President Bola Tinubu, on Thursday, presided over a meeting that led to the resolution of a dispute between the Nigerian government, multinational oil giant ENI, and the Nigerian Agip Exploration Limited (NAEL) on the Prospecting Licence (OPL) 245. The resolution was sealed with a historic settlement agreement between the Federal Government, ENI, and Agip. According …
The Nigerian Electricity Regulatory Commission (NERC) has issued a fresh order directing Electricity Distribution Companies (DisCos) to refund a total of ₦20.33 billion to customers who paid for meters under the Meter Asset Provider (MAP) scheme. This directive is outlined in Order No. NERC/2026/025, signed on February 27, 2026, by NERC Chairman Musiliu Oseni and Commissioner Dafe …
President Bola Tinubu has ordered temporal suspension of the new cashless policy introduced by the Federal Airport Authority of Nigeria (FAAN) at access gates of airports across the country. Minister of Aviation and Aerospace Development, Festus Keyamo, said President Tinubu gave the directive during the Federal Executive Council meeting on Wednesday, March 4. In a …
The implementation of a new cashless policy by the Federal Airports Authority of Nigeria (FAAN) has led to significant traffic congestion at access gates of Lagos and Abuja airports in the last three days. Starting March 1, 2026, FAAN prohibited cash payments at all access gates, car parks, and executive lounges. While the policy aims …
The recent escalation of conflict in the Middle East, involving US-led strikes on Iran and subsequent retaliation, has caused a notable surge in crude oil prices in the global energy markets. The surge in crude oil prices in the international market has caused a hike in the prices of Premium Motor Spirit (PMS), also known …
Global aviation has been plunged into chaos as the war between the United States, Israel, and Iran continues, forcing widespread airspace closures, flight cancellations, and massive economic losses. Major Gulf hubs and airspaces across the Middle East remain shut or heavily restricted following a series of U.S. and Israeli strikes on Iran and Iran’s retaliatory …
The global oil market was rattled on Monday, March 2, as crude prices surged toward $80 per barrel, driven by escalating tensions across the Middle East and fears of broader supply disruptions. According to data published by OilPrice.com, Brent Crude rose sharply on Monday, reaching $79.85 per barrel. The U.S. counterpart, West Texas Intermediate (WTI), …
The Federal Airports Authority of Nigeria (FAAN) has announced that the ongoing closure of airspaces in parts of the Middle East over the tension arising from attacks on Iran by the U.S. and Israel, has affected flights to and from the region. In a travel advisory issued on Sunday, FAAN said that following the developments, …
For decades, the national grid has been the only affordable path to power for the average Nigerian, but it remains unreliable. Experts have pointed out that the power crisis has constrained growth, frustrated households, and inflated business costs. In the absence of a stable electricity supply, people have often resorted to expensive petrol and diesel-powered …
Fresh concerns have emerged following a new increase in the retail price of cooking gas, adding further strain on households already grappling with high living costs. Latest report released by the National Bureau of Statistics (NBS) show that the average price for refilling a 5kg cylinder of Liquefied Petroleum Gas (LPG), commonly known as cooking …
