Browsing: Business

Iran-Israel Tensions: Petrol Price in Nigeria May Rise to ₦1,000/Litre as Crude Oil Soars

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…

Australia Imposes Sanctions on Russia’s ‘Shadow Fleet’ of Oil Tankers

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,…

China to Introduce Zero-Tariff Policy for Nigeria and 52 Other African Nations

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…

America’s Leading Banker Calls on U.S. to Prioritize Stockpiling Weapons Over Bitcoin

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…

“Dangote, BUA Agree to Maintain Cement Prices for Federal Government Projects”

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…

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