Author: Ogooluwa Aremu
Ogooluwa Aremu is a business journalist at MarketForces Africa covering Nigeria's energy sector, macroeconomic policy, African continental affairs, cryptocurrency markets, and foreign exchange developments.His reporting spans Nigeria's oil and gas regulatory landscape, including coverage of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigeria International Energy Summit, and the downstream deregulation reforms reshaping Nigeria's petroleum sector. He also reports general market, Nigeria's fiscal reforms, World Bank and IMF engagements with Nigeria, and President Tinubu's economic policy initiatives.Ogooluwa covers Africa-wide developments through MarketForces Africa's Inside Africa desk, reporting on the African Union summits, continental economic policy, and cross-border developments affecting investment and trade across Sub-Saharan Africa.His cryptocurrency and forex market coverage tracks major digital assets, including Bitcoin, Ethereum, and Ripple, alongside. Nigeria's interbank FX market movements. He has covered major stories, including the African Union's 39th Ordinary Session in Addis Ababa, Nigeria's N6 trillion fuel import savings from deregulation, and the World Bank's assessment of Nigeria's economic reform programme. Ogooluwa Aremu is based in Lagos, Nigeria.
Oil Dispute: Court Dismisses Suit against Petroleum Minister, Others The Federal High Court in Abuja on Monday dismissed a suit filed against the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, challenging the proposed allocation of four oil fields. Justice Emeka Nwite, in a ruling on the preliminary objections filed by the defence, held that the suit was incompetent. Justice Nwite held that the plaintiffs, having failed to serve the defendants with a valid pre-action notice in compliance with Section 308 of the Petroleum Industry Act (PIA), 2021, robbed the court off the jurisdiction to hear the suit. He…
Efficiency Over Scale: NOVA Bank Redefines Customer-Centric Banking in Nigeria NOVA Commercial Bank has unveiled a bold strategic direction for Nigeria’s banking industry—one anchored not on size, but on efficiency, trust, and customer preference. Speaking at an exclusive media parley in Lagos at the weekend, the Bank’s Chairman, Phillips Oduoza, alongside Managing Director/Chief Executive Officer, Jude Anele, articulated a clear vision centered on superior customer experience, relationship-driven banking, and robust corporate governance. The engagement also formally signaled the successful completion of the Bank’s transition from a merchant bank to a full-service commercial institution, underpinned by strong recapitalization. “Our ambition has…
The money market rates closed on a mixed note, as deposit money banks’ placements at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF) window were offset by some operators borrowing.
The MTN Nigeria Communications Plc has temporarily suspended its airtime and data lending service, “Xtratime”, following new regulations introduced by the Federal Competition and Consumer Protection Commission (FCCPC).
Ecobank Nigeria, a subsidiary of the leading Pan-African financial services group, Ecobank Group, has announced the fifth edition of the Adire Lagos Experience, its flagship cultural and creative industry showcase.
Nobody deserves to be jobless in Nigeria, where the cost of living is already killing the living. Personal leverage can eliminate joblessness for anyone who understands business, especially for those with near-inelastic demand – simply put, services people require daily.
Oil Prices Decline on Trump Remarks on U.S.-Iran War Oil prices eased on Wednesday as negotiations between the US and Iran helped ease supply concerns among market participants, following President Donald Trump’s remarks that the conflict appears “close to over” and that US-Iran talks could resume in Pakistan within two days. International benchmark Brent crude futures traded at $94.77 per barrel, down around 0.02% from the previous close of $94.79. US benchmark West Texas Intermediate (WTI) fell about 0.3% to $91.01 per barrel, compared with $91.28 in the previous session. Trump said the US-Israeli war with Iran is “close to…
The International Monetary Fund (IMF) expects global economic growth to be slightly weaker than previously forecast, warning that rising geopolitical tensions and energy disruptions are weighing on activity.
The Nigerian local currency, the naira, gained against the US dollar at the official foreign exchange market amid a surge in FX liquidity.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called for immediate reinstatement of petrol import licences to encourage multiple supply sources, deepen competition and stabilise pump prices.