Gold prices remained largely steady as investors closely monitored the fragile ceasefire between the United States and Iran, with markets showing caution despite easing geopolitical tensions. Spot gold hovered around the $4,700 level, with only slight movements as traders assessed whether the truce would hold. The recent two-week ceasefire agreement helped calm global markets after…
Nigeria’s oil production has recorded a major recovery, hitting a peak of 1.84 million barrels per day (bpd), according to the Nigerian National Petroleum Company Limited (NNPC). The development marks a significant turnaround from the country’s output low of about 960,000 bpd in 2022. Speaking at a parliamentary roundtable in Abuja, NNPC Group Chief Executive…
Global oil markets saw a dramatic (drop) after Donald Trump announced a two-week ceasefire agreement with Iran, easing tensions around the critical Strait of Hormuz. Oil prices crashed sharply, with benchmarks falling toward $92 per barrel following the announcement. The ceasefire includes a temporary reopening of the Strait of Hormuz—a key global oil route responsible…
Governor Lucky Orimisan Aiyedatiwa has unveiled plans to transform the Araromi beach resort into a major tourism hub, signaling a new push to unlock Ondo State’s coastal economic potential. Araromi Beach Set for Major Upgrade The project, announced during the Araromi seaside carnival in Ilaje Local Government Area, will see the development of a state-owned…
Peter Obi, the 2023 presidential candidate of the Labour Party, has questioned President Bola Tinubu’s recent approval of N3.3 trillion to settle debts in the power sector, calling for transparency and measurable results. Obi made the call in a post on X on Tuesday, where he expressed concern over what he described as repeated financial…
President Bola Ahmed Tinubu has commissioned key infrastructure projects in Ogun State, marking what officials describe as a major step toward Nigeria’s shift to investment-driven economic growth. Gateway Airport Takes Centre Stage At the heart of the commissioning is the Gateway International Agro-Cargo Airport, a flagship project expected to transform logistics and boost exports. The…
Power generation companies in Nigeria have raised fresh concerns over the Federal Government’s ₦3.3 trillion electricity sector debt, asking President Bola Ahmed Tinubu to clarify how the figure was calculated. Industry Questions Debt Calculation The concerns were voiced by operators under the Association of Power Generation Companies (GenCos), who say the reported debt figure does…
Africa is taking a bold step toward seamless travel as Ghana prepares to grant visa-free access to all African passport holders, joining a growing list of countries opening their borders across the continent. Ghana Joins Visa for free Movement The policy, set to take effect on May 25, 2026, aligns with Africa Day celebrations and…
The United Nations Economic Commission for Africa UNECA has called on African governments to increase borrowing and strengthen domestic revenue to fund critical artificial intelligence (AI) infrastructure, warning that the continent risks falling behind in the global digital race. Africa’s AI Gap Raises Urgency According to UNECA, Africa currently accounts for less than 1% of…
Nigeria’s financial inclusion drive has recorded another milestone as the country’s Bank Verification Number (BVN) database climbed to 68.6 million in March 2026, reflecting a steady rise in the number of Nigerians linking their bank accounts. Growth Driven by Digital Banking Push The latest figures, released by the Nigeria Inter-Bank Settlement System, show continued expansion…
