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Lagos, June30, 2029 – The Nigerian currency, Naira, depreciated further to N1,383.6262 to the dollar at the official foreign exchange market on Monday. The naira exchange rate has been sliding at the market in the last few trading days. The exchange rate, which was N1,380.0775 to the dollar on Friday, was N1,370.6373 to the dollar on Thursday last week.   Bid rates offered by dealers at the market on Monday ranged from N1,377.50 to N1,390 to the dollar. Meanwhile, the naira is being exchanged at the black market in Lagos …

Singapore, June 30, 2026 – Oil prices ‌dipped on Tuesday and were poised for a monthly decline, with investors eyeing potential U.S.-Iran talks in Doha amid a strained interim ceasefire in the four-month-old war. Brent August crude futures, which expire on Tuesday, were down 0.9%, or 64 cents, at $72.51 a barrel as ​of 0356 GMT. These levels are around $20, or 22%, lower than last month’s closing. The more actively ​traded September contract was down 0.4%, or 31 cents, at $73.6 a barrel. U.S. West Texas Intermediate ⁠for August …

Lagos, June 26, 2026 – Fidelity Bank Plc has again reinforced its leadership in small and medium-scale business banking as it emerged the winner of the Development Bank of Nigeria (DBN) Service Ambassadors Award for the Highest Impact on MSMEs Accessing Credit for the First Time. The award recognises commercial banks that has successfully onboarded previously unbanked or credit excluded Micro, Small and Medium Enterprises across Nigeria, reflecting Fidelity Bank’s sustained commitment to deepening financial inclusion, improving access to credit and supporting enterprise growth. Speaking on the recognition, Divisional Head, …

Lagos, June 29, 2026 – The Centre for the Promotion of Private Enterprise (CPPE), a private think tank, has advised the federal government to revive the local textile sector, rather than ban import of textile fabrics. The CPPE made the call on Monday in a statement signed by its Chief Executive, Dr Muda Yusuf. It said the Senate’s resolution calling for a ban on importation of textile fabric is unlikely to achieve its intended objectives and could have significant adverse consequences for the Nigerian economy. “While the objective of reviving …

Washington, June 26, 2026 – US President Donald Trump said that Iran has requested a meeting that will be held in the Gulf state of Qatar on Tuesday, despite an earlier denial from Tehran that talks were planned. “IRAN HAS REQUESTED A MEETING. IT WILL TAKE PLACE TOMORROW IN DOHA!” Trump posted on his Truth Social platform on Monday. Iran’s foreign ministry on Monday denied reports that Iranian and American technical teams will meet this week to discuss the implementation of the deal to end the Middle East war.   (AFP)

Lagos, June 26, 2026 – The Dangote Petroleum Refinery is importing two cargoes of crude oil from the United Arab Emirates. This is the first time the refinery is importing crude from the Middle East. According to S&P Global Commodity Insights, the cargoes are expected to arrive in Nigeria in the coming weeks. Before now, the refinery has depended mostly on Nigeria and United States for its crude imports. The Nigerian National Petroleum Company Limited (NNPC) was supplying over 70 percent of Dangote Refinery’s crude oil needs under the naira-for-crude …

Lagos, June 29, 2026 – Dr. Odunayo Ani, the President of the Women’s International Shipping and Trading Association (WISTA) Nigeria, has called for stronger collaboration among stakeholders in Africa to ensure sustainable growth of the sector. She also called for policies that could make Africa’s maritime and Blue Economy translate into measurable outcomes that promote inclusive growth, enhanced trade and sustainable development. Ani made the call at the 8th WISTA Africa Regional Conference, hosted by WISTA Nigeria in Lagos with the theme, “From Policy to Progress: Women Delivering Africa’s Shipping and Trade Energy Future.”  …

Tehran, June 29, 2026 – Commercial traffic through the Strait of Hormuz persisted at a reduced level after attacks on two ships raised fresh concerns about the ability and willingness of shipowners to traverse the waterway. A handful of vessels made open transits over the weekend, according to tracking data. Among them, two very large crude carriers made their way into the Persian Gulf without cargoes, while a French-flagged container ship and two laden oil tankers left the inland sea, the data show. Despite the drop in observed transits at …

Mecca, June 29, 2026 – A helicopter belonging to Saudi ​oil giant Aramco crashed on Sunday ‌in Ras Tanura on Saudi Arabia’s eastern coast on the Gulf, west of the Strait of ​Hormuz, killing 14 nationals, the state ​news agency reported, adding that the ⁠cause was unknown. Aramco had resumed crude oil loadings on Friday at its Ras Tanura terminal ​in the Gulf after they were halted for nearly four months. “The relevant authorities have launched a ​full investigation to determine the cause ​of the crash,” the state news agency …

……to sanction profiteers  Abuja, June 29, 2026 – The Federal Competition and Consumer Protection Commission (FCCPC) has expressed concern over undue exploitation in the local oil market. It said it had discovered undue exploitation of consumers from an ongoing surveillance of the downstream petroleum market. FCCPC said in a statement on Sunday, that a review of the gantry prices of local refiners, marketers, depot operators and retail outlet operators revealed token reductions in prices that are not commensurate with the steep fall in crude prices in the global market.  Reacting …