Thursday, April 2, 2026

Nigeria's fuel prices surge as the US-Israeli war on Iran disrupts global oil markets


Despite being one of Africa's largest oil producers, Nigeria is experiencing soaring fuel prices driven by global energy volatility linked to the US and Israel's war against Iran. The Dangote refinery produces 75 million litres of petrol daily—exceeding domestic demand—but disrupted crude supplies and surging global prices have pushed local petrol costs up 50 per cent in the first month of the conflict. Commercial operators and families are struggling as transport and food prices climb, forcing many to cut back on essential purchases and meals. The refinery is working to diversify crude sources and develop its own oil production to reduce dependence on volatile international markets.

Nigeria fuel prices surge 65% amid global oil shock



Fuel prices in Nigeria have surged by 65% amid a global oil shock, even as the country's foreign reserves continue to decline. Analysts attribute the pressure to low oil production, theft, and underperforming refineries. With oil accounting for more than 80% of foreign exchange earnings, the shortfall is driving higher living costs and currency instability.

Nigeria makes progress in recovering looted Benin artefacts



Nigeria has recorded a breakthrough in the effort to recover artefacts looted during the 1897 Benin Expedition. A joint announcement by Cambridge University and Nigeria’s Commission for Museums and Monuments confirms the transfer of legal ownership, while physical returns are planned for the coming months. The move forms part of a wider push across Europe to address colonial-era collections.


Ex-Nigeria Airways staff demand $26mn severance payout

Former employees of defunct Nigeria Airways (Lagos) are urging the federal government to release NGN36 billion (USD26 million) in severance benefits approved by President Bola Ahmed Tinubu last year, reports Nigeria's Daily Trust newspaper.

The payments, approved in June 2025, were meant to resolve a decades-long struggle for compensation following the airline's liquidation in 2004. However, nine months after the presidential directive, the funds have yet to be disbursed, according to workers’ representatives.

In a March 29 statement, spokesperson Sheri Kyari, also a former assistant manager at Nigerian Airways, said the finance ministry had not yet authorised the release of the money. The group appealed to the current finance minister, Wale Edun, and other officials to act immediately.

"Across Nigeria, elderly former workers are dying in penury, unable to afford food, shelter, medication, and other basic necessities of life," Kyari said, adding that some retirees had died without receiving their entitlements.

The former employees' struggle for severance pay has spanned multiple administrations. Former president Muhammadu Buhari approved partial payments after years of protests, but a balance remained outstanding until Tinubu’s approval last year.

Nigeria Airways ceased operations in 2003 and was formally liquidated in 2004 by the federal government.

By Hilka Birns, ch-aviation

World Bank approves $500m to boost Nigeria’s agriculture, target one million farmers

The funding, provided through the International Development Association (IDA), will support the Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW) project over a six-year period from 2026 to 2032.

The project is designed to improve farm productivity, strengthen value chains, and create jobs, while helping to stabilise food supply in Africa’s most populous nation.

Agriculture remains central to Nigeria’s economy, contributing about a quarter of gross domestic product and employing roughly half of the workforce.

Yet the sector has struggled for years with low yields, weak infrastructure, climate shocks, and limited access to finance, leaving many smallholder farmers stuck in subsistence production.

The AGROW programme aims to shift that model by linking farmers more directly to markets and private sector buyers.

It will provide matching grants to agribusinesses that source produce from smallholder farmers, with a focus on processing, storage, and market access.

Key crops targeted under the initiative include rice, maize, cassava and soybeans, staples that are critical to both food security and industrial use.

Beyond financing, the programme will invest in research and extension services, expand access to climate-resilient seeds, and introduce a national digital registry for farms and farmers.

Authorities say the digital system will help improve planning, input distribution, and access to advisory services, including weather information.

The project will also seek to improve regulation of seeds and fertilisers, while encouraging private sector participation in input supply and land-based investments.

“AGROW is a transformative step for Nigeria’s agriculture, empowering smallholder farmers, unlocking private sector–led growth, and strengthening food security in a sustainable way,” said Mathew Verghis, the World Bank’s country director for Nigeria.

He added that the initiative is expected to benefit up to one million farmers and attract significant private capital into the sector.

The World Bank estimates the programme could mobilise an additional $220 million in private investment over its lifetime.

The new funding comes amid broader efforts by the Nigerian government to revive agriculture as a driver of growth and reduce reliance on food imports.

In recent months, authorities have launched complementary initiatives, including irrigation expansion projects aimed at improving year-round farming.

However, investment in the sector remains relatively low. Nigeria allocated less than 2% of its 2025 budget to agriculture, far below the 10% target agreed by African countries under the Maputo Declaration.

Past interventions such as the Commercial Agriculture Credit Scheme and the Anchor Borrowers’ Programme have sought to improve access to finance and boost domestic production, but structural challenges persist.

With rising food prices and pressure on household incomes, the success of AGROW will be closely watched as a test of whether Nigeria can translate policy support and external funding into tangible gains for farmers and consumers.

By Ayodeji Adegboyega, Business Insider Africa

Wednesday, April 1, 2026

Nigeria’s Masai Ujiri Joins Serena Williams as Co-Owners of Toronto Tempo

 

Masai Ujiri, one of the most respected executives and visionaries in global basketball, has joined the Toronto Tempo as a Principal Owner.

Ujiri joins in a Principal ownership role alongside Serena Williams.

As the architect of the Toronto Raptors’ 2019 NBA Championship and founder of Giants of Africa, Ujiri has dedicated his career to empowering global communities through sport while championing women’s empowerment, equity, and opportunity at every level of leadership and development.

Now, as an owner of the Toronto Tempo, he brings that same vision to developing the next generation of leaders in women’s basketball in Canada and around the world.

“As an honourary Canadian, I’m excited to be part of the Tempo team as I believe they are building something truly historic — a franchise that represents not only Canada, but the future of basketball,” said Ujiri. “I believe deeply in the vision behind the Tempo: creating female leaders, elevating women not just on the court, but across the organization, and building a championship culture from day one. This is more than just a new team — it’s a defining moment in women’s basketball globally.”

Ujiri’s commitment to advancing women in sport comes to life through Tempo Rising, an innovative global coaching mentorship program launching today in collaboration with the Tempo. A first-of-its-kind initiative, Tempo Rising supports emerging women-identifying and non-binary coaches at the introduction-to-competition level who are shaping the future of the game in their communities.

The programme offers exclusive access to mentorship, professional development, and hands-on coaching experiences, guided by Masai Ujiri alongside General Manager Monica Wright Rogers and Head Coach Sandy Brondello, with a focus on value-driven coaching, community impact, and long-term growth. Interested candidates can apply here.

“Masai’s leadership, his vision, and his deep belief in the power of sport make him an extraordinary addition to our ownership group,” said Larry Tanenbaum, Chairman of Kilmer Sports Ventures. “In his role as a Principal Owner, his influence and values align perfectly with what Tempo stands for — equity, excellence, and purpose. Together, we will continue to build a franchise that reflects the best of what sport can do for communities here in Canada and around the world.”

Why Nigeria's Kunle Afolayan believes YouTube is key to the future of African filmmaking








Nigerian producer and director Kunle Afolayan is optimistic. He believes new technologies and platforms can open a wealth of opportunities for filmmakers across Africa.

“I don’t think that building more multiplexes is the solution to distribution,” he says. “It’s more looking at new innovations. An average teen would hardly go to the cinema. They sleep on their phone. How do you take film to them?

“I believe in cinema, I love cinema, I grew up with cinema. But I don’t think it should be rigid. We should allow some sort of flexibility that gives room for different platforms to get the film to the people. The ticket prices in cinemas are exorbitant, even in Africa. People will always find cheaper ways to watch the film. They’ll pirate it. A lot of Nigerians are now opening channels on YouTube. They make films, and they take them straight to YouTube.”

Afolayan is one of Nollywood’s most renowned filmmakers, credited as a leading proponent of the New Nigerian Cinema movement, thanks to titles including 2006 supernatural thriller Irapada and 2010’s The Figurine, which won best film at the Africa Movie Academy Awards. His pictures began to find an international audience when Netflix licensed his 2014 thriller October 1. In 2021, he landed a three-year deal to produce three films in Nigeria as Netflix Originals: Swallow, Aníkúlápó and Ijogbon.

The filmmaker is grateful for the global platform the streamers have given to African filmmaking, even if they have recently pulled back on commissioning in the region.

