How The US-Iran Crisis Is Reshaping Nigeria’s Fiscal Reality

    Nigeria has recorded an estimated oil revenue windfall of approximately N5.13 trillion within two months, as global crude prices surged sharply amid the escalating conflict between the United States and Iran, a development that has simultaneously delivered fiscal relief to the government and fresh economic hardship to ordinary citizens. International benchmark Brent crude…

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Oil Price Surge Pressures Nigerian Aviation Sector

    Nigeria’s domestic aviation sector remains under pressure as airlines continue operations despite renewed threats of a shutdown over rising jet fuel costs, highlighting deep tensions between global oil shocks and local pricing realities. Carriers under the Airline Operators of Nigeria had warned of a possible suspension of services, yet flight data shows key…

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Naira Gains Marginally As FX Turnover Surges

  Nigeria’s currency posted a marginal gain against the US dollar at the official window, supported by a sharp rise in foreign exchange turnover and improved liquidity conditions, according to latest market data. Figures released by the Central Bank of Nigeria show the naira appreciated by 0.09 per cent to close at N1,379.46 per dollar,…

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NMDPRA Recommends Direct Fuel Sales to Airlines

  Nigeria’s aviation fuel market is facing renewed regulatory intervention as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) moves to stabilise rising costs affecting domestic airlines. A technical committee convened by the regulator on April 24, 2026, has recommended that Jet-A1, commonly known as aviation fuel, should be sold within a price band…

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Global Markets Fluctuate As Trump Halts US-Iran Diplomatic Talks

  Global oil markets recorded sharp gains on Monday following the collapse of planned peace negotiations between the United States and Iran, prolonging an eight-week military standoff that continues to disrupt international shipping. US President Donald Trump abruptly cancelled a scheduled diplomatic mission to Pakistan over the weekend, citing a lack of substantial progress, while…

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Obasanjo Dismisses NNPC Refinery Search As Exercise In Futility

  Billions of dollars in rehabilitation contracts and a decades-long search for efficiency have failed to shift former President Olusegun Obasanjo’s conviction that Nigeria’s state-owned refineries are beyond repair. As the Nigerian National Petroleum Company (NNPC) Limited pushes toward a June 2026 deadline to secure technical partners for the Port Harcourt, Warri, and Kaduna facilities,…

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