As global crude oil prices surge above $100 per barrel following the blockade of the Strait of Hormuz, Nigerian households and businesses are bracing for a prolonged period of economic pain. The Strait of Hormuz, a critical maritime route through which about 20 per cent of the world’s oil and gas supply passes daily, has …
Nigeria is currently ranked among countries with relatively low petrol prices globally. According to GlobalPetrolPrices.com, the average price of petrol, also known as gasoline, around the world as of April 13, 2026, is $USD1.50 per litre. Data published by the oil and gas analytical firm indicates that Nigeria is currently ranked 23rd ($0.90 per litre) …
The failure of the United States and Iran to secure a deal during their peace talks over the weekend in Islamabad, Pakistan, has reignited tensions in the Middle East and sent shockwaves through the global energy market, raising fears of a further fuel price surge in developing nations like Nigeria. The high-level talks in Islamabad, …
As conflict in the Middle East enters the second month, there are concerns about the ripple effects on developing economies that depend on imported energy, fertilisers and staple food commodities. For Nigeria, a country already grappling with inflation, currency volatility, and structural inefficiencies, the stakes are particularly high. Rising Costs at the Markets At the …
While preparing dinner on Friday evening, Madam Juliana Umeh, a mother of three who resides in the Ilasa area of Lagos, suddenly noticed the flame from her blue 12.5kg cylinder gradually dropped and finally stopped. The gas finished in the middle of the cooking. Left with no other option, Mrs Umeh approached a nearby gas …
President Bola Tinubu’s recent approval of a ₦3.3 trillion debt settlement plan has been touted as a significant move towards fixing the liquidity crunch that has choked the Nigerian power sector for years. However, the announcement has generated mixed reactions regarding its significance in the efforts towards ending the persistent blackouts that Nigerians have grappled …
Easter, the most sacred celebration in the Christian calendar, a season of renewal, resurrection, and hope, was marked this year in Nigeria under a cloud of fear. By the time it ended, that fear had transformed into grief. While the federal government spent the holiday touting “Renewed Hope” and ₦3.3 trillion in power sector interventions, rural …
For months now, electricity consumers classified under Band A —those promised a minimum of 20 hours of daily power supply—have continued to grapple with a frustrating reality of persistent power outages. In a country where darkness has long shaped daily life, the promise of a steady electricity should feel like relief. However, for many Nigerians, …
Nigeria’s aviation sector is grappling with a fresh wave of uncertainty as a sharp increase in jet fuel prices forces domestic airlines into a difficult situation. Industry analysts observe that while the cost of aviation fuel (Jet A1) has skyrocketed by over 100 per cent in recent times, domestic airlines are struggling to raise ticket …
As anticipation builds across continents and football fever intensifies, the world counts down to the most expansive edition of the global game’s biggest stage—the 2026 FIFA World Cup. The tournament runs from June 11 to July 19, 2026, and will be jointly hosted by the United States, Canada, and Mexico, marking a historic first for …
