Global Market Watches Key Developments A major drop in oil prices may happen if the United States and Iran reach a final agreement to reopen the Strait of Hormuz. The development could ease pressure on global crude supply and reduce fuel prices. As of Sunday, Brent crude hovered between $103 and $105 amid growing optimism…
Deal Advances Nigeria’s Gas Industrialisation Plan Tetracore GTL Limited has signed a Memorandum of Understanding with Velocys Technologies Limited of the United Kingdom. The agreement supports a modular gas-to-liquids plant planned for Atakabo in Ogun State. The company said the project aligns with its gas monetisation and industrialisation strategy. It also positions natural gas as…
Revival Ends Long Disruption at Key Abia Facility The Niger Delta Power Holding Company has restored operations at the 450-megawatt Alaoji Open Cycle Power Plant in Abia State after a 36-month shutdown. Gas supply disruptions, metering disputes, and unpaid obligations had forced the facility offline. NDPHC Managing Director and Chief Executive Officer, Jennifer Adighije, disclosed…
FX Stability, Energy Costs Key to Future Price Reduction BUA Cement Plc has said cement prices in Nigeria will decline when production and logistics costs reduce, stressing that rising costs, not excessive profit, remain the major driver of current market prices. Speaking at the company’s 10th Annual General Meeting in Abuja on Thursday, Chairman of…
Ben Murray-Bruce announces leadership transition Founder of Silverbird Group, Ben Murray-Bruce, has announced the appointment of Mr Roy Murray-Bruce as the new Chairman of the conglomerate. Roy succeeds Ben Murray-Bruce after decades of leadership at the organisation. Ben made the announcement through his official X handle on Thursday. The move marks a major leadership transition…
Traders push for stronger Nigeria-China trade relations The Made-in-China Goods Traders Association of Nigeria has appealed to the Chinese government for visa support and wider trade opportunities. The group said stronger cooperation would improve business relations between Nigeria and China. It made the appeal during a courtesy visit to the Chinese Consulate General in Lagos….
Brent and WTI prices decline Brent crude dropped to $105 per barrel on Wednesday as peace talks aimed at reducing tensions in the Middle East lifted market sentiment. Data from Oilprice.com showed Brent fell by $6 from $111 recorded on Tuesday. At the same time, West Texas Intermediate also declined to $98 per barrel from…
FG shifts focus from AfCFTA talks to implementation The Federal Government has declared that the African Continental Free Trade Area has moved beyond negotiations into a critical implementation stage. Minister of Industry, Trade and Investment, Jumoke Oduwole, made the call during discussions at the Biashara Africa 2026 forum. She urged Nigerian entrepreneurs, startups, and digital…
Dangote confirms September IPO launch President and Chief Executive of Dangote Group, Aliko Dangote, has announced that the planned Initial Public Offering of the Dangote Refinery will launch in September. He made the disclosure on Wednesday while speaking with journalists after leading Chairman Femi Otedola and top executives of First HoldCo and its subsidiaries on…
CBN keeps interest rate unchanged The Monetary Policy Committee of the Central Bank of Nigeria has retained the benchmark interest rate at 26.5 percent. CBN Governor Olayemi Cardoso announced the decision on Wednesday after the committee’s 305th meeting in Abuja. He confirmed that members agreed to maintain the Monetary Policy Rate at its current level….
