Author: Ogochukwu Ndubuisi

Logistics, Crude Sourcing, Others Drive Fuel Price Volatility – NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has identified crude oil sourcing, single-source domestic refining, logistics and transportation costs among factors driving volatility in fuel pump prices. Mr George Ene-Ita, Head, Public Affairs, NMDPRA, made this known in an interview with the News Agency of Nigeria in Abuja on Sunday. Ene-Ita described the issues surrounding continuous fuel price increases as knotty, adding that fuel prices have been fully deregulated and are therefore subject to market volatility. He said crude oil sourcing as feedstock and the time lag between…

The Nigerian local currency unit, the naira, gained value against the US dollar in the official

Access Bank Tops Nigerian Lenders in Africa’s Top 30 Ranking at $30.4bn Nigeria’s biggest banks have secured their place among Africa’s 30 largest banks by total assets in 2026, but the latest ranking by Africa Trade Finance Company (ATFC) shows they remain mid-table on the continent. According to the ATFC ranking, which is based on publicly available information and total assets in USD billions for 2026, five Nigerian banks made the top 30. Access Bank Group leads the Nigerian pack at No. 14 in Africa, with $30.4 billion in total assets, making it Nigeria’s largest bank by asset size. United…

IRGC Says US Blockade on Iran Could Backfire Economically Iran’s Islamic Revolutionary Guard Corps (IRGC) warned on Sunday that the US economic and maritime blockade against Tehran could ultimately inflict greater costs on Washington than on Iran itself. “If the US wants to inflict one dollar of economic damage on Iran, it may face several dollars in costs and losses itself,” IRGC spokesman Brig. Gen. Hossein Mohibi told Iranian media. Mohibi insisted Iran would not bow to sanctions or outside pressure, arguing that US President Donald Trump had gambled on American military might – its naval fleet and aircraft carriers…

FG Opens N2.5bn Grant Window for 50 Student Innovators The Federal Government has opened applications for the second cohort of its Student Venture Capital Grant, offering up to N50 million each to 50 outstanding student-led ventures nationwide. ‎The National Coordinator, Special Programme Operations and Implementation Unit (SPOI) at the Federal Ministry of Education, Mr Adebayo Onigbanjo, announced this at a news conference on Friday in Abuja. ‎Onibanjo said the initiative, also known as the “Next Moonshot Initiative,” would provide equity-free funding to student entrepreneurs with Science, Technology, Engineering and Mathematics (STEM)-based business ideas. ‎He said the application portal had been…

China, Not OPEC, Calls Shots on Global Energy Markets – Sechin Igor Sechin, chief of Russia’s top oil producer Rosneft and one of President Vladimir Putin’s most influential allies, said on Thursday that China, not OPEC, is now stabilizing global oil markets. Speaking at a Russian-Chinese business forum in the far eastern city of Vladivostok on September 4, Sechin said China has effectively taken the lead from the cartel. “This year, China has effectively taken the lead from OPEC and, without being a member of any cartel, has managed to stabilise the global oil market by cutting its oil imports…

The Nigerian Exchange (NGX) All-share index (ASI) jumped by 15 basis points as Seplat…

With a 10% gain, Seplat and UPDC Real Estate Investment Trust (UPDCREIT) drove the Nigerian Exchange

Asian Nations Rush to Expand Energy Storage After Strait of Hormuz Crisis Asian economies are racing to build oil and gas storage closer to home to cut exposure to Middle East conflict after the US-Israel-Iran war choked shipping through the Strait of Hormuz, where traffic fell to a trickle. Heavily reliant on Gulf energy, the region imposed emergency fuel conservation when prices surged in February, then moved to permanent solutions. Japan, which weathered the crisis better due to large strategic reserves, announced in April a $10bn POWERR Asia initiative to help Southeast Asia procure oil and build stockpiles. At the…

AI-Driven Disinformation Major Threat to 2027 General Elections – Amupitan Chairman of Independent National Electoral Commission (INEC), Prof. Joash Amupitan, has warned that the growing Artificial Intelligence-driven disinformation poses major threat to the credibility of 2027 general election. This is contained in a statement issued by the INEC Director of Voter Education and Publicity, Mrs Victoria Eta-Messi. Eta-Messi quoted Anupitan as giving the warning in a keynote address delivered at the 13th Annual International Conference of the Association of Communication Scholars and Professionals of Nigeria (ACSPN) in Abuja on Wednesday. Amupitan was was represented by a National Commissioner, Sani Adam,…