Refinery Lowers Petrol Gantry Price The Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,275 to N1,250 per litre. The latest adjustment represents a two per cent reduction and comes as competition continues to increase in Nigeria’s deregulated downstream petroleum sector. Furthermore, market checks confirmed…
Global Agencies Raise Fresh Concerns The International Monetary Fund, World Bank and International Energy Agency have warned of possible fuel shortages this summer. The agencies issued the warning in a joint statement. They said disruptions in the Strait of Hormuz continue to threaten global energy supplies. According to them, shipping traffic must return to normal…
Massive Fireball Erupts at Launch Pad Blue Origin suffered a major setback after its New Glenn rocket exploded during a test in Florida on Friday. The explosion triggered a huge fireball and a thick cloud of smoke above the launch site in Cape Canaveral. Videos from the scene captured shocked reactions from onlookers watching the…
Electricity Supply Declines Nationwide Electricity generation in Nigeria dropped sharply on Friday, raising fresh concerns over the country’s unstable power supply. Data obtained from the Nigerian Independent System Operator showed that generation fell to 3,527.76 megawatts. The figure represents a decline of 877.28MW from the 4,405.04MW recorded the previous day. Consequently, businesses and households may…
Fidelity Bank Posts Strong Q1 Performance Fidelity Bank Plc recorded a strong financial performance in the first quarter of 2026, with gross earnings rising by 37.9 per cent to N434.95bn. The bank disclosed this in its interim report for the three months ended March 31, 2026, released on the Nigerian Exchange. Gross earnings increased from…
WMO Predicts Continued Rise in Global Heat The World Meteorological Organization has warned that global temperatures will likely remain at or near record levels over the next five years. The agency released the warning on Thursday as parts of western Europe experienced extreme heat conditions. According to the report, the world could witness a new…
Corporate Tax Payments Rise by 10.6% No fewer than 89 companies listed on the Nigerian Exchange paid a combined N579.78bn as company income tax in the first quarter of 2026. The figure represents a 10.60 per cent increase from the N524.23bn recorded in the same period of 2025. An analysis of unaudited financial statements showed…
Middle East Conflict Pushes Food Costs Higher Global food prices rose by five per cent within two months after the near-total closure of the Strait of Hormuz, according to a new World Bank analysis. The disruption followed the outbreak of conflict in the Middle East in late February 2026. As a result, global food prices…
Fintech Launches Faster Digital Conversion Platform Monica Cash, a Nigerian fintech platform focused on digital asset solutions, has expanded its operations in Nigeria’s crypto market. It introduced an automated crypto-to-fiat conversion service to improve Bitcoin-to-Naira transactions. Meanwhile, the company said the new system delivers faster, safer, and more reliable exchanges. It also aims to reduce…
NNPC Opposes Dangote’s Legal Action The Nigerian National Petroleum Company Limited has asked the Federal High Court in Lagos to dismiss a suit filed by Dangote Petroleum Refinery. NNPC argued that granting the refinery’s requests could create monopoly control in Nigeria’s downstream petroleum sector. The company stated this in a counter-affidavit filed before the Federal…
