Brent crude prices drop to $71 as Saudi Aramco cuts prices
Global oil prices, tracked by Brent futures, have fallen to $71 per barrel, remaining below the $75 threshold after Saudi Arabia's state-owned oil giant, Aramco, implemented deeper-than-expected price cuts for…
Chappal Energies completes $1.2bn acquisition of Equinor Nigeria oil asset
Chappal Energies has successfully finalized the acquisition of Equinor Nigeria Energy Company, a subsidiary of Norway’s Equinor ASA. The deal, first announced in 2023, was completed on December 6, 2025,…
AI unlikely to transform daily life soon – Google CEO
Generative artificial intelligence likely won't bring major changes to daily life in 2025—at least, not beyond its current impact, according to Google CEO, Sundar Pichai. Speaking at the New York…
‘BRICS not interested in weakening US dollars’
India's Foreign Minister, Subrahmanyam Jaishankar, stated at an event in Doha, Qatar, on Saturday that BRICS countries have no intention of weakening the US dollar. This comment highlights the group's…
Port concession policy threatens local bonded terminals, Operators warn
The Association of Bonded Terminal Operators of Nigeria has raised concerns about the negative impact of the 2006 port concession policy on indigenous bonded terminal operations. ABTON's General Secretary, Haruna…
FG allocates ₦700bn for presidential metering initiative
The Federal Government has allocated ₦700 billion from the federation account for the Presidential Metering Initiative, according to the Special Adviser to the Minister of Power on Strategic Communications and…
Power sector: Gencos accuse senate of failing in oversight role
Power generation companies have criticized the Nigerian Senate, claiming that 99% of the failures in the country's power sector since the 2013 privatization are due to the lawmakers' neglect of…
NESG slams senate’s decision to suspend tax reform bills
The Nigerian Economic Summit Group has criticized the Senate's decision to suspend action on the tax reform bills, which have sparked widespread controversy across the country. The Chief Executive Officer…
Local rice prices surge by 137.32% – NBS
Local rice prices in Nigeria skyrocketed by 137.32% in October 2024 compared to the same period last year, according to the National Bureau of Statistics' Selected Food Prices report. This…
Nigerian fintech Moove partners Alphabet’s Waymo, enters US
Nigerian-born fintech startup, Moove has announced a strategic partnership with Waymo, Alphabet's self-driving vehicle division, to manage fleets of autonomous vehicles in Phoenix, Arizona, and Miami, Florida. The collaboration highlights…
Chevron cuts low-carbon investments by 25%
Chevron plans to invest $1.5 billion in emission-reduction and alternative energy projects in 2025, a decrease from $2 billion this year. The company aims to focus on investments that align…
Grid collapses: Senate blames failed power sector privatization
The Senate declared on Thursday that the 11-year-old privatisation of the power sector has failed, citing the continued lack of stable electricity supply nationwide. It warned that legislative measures to…
