Author: Ogochukwu Ndubuisi

Oil Tops $90 as Iran Retaliates Against U.S. Strikes Oil prices surged, driven by renewed concerns over supply security in the region after the US attacked Lark Island near the Strait of Hormuz and Iran retaliated. International benchmark Brent crude futures for November delivery traded at $90.32 per barrel, up 4.8% from the previous close of $86.12. US benchmark West Texas Intermediate (WTI) crude futures for October delivery traded at $85.34 per barrel, up 2.3% from $83.4. US military carried out attacks on two targets on Lark Island last night. At least two people, including civilians, were killed and two…

Navy Disrupts 2 Illegal Refining Sites in Rivers The Nigerian Navy has sustained efforts to disrupt illegal refining activities in Rivers with personnel of Nigerian Navy Ship (NNS) PATHFINDER identifying and deactivating two illegal refining sites. This is contained in an operational report by the Director of Naval Information, Capt. Abiodun Folorunsho on Sunday in Abuja. According to Folorunsho, the operation was conducted around the Ohaji axis of Egbema-Ndoni Local Government Area on Friday. “The operation resulted in the recovery of approximately 34,000 litres of products suspected to be illegally refined Automotive Gas Oil (AGO) contained in dugout pits, sacks…

CPPE Raises Concern Over 234% Surge in Petrol Imports The Centre for the Promotion of Private Enterprise (CPPE) has raised concern over a 234 per cent surge in Nigeria’s petrol imports from May to July in spite of growing domestic refining capacity. The centre raised the concern on Sunday in a policy brief signed by its Chief Executive Officer, Dr Muda Yusuf, on rising petroleum product imports and the future of domestic refining. CPPE said average daily Premium Motor Spirit (PMS) imports rose from 5.9 million litres in May to 18.1 million litres in June, representing a 206.8 per cent…

Tinubu Reports Xenophobic Attacks to AU President Bola Tinubu has formally reported recurring xenophobic and Afrophobic attacks against Africans and other nationals in South Africa to the African Union. Tinubu spoke through Vice President Kashim Shettima on Sunday at the 21st Extraordinary Session of the AU Assembly in Luanda, Angola. The President warned that the attacks undermine African solidarity, unity and peaceful coexistence, requiring urgent collective attention from continental leaders. “Nigeria wishes to express its concern over the recurring xenophobic and Afrophobic attacks against Africans and other nationals in South Africa,” Tinubu said. He called for stronger continental efforts against…

Young Innovators Shine at NCC Hackathon, Showcase Accessible Technology Solutions SORA emerged as the overall winner of the Fourth Edition of the Nigerian Communications Commission (NCC) Hackathon Live Show 2026, clinching the 3 million Naira grand prize, while Clear Signal and IKOR secured second and third places, receiving 2 million Naira and 1 million Naira respectively in a competition designed to develop innovative technology solutions for persons with disabilities and other underserved communities. The top three teams received cash prizes, while all participating teams received consolation prizes and certificates of participation for their contributions to advancing digital inclusion and accessible…

GCR Ratings has upgraded Tangerine Life Insurance Limited’s national scale financial strength

President Bola Tinubu has ordered a comprehensive forensic audit of the Integrated…

Seplat, FirstHoldco Boost Stock Market Cap, Investors Gain N1.38tn Buying interest in Seplat, FirstHoldco, GTCO, and some banking names boosted the Nigerian Exchange (NGX) indices on Friday, with the equities market capitalisation surging by more than N1.38 trillion. The Nigerian stock market closed the week on a bullish note as investors returned to take positions in fundamentally sound listed companies, driving key market performance indicators higher by 0.90%. The uptick was driven largely by gains in the Oil & Gas and Banking sectors; SEPLAT, GTCO, ZENITHBANK, and ACCESSCORP, among others, recorded positive price movements. The NGX All-Share Index added 2,142.38…

Global index provider FTSE Russell has reclassified Nigeria’s capital market from “Unclassified”

91.4% of Personal Pension Accounts Remain Unfunded – PenCom ​‌‍⁠‌‍⁠⁠‌‍​​‍‍​⁠⁠‌​ The Personal Pension Plan (PPP) recorded 219,316 registrations from inception to the first quarter of 2026, with only 18,811 accounts funded. This is according to the first quarter pension industry data released by the National Pension Commission (PenCom). The data showed that funded Retirement Savings Accounts (RSAs) accounted for 8.6 per cent of total PPP registrations, while 200,505 accounts, representing 91.4 per cent, remained unfunded. The figures highlighted the significant challenge facing the PPP, particularly the need to convert registrations into active accounts with sustained pension contributions. The data…