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The naira remained largely unchanged on Thursday, trading at 1,379.50 against the dollar. Data from the Nigerian Foreign Exchange Market show the currency opened at 1,378.98 before hitting an intraday peak of 1,380.00. This stability persists despite a volatile global backdrop that threatens to upend emerging market currencies. Local trading activity stayed moderate as dealers…
The Dangote refinery has emerged as a critical energy lifeline for Africa as the conflict between the United States and Iran paralyses Middle Eastern shipping. Operating at its full 650,000-barrel-per-day capacity, the Lagos-based facility recently exported 17 cargoes of petrol to nations across West, Central, and East Africa. This surge in regional trade follows the…
US President Donald Trump has issued a 48-hour deadline for Iran to reopen the Strait of Hormuz or face “all-out hell” through overwhelming military action. The ultimatum, posted on Truth Social on Easter Sunday, follows six weeks of a joint US-Israeli campaign that has rattled global oil markets and left thousands dead. Trump’s warning coincides…
President Donald Trump has warned that the United States will hit Iran “extremely hard” for the next two to three weeks to force an end to the month-long conflict. In a televised address from the White House on April 1, Trump claimed the war’s “core strategic objectives” are nearly met. He sought to reassure a…