“It was a struggle for African films to get selected in major festivals, except if it’s a co-production project,” he says. “Then Netflix came, and that changed things. Films were taken to the global scene.”

Afolayan also recognises the streamers’ investment in local talent: “We have a school [Kunle Afolayan Productions Film and Television Academy, or KAP] on which Netflix partnered and brought the University of Southern California on board to equip training rooms.”

The relationship Afolayan has forged with Netflix is continuing. The second season of an Aníkúlápó spin‑off series premiered on the platform in English-speaking territories at the end of January.


Attracting partners

The filmmaker is keen to encourage more international productions to look to Nigeria and Africa for filming opportunities. He points to the production and accommodation facilities he funded and founded, KAP Hub in Lagos and KAP Film Village in Igbojaye, Oyo state, as examples of Nigeria’s film infrastructure. He is also keen to express that Western media reports of violent kidnappings are not representative of the whole of Nigeria.

“Most of the places the attacks are happening are in the north,” he clarifies.

Two UK-Nigeria co-productions, both shot in Nigeria, have recently played major film festivals Cannes 2025 Un Certain Regard selection and Bafta winner My Father’s Shadow, from British Nigerian filmmaker Akinola Davies Jr, and Olive Nwosu’s Sundance 2026 selection Lady. It is a point of frustration for Afolayan that African producers have to co-produce with their Western counterparts to generate interest from festivals, and that ideas originated in Nigeria from Nigeria-based producers are not breaking through.

“The whole country was celebrating, it’s a Nigerian film,” says Afolayan, when word broke that My Father’s Shadow had landed in Cannes last year, billed at the time as the first Nigerian film to do so. “Then, the shocker came [that the film is largely funded and produced out of the UK, with Davies a UK-based filmmaker].”

Afolayan is now in pre-production on a self-funded 10-part series about the Yoruba tribe and its deities, with plans to shoot in Benin and Nigeria. He is also working on a docudrama about his late father, filmmaker and actor Adeyemi Afolayan, and is talking to the Royal African Society in the UK, organiser of London’s Film Africa festival at which Afolayan delivered a masterclass last year, about supporting the project.

Afolayan has been developing the project for around seven years and was struggling to work out how to recreate his father’s likeness, until he experimented using the Meta app. “With AI, the problem is solved.”

By Mona Tabbara, Screen Daily

Nigeria expands telecom investment, to install new 1,000 towers

The Nigerian Government is set to accelerate telecom infrastructure development in rural areas, targeting the installation of 1,000 new telecommunications towers in 2026 as part of a broader strategy to expand digital connectivity and bridge longstanding access gaps.

Bosun Tijani, Minister of Communications, Innovation and Digital Economy, disclosed this on Tuesday in Abuja during a briefing on the National Digital Economy Research Clusters Programme, part of the World Bank-backed Project BRIDGE.

Tijani revealed that “The president has approved 3,700 towers nationwide… we are working to deliver at least 1,000 of these this year,” noting that more than 20 million Nigerians remain in areas without any form of connectivity.

He explained that the tower rollout is part of a broader digital infrastructure strategy, which includes deploying 90,000 kilometres of fibre-optic network across all states, local governments, and wards. “If we have a ubiquitous fibre network across Nigeria, complaints about service quality will change completely… true connectivity requires fibre,” Tijani emphasized.

The government’s strategy also includes upgrading communication satellites and expanding digital access, a combination the minister described as unprecedented among developing countries.

Tijani highlighted the launch of the National Digital Economy Research Clusters, a university-led initiative designed to support evidence-based policymaking. Each of the six clusters will bring together leading academics, supported by postdoctoral researchers and PhD candidates, with over 200 researchers expected to contribute over three years.

Backed by N12 billion over three years, the programme is intended to generate data-driven insights to guide both government and private sector decisions. International collaborations are expected to complement domestic research efforts.

On governance, Tijani said the clusters will operate under a structured framework with the communications and education ministries, alongside independent management to ensure transparency and accountability.

The minister also noted that the digital economy’s contribution to GDP has risen to nearly 20 per cent, with a target of 21 per cent next year. He highlighted flagship initiatives such as the 3 Million Technical Talent programme, which aims to build technology capacity across all 774 local government areas.

Nigeria continues to attract Africa’s largest telecom investment inflows, with operations of major firms in the country exceeding those in their home markets.

Tijani further revealed that the Digital Economy Bill is before the National Assembly to provide a unified legal framework, alongside plans for a national data exchange system, AI strategy, and digital postcode system to enhance service delivery and commerce.

He added that Nigeria ranks 35th globally in policy capacity, anchored by the National Strategy, and 49th in development and diffusion, reflecting growing strength in research, talent, and innovation.

The minister linked the research clusters to Project BRIDGE, a programme that includes 90,000 kilometres of fibre-optic network and 3,700 towers to expand rural connectivity. “If we have a ubiquitous fibre network across Nigeria, the complaints today about connectivity quality will change completely,” he said.

Each cluster will operate under annual targets for publications, workshops, and training.

Tunji Alausa, Minister of Education, said the initiative reflects the government’s commitment to repositioning Nigeria’s education system to support economic growth, prioritizing connectivity for schools and hospitals. He disclosed a $2 billion World Bank facility to fund fibre expansion.

The research clusters are expected to address digital governance, online safety, job creation, and agricultural innovation, while building capacity among postgraduate researchers. Alausa emphasized that the programme would catalyze further investment and stimulate entrepreneurship through equity-free student grants.

Academic leaders, including the Vice-Chancellors of Olabisi Onabanjo University and Ajayi Crowther University, commended the initiative, noting its potential to accelerate digital transformation, reduce brain drain, and integrate universities fully into the digital economy.

The planned rollout is part of the government’s broader 3,700-tower rural connectivity plan, initially announced in December 2025, which aims to connect millions of Nigerians currently without reliable mobile or internet access.

Tijani said the clusters are designed to address key areas including connectivity, digital public infrastructure, skills development, jobs, consumer protection, and artificial intelligence. “The digital economy is a knowledge-driven sector. We cannot rely only on ideas developed elsewhere. We must generate our own insights, rooted in our realities,” he said.

The initiative reflects Nigeria’s broader ambition to expand the digital economy, which has grown from contributing 16–18 per cent of GDP when the current administration took office to nearly 20 per cent today, on track to meet the government’s 21 per cent target.

The growth has been supported by investments in talent development, infrastructure expansion through Project BRIDGE and NUCAP, and strengthened space and communications capabilities, including the approval of two new satellites.

Tijani emphasized that universities must evolve beyond teaching to become engines of problem-solving. He cited previous government-supported research efforts in artificial intelligence, which produced 27 peer-reviewed publications from 45 funded projects in 2023 alone, as evidence of Nigeria’s growing research capacity.

“The Digital Economy Research Clusters will bring together universities, researchers, and global partners into focused clusters that directly inform policy and innovation,” Tijani explained. He highlighted that the clusters aim to build long-term research capacity, strengthen policy, and deepen Nigeria’s ability to adopt and deploy technology effectively.

The launch represents a major step toward ensuring that Nigeria not only adopts emerging technologies but also generates the research and talent needed to shape and influence the global digital landscape.

“It’s not just about the 200 researchers. It’s the cascading effect that will happen afterwards. The initiative won’t stop here; it will continue to grow from what we’re starting today,” he said.

Tuesday, March 31, 2026

Gunmen kill at least 30 in Nigeria's Plateau state attack

Gunmen attacked a university community in Nigeria's central Plateau state on Sunday night, killing ​at least 30 people, residents and local officials said on Monday, ‌the latest bloodshed in a region scarred by deadly farmer-herder conflicts.

Violence in central Nigeria, known as the Middle Belt, is often painted as ethno-religious between ​mainly Muslim Fulani herders and Christian farmers. But many experts ​and politicians say climate change and expanding agriculture stoke ⁠competition for land, leading to conflicts regardless of faith or ethnicity.

Markus ​Audu Kando, a resident and co-chair of Plateau youth interfaith group ​said by phone: "As I speak with you, the figure is now 30 ... There are injured people at the hospital, but I cannot confirm their number."

Residents said ​the gunmen arrived in the Gari Ya Waye community of ​Angwan Rukuba district and shot at people indiscriminately.

The Plateau state government said the gunmen ‌were ⁠unknown and imposed a 48-hour curfew in the district. The University of Jos suspended examinations due to start on Monday.

