Category : Search result: global oil prices

Naira Dips 0.98% to N1,456.72/$ Amid Economic Pressure

Naira weakens to N1,456.72/$ as economy faces pressure

Naira depreciates by 0.98% to N1,456.72/$ amid dollar demand and structural challenges. Nigeria's foreign reserves rise to $44.12 billion despite oil price decline. Learn more about the economic outlook.

Rice Prices Crash by 40% in Nigerian Markets as Supply Surges

Rice Prices Drop 40% in Nigerian Markets

Nigerian consumers rejoice as rice prices plummet from N95,000 to N55,000 per bag due to increased local production and imports. Traders face losses while experts warn the relief may be temporary.

Memory Chip Shortage to Drive Up Smartphone Prices in 2026

Memory Chip Crunch to Increase Gadget Prices

Shoppers face higher prices for phones and laptops as AI data centers consume memory chips. Experts warn of significant price increases through 2026. Learn how this affects Nigerian consumers.

US MOSOP Urges Exclusion of Ogoni Oil Blocks from Bidding Rounds

US MOSOP: Exclude Ogoni from oil block bids

MOSOP USA calls for Ogoni oil blocks removal from bidding rounds to protect fragile peace process. Federal Government urged to prioritize reconciliation before oil resumption.

Reps Panel Vows to Stop Billions Lost in Oil Export Revenue Leaks

Reps Panel Vows to End Oil Revenue Leakages

House of Representatives committee pledges to halt massive revenue losses in Nigeria's oil and non-oil export sectors, aiming to recover billions lost annually through systemic leakages.

Africa Gets Just 2.3% of $2.4trn Global Renewable Energy Investment

Africa Receives Only 2.3% of $2.4trn Clean Energy Funds

Global renewable investment hits $2.4 trillion but sub-Saharan Africa gets only $18 billion, raising concerns about energy transition inequality. Nigeria and oil-dependent economies face urgent need to adapt.

Nigeria Signs MoU with UAE Digital School to Boost Youth Skills

Nigeria-UAE Digital Education Partnership Signed

Nigeria partners with UAE Digital School to expand digital learning for millions of young Nigerians. The agreement signed in Dubai aims to equip youth with vital skills for the global digital economy.

Emadeb E&P Achieves First Oil Production from Ibom Field

Emadeb Records First Oil Production from Ibom Field

Emadeb Exploration and Production Company Limited has commenced commercial oil production from Ibom Field PPL 236, marking a significant milestone for Nigeria's upstream oil sector and indigenous operators.

Global Stocks Wobble as Fed Rate Cut Doubts, Tech Fears Mount

Stocks Struggle on US Rates, Tech Rally Fears

Global markets faced pressure as doubts over US Fed rate cuts and tech bubble fears grew. Oil prices rallied on Russian output risks. Get the full analysis for Nigerian investors.

Asian Markets Sink on Fed Rate Fears and Tech Bubble Concerns

Asian Markets Fall on Fed Rate, Tech Worries

Asian markets declined, mirroring Wall Street's selloff amid uncertainty over the Federal Reserve's December rate decision and growing speculation of a tech bubble.

FG Suspends 15% Import Tax on Petrol and Diesel

Nigeria suspends 15% import tax on fuel

Federal government suspends 15% import duty on petrol and diesel through NMDPRA. Move aims to prevent price hikes and ensure adequate supply during peak demand period.

Nigeria Loses $15bn Yearly to Oil Theft, Threatening Reforms

Nigeria loses $15bn annually to oil theft

Experts reveal Nigeria loses $15 billion yearly to oil theft, undermining Tinubu's reforms and economic growth. Urgent action is needed to secure the nation's energy future.

Lagos Slashes Food Prices by 25% for Christmas Relief

Lagos Cuts Food Prices 25% for Christmas

Lagos State introduces 25% subsidy on rice, beans, garri and other essentials ahead of Christmas. Governor Sanwo-Olu's initiative aims to ease cost of living during festive season.

NUPRC Announces 2025 Oil Licensing Round to Boost Nigeria's Production

Nigeria Sets December 1 for 2025 Oil Licensing Round

NUPRC confirms 2025 oil licensing round starting December 1, aiming to boost Nigeria's crude production and create new investment opportunities. Learn how this could transform Nigeria's energy sector.

Cooking Gas Prices Drop by Over N900 per Kg, Marketers Promise More

Cooking Gas Prices Drop by Over N900 per Kg

Nigerians celebrate as cooking gas prices drop significantly, with marketers promising further reductions ahead of festive season. Major suppliers including NNPCL slash prices.

Cooking Gas Prices Hit N2,000 per kg in Major Nigerian Cities

Cooking Gas Prices Surge Above N1,100 Nationwide

Nigerians face painful cooking gas price hikes as costs reach N2,000 per kg in Abuja, Lagos, and other cities. Marketers blame supply disruptions and logistics challenges for the crisis.

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