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Crude oil barrels and oil market charts representing rising global prices and possible effects on fuel costs in Nigeria

Oil Surges Above $111 as Middle East Tensions Escalate. Could Nigerians Pay More?

Business, World /

Global oil prices climbed sharply on Thursday, 22 October, as renewed attacks in Saudi Arabia and maritime incidents around the Persian Gulf raised concerns about further disruption to crude supplies. Brent crude rose to $111.64 per barrel in early trading, while United States West Texas Intermediate reached $99.39. The increases reflected fears that a wider

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Dangote Refinery infrastructure representing its reported $4.73 billion profit and questions about benefits for Nigerians

Dangote Refinery Reports $4.73 Billion Profit. Will Nigerians Benefit?

Business, Nigeria /

Dangote Petroleum Refinery has reported a major financial turnaround, recording a net profit of $4.73 billion for the first nine months of 2026, compared with a loss of $117.2 million during the same period in 2025. Its reported revenue more than doubled to $22.48 billion. The results come as the refinery prepares for a major

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LNG export terminal and gas infrastructure illustrating Qatar’s supply crisis and Nigeria’s gas ambitions

Qatar’s LNG Crisis Is a Warning for Nigeria’s Gas Ambitions

Business, World /

The disruption of Qatar’s liquefied natural gas industry is a reminder that energy security depends not only on underground reserves but also on functioning infrastructure, safe shipping routes and the ability to deliver supplies reliably. Fresh industry analysis published on October 12 indicates that Qatar’s LNG exports remain severely restricted amid the conflict involving Iran

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Nord Stream gas pipelines and European energy infrastructure amid US-Russia talks

United States and Russia Explore Possible Nord Stream Gas Deal

Business, World /

Senior United States and Russian officials have discussed the possibility of involving United States investors in the Nord Stream gas pipeline projects, raising the prospect of renewed energy cooperation between Washington and Moscow. The pipelines previously carried Russian natural gas to Germany before the war in Ukraine transformed Europe’s energy relationship with Russia. Any attempt

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Abakaliki Cement Factory project in Nkalagu, Ebonyi State

Abakaliki Cement Factory: From Announcement to Accountability

Business, Economy, Nigeria /

Work has reportedly commenced on the proposed Abakaliki Cement Factory in Ebonyi State, with Governor Francis Ogbonna Nwifuru announcing the development as part of the state’s industrialisation drive. The project is being presented as an opportunity to strengthen local industry, create jobs and expand the state’s economic base. But this is where the public-interest questions

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Uber Leaves Nigeria

UBER’S EXIT FROM NIGERIA RAISES BIGGER QUESTIONS ABOUT THE BUSINESS ENVIRONMENT

Business, Nigeria /

Uber has ended its ride-hailing operations in Nigeria after 12 years, bringing renewed attention to the challenges facing businesses operating in the Nigerian market. The company’s departure is significant because Nigeria has one of Africa’s largest consumer markets and remains an important destination for businesses seeking opportunities on the continent. However, companies operating in Nigeria

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Nigeria

Nigerians Spent ₦11.3 Trillion on Petrol in Seven Months — What Does It Mean?

Business, Nigeria /

Nigerians spent an estimated ₦11.3 trillion on petrol between January and July 2026, even as the amount of petrol being consumed continued to fall. The figures reveal one of the clearest contradictions in Nigeria’s current energy situation: Nigerians are buying less petrol, but they are still spending enormous amounts of money on it. Petrol consumption

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Nigeria’s Dangote Refinery Is Changing Africa’s Oil Industry

Business, Nigeria /

The Dangote Petroleum Refinery in Lagos is increasingly transforming Nigeria’s position in the global oil market and changing how petroleum products are supplied across Africa. For many years, Nigeria exported crude oil and later imported refined fuel from foreign countries. This situation placed enormous pressure on the country’s economy and foreign exchange reserves. However, the

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