“People were here in the evening and unfortunately, wicked terrorists came and attacked our ​people. We have ​counted scores ⁠of people who are now dead and then so many others are also in the hospital receiving ​treatment,” Paul Mancha, a resident and chairperson of the ​youth ⁠council in Plateau, said earlier.

U.S. President Donald Trump last November re-designated Nigeria "a country of particular concern" saying Christians were being targeted and authorities ⁠were failing ​to protect them, which the Nigerian ​government denies.

Press groups condemn Nigeria police beating journalist covering Eid celebrations

Press rights groups, including the Committee to Protect Journalists (CPJ), Centre for Journalism Innovation and Development (CJID), Media Rights Organization (MRA), and International Press Centre, on Friday condemned the March 21 beating of Nigerian journalist Muhammad Sani Adamu in Bauchi state by local police.

The CPJ called for authorities to transparently conduct investigations and hold those responsible to account. The CJID described the incident as a gross violation of human rights and press freedom, emphasizing the importance of media protections and calling the press a “constitutionally recognized pillar of democracy” that requires a safe environment to function properly. The CJID also pressured Nigerian police to cover Adamu’s medical expenses.

The MRA told the Bauchi state police commissioner that he must act decisively to end attacks against journalists, including instituting appropriate training for police officers on the rights and constitutional duties of journalists, issuing operational directives on engagement with media, and enforcing disciplinary consequences for violations.

Organizations collectively called for greater accountability for police abuses and protection for journalists. The CPJ said that attacks against journalists in Nigeria occur “with general impunity.” WikkiTimes Media Foundation, a local media group, said the violence was “not an isolated incident” and worried that it reflected a “recurring pattern of police violence against journalists.” The CPJ has previously condemned other attacks against journalists in Bauchi state, including 14 attacks against journalists covering Nigerian presidential and federal elections in February 2023 and criminal charges levied against two journalists in July 2022 for political reporting.

Adamu had attempted to gain access to Eid Durbar festivities held in Tafawa Balewa Square in Bununu, in northeastern Nigeria. He told press groups that he tried to show his press badge to police and identify himself as a journalist. The situation quickly escalated as two officers began to physically assail him. A group of at least 10 policemen then reportedly joined to flog him with sticks, cutting his head open.

A police spokesperson said Bauchi police planned to conduct an investigation into the incident and publicly release findings.

The attack reflects a pattern of reported state abuse of Nigerian journalists, including arbitrary detention and criminalization of reporting. The MRA had filed a lawsuit that resulted in a February 2024 federal high court judgment ordering authorities to investigate and appropriately punish all attacks by journalists. The court held that the state had violated Principle 20 of the Declaration of Principles on Freedom of Expression and Access to Information in Africa, which protects the safety of journalists.

By Tony Xun, Jurist News

Monday, March 30, 2026

146 deaths recorded, 38 health workers infected as Lassa fever spreads in Nigeria

Nigeria has reported 146 deaths from Lassa fever between January and mid-March, as infections continue to spread across the country.

The Nigeria Centre for Disease Control and Prevention (NCDC) disclosed this in its latest situation report for Epidemiological week 11, spanning 9 to 15 March.

The infectious disease agency said 38 health workers have also been infected so far this year, highlighting ongoing risks within healthcare settings.

The report shows that the case fatality rate (CFR) stands at 25.1 per cent, significantly higher than the 18.7 per cent recorded during the same period in 2025.

During the reporting week, confirmed cases rose from 40 in week 10 to 66, with new infections recorded in Bauchi, Ondo, Taraba, Plateau, Edo, Benue, Kogi, Gombe and Niger states.

Cumulatively, 21 states and 82 local government areas have recorded at least one confirmed case in 2026.

According to the NCDC, five states —Bauchi, Ondo, Taraba, Benue, and Edo—account for 85 per cent of all confirmed cases.

Bauchi leads with 28 per cent of infections, followed by Ondo (21 per cent), Taraba (20 per cent), while Benue and Edo each account for eight per cent. The remaining 15 per cent of cases are distributed across 16 other states.


More details

NCDC noted that young adults aged 21 to 30 years remain the most affected group, although cases have been recorded across a wide age range, from 1 to 90 years.

Despite the rise in weekly cases, the NCDC said no new infections among health workers were recorded in week 11.

However, the cumulative figure of 38 infections among frontline workers highlights the persistent gaps in infection prevention and control measures.

Infections among health workers have consistently been attributed to inadequate use of personal protective equipment (PPE), low suspicion for Lassa fever during early patient contact, and weak infection control practices in some facilities.


Contributing factors

The report also indicates that while the number of suspected and confirmed cases is lower compared to the same period in 2025, the proportion of deaths remains high, suggesting continued challenges with late presentation and case management.

To strengthen response efforts, the NCDC said the national multi-partner, multi-sectoral Incident Management System has been activated to coordinate interventions across affected states.

However, several challenges continue to hinder effective control of the outbreak. These include poor health-seeking behaviour driven by the high cost of treatment, low awareness in high-burden communities, and poor environmental sanitation, which contributes to the spread of the virus.

The agency urged state governments to intensify community engagement and prevention efforts year-round, particularly in high-risk areas.

It also advised healthcare workers to maintain a high index of suspicion for Lassa fever, ensure early diagnosis and referral, and strictly adhere to infection prevention and control protocols.


About Lassa Fever

Lassa fever is a viral haemorrhagic disease transmitted primarily through contact with food or household items contaminated by the urine or faeces of infected rodents.

Human-to-human transmission can also occur through contact with bodily fluids.

Symptoms typically begin with fever, weakness and headache but can progress to severe complications, including bleeding, respiratory distress and organ failure if not treated early.

By Mariam Ileyemi, Premium Times

Giant oil refinery in Nigeria fails to prevent record gasoline prices

Fuel prices in oil-producing Nigeria have reached record-high levels, industry figures show, as maximum output from the giant Dangote Petroleum Refinery has failed to shield ​the country from the energy market impact of war in the Middle East.

The 650,000 barrels-per-day refinery, Africa's largest, became fully operational early this year. It was designed to ‌transform Nigeria into a major exporter of refined products after decades of inadequate refinery capacity. In the past, that repeatedly led to fuel shortages but government subsidies kept pump prices low.

President Bola Tinubu removed this buffer when he took office in 2023, promising reforms that earned plaudits from international investors.

Now Nigerians face the shock of a 65% price spike - the largest among major African economies as the impact of the new refinery has been blunted by the need to import ​large volumes of expensive crude from abroad, even though Nigeria is Africa's biggest oil producer.


INTERNATIONAL OIL MAJORS TAKE THEIR SHARE

The constraint stems from Nigeria’s financing model: state oil firm the ​Nigerian National Petroleum Company Limited’s joint‑venture crude is tied to oil-backed loans and pre‑export deals.

That means much of Nigeria's roughly 1.5 million barrels-per-day of production goes ⁠to paying debts to international oil majors, banks and traders. The NNPC does not disclose its obligations, but analysts estimate they amount to about 400,000 bpd.

David Bird, managing director at Dangote, told local ​TV that the company can only source about five crude cargoes a month locally, far short of the 13–15 required. It has to import the rest at prices dictated by the impact of the Middle ​Eastern war. For Nigeria the size of a cargo is typically around a million barrels.

The difficulty is compounded because Nigeria does not have a strategic fuel reserve and the government has yet to begin action to set one up.

"A strategic reserve would have shielded Nigeria somewhat from the inflationary effects of price spikes and keep refineries supplied during prolonged disruptions," Mikolaj Judson, an analyst at advisory company Control Risks, said.


IRAN WAR CAUSES UNPRECEDENTED SUPPLY DISRUPTION

The energy supply disruptions ​that have followed U.S.-Israeli attacks on Iran, which began at the end of February, are unprecedented. As a result of the conflict, shipment through the Strait of Hormuz, a route for about one-fifth of ​global energy supplies, is effectively closed for commercial shipping.

International oil prices have leapt to well above $100 a barrel, roughly 50% higher than before the war began, boosting the profits of many energy majors, while governments and ordinary ‌consumers grapple with ⁠the risk of a surge in inflation.

In Nigeria, pump prices have risen by 65%, more than elsewhere in the region, where government price controls have limited the rise.

Between March 2 and March 21, fuel prices rose by about 10–17% in Ghana, were unchanged in Kenya due to price controls, and increased by around 1% in South Africa, according to industry and regulatory pricing data.


INFLATION IS REIGNITED AFTER IT HAD BEGUN TO COOL

In Nigeria, inflation had begun to ease after reaching a record high last year, but since the start of the war, the cost of transport and some food items has doubled.

