War: Oil prices fall as US, Iran reach ceasefire agreement
Oil prices have gone down, while stocks are rising and bonds are becoming stronger after the United States and Iran agreed on a two-week ceasefire. This move is expected to help bring peace to the Middle East. However, it is still not clear how this agreement will affect Nigerians. Many people in Nigeria are already […]
Dubai experience shows no investment is completely safe – Shehu
Public affairs commentator Mahdi Shehu has warned investors that no investment is entirely safe, citing recent events in Dubai as a clear example. Shehu noted that Dubai built a strong reputation over the last 30-40 years as a global hub for investment, attracting investors worldwide. Despite its infrastructure, liberal policies, and perceived safety, recent developments […]
Domestic Refining: Petrol Price Lower In Nigeria Than US, UK, Ghana, Others
Nigeria continues to rank among countries with relatively low petrol prices, even as global energy costs rise. Recent data shows that fuel remains more affordable locally compared to several major economies and African neighbours. According to global pricing reports, petrol in Nigeria averages about $0.88 per litre. This is far below the global average, showing […]
Egypt raises fuel prices up to 30% as Middle East war bites
The government of Egypt has increased fuel prices by as much as 30 percent due to global energy pressure linked to the ongoing conflict in the Middle East. The announcement was made by the Egyptian Ministry of Petroleum and Mineral Resources, which said the adjustment affects gasoline, diesel and vehicle natural gas. Officials explained that […]
Buy Nigerian crude to undercut Russia’s war chest – Financial expert urges EU, US
A Nigerian financial expert, Kalu Aja, has called on Western nations, particularly the European Union (EU) and the United States (US), to consider purchasing Nigerian crude oil as a strategic measure to weaken Russia’s financial ability to sustain its war in Ukraine. In a post shared on X (formerly Twitter) on Thursday, Aja argued that […]
Trump, Xi to meet as US-China trade tensions reignite
Tensions between the United States and China have resurfaced, prompting Presidents Donald Trump and Xi Jinping to schedule a meeting later in October. The renewed strain comes after Washington threatened to impose additional 100 percent tariffs on Chinese goods, a move seen as retaliation for Beijing’s decision to tighten export controls on rare earth materials. […]
Trump threatens Canada with 35 per cent tariff rate starting August 1
Former U.S. President Donald Trump has told Canadian Prime Minister Mark Carney that the U.S. will start charging a 35% tax on goods from Canada starting August 1. He made this official in a letter sent on Thursday, July 10. Canada now joins other countries affected by Trump’s recent trade decisions. This news comes while […]
Tariff war could cut US-China goods trade by 80% – WTO Chief Okonjo-Iweala
The head of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has warned that the trade war between the United States and China could cut goods trade between the two countries by 80%. She said this could also hurt the rest of the world’s economy. “The escalating trade tensions between the United States and China pose […]
Inflation and global economic disruptions hindering ECOWAS single currency launch – Wale Edun
The Economic Community of West African States (ECOWAS) has been working toward introducing a single currency, the Eco, to improve trade and economic stability in the region. However, the plan has faced multiple delays due to economic challenges. Nigeria’s Finance Minister, Wale Edun, recently explained that inflation and global economic disruptions are key obstacles preventing […]
Nigeria’s Adeyemi-Bero appointed Chair of OPEC Board of Governors
The Organisation of Petroleum Exporting Countries (OPEC) has named Nigeria’s Ademola Adeyemi-Bero as the Chairman of its Board of Governors for the year 2025. This announcement was made following the 189th OPEC Conference, and confirmed in a statement by Nneamaka Okafor, a media aide to Nigeria’s Minister of State for Petroleum, Senator Heineken Lokpobiri. Prior […]