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

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

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.

CGTN Africa

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.

WION

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