“We are already feeling it ​in Nigeria,” said Salau Sodiq, a 25‑year‑old frozen-food-seller ​in Lagos. "The prices of fish and chicken have ⁠doubled, customers are complaining, sales are falling, and it’s becoming harder for us to buy the volumes we need."

Ride‑hailing drivers in Lagos last week staged protests.

Nigeria's unreliable grid means many others are also exposed to expensive refined products as businesses and households rely on gasoline and diesel to power generators.


INCREASED VOLUMES DOMESTICALLY ​AND ALSO ABROAD

Dangote has raised gasoline supplies to Nigeria’s domestic market this month, even as it met growing demand from across Africa.

It sets its fuel ​prices in line with international ⁠fuel and crude benchmarks, factoring in freight and insurance costs.

The result was it raised its wholesale price by about 61% between early and late March, meaning customers are paying around 1,400 naira ($1.02) per litre in Lagos and Abuja, the highest Nigerians have ever paid.

After meeting Tinubu last week, Aliko Dangote, president of Dangote Group, said the conflict in the Middle East would worsen economic hardship across Africa unless it was urgently resolved.

Businesses and ⁠labour unions have ​called on the government for emergency relief, including tax incentives for refiners, more naira‑based crude supply and temporary cushioning measures, ​while accelerating longer‑term energy reforms.

In southern Oyo State, the governor approved a 10,000‑naira transportation allowance for state government workers, to run for three months from April, to help offset rising fuel prices.

But Wale Edun, Nigeria's finance minister, said the government will not ​interfere with an "orderly market pricing system", preferring instead to focus on ways of helping people to adapt.
($1 = 1,377.8300 naira)

By Isaac Anyaogu, Reuters

Gunmen kill at least 20 in nighttime attack in Nigeria

A night attack on a community in Nigeria ’s north-central region left at least 20 people dead, residents and authorities said.

The attack occurred on Sunday night in Gari Ya Waye community in the Jos North area of Plateau state, Joyce Lohya Ramnap, the state commissioner for information, said in a statement. She did not give the number of casualties, but said there was “loss of lives” and injured.

The state government imposed a 48-hour curfew to prevent further attacks, Ramnap said.

No group has claimed responsibility but residents told The Associated Press that many gunmen on bikes shot sporadically into the community.

Ibukun Falodun, a resident, said that 20 people were confirmed dead.

Attacks in Plateau State are part of a long-running cycle of violence in north-central Nigeria, where disputes over land and grazing between mostly Muslim Fulani herders and largely Christian farming communities frequently escalate into deadly clashes. Criminal gangs are also active.

Friday, March 27, 2026

Semiconductor shortages reshape tech use in Nigeria



Global demand for AI is straining semiconductor supplies, driving up prices for smartphones, laptops, and smart devices. In Nigeria, this is already altering how people buy and use mobile technology.

Middle East war drives more buyers to seek Nigeria’s liquefied natural gas exports

Nigeria is experiencing rising demand for its liquefied natural gas (LNG) cargoes as disruptions from the Middle East conflict create new commercial opportunities for the West African producer.

Buyers are increasingly turning to Nigeria due to its proximity to major consuming markets and the scale of its gas reserves, according to NNPC Executive Vice President Olalekan Ogunleye.

Nigeria LNG (NLNG), in which NNPC is the largest shareholder, has an export capacity of up to 22 million metric tons per year and is currently building a seventh production train expected to be completed in 2027, Reuters reported.

“We are right in the middle of the market. We are 10 sailing days from Europe, close to the Atlantic Basin and close to Asia,” Ogunleye said. “We see commercial opportunities, especially given that we have the largest gas reserves in Africa.”

Ogunleye noted that global demand for natural gas remains resilient and is unlikely to be derailed by ongoing geopolitical tensions.

He added that NNPC has begun discussions on adding two new LNG trains and is also advancing a 12 million metric tons per annum (mtpa) LNG project, alongside gas-based industrial hubs, to unlock more than 200 trillion cubic feet of reserves in Nigeria.


Global Shift Drives Interest in African Gas

Martin Houston, an LNG developer and consultant, said the U.S.-Israeli conflict with Iran has intensified the need for buyers to diversify supply sources.

He noted that countries in Africa and South America with proven gas reserves but limited market access could benefit from the growing interest in new LNG supply, including floating LNG solutions.

This trend is already playing out across Africa. Business Insider Africa earlier reported that Italy is seeking to increase gas imports from Algeria—Africa’s largest gas producer and exporter—after both countries agreed to deepen energy cooperation.

Spain is also considering boosting pipeline imports from Algeria as it looks to shore up supplies amid rising prices driven by the war in the Middle East.

By Adekunle Agbetiloye, Business Insider Africa

Thursday, March 26, 2026

Nigeria eases FX rules, lets oil firms retain full export proceeds

Nigeria's central bank has removed a requirement that forced international oil companies to temporarily retain part of their export earnings, allowing them ​to repatriate all proceeds in a move aimed at improving liquidity and ‌confidence in the foreign exchange market.

In a circular dated March 25, the central bank said it had scrapped earlier "cash pooling" requirements that allowed authorised dealer banks to transfer only half of ​oil export proceeds immediately, with the balance held for up to 90 ​days.

Under the new directive, oil companies may repatriate all export earnings ⁠through authorised banks, subject to documentation and monthly reporting, with immediate effect.

The move ​signals further liberalisation of Nigeria’s foreign exchange regime for oil exporters, a key source ​of dollar inflows, though it is unlikely to produce an immediate jump in supply.

The central bank said the move was part of ongoing reforms to “further liberalise and deepen the market in ​line with current market realities,” as it works to stabilise the naira currency ​and attract investment.

For international oil companies, the reform restores greater control over cash-flow management, allowing firms ‌to ⁠decide when and how to deploy export earnings without mandatory holding periods.

Industry executives say freer access to dollar revenues improves treasury efficiency and marginally lowers financial risk in Nigeria’s upstream sector, where confidence over capital mobility remains key.

The change reverses a restriction ​imposed in February 2024 ​amid acute dollar ⁠shortages that pushed the naira to record lows. At that time, the central bank capped immediate transfers of oil export proceeds ​at 50%, with the remainder held locally for 90 days ​in a ⁠bid to shore up dollar liquidity.

That earlier measure formed part of a broader package of reforms following years of foreign exchange strain linked to low oil prices and ⁠the ​COVID-19 shock.

Since then, the central bank has also raised ​open-market rates to attract investors and scrapped caps on foreign-exchange spreads in the interbank market as it ​unwinds controls introduced during periods of stress.

By Isaac Anyaogu, Reuters

Wednesday, March 25, 2026

Nigeria’s TB fight highlights urgent need for early diagnosis



On World Tuberculosis Day, Nigeria faces one of the highest TB burdens globally, with an estimated 510,000 new cases each year. Children are especially vulnerable, often showing symptoms similar to common respiratory infections, making early diagnosis critical. Families like Aisha Peter highlight the human impact behind the statistics, showing that timely treatment can save lives.

Dangote Refinery Boosts Africa Fuel Supply Amid Global Disruptions



Nigeria’s Dangote Refinery is emerging as a key supplier across Africa, ramping up fuel exports just as global energy flows face disruption due to the Iran war. With the plant now running at full capacity, shipments have begun reaching multiple countries, including South Africa, Ivory Coast, Cameroon and Ghana. The move is helping ease regional fuel shortages and highlights Africa’s growing role in stabilising energy supply chains.

Nigeria rolls out locally made armoured carriers as army ramps up defence capabilities


 







The Nigerian Army has taken delivery of a new batch of armoured personnel carriers, combining locally manufactured platforms with foreign-supplied vehicles, in a move that underscores the country’s growing ambitions in defence production and its continued reliance on international partnerships.

More than half a dozen Vanquisher light armoured personnel carriers, produced by the Defence Industries Corporation of Nigeria in collaboration with Vanquish Industries Limited, were delivered alongside dozens of Dagger APCs from French defence firm Arquus.

According to Defence Web, a total of 15 Vanquisher vehicles were formally handed over on March 4, marking what military officials described as a key milestone in Nigeria’s drive toward self-reliance in military hardware.

Built on a modified Toyota Land Cruiser platform and equipped with mounted weapon systems, the vehicles are tailored for Nigeria’s operational terrain, particularly in counter-insurgency missions.

