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Tag: Middle East

Business featured

Middle East crisis threatens Nigeria’s manufacturing sector, MAN warns

The Manufacturers Association of Nigeria has expressed concern over the potential impact of the escalating military confrontations in the Middle East on the country’s manufacturing sector as possible disruptions to global shipping routes, volatile energy markets, and supply chain bottlenecks. MAN noted, “its vigilance regarding the escalating military tensions involving the United States, Israel, and […]

Opinion

Middle East war could fetch Nigeria ₦30trn oil windfall — NESG

The Nigerian Economic Summit Group has projected that Nigeria could earn as much as N30 trillion in additional oil revenue if global crude prices remain elevated due to escalating geopolitical tensions in the Middle East. In a policy brief titled “Boom, Not Gloom,” the private sector policy advocacy group noted that the recent conflict involving […]

Economy featured

Nigeria’s economy strong against Middle Eastern tensions — Cardoso

Central Bank Governor Olayemi Cardoso has assured that Nigeria’s ongoing macroeconomic reforms have fortified the economy against potential shocks from escalating Middle East tensions. He made this declaration while delivering the Distinguished Alumni Lecture at the Founders Day celebration of St Gregory’s College in Lagos on Thursday. Cardoso highlighted that the global economy is grappling […]

Aviation

Middle East tourism disruptions cost $600m daily – WTTC

Travel disruptions across the Middle East are driving major economic losses, with international visitor spending declining by an estimated $600 million per day. The World Travel & Tourism Council disclosed this in a statement on Wednesday, attributing the disruptions to rising regional tensions. The ongoing conflict involving Israel, the United States, and Iran has disrupted […]

Oil and Gas

UAE’s giant refinery shut over Middle East war

One of the world’s largest refineries, the Ruwais facility in the UAE, has been shut down as a precautionary measure following a nearby drone attack that sparked a fire in the industrial complex. A source familiar with the situation stated: “The Ruwais refinery has halted operations out of precaution,” while requesting anonymity due to the […]

Price of of cooking gas rose by 13.75% in May 2024
featured Oil and Gas

Cooking gas price jumps ₦100/kg amid Middle East crisis

Depot owners across Nigeria have raised the price of liquefied petroleum gas, commonly known as cooking gas, by an average of N100 per kilogram. The increase stems from geopolitical turmoil in the Middle East that has disrupted global energy markets and directly affected Nigerian households. According to BusinessDay, Nipco Plc, one of Nigeria’s largest LPG […]

News

Amazon data centres hit by drones in Middle East amid war

Tech giant Amazon said late Monday that two of its data centers in the United Arab Emirates were “directly struck” by drones, disrupting cloud services in parts of the Middle East. A facility in Bahrain was also damaged by “a drone strike in close proximity”, the provider said in an update to its service updates […]

Technology

Africa, Middle East lag behind in business AI adoption — W’Bank

Artificial intelligence adoption among businesses remains lowest in Sub-Saharan Africa and the Middle East, highlighting a widening digital divide across emerging regions, according to a new World Bank survey. The survey, conducted in June 2025, covered more than 2,200 companies across over 85 countries backed by the World Bank Group’s private-sector arm or by private […]

Aviation

Air France resumes Dubai flights amid Middle East tensions

Air France resumed its Dubai service on Saturday after temporarily suspending it the previous day due to the geopolitical situation in the Middle East, the airline said. United States President Donald Trump has repeatedly threatened strikes on Iran over the crackdown on the protest movement that recently erupted across the Islamic republic. The French airline […]

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