Author: Adejuyigbe Francis

Nigeria’s petroleum sector remains the backbone of the economy, accounting for the bulk of export earnings, foreign exchange inflows, and government revenue. However, persistent challenges such as declining crude oil production, weak investment inflows, regulatory bottlenecks, and governance concerns have limited the sector’s full potential. In response, President Bola Ahmed Tinubu has approved the creation of a Presidential Petroleum Reform and Value Optimisation Task Force to design and coordinate a new wave of structural reforms in the petroleum industry. The initiative represents a strategic move by the administration to deepen reforms, strengthen governance, attract investment, and reposition Nigeria as a…

His Excellency, Emmerson Mnangagwa, President of Zimbabwe, today met with Herbert Mensah, President of Rugby Africa (www.RugbyAfrique.com), at State House to discuss Zimbabwe’s preparations for the Rugby World Cup 2027, one of the world’s biggest sporting events. Historic Return to the World Stage After 34 years, the Zimbabwe Sables have qualified for the Rugby World Cup by winning the 2025 Rugby Africa Cup in Kampala. Zimbabwe becomes the only African team to qualify through regional competition, alongside automatic qualifier South Africa’s Springboks, reigning champions. Government and Rugby Africa Unite Organized by the Zimbabwe Rugby Union, the meeting highlighted the importance…

Energy supermajor, Chevron, has appointed Emmanuelle Garinet as Director of Exploration for the Americas and Sub-Saharan Africa, bringing one of the upstream industry’s most experienced exploration geophysicists into a strategic leadership role overseeing discovery efforts across two of the world’s most critical hydrocarbon regions. The African Energy Chamber (AEC), welcomed the appointment, describing it as a positive signal for exploration investment in Africa. By placing a seasoned executive with decades of regional experience at the helm of Chevron’s discovery strategy, the Chamber anticipates accelerated geological insights, stronger collaboration between operators and host governments, and increased investment in frontier basins. Expanding…

The Federal Competition and Consumer Protection Commission (FCCPC), has revealed that Nigerians experience the highest level of consumer exploitation in the telecommunications, energy, and financial technology (fintech) sectors. The agency disclosed this during a press briefing at the Presidential Villa in Abuja, where its Executive Vice Chairman, Tunji Bello, highlighted the large volume of complaints received from citizens against companies operating in these industries. According to the commission, thousands of Nigerians report cases of unfair charges, poor service delivery, and exploitative business practices each year. The findings have raised concerns about regulatory oversight and the protection of consumer rights in…

Background: What Happened? Dangote Petroleum Refinery has again announced an upward revision of its ex‑depot petrol price to ₦1,175 per litre. This adjustment marks repeated increases within the space of a few days — with the price rising from ₦774 → ₦874 → ₦995 → ₦1,175 per litre in just about a week. The latest revision was confirmed to media outlets by industry sources including the Independent Petroleum Marketers Association of Nigeria (IPMAN). Why the Price Is Rising 1. Surge in Global Crude Oil Prices The refinery says the price rise directly reflects rising crude oil costs on international markets.…

Overview The 2026 edition of the Hotel Chain Development Pipelines in Africa report by W Hospitality Group reveals a record-breaking growth in the continent’s hotel development sector. Key highlights include: Total pipeline: 123,846 rooms across 675 hotels and resorts. Year-on-year growth: 18.6% overall; 12.2% on a same-store basis. Development concentration: While Africa sees continental growth, activity is increasingly concentrated in a small number of dominant markets. The top 10 countries account for 79% of total pipeline rooms and over 75% of new signings. Top Performing Markets North Africa Leads Overall Volume Egypt dominates the African hotel development landscape, with: 45,984…

Background: The Iran Conflict and Global Energy Markets The current war involving Iran, the United States, and Israel has significantly rattled global energy markets. Military operations have raised fears of disruption in major Middle Eastern oil and gas supply routes—especially around the Strait of Hormuz, through which roughly a fifth of the world’s oil trade normally flows. Analysts warn that even if direct supplies to Europe from the region are limited, global markets are tightly interconnected. Prices in global benchmarks such as Brent crude and European natural gas indexes respond quickly to geopolitical risk, with even modest supply disruptions rippling…

Historic Breakthrough for Nigeria’s Deepwater Sector His Excellency, President Bola Ahmed Tinubu, GCFR, has approved a targeted fiscal incentive designed to unlock the long-awaited Final Investment Decision (FID), on the Bonga Southwest Aparo (BSWA), deepwater project. The approval marks a major milestone in Nigeria’s ongoing efforts to attract strategic investments and accelerate sustainable economic growth. The project is estimated to attract approximately $20 billion in Foreign Direct Investment (FDI), positioning Nigeria for a new era of deepwater oil and gas production. Months of Strategic Engagement Deliver Results The Presidential approval follows months of intensive technical and commercial negotiations involving NNPC…

The financial governance landscape in Nigeria recorded another major development on 11 March 2026, when President Bola Ahmed Tinubu nominated Lamido Abubakar Yuguda, a former Director-General of the Securities and Exchange Commission (SEC), as Deputy Governor of the Central Bank of Nigeria (CBN). The nomination, which still requires confirmation by the Senate, forms part of ongoing efforts by the Tinubu-led administration to strengthen the leadership and policy direction of the apex bank. The move also comes amid broader reforms in the financial sector, where the government has been repositioning institutions responsible for monetary policy, financial regulation, and economic stability. Background…

Nigeria petroleum landscape is undergoing a significant transformation as the Dangote Petroleum Refinery has dramatically increased its contribution to national petrol supply, now accounting for approximately 92% of daily consumption. This surge in local refining capacity has prompted the Federal Government to entirely halt petrol imports for the year 2026, marking a pivotal moment for Nigeria’s energy independence. A Paradigm Shift in Fuel Supply Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for February 2026 reveals that domestic refining supplied about 36.5 million litres of petrol per day, out of a national total of 39.5 million litres.…

The Federal Government of Nigeria has unveiled a $500 million Sustainable Power and Irrigation for Nigeria (SPIN), Project, a major infrastructure and agricultural development initiative designed to improve irrigation systems, strengthen dam safety, and boost hydropower generation across the country. The project, supported by financing from the World Bank, aims to enhance food security, promote climate resilience, and stimulate economic growth by improving water resource management and agricultural productivity. The initiative forms part of the government’s broader strategy to modernise Nigeria’s irrigation infrastructure and reduce reliance on rain-fed agriculture, which remains vulnerable to climate variability and inconsistent rainfall patterns. Background…

Nigeria’s football community is mourning the passing of one of its most respected tacticians, Chief Festus Adegboye Onigbinde, who died at the age of 88. The revered coach, widely known as “The Teacher,” passed away on March 9, 2026, after a brief illness, according to a statement released by his family. Onigbinde’s death marks the end of a remarkable era in Nigerian football. For decades, he was celebrated as a pioneer of indigenous coaching and a key figure in the development of the national team. Early Life and Background Festus Adegboye Onigbinde was born on March 5, 1938, in Modakeke,…