Speaking at the handover, Major General Bamidele Alabi, Chief of Policy and Plans (Army), emphasized that indigenous defence innovation remains critical to achieving combat readiness and operational superiority.

He noted that locally developed platforms such as the Vanquisher are designed to address Nigeria’s unique security challenges while strengthening rapid response capabilities.

Nigeria’s investment in domestic defence manufacturing comes at a time when the country is battling persistent security threats, including insurgency in the northeast and banditry in other regions.

By expanding local production capacity, authorities aim to reduce reliance on imports, cut costs, and retain capital within the economy.

At the same time, the acquisition of Dagger APCs from France highlights Abuja’s pragmatic approach, combining homegrown innovation with international support to quickly scale its military capabilities.

The 4×4 Dagger weighs 5.5 tonnes and is designed for mobility in urban and complex environments. Powered by a 170 hp diesel engine, it can reach speeds of up to 110 km/h with a range of 800 km.

It carries two crew members and six troops, and can be fitted with either a pintle-mounted or remotely operated 7.62 mm machine gun. Over 1,200 units have been produced for countries including France, Chile, Romania, and Togo

Director-General of DICON, Major General BI Alaya, credited President Bola Ahmed Tinubu for supporting the expansion of Nigeria’s military-industrial base, describing the development as central to national sovereignty and long-term security.

Analysts say Nigeria’s dual-track strategy which involves building local manufacturing while maintaining foreign defence ties, positions it as an emerging player in Africa’s defence industry.

If sustained, this approach could not only strengthen national security but also open opportunities for Nigeria to supply military hardware to other African nations facing similar threats.

By Solomon Ekanem, Business Insider Africa

Tuesday, March 24, 2026

Demand surges in Nigeria for new HIV prevention injection ahead of rollout

Interest is rising across Nigeria in a new long-acting HIV prevention injection, even before its full nationwide rollout.

Health workers and community organisations say people are actively seeking access to Lenacapavir, a twice-yearly injectable drug designed to prevent HIV infection. The treatment, developed by Gilead Sciences and endorsed by the World Health Organisation in 2025, offers an alternative to daily preventive pills.

Nigeria’s government has begun introducing the drug in selected pilot states, with an official launch expected this week. Authorities say more than 11,000 doses have already been delivered, out of a planned 52,000.

The rollout will initially cover several states, including Lagos, Kano and Benue, as well as the federal capital, Abuja. The injection will be administered free of charge at designated public health facilities, not through private pharmacies.


High demand-and confusion

Civil society groups and frontline health workers report strong demand, particularly among people at higher risk of HIV exposure, including couples where one partner is HIV-positive.

However, some organisations say there is widespread misunderstanding about the drug. Many people believe it can cure HIV, when in fact it is only designed to prevent infection in those who are HIV-negative.

“People are asking for it even before it becomes widely available, but some think it’s a treatment rather than prevention,” one health worker said.

Nigeria has one of the largest HIV burdens globally, with around two million people living with the virus, according to recent estimates.


Caution from experts

Medical professionals have welcomed the innovation but stress the need for careful rollout. Pharmacists and regulators say the drug must undergo strict safety and quality checks before broader distribution.

Authorities have also issued guidance on its use, noting that it is currently approved only for non-pregnant individuals.

Despite these concerns, public health advocates say early adoption could help reduce new infections, especially among high-risk groups, if awareness improves and access expands nationwide.


Blackouts drive more Nigerians off-grid as solar demand booms

When the lights went out for the third time in a week at his Lagos textile factory, Emeka Okafor did not wait for the utility company to restore power. He called a solar installer instead.

“Diesel was eating us alive. The grid gives us maybe five hours a day if we’re lucky,” said Okafor, whose factory now runs almost entirely on a rooftop solar array paired with battery storage. “We haven’t looked back.”

His story is being replicated across Nigeria at a scale that is fundamentally redrawing the country’s energy map. Nigeria installed 803 megawatts of new solar capacity in 2025, a year-on-year surge of 141 percent, making it Africa’s second-largest solar market.

The driving force is not government ambition or climate policy; it is the chronic, grinding failure of the national grid.

Over the past decade, Nigeria’s power grid has suffered nearly 140 recorded malfunctions, with some areas receiving reliable electricity for only five to six hours per day. In the first two months of 2026 alone, the national grid collapsed twice. For households and businesses running Africa’s largest economy, patience has finally run out.

Off-grid installations, private mini-grids, solar home systems, and commercial rooftop arrays, account for roughly 1.15 gigawatts, or about 96 percent of Nigeria’s total installed solar capacity.

The Nigeria renewable energy and solar off-grid market is now valued at approximately $2.5 billion, driven by persistent grid unreliability, declining costs of solar and storage technologies, and surging private sector investment.

Key urban centers are leading the charge. Lagos, as the country’s commercial hub, has seen a surge in distributed solar installations, while Abuja’s policy environment and government-backed programs have fostered investment in renewable energy.

Battery storage is scaling even faster than the panels themselves. Installed battery capacity increased from around 10 megawatt-hours to 40.6 megawatt-hours in a single year, a rise of about 305 percent. Analysts note that those figures are likely understated because most projects are behind the meter and go untracked in official data.
Economics Tipping Against Diesel

The financial calculus has shifted decisively. Commercial and industrial users who adopt on-site renewables are achieving savings of 20 to 30 percent compared to diesel self-generation. With diesel costs running above $0.30 per kilowatt-hour, manufacturers in Lagos, Kano, and Port Harcourt are locking in 20-year power purchase agreements at fixed tariffs well below that threshold.

Nigeria’s extensive solar resource, delivering 4.5 to 6.5 kilowatt-hours per square meter per day, produces capacity factors 40 to 60 percent higher than those of many European sites, amplifying the economic case. Global module price declines have further compressed costs, bringing grid-parity economics to Nigeria’s sun-rich northern states.

Pay-as-you-go financing models are extending solar access to smaller firms and households, with payback periods now as short as three to five years.

Legislation is beginning to align with market realities. The 2023 Electricity Act decentralises market oversight and allows states to define their own feed-in tariffs tailored to local conditions, while seven-year tax holidays tilt project economics further in favor of renewables.

Nigeria’s renewable energy market is projected to grow from 3.13 gigawatts in 2024 to 5.01 gigawatts by 2029, at a compound annual growth rate of nearly 10 percent. More bullish forecasts place total installed capacity at 14.07 gigawatts by 2031, implying a compounded annual growth rate of more than 25 percent.

Nigeria already accounts for nearly 80 percent of West Africa’s solar additions. Under base-case projections, the wider region could add a cumulative 4.9 gigawatts between 2026 and 2029, cementing West Africa’s emergence as a major frontier solar market.

The rush off-grid carries a paradox. As wealthier households and businesses defect, the utility base that might fund grid repairs shrinks further, accelerating the very cycle of decline that drove them away in the first place.

The Nigerian government has announced an annual investment of $600 million in electricity subsidies between 2025 and 2027, aimed at bridging the gap between cost-reflective prices and regulated tariffs. Whether that is enough to reverse decades of underinvestment remains deeply uncertain.

By Oladehinde Oladipo, Business Day 

Gas Leaks Trigger Health Emergency in Bille Nigeria

Thousands of residents in Bille, a fishing community in Rivers State in Nigeria’s Niger Delta, are facing a serious health emergency. Since October 2025, methane gas has been bubbling up in nearby rivers, swamps, and drinking wells. As a result, the contamination threatens both water sources and public health.

In December 2025, the Nigerian government stated that it had conducted an investigation. However, authorities have not shared the findings with the community and have not taken action to stop the leaks.

Nigerian authorities must urgently complete a transparent investigation, stop the gas leaks, and take immediate steps to protect residents from further harm.


Gas leaks spread across Bille community

Residents first reported the gas leaks in October 2025, when fishermen noticed bubbling water and a strong sulphurous smell in nearby swamps and rivers. Within a week, more residents reported similar leaks at multiple locations, including inside the town. The leaks continue to this day.

As a result, many people believe their drinking water has been contaminated. Several residents have reported illness. In addition, some children became sick and started vomiting, forcing a school to relocate them for safety.


Lack of action and transparency

In December 2025, the National Oil Spill Detection and Response Agency carried out air quality tests at several sites. At one location, methane levels were recorded at 10,000 times higher than normal background levels. However, authorities have not published the full findings.

Despite the severity of the situation, the government has not taken effective steps to stop the leaks or protect public health. This lack of transparency and action continues to put residents at risk.


