Nigeria could stand to gain from the sharp surge in global oil prices triggered by escalating conflict involving Israel, the United States and Iran, according to senior market analyst Matthew Anthony. Oil prices spiked to just above $120 over the weekend as the conflict intensified and key energy installations were targeted, tightening supply and pushing …
Rising global crude oil prices triggered by the escalating U.S.–Iran war are putting renewed pressure on domestic fuel prices in Nigeria, raising concerns about inflation and the cost of living across the country. Global oil benchmark has surged past the $100 per barrel mark for the first time in years as conflict in the Middle …
The Nigerian National Assembly has experienced a legislative discrepancy, as the Senate and the House of Representatives approved different crude oil price benchmarks for the 2026–2028 Medium Term Expenditure Framework (MTEF). While both chambers agree on many macroeconomic targets, the disagreement over oil prices, which is the major source of Nigeria's foreign exchange earnings, highlights …
The Nigerian House of Representatives has suspended discussion on the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The decision to step down the documents was taken on Wednesday following a heated debate over how crude oil price benchmarks and revenue projections were calculated. The debate ensued in plenary immediately after James Faleke, …
Dangote Petroleum Refinery and major oil marketers have set new lower prices for Premium Motor Spirit (PMS), commonly known as petrol, amid rising competition in the downstream market. Pinnacle Daily’s checks showed a slight drop in petrol prices at various depots by major importers and the Dangote Refinery. The price adjustment comes after a drop …
Nigeria’s headline inflation is expected to drop to 15.48 per cent in November but to spike over 30 per cent in December. United Capital Research forecasts this in its ‘Inflation Watch’ report released on Wednesday, November 3. The anticipated moderation will be driven by a slight reduction in the prices of selected food items and …
