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Energy
Nigerian Crude Falls Below $70 as Global Oil Market Faces Oversupply Fears
Crude oil prices for Nigeria's main export grades—Bonny Light, Brass River, and Qua Iboe—have fallen below $70 a…
Iran-Israel Conflict Poses New Threats and Opportunities for Nigeria’s Fragile…
The escalating conflict between Israel and Iran is reshaping global economic dynamics, with ripple effects…
Marketers Expect Petrol Price Drop as Global Crude Oil Rates Fall
Petroleum marketers in Nigeria are anticipating a reduction in petrol pump prices following a notable drop in…
‘Dangote’s Investment Of N720bn On CNG Trucks To Save Nigerians N1.7trn’
Dangote Petroleum Refinery has invested over N720 billion in the deployment of 4,000 Compressed Natural Gas…
Petrol Prices Surge Past ₦950/Litre in Nigeria Amid Global Tensions, Naira Slide
Petrol prices across Nigeria climbed steeply on Monday, with pump prices in major cities like Abuja and Lagos now…
Nigeria Earns N70tn from Oil Exports Despite Weak Output and Sector Challenges
Nigeria has generated a substantial N70.1 trillion in oil export revenue over a 15-month period from January 2024…
Oil Prices Could Soar to $150 as Iran Approves Strait of Hormuz Closure Amid…
In a bold geopolitical move, Iran’s parliament has approved the closure of the Strait of Hormuz, a narrow but…
Dangote Refinery Set to Export First Petrol Cargo to Asia, Signaling Global…
The Dangote Petroleum Refinery, Africa’s largest oil refining facility, is preparing for its first gasoline export…
Senate Demands Explanation from NNPCL Over Missing N210 Trillion in Financial…
The Nigerian Senate has issued a one-week ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) to…
Nigerian Power Sector and Government Lag Behind in Digital Resilience, NESG Warns
At a biennial lecture in Lagos organized by the Chartered Institute of Directors, the CEO of the Nigerian Economic…
Nigeria Imports N1.2tn Worth of Crude Despite Being Africa’s Top Oil Producer
Nigeria, despite being Africa's largest oil producer, imported crude oil worth N1.19 trillion in the first quarter…
Nigeria Becomes Crude Oil Importer Despite Being Africa’s Top Producer
In a striking contradiction, Nigeria—Africa's leading oil producer—spent N1.19 trillion importing crude oil in the…
Breaking: Markets Steady Amid Rising Israel-Iran Tensions and Global Economic…
Despite a dramatic escalation in the Israel-Iran conflict over the weekend, global markets opened the week on a…
Nigeria’s Crude Export Earnings Drop to N12.96tn Amid Refining Setbacks and…
Nigeria’s crude oil export earnings fell to N12.96 trillion in the first quarter of 2025, representing a 16.34%…
Asia Stocks Steady Amid Oil Price Surge and Geopolitical Tensions
Asian stock markets showed resilience on Monday despite heightened geopolitical uncertainty driven by ongoing…
Nigeria’s Telecom Sector Bleeds $350 Million Annually on Diesel Amid Power Crisis…
Nigeria’s telecommunications industry spends over $350 million annually on diesel to power its infrastructure,…
Nigeria’s $5 Billion Aramco Loan Stalls Amid Falling Oil Prices and Supply…
Nigeria’s ambitious plan to secure a $5 billion oil-backed loan from Saudi oil giant Aramco has encountered…
Nigeria and Saudi Aramco’s $5bn Oil-Backed Loan Stalls Amid Crude Price Drop
Nigeria and Saudi Aramco are facing major hurdles in finalizing a landmark $5 billion oil-backed loan, as falling…
Nigerian Marketers Strike Global Deal to Cut Petrol Price to N700/Litre Amid…
Nigerian petroleum marketers have partnered with international suppliers to import cheaper fuel, aiming to reduce…
Dangote Promises Major Overhaul of Nigeria’s Oil Sector Following Tinubu’s…
Aliko Dangote, President of the Dangote Group, has announced plans for a sweeping transformation of Nigeria’s…
Depot Price War: Six Operators Slash Petrol Rates as Competition Heats Up
Amid growing competition in Nigeria’s downstream petroleum sector, six depot operators have reduced the price of…
Oando deepens upstream investment with $375m financing deal
Oando PLC, a leading Nigerian energy company listed on both the Nigerian and Johannesburg Stock Exchanges, has…
Oil Dips Over 1% as Surging U.S. Fuel Stocks Overshadow Crude Draw and Demand…
Oil prices fell by just over 1% on Wednesday following the release of U.S. government data revealing a sharp and…
Firms Blame Soaring Energy and Transport Costs for Nigeria’s Persistent Inflation…
The Central Bank of Nigeria (CBN) has revealed that a vast majority of Nigerian firms cite high energy costs as…
Ghana’s Inflation Drops to 18.4% in May, Lowest Since 2022 Amid Falling…
Ghana's annual inflation rate dropped sharply to 18.4% in May 2025, marking a significant decline from April’s…
50% crude output now produced by local firms – Report
Nigeria’s oil and gas industry is undergoing a major transformation, with indigenous companies now responsible for…
ANRPM Commends Tinubu’s Oil Sector Reforms, Backs Economic and Tax Initiatives
The Association of Nigerian Refineries Petroleum Marketers (ANRPM) has praised President Bola Tinubu on his second…
Presidency Moves to Resolve N2 Trillion Power Debt Amid Sector Reforms
The Nigerian Presidency has initiated internal approval processes aimed at resolving the longstanding N2 trillion…
Nigeria’s Economic Reforms Target Forex Stability Amid Oil Price Slump
Nigeria’s foreign exchange reserves have declined significantly in the first four months of 2025, dropping from…
Fuel Marketers Join Forces Amid Price War Between Dangote and NNPC
In response to the instability caused by fluctuating petrol prices in Nigeria, fuel marketers are forming…