Environmental damage and government responsibility

Communities in the Niger Delta, including Bille, have long lived with pollution from oil operations. In many cases, oil companies have failed to properly clean up contaminated land. As a result, residents continue to face serious risks to their health and environment.

The Nigerian government has a duty to protect people from these harms, including those linked to private actors such as oil companies. Previous research has raised concerns about the condition of oil infrastructure and its impact on human rights, including the right to health and a safe environment.

Amnesty International has supported Bille and the nearby community of Ogale for more than a decade. Both communities have faced widespread environmental damage from oil spills, which destroyed livelihoods and left thousands without access to clean water. Their legal case against Shell is ongoing, with a trial expected in 2027.

At the same time, methane leaks contribute significantly to global warming. Therefore, the Nigerian government should also take steps to reduce reliance on fossil fuels and meet its international climate obligations.

Monday, March 23, 2026

Northern Nigeria on edge following series of attacks



A renewed wave of attacks in northern Nigeria, including suspected suicide bombings targeting crowded public places, has heightened tensions. At least 20 people have been killed and more than 100 others injured by militia in Borno State. The violence has also raised fresh security concerns ahead of Nigeria’s next general elections, with analysts warning it could depress voter turnout in the northeast, where displacement and fear remain widespread.

Galatasaray's Osimhen to buy Istanbulspor and build Nigeria-Türkiye talent pipeline


 








Galatasaray striker Victor Osimhen is reportedly planning to purchase Istanbulspor, one of Türkiye's historically established football clubs, in a move that signals the Nigerian forward's ambitions well beyond the pitch.

According to a report by Afrik-Foot, Osimhen's goal is not simply club ownership. The 26-year-old wants to establish what has been described as a "football bridge" between Nigeria and Türkiye, creating a structured pathway for young African talent to develop and eventually reach European football.


A pipeline from Lagos to Istanbul

Under the reported plan, Osimhen intends to open a football academy branch in Nigeria dedicated to scouting and developing young players from grassroots levels. Those players would then be funneled through Istanbulspor, using the Turkish club as a launchpad for eventual transfers into the broader European market.

The system Osimhen envisions would see young Nigerian footballers develop and gain experience before moving to Europe through Istanbulspor, effectively turning the club into a development hub with direct ties to West African talent.


Why Istanbulspor

Istanbulspor, founded in 1926, is one of Istanbul's oldest football institutions. The club has experienced significant fluctuations in its fortunes over the decades, competing at various levels of Turkish football. Its status as a historic but lower-profile club could make it an attractive acquisition for an investor looking to reshape a team's identity and sporting model without the financial burden associated with Türkiye's top-tier clubs.

The concept of active players investing in club ownership, while still uncommon, has gained traction in recent years across global football, as high-earning athletes increasingly look to leverage their wealth and industry knowledge into long-term business ventures within the sport.


Osimhen's prolific season continues

The reported acquisition plan comes during one of the most productive stretches of Osimhen's career. The Nigerian international has appeared in 29 matches across all competitions for Galatasaray in the 2025-26 season, scoring 19 goals and providing 7 assists.

Osimhen originally rose to prominence in European football through spells in Belgium, Germany, France, and most notably Italy, where he became one of Serie A's most feared strikers during his time at Napoli. His move to Türkiye has done nothing to diminish his output, and his off-pitch ventures suggest he is already thinking about life after playing.

Türkiye Today

US drones deployed to Nigeria alongside troops for intelligence, training

The U.S. military has multiple MQ-9 drones operating in Nigeria alongside 200 troops to provide training and intelligence support to the military, which is fighting Islamist militants across the north, U.S. and Nigerian officials told Reuters.

The troops are not integrated within Nigerian units on the frontline and the drones are collecting intelligence and not carrying out airstrikes, officials from the two countries said.

However, the U.S. deployment, which follows U.S. airstrikes targeting militants in northwest Nigeria in late 2025, shows the U.S. getting back involved in tackling Islamic State and al Qaeda-linked insurgencies that are spreading across West Africa.

The U.S. military previously had a $100 million drone base in neighbouring Niger with about 1,000 troops monitoring militants across the Sahel region, but that was closed in 2024 after the Niger junta requested their departure, part of a broader rejection of western military support by countries in the Sahel region.

An assault by suicide bombers on a northeastern Nigerian garrison town this week showed how a 17-year insurgency there can still strike urban centres.

Meanwhile, militants have stepped up their attacks in the northwest, near the border with Benin and Niger, where a long-running banditry crisis risks mutating into another operating zone for Islamists.

A U.S. defence official said the drones had been deployed alongside troops at the request of the Nigerians to collect intelligence. “We see this as a shared security threat,” the official said.

Major General Samaila Uba, director of defence information at Nigeria’s Defence Headquarters, confirmed that the U.S. was operating assets from Bauchi airfield in the northeast.

“This support builds on the newly established U.S.-Nigeria intelligence fusion cell, which continues to deliver actionable intelligence to our field commanders,” he told Reuters. “Our U.S. partners remain in a strictly non-combat role, enabling operations led by Nigerian authorities.”


‘IDENTIFY, TRACK AND RESPOND’

Uba said the timeline for the U.S. deployment in Nigeria would be determined in agreement by both sides.

MQ-9 drones, which are sometimes known as Reaper drones and can loiter at high altitude for more than 27 hours, can be used for both intelligence gathering and airstrikes.

Neither Uba nor the U.S. official would comment on specific cases where U.S. intelligence had led to the Nigerians targeting militants, but Uba said that U.S. forces were helping Nigeria “identify, track and respond to terrorist threats”.

Late last year, Reuters reported that aircraft based in Ghana had been conducting intelligence gathering flights for the U.S. military over Nigeria.


MILITANTS REMAIN A PERSISTENT THREAT

The United States – which has had a long partnership with Nigeria’s military, providing training and selling weapons – said it carried out airstrikes in the northwest on Christmas Day to stop the targeting of Christians in the region.

Nigeria’s government and experts on the conflict have rejected claims of a concerted anti-Christian campaign, saying it oversimplifies a complex crisis.

It was not immediately clear who carried out the March 16 attack on the garrison town.

Uba said it was still being investigated, adding that both Boko Haram militants and ISWAP, an Islamic State-allied faction, remain a persistent threat, adapting their tactics over time.

“We continue to assess that these organisations will seek opportunistic targets and may attempt to demonstrate relevance through high-visibility attacks,” he said.

By David Lewis, Reuters

Nigeria says it has pulled in $2.6 billion into mining as it seeks US backing to make Africa a global critical minerals hub

Nigeria has attracted more than $2.6 billion in foreign direct investment into its mining sector over the past two years, as the government steps up reforms and seeks to position the country as a key player in the global supply chain for critical minerals.

The Minister of Solid Minerals Development, Dele Alake, disclosed this during a panel session at the Powering Africa Summit in Washington, D.C., where policymakers and investors discussed Africa’s role in meeting rising global demand for minerals used in electric vehicles, batteries and renewable energy technologies.

Speaking on the panel titled “Critical Minerals in Africa: Meeting Global Demand,” Alake said recent reforms in Nigeria’s mining sector, including digitised licensing, improved regulation and tighter security, had helped restore investor confidence and attract new capital.

He said the government has also moved to tackle illegal mining through a special enforcement unit known as the Mining Marshals, which has arrested more than 350 suspects in the past year, with over 150 cases already in court.

“We have successfully de-risked and sanitised the mining environment, making it conducive to foreign direct investment,” Alake said.


Push for regional energy and mining corridors

Beyond domestic reforms, Nigeria is pushing for broader African cooperation to strengthen the continent’s role in global mineral supply chains.

Alake urged the United States and African governments to support the development of regional energy hubs and industrial corridors to power cross-border mining operations and local processing.

He pointed to existing infrastructure initiatives such as the Lobito Corridor as models that could be replicated across the continent.

Similar corridors, he said, could be developed along the Lagos–Abidjan Corridor in West Africa and the Walvis Bay Corridor in Southern Africa to support mining, manufacturing and regional trade.

According to him, shared energy infrastructure, including large-scale power projects, could support multiple countries within a corridor, reducing costs and encouraging local mineral processing rather than exporting raw materials.

“If three to five such corridors are developed in Africa, we would significantly advance industrialisation across the continent, creating a win-win outcome for both Africa and the West,” he said.


