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Botswana, Tanzania, Nigeria initiate retaliatory action against South Africa over worsening xenophobic attacks
Amid ongoing anti-immigration protests and violent xenophobic attacks against African migrants residing in South Africa, the governments of Tanzania, Botswana and Nigeria have initiated process of retaliatory action on South Africa and its businesses located in their countries. It…
Nigeria’s PMI drops in April
Nigeria’s economic activities shrunk to 49.4 points from its previous 50-point threshold, according to the Central Bank of Nigeria (CBN). The CBN which disclosed this in its newly-released Purchasing Managers’ Index (PMI) report for April 2026, noted that the…
Petrol prices rise by 22.55% — NBS
National Bureau of Statistics (NBS) has disclosed in its Price Watch report for March 2026, that the average retail price of premium motor spirit (PMS) also known as petrol rose to N1,288.54, representing a 2.13 per cent year-on-year increase…
Senate confirms Umar as NMDPRA, as new boss assures on national energy security
Senate has confirmed Rabiu Umar as the new Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Umar was screened by the senate, last Tuesday, May 5 following his nomination for the post by President Bola Tinubu,…
Shell plc posts $6.9 bn Q1 profit, expands upstream growth with ARC deal
Ziggy Ojiegbe Shell plc delivered a strong set of first-quarter results for 2026, pointing at the resilience of its integrated energy portfolio despite what the company described as unprecedented disruption across global commodity markets. The energy giant reported adjusted earnings…
M/East conflict: Iran, Nigeria, others count losses
Nearly three weeks into the enforcement of a United States’ naval blockade in the Strait of Hormuz, restricting all ships originating from and entering Iranian ports, the Wall Street Journal (WSJ) has calculated that the development may be costing Iran…
NLNG’s inaugural Creative Arts Prize receives 98 entries
Frank Okon The Nigeria LNG Limited (NLNG) has received 98 entries for the maiden edition of The Nigeria Prize for Creative Arts following the close of submissions on Thursday. The inaugural competition, which focuses on documentary filmmaking, is themed “Identity”…
Domestic refiners undersubscribe allocated Q1 crude oil feedstock
Ziggy Ojiegbe Refiners in Nigeria’s emerging downstream sector declined to purchase a significant portion of crude oil allocated to them in the first quarter of 2026, despite increased supply from producers, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)….
NNPC Limited declares N2.89 trn Q1 payment to Federation Account
Posts decreasing sales volumes during high price cycle Frank Okon The Nigerian National Petroleum Company (NNPC) Limited remitted N2.89 trillion into the federation account in the first quarter of 2026, underlining its continued role as the backbone of government revenue…
NUPRC: Nigeria’s energy policy goals align with decarbonization
Gas agenda to generate 3 GW of power, support fuel diversification Frank Okon Nigeria’s oil and gas industry may be entering a new phase of growth, as sweeping reforms, rising investor interest, and a stronger push toward energy transition begin…
