By Frontline Reporters State governments have called for a forensic audit of Nigeria’s crude oil-backed borrowing arrangements, warning that opaque crude-for-loan and swap deals may be reducing inflows into the Federation Account. An earlier report by Frontline Reporters showed that the Nigerian National Petroleum Company Limited (NNPC Ltd) pledged aboutContinue Reading

Nine senators on Thursday defected from their respective political parties to the African Democratic Congress (ADC), signalling one of the most significant political shifts in the Nigerian Senate in recent months. The defections were announced during plenary by Senate President Godswill Akpabio, who read letters submitted by the lawmakers formallyContinue Reading

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