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Navigating the Undulating Terrain of Nigeria's Oil Market Last week marked a significant shift in global oil prices, as crude oil saw its value tumble to depths not seen since 2021. Was it former President Trump's imposing import tariffs that sparked this? Perhaps it was the unexpected increase in oil supply by OPEC+ that sent ripples through the market, slicing a hefty $10 from global benchmarks per barrel. And suddenly, by Friday, the crude oil prices had plummeted to $65 a barrel. For many, this…

In the unpredictable realm of cryptocurrency, particularly in the case of Bitcoin, its market behavior serves as a curious study of human psychology and economic dynamics in the digital age. While traditional fiat currencies dance in rhythm to the tunes of unemployment rates, inflation fluctuations, and gross domestic product growth, Bitcoin follows its own script. Yet, is it entirely detached from these macroeconomic factors? As 2024 unfolded, investors observed how various economic indicators subtly influenced…

In a significant pivot, Dangote Refinery has announced a temporary halt to the sale of petroleum products in Naira. This decision appears to be a strategic move to sidestep the complexities arising from a disparity between revenues generated in Naira and the obligations tied to dollar-denominated purchases of crude oil, as reported by Premium Times. Without a doubt, this shift means that oil marketers will now be compelled to transact in dollars for crucial commodities, such as petrol and diesel. The implications are…

Industry Update: Dangote Refinery's Crude Strategy In a significant development that reflects the turning tides in Nigeria's oil industry, the Nigerian National Petroleum Company (NNPC) Limited has chosen to pause its Naira-for-Crude agreement with local refineries. This arrangement, initially designed to empower local refineries to purchase crude in Nigeria's local currency, the Naira, has hit a procedural snag. But what does this mean for the industry at large? The immediate effect…

Understanding Nigeria's Crude Oil Dilemma It seems Nigeria may soon witness another increase in petrol prices, and the reason might surprise you. Recently, the Nigerian National Petroleum Company (NNPC) Limited has reportedly halted a significant arrangement: the naira-for-crude deal with local refineries. It's a complex issue that might ripple through various sectors of everyday life. Inside sources suggest that NNPC has ceased this crucial deal, which now forces local refineries,…

Fuel Price Reduction: A New Dawn for Nigerians On Monday, Nigerians will breathe a little easier with a new development that promises financial relief. There’s no denying that fuel costs have been a significant burden since the removal of fuel subsidies in this bustling nation. But what does this price cut mean for the everyday Nigerian? Recently, Dangote Petroleum Refinery took a bold step, lowering its ex-depot price from N890 to N825 per litre. It’s not just a number; it's a…

Malnutrition poses a formidable obstacle for many African countries. According to a recent UNICEF report, a staggering 64 million children across the continent—roughly one-third—are grappling with "severe food poverty." This dire situation is likely to escalate into "wasting," a perilous form of malnutrition that can have devastating consequences. How do we turn the tide on such a pervasive issue? At the forefront of this global conversation is the Nutrition for Growth (N4G) Summit 2025, scheduled to take place in Paris.…

The administration of U.S. President Donald Trump is poised to introduce new tariffs targeting key trading partners: Canada, Mexico, and China. This move could disrupt supply chains that span multiple sectors—from energy to automotive—while raising alarms about potential inflation. Specifics of the tariffs are already generating concern. Mr. Trump intends to impose a steep 25% tariff on imports from Canada and Mexico, attributing this decision to what he perceives as these nations’ inadequate efforts to curb illegal…

Arsenal's grit was commendable, even as they navigated the choppy waters of losing key defenders Gabriel and Jurrien Timber in the latter stages, on top of the suspended William Saliba and the injured Riccardo Calafiori not being available.These are the challenging circumstances, yet for Arteta and his squad in the cutthroat arena of the Premier League's upper echelon, the current standings are sounding alarm bells.The Gunners' draw with Liverpool only lent a hand to Manchester City, who are comfortably perched at the summit…

This year, the Tabaski festival is characterized by the pandemic, but in Chad the most important problem is the price of sheep, which has risen sharply in the capital's markets compared with previous years. So this Tuesday, the morning of Tabaski in Chad, Ndjamenois began to organize to enjoy the party despite tight budgets. as…