middle east crisis

The Digest: Finance Minister Wale Edun has said Nigeria's economy is in shock due to the Middle East crisis, with petrol prices rising over 50% from N890-N900 to N1,260-N1,330. Diesel prices surged over 70% to about N1,550 per litre at peak. Edun spoke ahead of the IMF/World Bank Spring...

The Digest: The price of Brent crude oil rose by 3.37 percent to $100.54 per barrel on Thursday, as investors weighed concerns over prolonged conflict in the Middle East and potential supply disruptions. The increase follows a plunge to $96 earlier in the week after President Donald Trump...

The Digest: President Bola Tinubu has declared that his sustained foreign trips are yielding results, revealing that Nigeria has secured security equipment and support commitments from the United Kingdom and France. Speaking to state governors in Lagos on Sunday, Tinubu said his recent visit to...

The Digest: Aliko Dangote has warned that the ongoing Middle East crisis could force Nigeria and other African countries to adopt COVID-era work-from-home restrictions if the conflict does not de-escalate. Speaking after meeting President Bola Tinubu in Lagos, the industrialist expressed...

The Digest: Oil prices plunged to $96 per barrel on Monday after President Donald Trump announced a five-day postponement of military strikes against Iranian power plants and energy infrastructure. Brent crude dropped by 9.47 percent to $96.33, while US West Texas Intermediate fell by 8.99...

The Digest: Aviation fuel prices have surged from N900–N995 to between N2,500 and N2,700 per litre, driven by the Middle East crisis that has pushed crude oil prices to about $112 per barrel. The spike has placed immense pressure on domestic airlines, with jet fuel now accounting for up to 45%...

Image Credit: Engin Arkyut The Digest: The pump price of petrol has surged to nearly N1,400 per litre across Nigeria, driven by rising crude oil prices amid the escalating Middle East crisis. Crude oil hit almost $120 per barrel last week before settling at $112 over the weekend, prompting...

The Digest: President Bola Tinubu has warned that the escalating Middle East crisis, involving the US, Israel, and Iran, could push up inflation and erode Nigerians' purchasing power. Speaking at his Lagos home on Sunday while hosting Vice-President Kashim Shettima and 23 governors for Eid...

The Digest: The Dangote Petroleum Refinery and oil marketers are locked in a pricing dispute amid escalating Middle East tensions, with data showing imported petrol is about N64 cheaper per litre than Dangote's product. MEMAN data indicates Dangote's gantry price stands at N874, while imported...