Petrol Price Chaos: Nigerians Face Fresh Burden
By Gideon Osaka
In May 2023 when the multibillion-dollar Dangote Refinery was officially commissioned, it was hailed as a national pride and a monumental achievement for Nigeria’s petroleum sector. The 650,000 barrels per day (bpd)!-->!-->!-->!-->!-->…
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Sub national Debt Rises to N4.36trn, Lagos Tops with N1.04trn
Nigeria’s sub national debt burden climbed to N4.36 trillion in 2025, underscoring growing fiscal pressure on state governments, with Lagos State retaining its position as the most indebted at N1.04 trillion.
Latest data released by!-->!-->!-->!-->!-->…
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UN Experts Demand Immediate EU Suspension of Israel Trade Deal
A group of UN experts called on the European Union to immediately suspend its trade agreement with Israel, arguing that maintaining preferential market access for the Israeli regime is the minimum measure required.under international!-->!-->!-->…
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Oil Surges 6% as U.S.–Iran Tensions Tighten Supply Outlook
Global oil prices rallied sharply on Monday, with benchmarks gaining up to 6 per cent as escalating tensions between the United States and Iran heightened fears of supply disruption.
International benchmark Brent crude jumped by 5.5!-->!-->!-->!-->!-->…
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Oil firms pay $646m gas flaring penalty, highest in five years
Oil and gas companies operating in Nigeria paid an estimated $646 million in gas flaring penalties in 2025, the highest level in five years, as emissions surged.
This development revealed persistent gaps in the country’s!-->!-->!-->!-->!-->…
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How 50 days of the Iran war led to the loss of $50 billion worth of oil
The global oil market has lost more than $50 billion worth of crude since the Iran war began nearly 50 days ago, with analysts warning that the effects could last for months or even years.
More than 500 million barrels of crude and!-->!-->!-->!-->!-->…
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Shell/NNPC, partners, deliver Geosciences Centre of Excellence at UNILAG
L–R: Chief Investment Officer, NNPC Upstream Investment Management Services Ltd (NUIMS), Mr Olanrewaju Igandan; Lagos State Honourable Commissioner for Tertiary Education, Mr Tolani Sule; Managing Director, Shell Nigeria Exploration and!-->…
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FG Borrows N100bn From Dormant Accounts Unclaimed Dividends
... As Debt Pressure Mounts
Fresh records from Nigeria’s Debt Management Office (DMO) have shown that the Federal Government has raised N100 billion through the Unclaimed Funds Trust Fund (UFTF), drawing on dormant bank balances and!-->!-->!-->!-->!-->…
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FG denies hidden spending, revenue diversion
The Federal Government has dismissed reports alleging hidden spending and diversion of federation revenue, describing them as a misrepresentation of findings by the World Bank.
A statement by the Minister of State for Finance, Taiwo!-->!-->!-->!-->!-->…
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We Spent Billions Of Dollar On 4 Refinery None Is Producing And Tinubu Didn’t See Wrong In…
The presidential candidate of the Action Democratic Party (ADP) in the 2023 general elections, Sani Yusuf Yabagi, has criticised the state of Nigeria’s oil refining sector, describing it as a costly failure despite years of heavy!-->!-->!-->…
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Dangote Sugar Shareholders Approve ₦500 Billion Rights Issue at 20th AGM
Shareholders of Dangote Sugar Refinery Plc have approved a plan to raise up to ₦500 billion through a rights issue, alongside key board and governance resolutions, at the company’s 20th Annual General Meeting held in Lagos.
The!-->!-->!-->!-->!-->…
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