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The Dangote Petroleum Refinery has commenced large-scale exports of refined fuel to five African nations, marking a shift in West Africa’s energy dynamics. International traders recently moved 12 cargoes totalling 456,000 tonnes of petroleum products to markets in Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo. This milestone follows the facility reaching its full processing capacity…
United States President Donald Trump has threatened to “obliterate” Iran’s energy infrastructure unless the Strait of Hormuz is reopened within 48 hours. The ultimatum, posted to Truth Social on Saturday, expires at 23:44 GMT on Monday. Trump warned that the US would target Iranian power plants, “starting with the biggest one first,” if the world’s…
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced that Nigeria’s economy has successfully transitioned from a period of stabilisation to one of capital mobilisation. Speaking on Wednesday at the Africa Capital Forum in London, held on the sidelines of President Bola Tinubu’s state visit to the United Kingdom, Mr. Cardoso…
Israel has authorised an $827-million emergency budget to sustain its military operations as the conflict with Iran enters its third week. Cabinet ministers approved the 2.6-billion-shekel package over the weekend during an urgent telephone meeting. The funds are earmarked for “security purchases,” specifically the acquisition of munitions and advanced weapons systems to replenish stocks depleted…
The Federation Account Allocation Committee (FAAC) has disbursed N1.894 trillion to Nigeria’s three tiers of government for February 2026. The distribution, approved during a meeting in Abuja on Friday, saw the Federal Government take N675.088 billion, while the 36 states shared N651.525 billion. The 774 local government councils received N456.467 billion. Although the total shared…
The Nigerian military has neutralised a high-value jihadist commander and 21 other insurgents in separate strikes across the north. Major General Michael Onoja, Director of Defence Media Operations, confirmed on Friday that troops killed Abu Yusu, the “Munzir” of Dursula, during a botched ISWAP raid in Yobe State. Meanwhile, a patrol in Benue State uncovered…
The National Insurance Commission (NAICOM) has commenced the rigorous verification of 20 insurance companies as the industry races toward a July 30, 2026, recapitalisation deadline. To ensure the process remains beyond reproach, the regulator has hired “Big Four” global firms, PricewaterhouseCoopers, KPMG, Deloitte, and Ernst & Young, to audit the financial standing of these firms….
The Nigerian Naira maintained a stable trajectory against the US Dollar during early trading on Wednesday, March 11, 2026. Data from the Nigerian Foreign Exchange Market (NFEM) and parallel channels show the local currency has successfully resisted pressure from corporate demand. The Naira opened the day at ₦1,397.00 and, by mid-morning, was quoted at approximately…
President Bola Tinubu has signed the African Union Convention for the Protection and Assistance of Internally Displaced Persons (IDPs) into law. This landmark legislation, often referred to as the Kampala Convention, formally integrates the 2009 regional treaty into Nigeria’s domestic legal framework. The move aims to address the systemic failures in managing the nation’s displacement…
A recent media brief from the Federal Ministry of Finance has revealed a sobering reality for Nigeria’s national budget: over the last two years, the cost of paying back debt has systematically starved capital projects of funding. Between 2024 and 2025, the Federal Government spent ₦27.2tn on debt servicing, outstripping capital expenditure by ₦3.9tn. While…
