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NDLEA arrests wanted notorious drug kinpin, Chidiebere after 13 years of hiding

Abuja, March 1, 2026 – The National Drug Law Enforcement Agency (NDLEA) has arrested Reginald Peter Chidiebere, a notorious and wanted drug kingpin, Reginald, after 13 years in hiding. The NDLEA disclosed this in a statement on  Sunday.. It said Chidiebere’s arrest followed the seizure of large consignments of cocaine and heroin linked to him at the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos. The statement said ‘the drug lord was first arrested in 2013 over the shipment of cocaine into Nigeria and was subsequently arraigned before Justice Ayokunle Faji …

Infringement of Nigerians’ Rights: SERA urges FG to investigate Google, Meta, Apple, Microsoft, X TikTok, Amazon, YouTube

Abuja, March 1, 2026 – The Socio-Economic Rights and Accountability Project (SERAP) has urged the federal government to investigate seven big media technology organsations for using opaque algorithms and market dominance to undermine Nigerian media, businesses, and citizens’ rights. It listed the affected organisations as Google, Meta (Facebook), Apple, Microsoft (Bing), X (formerly Twitter), TikTok, Amazon, and YouTube. SERAP made the complaint in a letter addressed to Tunji Bello, the Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC). The complaint, dated Feb. …

Ongoing US/Israel-Iran represents double-edged shock for Nigeria – expert

Lagos, March 1, 2026 – Dr Muda Yusuf, the Chief Executive of the Centre for the Promotion of Private Enterprise (CPPE), says the ongoing Iran–U.S.–Israel conflict represents a classic double-edged shock for Nigeria. He said while the higher oil prices arising from the crisis might strengthen Nigeria’s fiscal and external balances in the short term, its inflationary pressures, welfare deterioration, capital flow volatility, and global growth risks would pose significant countervailing threats. Yusuf made this observation on Sunday in a policy brief on the implications of the war on Nigeria …

US strikes in Iran could see oil prices jump $10 to $20 or more 

The US and Israel struck Iran early Saturday morning in what President Trump said was a bid to destroy the country’s nuclear program and potentially remove the current regime from power. The move triggered immediate retaliation and may provoke a wider conflict that poses serious risk for the oil markets. Trump said on Truth Social that the Supreme Leader of Iran, Ayatollah Ali Khamenei, had been killed, but did not provide further details. Futures on Brent crude, the international pricing benchmark, had jumped by roughly 2.9% to close above $72.80 on …

Why Nigeria must prioritize Blue Economy above all other Sectors

By Chika Chukwudi At a time when Nigeria is urgently seeking sustainable pathways to economic stability, poverty reduction, and mass job creation, it has become increasingly clear that the nation must rethink its development priorities. While agriculture, oil and gas, technology, and manufacturing all hold value, none offers the scale of untapped opportunity that lies within Nigeria’s blue economy and maritime sector. It is time for the Federal Government to invest more aggressively in the blue economy than any other sector; not as an experiment, but as a strategic national …

Oil tanker hit off Oman coast after drones strike Duqm port

Oman, March 1, 2026 – A Palau-flagged oil tanker was hit off Oman’s Musandam peninsula on Sunday injuring four people, the country’s maritime security centre said, following drone strikes on the Gulf country’s commercial port of Duqm. The incidents mark the first time targets in or near Oman have been hit following a wave of retaliatory strikes by Tehran on Gulf states after joint U.S.-Israeli attacks on Iran that have plunged the region into a new war. The 20-person crew of the Skylight tanker was evacuated after the attack, which …

OPEC+ debates oil output boost as US war on Iran disrupts shipments

London, March 1, 2026 – OPEC+ will consider a larger-than-expected oil output increase on Sunday, two OPEC+ sources said after the U.S.-Israeli war on OPEC+ member Iran and Tehran’s retaliation led to shipment disruptions in the Middle East. OPEC+ has a history of raising oil output to cushion disruptions but analysts said the group currently has very little spare capacity to meaningfully add to supply, except for its leader Saudi Arabia and the United Arab Emirates. Riyadh has been raising oil production and exports in recent weeks in preparation for U.S. strikes …

Oil prices rise 2% as US, Iran extend talks into next week

London, Feb 27, 2026 – Oil prices rose more than $1 on Friday as traders remained on alert for potential supply disruptions after the United States and Iran extended nuclear talks. Brent crude futures advanced by $1.38, or 1.95%, to $72.13 a barrel by 1110 GMT while U.S. West Texas Intermediate crude was up $1.40, or 2.15%, at $66.61. “Uncertainty prevails, fear is pushing prices higher today,” said Tamas Varga, an oil analyst at brokerage PVM. “It is completely driven by the outcome of the Iranian nuclear talks and possible …

Union Bank remains stable with resilient franchise, uninterrupted service delivery – Aluko

Lagos, Feb. 26, 2026 – Union Bank of Nigeria has reaffirmed its steadfast position in the course of ongoing regulatory engagements in response to recent media queries at the Central Bank of Nigeria’s (CBN) 304th Monetary Policy Committee (MPC) press briefing. The bank’s affirmation comes in the wake of Governor Olayemi Cardoso’s clarification on the regulatory framework governing institutions under intervention while speaking on the complexities and structural considerations influencing the recapitalisation timeline. According to the CBN Governor, institutions currently under regulatory oversight are subject to unique circumstances that necessitate …

Dangote signs off-take agreement with marketers to distribute 60-65m litres of petrol daily

Lagos, Feb. 25, 2026 – The Dangote Refinery and Petrochemicals has signed an off-take agreement with some marketers to supply between 60 and 65 million litres of petrol daily across the country, exceeding the daily local consumption. Under the agreement, the excess of between 15 and 20 million litres of petrol will be exported. “We have agreed an offtake framework to supply up to 65 million litres daily for the domestic market. Any surplus, estimated at between 15 and 20 million litres, will be exported,” the company said. Aliko Dangote, the …