An oil tanker unloads crude oil at a terminal at the port in Qingdao, in China’s eastern Shandong province on March 11, 2026. Global oil prices spiked above $100 per barrel on Thursday as renewed Iranian attacks on energy infrastructure and shipping in the Gulf heightened fears of a majorContinue Reading
Concerns over a possible monopoly in Nigeria’s downstream petroleum sector are growing after the suspension of petrol imports left the Dangote Refinery controlling the bulk of the country’s estimated N14.4tn petrol market. Stakeholders, including energy experts, economists and labour leaders, have called for stronger regulatory oversight and increased competition asContinue Reading
Edun believes local refining has been helpful to the economy. Nigeria’s Minister of Finance, Wale Edun, says the current increase in fuel prices reflects prevailing market realities, urging Nigerians to appreciate the country’s growing local refining capacity. Speaking during an interview on the Politics Today aired on Channels Television, EdunContinue Reading
U.S. President Donald Trump Alex Wong/Getty Images/AFP United States President Donald Trump has signaled that the ongoing war between the US and Iran may end soon, claiming there are few remaining military targets left in the country. In an interview with Axios on Wednesday, Trump said the conflict, which beganContinue Reading
President Bola Ahmed Tinubu has approved a fiscal incentive package to revive the long-delayed Bonga Southwest Aparo deepwater project, a move expected to attract about $20bn in foreign investment into Nigeria’s oil and gas sector. The development was announced by the Nigerian National Petroleum Company Limited (NNPC Ltd) on Tuesday,Continue Reading
Leaders of the Peoples Democratic Party (PDP), including governors and allies of the Nyesom Wike camp, have begun reconciliation talks following the recent Court of Appeal ruling on the party’s leadership crisis. Sources within the party disclosed that both factions are holding consultations to either establish a harmonised caretaker committeeContinue Reading
The Nigeria Customs Service (NCS) has intercepted 13 containers loaded with expired pharmaceutical products, codeine-based medicines and other prohibited items at Apapa Port, with a Duty Paid Value (DPV) of ₦6.38 billion. The Comptroller-General of Customs, Bashir Adewale Adeniyi, disclosed this on Tuesday in Lagos while briefing journalists, describing theContinue Reading
The Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi, on Tuesday commissioned a state-of-the-art Analytical Centre built by the Apapa Area Command to strengthen intelligence-driven customs operations. Speaking at the event, the Apapa Area Controller, Comptroller Oshoba, said the facility—named CGC Bashir Adewale Adeniyi Analytical Arena—marks a new eraContinue Reading
Troops of the Joint Task Force (North East) under Operation HADIN KAI (OPHK) have successfully repelled coordinated attacks by terrorists suspected to be members of the Islamic State West Africa Province (ISWAP) on several military positions in Borno and Yobe states. The attacks occurred overnight between March 8 and 9,Continue Reading
By Godwin Obi Businesses across Nigeria are bracing for a fresh wave of inflation after the price of Premium Motor Spirit (petrol) surged to about N1,300 per litre in several parts of the country on Monday. Economists and members of the Organised Private Sector warned that the development could triggerContinue Reading