services, and strengthen institutional performance,” he said.

The Minister further emphasised the continued relevance of fossil fuels in the global energy mix, stressing that Nigeria must leverage its hydrocarbon resources to drive economic growth while ensuring citizens benefit from ongoing reforms.

“With fossil fuel as the dominant source of energy, we must ensure that Nigerians experience the benefits of our progress and that Nigeria remains the preferred investment destination in Africa and a globally competitive hub for energy investments,” Mr Lokpobiri added.

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Economy

Universal Insurance Extends N3.2bn Rights Issue to June 22

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Universal Insurance shares

By Aduragbemi Omiyale

The N3.2 billion rights issue of Universal Insurance Plc has been extended by almost two weeks after securing regulatory approval.

The exercise was earlier scheduled to close on June 10, 2026, but will now close on Monday, June 22, 2026.

The extension was granted by the Securities and Exchange Commission (SEC) after a request from the underwriting organisation.

In the rights issue, Universal Insurance is offering to shareholders 2,666,666,667 ordinary shares of 50 Kobo each at N1.20 per share on the basis of one new ordinary share for every existing six ordinary shares held as of the close of business on Monday, March 30, 2026.

Subscription for the acquisition of the company’s extra shares opened on Wednesday, May 13, 2026.

The extension gives investors more time to increase their stake in the insurance firm, which intends to use proceeds from the exercise to boost its capital base, as mandated by the National Insurance Commission (NAICOM).

Insurance companies operating in Nigeria have been given till July 31, 2026, to shore up their capital base or pack up. Operators can also explore a merger if they wish.

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Economy

4.964 billion Shares Worth N207.5bn Exchange Hands in 235,966 deals in Four Days

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nigerian shares

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited opened its doors to market participants in four days last week as a result of a public holiday observed on Friday, June 12, for 2026 Democracy Day in the country.

In the week, investors bought and sold 4.964 billion shares worth N207.521 billion in 235,966 deals, as against the 3.966 billion shares valued at N175.659 billion that exchanged hands in 343,587 deals a week earlier.

Analysis showed that the financial services industry led the activity chart with 4.116 billion shares valued at N84.607 billion in 96,165 deals, contributing 82.92 per cent and 40.77 per cent to the total trading volume and value, respectively.

The services sector transacted 232.479 million shares worth N4.955 billion in 17,614 deals, while the industrial goods segment exchanged 144.988 million shares worth N39.077 billion in 24,775 deals.

Sterling Holdings, FCMB, and Access Holdings were the most traded stocks with 2.883 billion units sold for N36.188 billion in 15,533 deals, accounting for 58.09 per cent and 17.44 per cent of the total trading volume and value, respectively.

A total of 40 equities appreciated in the week versus 23 equities in the previous week, 53 equities depreciated versus 65 equities a week earlier, and 53 equities remained unchanged versus 58 equities in the preceding week.

ABC Transport was the best-performing equity for the week after it gained 25.60 per cent to trade at N7.80, Consolidated Hallmark appreciated by 23.13 per cent to N8.25, Abbey Mortgage Bank rose by 21.93 per cent to N11.40, Infinity Trust Mortgage Bank grew by 20.32 per cent to N11.25, and Austin Laz soared by 15.16 per cent to N4.33.

The worst-performing equity last week was Fidson Healthcare because of its 25.86 per cent loss, closing at N101.20. Neimeth declined by 19.14 per cent to N8.55, Union Homes REIT shed 17.36 per cent to close at N70.00, SUNU Assurances slipped by 11.38 per cent to N3.97, and Unilever Nigeria dropped 10.26 per cent to trade at N140.00.

As for the index movement, the All-Share Index (ASI) and the market capitalisation chalked up 0.88 per cent each to settle at 244,738.74 points and N156.970 trillion, respectively.

Similarly, all other indices finished higher apart from the pension, AFR Bank Value, MERI Growth, MERI Value, consumer goods, Lotus II, industrial goods, sovereign bond and commodity indices, which fell by 0.03 per cent, 1.20 per cent, 0.21 per cent, 1.61 per cent, 0.54 per cent, 0.51 per cent, 1.00 per cent, 2.04 per cent and 0.34 per cent, respectively.

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