Nigeria’s economic outlook received a boost as the naira traded at ₦1,382.33 per US dollar at the official foreign exchange market, while the country’s crude oil production climbed to its highest level in 74 months, exceeding its production quota set by the Organization of the Petroleum Exporting Countries (OPEC). According to the latest figures from…
Tensions in the Middle East have escalated sharply after the United States launched a fresh wave of military strikes against Iranian targets, prompting Tehran to declare the strategic Strait of Hormuz closed until further notice. According to U.S. Central Command, the strikes targeted Iranian air defence systems, missile sites, radar installations and naval assets following…
Global oil markets remain on high alert as crude prices continue to fluctuate between $76 and $80 per barrel, driven by renewed military exchanges between the United States and Iran and growing uncertainty over the security of the Strait of Hormuz. Brent crude traded around $76–$77 per barrel on Friday after briefly climbing above $80…
The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has saved $3.4 billion through an aggressive contract restructuring and optimisation programme, while remitting ₦19.5 trillion to the Federation Account over the past 14 months. Group Chief Executive Officer, Bayo Ojulari, disclosed the figures during the opening of the 25th Nigeria Oil & Gas (NOG)…
Nigeria’s economy received a modest boost on Monday as the naira remained relatively stable in the official foreign exchange market while major fuel suppliers announced fresh reductions in petrol depot prices following Federal Government intervention. The naira continued to trade within a stable range at the Nigerian Foreign Exchange Market (NFEM), reflecting sustained liquidity and…
Nigeria recorded fresh economic milestones this week as the naira remained relatively stable against the U.S. dollar while the Dangote Petroleum Refinery continued to strengthen the country’s position in the global energy market through record aviation fuel exports to Europe. The naira traded at around ₦1,370 to the U.S. dollar in the official foreign exchange…
Nigerians hoping for immediate relief at filling stations after a fresh petrol price reduction by the Dangote Petroleum Refinery have been met with continued high pump prices, as many retailers maintain existing rates while waiting to clear older fuel tock. The refinery recently reduced its ex-depot price for Premium Motor Spirit (PMS), commonly known as…
Nigeria’s economic community is locked in renewed debate following a sharp downturn in global crude oil prices, triggering by easing geopolitical tensions after a breakthrough United States-Iran peace deal that has reshaped energy market expectations. International benchmarks such as Brent crude have fallen significantly in recent days, with prices slipping to around a three-month low…
