Nigeria will take centre stage at this year’s Gastech Exhibition and Conference in Milan, leading a delegation of seven African nations at the global gas industry’s flagship summit from 9–12 September. The event, which brings together ministers, policymakers, and industry leaders from more than 140 countries, will focus on building solutions to pressing energy challenges…
Filling stations across Ibadan were partly shuttered on Monday after unions in Nigeria’s oil distribution sector launched an indefinite strike, raising fears of fuel shortages in the coming days. The industrial action was declared by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG). The…
OPEC+ has announced plans to raise crude oil production by 137,000 barrels per day in October, easing part of its voluntary output cuts in response to steady market conditions. The decision was confirmed in a statement released on the group’s website after a virtual meeting of eight member states, including Saudi Arabia, Russia, Iraq, the…
The Association of Distributors and Transporters of Petroleum Products (ADITOP) has publicly opposed the strike action declared by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), aligning instead with Dangote Refinery’s new fuel distribution model. NUPENG had earlier announced its intention to embark on an indefinite strike beginning Monday, citing concerns over alleged…
Afrinvest (West Africa) Ltd. has marked its 30th anniversary with the release of its 20th Nigerian Banking Sector Report, setting out strategies to help Nigeria achieve its ambition of becoming a $1 trillion economy. The report, themed “ACT-BOLD: Turbocharging Nigeria to a New Growth Frontier,” urges policymakers and investors to embrace bold reforms across seven…
Nasarawa State is set to welcome President Bola Tinubu to commission a brand-new 6,000-metric-ton lithium processing plant, highlighting Nigeria’s bid to capture more value in the global energy transition. Governor Abdullahi Sule confirmed the President’s forthcoming visit after meeting him on Wednesday at the State House, Abuja. Built by Chinese investors, the plant is the…
President Bola Tinubu has defended his government’s sweeping economic reforms, insisting they have stabilised Nigeria’s fragile economy and restored confidence among investors and international partners. “The bleeding has stopped. The haemorrhage is gone. The patient is alive,” Tinubu said on Tuesday during a meeting with Oba Ghandi Olaoye, the Soun of Ogbomosoland, at the presidential…
The Central Securities Clearing System (CSCS) has confirmed that Nigeria’s capital market will move to a T+2 settlement cycle on 28 November, in line with global best practice and a directive from the Securities and Exchange Commission (SEC). CSCS CEO Haruna Jalo-Waziri described the reform as a “major milestone” that would improve liquidity, cut settlement…
India’s textiles, leather, jewellery and footwear sectors are warning of massive losses after U.S. tariffs of up to 50 per cent came into effect last week, severely curbing exports. The Trump administration’s move — doubling duties after India refused to halt Russian oil purchases — has left labour-heavy industries struggling to cope, according to local…
Nigeria’s decision to halt the export of raw shea nuts for six months will strengthen local processors and cut production costs, the head of the Nigerian Export-Import Bank (NEXIM) has said. Managing Director Abba Bello told youth members of the ruling All Progressives Congress (APC) in Abuja on Tuesday that the measure would help Nigeria…