Reforms aimed at diversifying Nigeria’s economy

Nigeria has long relied on oil for government revenue, but the sector’s volatility and declining production have pushed authorities to accelerate efforts to diversify the economy.

Mining, which contributes less than one per cent to GDP, has been identified as a priority sector due to Nigeria’s deposits of lithium, gold, tin and other critical minerals.

Alake said reforms introduced over the past two and a half years now guarantee secure tenure for mining licences, a key demand from investors who require long-term stability before committing capital to exploration and processing projects.

To further attract investment, the government is offering tax waivers on imported mining equipment, allowing full repatriation of profits after taxes and royalties, and expanding access to certified geological data to reduce exploration risk.


U.S. lenders signal interest, but warn on stability

At the same event, Sarah Whitten of the Export-Import Bank of the United States said American financial institutions are willing to support mining projects in Africa, particularly those linked to the energy transition, but stressed that political stability and consistent policies remain critical.

“American banks are ready to support projects, but our role is to catalyse and unlock private sector capital,” she said.

The discussion also included government officials and executives from mining investment firms and technology companies, reflecting growing international competition for access to Africa’s mineral resources as countries race to secure materials needed for clean-energy technologies.

By Ayodeji Adegboyega, Business Insider Africa

Alleged ‘Fake Prince’ Arrested in Nigeria as Another Apparent Victim of the Romance Scam Comes Forward

Within a week of the release of an OCCRP documentary exposing an online fraud operation, Nigerian authorities arrested a man allegedly involved in the scheme, while another apparent victim of the same scam came forward in Romania.

In last month's documentary, Exposed: Fake ‘Dubai Prince’ Tracked to Nigeria, reporters identified Nzube Henry Ikeji, 31, who was afterwards taken into custody. Charges have not been filed, a spokesman for Nigeria’s Economic and Financial Crime Commission told OCCRP.

Ikeji’s arrest came nearly a week after the video revealed how he allegedly posed as the real-life Crown Prince of Dubai, cultivating a romance that defrauded $2.5 million from Laura, a Romanian businesswoman.

A second apparent victim of the scam came forward to OCCRP's Romanian member center Context.ro after watching the documentary. Ana, who is also Romanian, presented Context.ro with documents indicating she was targeted by the same operation that left Laura in debt.

Both women were first contacted on LinkedIn by someone posing as the Crown Prince of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, and claiming to represent a humanitarian foundation affiliated with the royal family of the United Arab Emirates.

Communications provided by the women show that Ana first heard from the fake prince in October 2022, while he reached out to Laura a month later. Both were offered and accepted “an official vip humanitarian membership permit” for the sum of 7,748 UAE dirhams, which was paid out as 1,850 euros ($2,112).

It is common for romance scammers to impersonate the Crown Prince of Dubai in a variation of the classic romance scam, which involves an impersonator cultivating an online relationship with a victim with the goal of milking them for as much money as possible before they realize they’ve been swindled.

In the case of both Laura and Ana, identical email addresses with similar messages and fake royal membership cards were used, indicating they were victims of the same group of scammers. Laura is a first name and Ana is pseudonym, as both victims wish to remain anonymous out of embarrassment.

Ikeji could not be reached for comment on the latest allegations involving Ana. An email bounced back undelivered, while his previous lawyers did not respond to a request for comment. Message to his WhatsApp did not deliver. He previously told reporters that he did not scam Laura or anyone else, and alleged that OCCRP’s documentary was a “targeted plan” to destroy his reputation.

The woman whom Context.ro identifies as Ana said she was invited by the fake prince to apply for a job at Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), the humanitarian foundation launched by the actual crown prince’s father and ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum. Laura, meanwhile, was asked by a fake prince to help MBRGI invest millions of dollars in humanitarian aid in Romania.

Neither of the opportunities were real. After they paid 1,850 euros for “official vip humanitarian membership permit” cards, both received messages saying their cards had been granted, but required another payment to be activated. Ana paid another 10,550 euros ($12,045), while Laura paid 12,550 euros ($14,328).

A fake prince had earlier steered their communications to Skype and later to WhatsApp, where he cultivated romances with them.

He told Ana that he wanted to visit her in Romania, but it would require Ana transferring 42,000 euros ($47,951). When Ana refused to send more money that she did not have, the fake prince texted her: “Now you’ve lost me and the 13,000 euros you have paid.”

While Ana stopped at that point, Laura continued deeper into the scam, exchanging thousands of messages over two years with the fake prince and even meeting his “financial manager” in London to facilitate opening a bank account.

By Marionela Toma, OCCRP


Nigerian man handed 76-year sentence in sextortion of B.C. boy

Friday, March 20, 2026

Nigeria’s president meets King Charles during historic UK visit



Nigerian President Bola Tinubu was welcomed by King Charles at Windsor Castle during a historic visit, the first by a Nigerian leader in nearly four decades. Tinubu is expected to sign agreements on trade, investment and defence with the UK, as citizens hope the visit will help address economic reforms and security challenges at home.

Nigerian army says 80 militants killed

Nigerian soldiers killed at least 80 suspected militants near a military base in the northeastern Borno state, the country's army said on Wednesday.

Backed by air support, the Nigerian military said it repelled a coordinated overnight assault by insurgents of an unclear affiliation near the Niger border.
Attack comes on heels of suicide bombings

Wednesday's attack follows escalating jihadi violence in the conflict-battered state by Boko Haram and its rival offshoot Islamic State West Africa Province. Earlier this week, three suspected suicide bombings killed at least 23 people and wounded more than 100 others in Borno's capital, Maiduguri.

While no group claimed responsibility for the bombings in the city of around 1.2 million people, officials' suspicion fell on Boko Haram. The jihadi group launched an insurgency 17 years ago in northeastern Nigeria with a radical interpretation of Sharia law.

On Wednesday, Nigerian army spokesman Sani Uba described the military's attack as an "offensive-defensive" ​response.

Authorities added that "no fewer than 80 terrorists" were killed, including "high-profile" commanders.

International media have not been able to independently verify these claims.

Since its insurgency in 2009, Boko Haram has killed more than 40,000 and displaced around 2 million people, according to figures by the United Nations.

By Sean Sinico, DW

Nigeria records one of highest global fuel price increases as Iran conflict disrupts oil markets

Nigeria has emerged as one of the hardest-hit countries in the global fuel price rally triggered by the ongoing tensions involving the United States, Iran, and Israel, despite being one of Africa’s largest oil producers and home to the continent’s biggest refinery.

Data from Investorsight shows that gasoline prices in Nigeria have risen by 39.5%, placing it second globally just behind Vietnam, highlighting deep structural challenges in the country’s downstream oil sector.

Oil remains the world’s most critical energy resource, powering roughly 70% of global demand and underpinning industries from transportation to agriculture.

As geopolitical tensions disrupt supply chains and threaten key shipping routes, the resulting price shocks are being felt unevenly across countries, with import-dependent economies and those with fragile refining systems bearing the brunt.


Nigeria fuel prices surge amid global oil shock

Fuel prices in Nigeria have risen sharply since the outbreak of the Iran war, highlighting the country’s exposure to global oil shocks.

At the refinery level, Dangote Refinery increased ex-depot prices from about ₦774 to ₦874 per litre in early March, a roughly 13% jump with retail prices climbing to ₦1,075–₦1,175 per litre in some areas.

Meanwhile, NNPC Limited recorded steeper increases, with pump prices rising from ₦900–₦1,000 to ₦1,200–₦1,400 per litre across major cities reflecting a 30–40% surge.

Overall, Nigeria’s average petrol price has increased by nearly 40%, reflecting how quickly global disruptions are transmitted into the domestic market.

With fuel pricing now deregulated, both refinery and retail prices respond rapidly to shifts in crude oil prices, exchange rates, and supply risks, leaving even an oil-producing nation highly vulnerable to external shocks.

The sharp increase in Nigeria’s fuel prices reflects a paradox that has long defined its energy sector. Despite being a major crude oil exporter, the country has historically relied on imported refined petroleum products due to underperforming state-owned refineries.

Even with the operational ramp-up of the Dangote Refinery (Africa’s largest) Nigeria is still navigating a transitional phase. The refinery has yet to fully stabilize domestic supply or eliminate dependence on imports, leaving local prices exposed to global market shocks.

Additionally, the full deregulation of Nigeria’s downstream sector has linked domestic fuel prices more directly to international crude benchmarks.

This means that any geopolitical disruption such as tensions in the Middle East affecting oil transit routes like the Strait of Hormuz quickly translates into higher pump prices locally.

