Global crude oil prices are nearing $80 per barrel amid escalating tensions between the United States and Iran, following reports of coordinated U.S.-Israeli airstrikes on key Iranian nuclear facilities. The market is reacting sharply, with fears growing over a potential wider conflict in the Middle East. In Nigeria, petroleum marketers warn that petrol pump prices…
At least 32 cows were reportedly killed by lightning during a heavy downpour in the Osara, Obantoko area of Abeokuta, located in the Odeda Local Government Area of Ogun State. According to the Baale of Osara, Chief Wasiu Afolabi, the incident occurred during a torrential rainstorm that began around noon on Saturday, June 21, 2025.…
The Yobe State Hisbah Commission on Thursday, January 19, oversaw the destruction of 243 cartons of confiscated alcoholic beverages at Maina Lodge in Damaturu. The items had been seized three weeks earlier during a coordinated enforcement operation. The exercise was led by the Chairman of the Commission, Dr. Yahuza Hamza Abubakar, and witnessed by security…
Australia has imposed sanctions on Russia’s so-called “shadow fleet” of oil tankers for the first time, targeting 60 vessels allegedly involved in helping Moscow circumvent international sanctions. The Department of Foreign Affairs and Trade (DFAT) announced the move on Wednesday, noting that the ships had already been sanctioned by key allies, including the United Kingdom,…
The Nigerian stock market extended its downward trend on Tuesday, June 17, as investors suffered a ₦183 billion loss in market value. The Nigerian Exchange Ltd. (NGX) saw its total market capitalization fall from ₦72.680 trillion on Monday to ₦72.497 trillion at the close of trading. The All-Share Index dropped by 348.61 points, or 0.30%,…
China has announced the full implementation of a zero-tariff scheme covering 53 African countries, including Nigeria, as part of the Changsha Declaration—further strengthening economic ties within the Forum on China-Africa Cooperation (FOCAC). The announcement came from China’s Ministry of Foreign Affairs following a high-level meeting in Changsha between Chinese officials and African foreign ministers. This…
The Federal Government’s bid to secure a $5 billion oil-backed loan from Saudi energy giant Aramco is facing major hurdles, as falling global crude prices rattle investor confidence. A report by Reuters, citing four sources close to the deal, reveals that the steep drop in oil prices has triggered concerns among banks expected to co-finance…
JPMorgan Chase CEO Jamie Dimon has issued a strong warning to U.S. leadership, urging the government to focus on bolstering national defense by stockpiling weapons, ammunition, and critical military supplies instead of accumulating cryptocurrency reserves. Speaking at the inaugural Reagan National Economic Forum in California, Dimon highlighted concerns about the nation’s defense readiness amid rising…
Mark Zuckerberg saw his net worth surge by $8 billion on Monday, June 2, 2025, after shares of Meta Platforms Inc. rose nearly 4%, fueled by renewed investor enthusiasm over the company’s deepening investment in artificial intelligence. Meta’s stock jumped $23.41 to close at $670.90, far outpacing the broader S&P 500’s modest 0.4% gain. The…
In a strategic move to bolster President Bola Tinubu’s economic recovery agenda, Chairman of BUA Group, Abdul Samad Rabiu, announced on Thursday, May 15, that BUA and Dangote Cement have agreed to freeze the price of cement for all contractors engaged in Federal Government projects under the Renewed Hope initiative. The announcement followed a meeting…
