Author: Ogochukwu Ndubuisi

Oil Prices Rise Amidst Temporary Russia Crude Supply Oil prices edged higher on Friday after reports that Iran has begun laying mines in the Strait of Hormuz, raising concerns over shipping disruptions, though gains were capped by US measures aimed at stabilising global energy supplies. Brent traded at $99.39 per barrel, the US benchmark West Texas Intermediate (WTI) rose 0.6% to $95.81 per barrel, compared with $95.24 in the previous session. Iran began laying mines in the Strait of Hormuz using smaller boats after US forces destroyed larger Iranian vessels capable of quickly laying mines, according to media reports Thursday.…

PDP Counting Down to its Expiration — APC The Lagos State chapter of the All Progressives Congress (APC) says the Peoples Democratic Party (PDP) is steadily sliding into political irrelevance across Nigeria. The APC said the opposition party appeared to be counting down to its “expiration” due to persistent internal crises and lack of ideological direction. The party’s spokesman in Lagos, Seye Oladejo, made the remarks in a statement on Thursday. Oladejo said leadership crisis, internal divisions and absence of a coherent vision had weakened the PDP over the years. He said what once appeared as a dominant national platform…

NEPC Tasks Solid Mineral Sector on Export Competitiveness The Nigerian Export Promotion Council (NEPC) has tasked stakeholders in Plateau solid mineral sector to accelerate efforts in enhancing export of products. The council gave the charge on Thursday in Jos during a workshop on “Driving Solid Minerals Export Through Standards Documentation for Export Competitiveness” . The workshop is aimed at tackling the challenges of stakeholders in the sector, from the extraction processes to the export to international markets. Mrs Nonye Ayeni, The Executive Director/CEO of NEPC, who spoke on the importance of the training, stressed that there was need for stakeholders…

The naira strengthened across both exchange channels on Thursday, appreciating by 0.34% to N1,371.51/$ at the Nigerian foreign exchange market (NFEM) window.

Equities investors gained about N649 billion as the Nigerian Exchange (NGX) recovered from two days of sell pressure on Thursday.  The stock market performance indicators rose by 0.52%

Oil prices surged on Thursday, with Brent crude approaching $100 a barrel following reports of an attack on two oil tankers near Iraq’s Basra port, raising concerns about potential supply disruptions in the Middle East.

UN Relief Chief Slams ‘$1bn Daily’ Cost of War With Iran The UN emergency relief chief, Tom Fletcher, on Wednesday condemned the “one billion dollar-a-day” cost of the war in the Middle East. Fletcher said the cost of the war was unreasonable at a time when humanitarian needs are soaring and aid funding is falling dangerously short. “We’re seeing the consequences spread faster than we can respond”, the UN emergency relief chief warned, as violence reverberates across borders causing mass displacement and economic shocks. Speaking in Geneva, the UN’s top humanitarian aid official said, “this is a moment of grave…

2027: Wike-backed PDP Fixes May 25 for Presidential Primaries The Peoples Democratic Party (PDP), backed by Minister of the Federal Capital Territory, Nyesom Wike, has released its timetable for 2027 General Elections, fixing May 25 for the Presidential primary election. The party announced the development in a communique issued at the end of the 106th National Executive Committee (NEC) meeting, read by the National Publicity Secretary, Mr Jungudo Mohammed, in Abuja on Wednesday. The NEC fixed the submission of the membership register for April 10, State Assembly primaries for May 2, National Assembly primaries for May 9, and gubernatorial primaries…

Iranian President Demands Guarantees, Reparations to End War Iranian President Masoud Pezeshkian on Wednesday set out conditions for a possible end to the war, saying the only way to halt the fighting would be international guarantees ensuring a permanent end to all attacks. Writing on X, Pezeshkian also called for reparations and said Iran’s “legitimate rights” must be recognized. He did not specify which rights he meant but observers of Iranian domestic politics say he may have been referring to the appointment of a new supreme leader and the need for international recognition. Earlier this week, U.S. President Donald Trump…

Mystery Surrounds Whereabouts of Iran’s New Supreme Leader There has still been no word from the new supreme leader of Iran, Ayatollah Mojtaba Khamenei three days after his appointment. Government supporters and observers are eagerly awaiting the first speech by Khamenei amid the ongoing war, and are keen to see which political course he will take after his father was killed in an Israeli airstrike in Tehran on February 28. There is tense anticipation in the various power centres in Tehran. Sources within parliament said that no plans are known as to when or if the 56-year-old Khamenei will make…