Currency pressures have also amplified the impact. The depreciation of the naira increases the cost of importing refined products and crude feedstock, further pushing up retail fuel prices.

In contrast, some developed economies on the list have strategic reserves, diversified energy mixes, or subsidy buffers that help cushion price volatility.

Nigeria’s high ranking, therefore, highlights not just global pressures, but persistent domestic vulnerabilities in refining, logistics, and foreign exchange stability.

By Solomon Ekanem, Business Insider Africa

UK agrees deal to ease migrant returns to Nigeria


 







The government has agreed a deal with Nigeria to make it easier to remove people with no right to be in the UK.

For the first time, the Nigerian government will recognise UK letters - an identification document issued to individuals without a valid passport - so people will no longer have to wait for emergency travel documents to be issued before they can be returned.

The agreement was struck during President Bola Ahmed Tinubu state visit to the UK.

Prime Minister Sir Keir Starmer hailed the president's visit - the first by a leader of a west African nation in 37 years - as "historic".

On Wednesday, the King hosted a spectacular state banquet at Windsor Castle for the president and first lady, praising the strength of the ties between the two nations.

President Tinubu also met the prime minister at No 10.

A Downing Street spokesperson said the two leaders "committed to deepening their long-term partnership on trade, infrastructure and sustainable growth".

They also agreed to work more closely together on defence and security in response to transnational crime and terrorism, the spokesperson said.

The Home Office said the immigration deal would make it easier to return people who overstay their visas, foreign criminals and failed asylum seekers.

It said annual returns to Nigeria had nearly doubled to 1,150.

The two countries have also agreed to launch joint operations and share information to crack down on criminal gangs abusing visa routes.

A new standardised document-checking system will be introduced to verify the authenticity of applications.

The Home Office said it followed a series of high-profile cases involving fake job sponsorships, sham marriages and forged financial or employment records.

Meanwhile, Nigeria will review its laws to ensure the toughest possible sentences are given to immigration offenders.

Border Security and Asylum Minister Alex Norris said: "Nigeria is a key partner in our work to tackle illegal migration, as the UK's largest African visa market and home to thousands of Nigerians who have built their lives here."

A separate deal, worth £746m, will see two major ports in Lagos refurbished with the help of UK-backed loans.

UK Export Finance (UKEF), the UK government's export credit agency, has provided a guarantee to the banks loaning the funds under the condition at least 20% of the contracts are sourced from the UK.

At least £236m of supplier contracts will be directed to British firms, including £70m for British steel - the company's largest ever export backed by UKEF.

It comes as the UK sets out a new strategy to boost the domestic steel industry.

Tinubu's visit was also the first to the UK by a Muslim leader during Ramadan in almost a century.

Special adaptations were made to the state banquet, with a prayer room set aside in Windsor Castle, while the usual lunch hosted by the King did not take place as Tinubu was fasting.

On Thursday, First Lady Oluremi Tinubu, who is Christian, also visited Lambeth Palace, the London home of the archbishop of Canterbury.

The visit comes at a time of tension within Nigeria, with a series of suspected suicide bombings this week in the north-eastern state of Borno, in which at least 23 people were killed and 108 injured in attacks blamed on hard-line Islamist militants from the Boko Haram group.

By Becky Morton, BBC

Thursday, March 19, 2026

Nigeria loses $21 million daily as oil output falls below OPEC target



Nigeria is losing an estimated $21 million daily as crude oil production remains below its 1.5 million barrels-per-day target set by the Organization of the Petroleum Exporting Countries (OPEC). Averaging 1.42–1.45 million barrels per day, the shortfall is straining the national budget and foreign exchange reserves despite crude prices above $100 per barrel.

Nigeria strengthens security after Maiduguri bombings



Nigeria is on high alert after suicide bombings in Maiduguri killed at least 23 people and injured more than 100 on Monday evening. Authorities have deployed additional troops, with Boko Haram insurgents suspected to have carried out the attack, though no group has claimed responsibility.


Africa’s largest refinery drives $3.74 billion crude imports into Nigeria

Nigeria's oil trade dynamics shifted dramatically in 2025, with crude imports related to the Dangote Refinery reaching $3.74 billion, an unexpected event for a country famed for its crude exports.

This data was contained in the latest Balance of Payments report of the West African country’s central bank, which cited the refinery's crude oil acquisitions as a significant factor influencing the nation's current account.

Per the report, Nigeria's current account surplus was $14.04 billion in 2025.

While this represents a drop from the $19.03 billion posted in 2024, it remains a substantial improvement compared to the $6.42 billion surplus recorded in 2023.

The reduction from the previous year was attributed in part to changing oil trading patterns, particularly the importation of crude for domestic processing, linked to the world’s largest single-train refinery.

Export numbers reflect this transition, with crude oil shipments declining to $31.54 billion in 2025 from $36.85 billion in 2024, a 14 percent decrease.

Despite this dip, Nigeria's goods account improved, with a surplus of $14.51 billion, up from $13.17 billion in 2024.

This surge was primarily driven by activities related to the Dangote refinery, as well as improved performance in other export areas, as seen in the Punch.

The export of refined petroleum products was a major highlight, bringing in $5.85 billion for the year. Increased gas exports also contributed to the improving trade position.

At the same time, the refinery's operations seem to be changing Nigeria's import profile. With more locally refined fuel available, the country's reliance on imported petroleum products has decreased dramatically.

Fuel imports fell drastically to $10 billion in 2025, down from $14.06 billion the year before, an almost 29 percent decrease.

However, this development was partially offset by an increase in non-oil imports, which rose to $29.24 billion from $25.74 billion in 2024, indicating sustained demand for foreign goods.

The central bank's report further highlighted a rise in investment outflows, as Nigerians raised their holdings in both direct and portfolio investments abroad this past year.

Overall, Nigeria's balance of payments remained favorable, with a surplus of $4.23 billion in 2025. Though this sum is lower than the $6.83 billion reported in 2024, it still represents a rather stable external position.

Meanwhile, the country's external reserves expanded, reaching $45.75 billion at the end of December 2025. This marks a 13.83 percent gain year on year, aided by increased inflows and improved external buffers.

By Chinedu Okafor, Business Insider Africa

President Tinubu meets royals in UK state visit


 









The UK’s King Charles III has welcomed Nigerian President Bola Tinubu at Windsor Castle in the first state visit by the leader of Africa’s most populous nation in nearly four decades.

More than 1,000 soldiers were out in force on Wednesday for the diplomatic show of soft power by the royal family.

With trade between the two countries at a record high, Charles is using the two-day visit to highlight the pair’s deep cultural and commercial links.

Tinubu has made less formal visits to the United Kingdom several times during his tenure, and the two countries remain major partners in trade, aid and defence. London is also home to a large Nigerian diaspora of about 300,000 people.

Nigeria’s presidency said the visit signalled a “renewed chapter” and reflected a shared commitment to “advancing trade and strengthening diplomatic ties”.

Calling the visit “historic”, London announced Nigerian companies, including banks, are expanding operations and creating hundreds of jobs in the UK, strengthening it as a global hub for African business.


Nigerian flags and Union Jacks

King Charles and Queen Camilla greeted the president and his wife in Windsor, west of London, as artillery fired salutes.

Both Nigerian flags and Union Jacks fluttered amid the procession.

The Nigerian president and his wife earlier chatted with heir-to-the-throne Prince William and his wife Catherine, at a hotel in the town.

The party then rode in carriages to the historic Windsor Castle.

Later, the king and queen showed the president and first lady items from the UK’s colonial rule of Nigeria, which existed until 1960.

Later on Wednesday evening, a lavish state banquet took place.

On Thursday, Tinubu is expected to meet British Prime Minister Keir Starmer, as well as members of the Nigerian community abroad, according to the official schedule.

Missing from the official schedule is the traditional meeting between the visiting head of state and the British opposition.

Conservative Party leader Kemi Badenoch, who is of Nigerian descent, has repeatedly publicly criticised the country she was raised in over corruption and violence.

The last Nigerian state visit to the UK took place in 1989, although Tinubu was received by Charles in September 2024.

Before the death of his mother, Queen Elizabeth II, in 2022, Charles also visited Nigeria four times as prince of Wales.

Tinubu’s visit went ahead, despite a deadly bombing in northeastern Nigeria’s Borno State on Monday, which killed 23 people and injured more than 100, with the president condemning the attacks and insisting “Nigeria will not succumb to fear.”

By AFP and Reuters