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Strait of Hormuz to reopen by Friday, as oil prices drop to 3-month low over U.S, Iran peace deal
Following announcement by the United States President, Donald Trump, last weekend, that a deal to end the near-four month war with Iran is ‘all signed,’ crude oil prices took a huge tumble to as low as below the $80 mark. This…
Dangote unveils plan for Nigeria’s largest industrial zone in Ondo
President of the Dangote Group, Aliko Dangote, has unveiled plans to develop what is expected to become Nigeria’s largest industrial and free trade zone in Olokola, Ondo State, in a move aimed at accelerating industrialisation, boosting manufacturing and creating thousands…
Iran war deescalated but oil market risk remains elevated __Rystad
Global energy consultancy Rystad Energy has described the newly signed Memorandum of Understanding (MOU) between the United States and Iran as a significant de-escalation of tensions rather than a lasting resolution, warning that geopolitical risks in global oil markets remain…
UK appoints Peter Vowles new High Commissioner to Nigeria
The United Kingdom Government has announced the appointment of Peter Vowles as the next British High Commissioner to Nigeria, reinforcing diplomatic ties between the two countries. According to the announcement, Vowles will assume office in Abuja in September 2026, succeeding…
Nigeria’s headline inflation maintains three-month rise, hits 15.93% in May
National Bureau of Statistics (NBS) has disclosed in its just-released Consumer Price Index (CPI) report that Nigeria’s headline inflation rate jumped to 15.93 per cent in May 2026. NBS’ CPI data, released, Monday, showed that the increase was to 140.7…
FG moves to stabilise domestic LPG market, directs producers to prioritise local consumption
Federal Government has moved to address the scarcity and consequent high prices of the liquefied petroleum gas (LPG) commodity, also known as cooking gas, across the country, as it has directed producers to prioritise supply to local consumers in the…
Store payment transaction data on local servers, CBN directs banks, fintechs, others
Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs), fintechs, and other payment service providers, operating in the country to begin storing their payment transaction data generated within the country on local servers, effective January 1, 2027. CBN…
FG, states, LGs share N2.3trn for April revenue allocation, amid excise duty tax decline
Federation Account Allocation Committee (FAAC) has shared a total of N2.257 trillion as revenue for April 2026 among the Federal Government, States, and Local Government (LGs). This is also as Nigeria’s receipts from excise duty declined, while company income taxes and…
United Nigeria Airlines takes delivery of two B737-800 aircraft, christens planes after Onitsha monarch, literary icon
United Nigeria Airlines (UNA) has marked a significant milestone in its expansion drive as it takes delivery of two new Boeing 737-800NG aircraft. The new arrivals also marks a departure from the airline’s Bombardier fleet of aircraft. The aircraft arrived…
NNPCL’s early retirement scheme draws over 70% staff to exit door
Early retirement scheme introduced by the Nigerian National Petroleum Company Limited (NNPCL) has now seen an unexpected wave of acceptance, as over 70 per cent of the company’s staff have applied for retirement. The retirement initiative, structured under the Accelerated Exit…
