GBN

London, June 8, 2026 – OPEC+ agreed on Sunday a fourth increase in its oil output targets in as many months, ‌even though the U.S. war with Iran is still preventing several of the group’s members from pumping more. The war has cut oil flows via the Strait of Hormuz, creating the world’s biggest-ever supply crisis as key OPEC+ members including Saudi Arabia have been unable to supply customers in full since the end of February. The crisis ​for OPEC+ deepened when the United Arab Emirates left the Organization of the …

Lagos, June, 7, 2026 -The Federal High Court sitting in Lagos has declared unlawful the National Assembly’s controversial N110 billion vehicle and allowance schemes. It ruled that spending N40 billion on 465 vehicles for lawmakers and N70 billion in support allowances for newly elected members breached procurement laws, constitutional obligations and the public trust. The court also ordered the Senate President, Mr Godswill Akpabio and Speaker of House of Representatives, Mr Tajudeen Abbas “to ensure that all future procurements or expenditure of public funds by the National Assembly comply strictly with due …

Abuja, June 7, 2026 – The National Drug Law Enforcement Agency (NDLEA) has intercepted a large consignment of opioids concealed in a truck conveying building materials from Onitsha to Jalingo. Femi Babafemi, the NDLEA Director of Media and Advocacy, disclosed this in a statement on Sunday. The statement said NDLEA operatives in Taraba intercepted the drugs following credible intelligence operation on Saturday at Nukkai Timber Shade in Jalingo. It said a thorough search of the truck led to the recovery of large quantities of drugs which included 320,840 capsules of …

As the world marks World Environment Day, the most consequential climate-finance decision Nigeria and much of West Africa can make is closer to home than Baku: how we choose to finance the land and the people who feed us. By Mannir U. Ringim (PhD) Lagos, June 7, 2026 – Long before the satellite forecasts and the seasonal advisories, the African farmer learned to read the sky. He watched the colour of the clouds, the behaviour of the birds, the first scent of rain on hot ground, and he planted accordingly. …

By Chidi Anselm Odinkalu Lagos, June 7, 2026 – When the FIFA World Cup finals kick off on June 11, Nigeria’s presence will be felt, but not as a competitor. Nigerian musician, Burna Boy, will headline the opening ceremony in a duet with Colombian superstar, Shakira, who will be performing at the opening of the global football fiesta for the second time. Her first was at the  2010 edition in South Africa. Despite their challenging trade and diplomatic relations, Canada, Mexico, and the United States will jointly host the competition. …

Lagos, June 3, 2026 – Union Bank of Nigeria’s Endless Possibilities campaign has won Bronze in the Heritage category at the 2026 Pitcher Awards, one of Africa’s foremost platforms for creative excellence.    The   campaign   was   also   shortlisted   in   the   Craft category for   Film   Craft, a recognition of the artistry and technical quality behind the work. These recognitions were awarded following adjudication alongside qualifying entries from across the African continent. The Heritage win carries a particular resonance. It recognises the bank’s ability to honour its rich heritage, while maintaining relevance with …

Washington, June 3, 2026 – The Trump administration is scrapping plans for a $1.8 billion fund that would have compensated allies of the Republican president, the Justice Department’s top official said Tuesday in retreating from a program that faced a fierce political backlash that had threatened to stall key elements of the White House agenda. “We are not moving forward with the fund, period,” Acting Attorney General Todd Blanche said in response to questions at a House hearing on the Justice Department budget. “Not moving forward ever?” asked Rep. Grace Meng, …

Lagos, June 3, 2026 -The Nigerian currency, the naira, appreciated at the official foreign exchange market on Tuesday with the NFEM rate N1,359.50 to the dollar. The naira exchange rate had closed at the segment at N1,360 to the dollar on Monday. Bid rates quoted by dealers at the market on Tuesday ranged between N1,365 and N1,374.9172 to the dollar. Meanwhile, the naira is being traded at the black market in Lagos at between N1,387 and N1,395 to the dollar

New York, June 3, 2026 – In a surprise move ahead of its investor roadshow, Elon Musk’s SpaceX plans to fix its IPO price at $135 per share to raise a record-setting $75 billion, according to a source familiar with the matter. The rocket and satellite communications ​company plans to sell 555.6 million shares, the source said. It is aiming for a valuation of $1.75 trillion, two other people said. The listing leads a wave of high-profile private companies preparing to test public ‌markets after years of muted large-cap IPO …

Singapore, June 3, 2026 – Oil prices rose on Wednesday, extending gains from the previous session, as hostilities in the Middle East erupted ​anew with Iran firing missiles at Kuwait and Bahrain, while diplomatic talks between ‌Iran and the U.S. showed little progress. Brent futures gained 81 cents, or 0.8%, to $96.81 a barrel at 0330 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 91 cents, or 1.0%, to $94.67. Both benchmarks settled at a ​one-week high in the previous session. Iran launched ballistic missiles toward regional neighbors Kuwait …