Global crude oil prices have continued to decline, with Brent, the international benchmark, briefly selling at $70 before rising slightly to $71.57 per barrel on Wednesday, July 2, 2026. The U.S. West Texas Intermediate (WTI) fell to $68.44 per barrel, according to Oilprice.com. This is considered the lowest level in months. The primary driver …
A federal government delegation has visited the Bille community in the Degema Local Government Area of Rivers State following a gas seepage incident, delivering immediate humanitarian aid and promising a comprehensive technical solution to the environmental crisis. The delegation, led by the Minister of State for Petroleum Resources (Gas), Senator Ekperikpe Ekpo, and the Commission …
The Transmission Company of Nigeria (TCN) has restored power supply to parts of Lagos following a major outage caused by severe flooding that submerged critical equipment at two key transmission substations. The company had declared force majeure on Oworoshoki 132/33kV and Lekki 330/132kV Transmission Substations after persistent rainfall triggered widespread blackouts in several communities served by the …
Lagos residents have continued to count losses as heavy rain caused flash floods that submerged homes and roads and disrupted businesses in different parts of the state.
The Nigerian government has evacuated the third batch of Nigerians stranded in South Africa following the ongoing xenophobic attacks on African nationals. 269 Nigerians arrived at the Murtala Muhammed International Airport, Lagos, on Tuesday, June 30, in an evacuation flight operated by Air Peace airline from Johannesburg. According to a statement by the Ministry …
The easing of crude oil prices in the international market has raised expectations of a significant drop in petrol pump prices across retail stations in Nigeria; however, consumers groan over what they consider a “token” adjustment in prices by marketers. Crude oil had surged to a peak of $120 per barrel following geopolitical tensions in …
The Dangote Refinery has expanded its crude sourcing to include cargoes from the United Arab Emirates (UAE), marking a notable shift in its supply chain strategy. According to a report by S&P Global Commodity Insights, the $20 billion refinery recently imported two cargoes of crude oil from the UAE, marking its first-ever procurement of Middle …
Across major Nigerian cities, angry tenants cry foul as landlords and caretakers cash in on the crumbling economy Desperate Tenants Crowdfund and Share Rooms to Survive Rent Hikes While Nigerians battle the high cost of fuel, food, transportation and healthcare, the rising cost of house rents has added a fresh layer to the country's …
President Bola Ahmed Tinubu on Friday, June 26, assented to the National Identity Management Commission (NIMC) Act 2026. The signing took place at the State House, Abuja, in the presence of the Senate President, Godswill Akpabio, the Deputy Speaker of the House of Representatives, Benjamin Kalu, and the House Leader, Julius Ihonvbere. Others who witnessed …
Despite fresh budgetary allocations, intervention funds, debt repayments, and financial support aimed at reviving Nigeria's electricity industry, millions of Nigerians continue to grapple with poor power supply. As the government injects more resources into the sector, stakeholders have continued to express concerns over the impact. Over the past year, Nigeria's power sector has witnessed one …
