Global oil prices spiked sharply as tensions around the Strait of Hormuz raised fears of supply disruption. Brent crude rose to $118.2 per barrel, while WTI climbed to $102.5, creating a wide gap between the two benchmarks. The surge followed remarks by Donald Trump, who urged countries facing jet fuel shortages due to the disruption …
Ongoing tensions in the Strait of Hormuz are disrupting global energy and fertilizer flows. Shipping through the key waterway has dropped the by over 95 per cent. This sharp decline is affecting oil, gas, and fertilizer movement worldwide. Energy prices have surged across regions due to the disruptions. Higher oil and gas costs are pushing …
The Naira remained stable against the United States Dollar on March 31, 2026, closing the first quarter on a steady note despite pressures on Nigeria’s external reserves. At the Nigerian Foreign Exchange Market, the Naira opened at ₦1,385.60 per Dollar and strengthened slightly to ₦1,383.37 by mid-morning. The movement reflects modest gains as the currency …
The Nigerian Education Loan Fund (NELFUND) has debunked viral claims that it has increased the monthly upkeep allowance for students from ₦20,000 to ₦25,000. In a statement signed by its Director of Strategic Communication, Mrs. Oseyemi Oluwatuyi, NELFUND dismissed the claim as false, reiterating that the monthly stipend remains ₦20,000 and urged students to rely …
Nigeria has taken a major step in modernising its trade ecosystem, as global logistics firm DHL, alongside key regulatory agencies, successfully commenced the electronic submission and transmission of cargo manifests through the National Single Window. The rollout, involving the Standards Organisation of Nigeria (SON), Nigeria Agricultural Quarantine Service (NAQS), and National Environmental Standards and Regulations …
The Federal Government has advanced Nigeria’s next-generation satellite programme into the execution stage, with NIGCOMSAT-2A and NIGCOMSAT-2B slated for launch in 2028 and 2029 to strengthen connectivity, national security and digital economic growth. Managing Director of NIGCOMSAT Limited, Mrs Jane Nkechi Egerton-Idehen, disclosed this during the opening of the Satellite Week 2026 in Abuja. She …
The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing individual annual tax returns to April 14, 2026, giving taxpayers in Lagos an additional two weeks beyond the initial April 1 deadline. The agency said the extension is aimed at allowing taxpayers sufficient time to properly complete and submit their returns, while …
Stricter asylum laws and expanded government powers signal a tougher pathway for migrants For thousands of Nigerians seeking better opportunities abroad, Canada has long stood out as a preferred destination. However, that pathway is becoming increasingly difficult following sweeping changes to the country’s immigration and asylum system. The reforms, introduced by Immigration, Refugees and Citizenship …
A deadly attack on Angwan Rukuba community in Jos North Local Government Area of Plateau State has sparked controversy over the number of casualties, with police and community leaders presenting conflicting figures. The Plateau State Police Command confirmed that 14 persons were killed in the attack, which occurred at about 8:30 p.m. on March 29, …
As compliance remains low, confusion persists over tax filing obligations under the Nigeria Tax Act 2025* With the March 31 deadline only hours away, many Nigerians are still struggling to understand how to properly file their tax returns, exposing a wider gap in awareness and compliance across the country. Despite repeated warnings from the government, …
