Author: Adejuyigbe Adegoke

Nigeria’s downstream petroleum sector has been thrown into fresh uncertainty following a new increase in petrol prices by the Dangote Petroleum Refinery. The refinery has raised its gantry (ex-depot), price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦995 per litre, marking one of the sharpest price jumps in recent months. The latest adjustment is expected to trigger another rise in pump prices nationwide, potentially pushing the cost of petrol at filling stations above ₦1,050 per litre depending on transportation costs and marketers’ margins. Rapid Price Increase Within Days The new price represents a dramatic surge over a…

In a move to strengthen Nigeria’s global diplomatic ties, President Bola Ahmed Tinubu has approved the postings of 31 career ambassadors and 34 non-career ambassadors to various countries and international organisations, including the United Nations. This follows the confirmation of these diplomats by the Nigerian Senate in December of the previous year. The appointed diplomats are set to represent Nigeria in diverse locations, contributing to foreign relations, economic diplomacy, and global image. Non-Career Ambassadors / High Commissioners Non-career ambassadors, often appointed based on political considerations or notable contributions to national service, play an essential role in representing Nigeria in key…

The Central Bank of Nigeria (CBN), made headlines in January 2026 with a major financial move—its withdrawal of a staggering N13.41 trillion from the financial system. This decision, which has caused ripples across the economic landscape, was reported by the Financial Markets Dealers Association (FMDA). The move, with its large scale and the potential long-term implications, has prompted various analysts, policymakers, and financial experts to assess its impacts on inflation, liquidity, and the broader Nigerian economy. Background: The Role of the Central Bank of Nigeria (CBN) The CBN is Nigeria’s apex financial institution, tasked with regulating the nation’s monetary policy,…

On March 3, 2026, Melania Trump delivered an impactful address at the United Nations Security Council (UNSC), briefing focused on the intersection of children, technology, and education in conflict-affected regions. Speaking from New York City as the United States assumed the presidency of the Council, the First Lady emphasized education, access to technology, and global cooperation as the foundation for sustainable peace and the protection of children worldwide. Honouring Sacrifice and Extending Compassion Trump opened her remarks by expressing condolences to families who lost loved ones in conflict and offered support to those injured, highlighting the human cost of instability.…

The U.S. Embassy in Abuja has announced the temporary closure of its embassy in Abuja for routine business and visa services and the rescheduling of scheduled appointments, citing heightened security concerns over potential protests in Africa giant’s capital. Authorities also issued precautionary advisories to U.S. citizens living in or visiting Abuja amid a volatile domestic and global security environment. What Happened? Embassy Closure and Appointment Rescheduling On Thursday, March 5, 2026, the U.S. Mission said that the embassy would remain closed for routine business — including visa interviews and some citizen services — until at least Monday, March 9, 2026.…

Access to quality higher education in Nigeria often comes with significant financial challenges for many students. However, recent developments at the National Open University of Nigeria (NOUN), have brought relief and hope to several students who applied for the federal student loan scheme. The Vice-Chancellor of the National Open University of Nigeria (NOUN), Uduma Oji Uduma, has approved the disbursement of funds from the Nigerian Education Loan Fund (NELFUND), to the e-wallets of eligible students who applied for the federal student loan scheme. The approval marks a significant step in implementing the government’s initiative to improve access to higher education…

The Export-Import Bank of the United States (EXIM), officially announced the membership of its 2026-2027 Advisory Committee and Sub-Saharan Africa Advisory Committee in a public meeting yesterday. The EXIM Board of Directors unanimously approved all appointments, underscoring the Bank’s commitment to leveraging expertise from diverse sectors to strengthen American exports and global competitiveness. Bob Diamond, CEO and Founding Partner of Atlas Merchant Capital, will serve as Chairman of EXIM’s Advisory Committee, while Florie Liser, President and CEO of the Corporate Council on Africa, will lead the Sub-Saharan Africa Advisory Committee. “EXIM’s Advisory Committee and Sub-Saharan Africa Advisory Committee play a…

In a major boost for technical education and engineering capacity in Nigeria, the Federal Government (FG), has approved ₦48 billion in funding — equating to ₦4 billion for each of 12 universities — earmarked specifically for upgrading engineering and technology facilities across the country. The announcement was made on Monday, March 2, 2026, in Abuja by the Minister of Education, Dr. Maruf Tunji Alausa, during the inauguration of the Implementation Committee for the Tertiary Education Trust Fund (TETFund), Special High-Impact Intervention Projects. Strategic Aims of the Intervention According to the Minister, the initiative is designed to rehabilitate engineering workshops, laboratories,…

In a significant move that is already rippling through Nigeria’s fuel market, the Dangote Petroleum Refinery & Petrochemicals has increased its Premium Motor Spirit (PMS), — commonly referred to as petrol gantry price to ₦875 per litre from the previous ₦774 per litre, representing a ₦101 increase at the refinery gate. Why the Price Was Increased According to a senior official from the refinery, the adjustment was driven by recent volatility in global crude oil markets and rising replacement costs. The refinery stated that the review became necessary due to shifts in global crude fundamentals, which directly impact the cost…

Abuja, Nigeria – President Bola Ahmed Tinubu is set to officially swear in Olatunji Disu as the substantive Inspector-General of Police (IGP), on Wednesday, March 4, 2026. This development follows the unanimous endorsement of Disu’s appointment by the Nigeria Police Council (NPC), during its meeting on Monday, March 2, 2026. The swearing-in ceremony is scheduled to take place during the Federal Executive Council meeting, as confirmed by Bayo Onanuga, Special Adviser to the President on Information and Strategy. Background to the Appointment Olatunji Disu’s journey to the top echelon of the Nigeria Police Force began with his appointment as Acting…

Dangote Cement Plc, Africa’s largest cement manufacturer and one of Nigeria’s most prominent listed companies, has announced a substantial increase in its dividend payout following a dramatic rise in profitability for the full year ended December 31, 2025. The company’s decision reflects stronger earnings performance, improved margins and confidence in future growth prospects. The company reported a twofold leap in net profit, crossing the N1 trillion mark for the first time in its history, and proposed a final dividend of N45.00 per share, representing a 50% increase from the previous year. This impressive growth underscores the company’s resilience and strategic…

The global oil market is on edge as escalating hostilities between the United States, Israel, and Iran have injected a significant geopolitical risk premium into crude prices. What began as regional tensions has intensified into coordinated military strikes and reciprocal threats, pushing traders to price in the possibility of supply disruptions from one of the world’s most oil-critical regions. Market Reaction: Volatility and Price Spikes In the immediate aftermath of U.S. and Israeli strikes on Iranian targets, global crude benchmarks have already climbed sharply: Brent crude and West Texas Intermediate (WTI), futures rose through the week as conflict fears intensified,…