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Global oil prices dropped sharply and stock markets rallied on Wednesday after reports emerged that the United States had transmitted a peace proposal to Iran, while Tehran announced it would allow vessels it deemed non-hostile through the Strait of Hormuz, offering the first concrete signs that nearly four weeks of conflict could be winding…
Nigeria’s nascent battle against inflation faces a fresh assault from global energy markets, despite a marginal dip in headline figures. Data for February 2026 shows inflation eased to 15.06% year-on-year, down from 15.10% in January. While this appears positive compared to the 26.27% recorded a year ago, the Centre for the Promotion of Private Enterprise…
Mounting economic pressure linked to the Middle East conflict has pushed the Spanish government to roll out an emergency €5 billion support package, combining tax cuts, subsidies and price controls aimed at easing the burden on households and key productive sectors. Prime Minister Pedro Sánchez announced the measures after an emergency cabinet meeting, describing…
United States President Donald Trump has issued a stark warning that the North Atlantic Treaty Organization faces a “very bad” future if European allies refuse to contribute military resources toward reopening the Strait of Hormuz, the strategic waterway effectively closed by Iran during the escalating Mideast conflict. Speaking to The Financial Times in a…
Nigerian households are facing a sharp increase in energy costs as the escalating US-Israel-Iran war disrupts global natural gas production and shipping. Local depot owners raised the price of Liquefied Petroleum Gas (LPG) by an average of ₦100 per kilogram on Tuesday. Major distributors, including Nipco Plc and Navgas Limited, have adjusted their rates to…
The Nigerian National Petroleum Company Limited recently shifted the narrative regarding our nation’s dormant refineries. The Chief Executive Officer, Engr. Bayo Ojulari attributed the persistent failure of these facilities to weak internal operational structures. This admission contradicts the long-standing public belief that insufficient funding stalled the necessary rehabilitation work. Leadership within the state-owned oil firm…
