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Dubai, May 8, 2026 -The U.S. military said it intercepted Iranian attacks Thursday on three Navy ships in the Strait of Hormuz and “targeted Iranian military facilities responsible for attacking U.S. forces,” highlighting the fragility of the month-old ceasefire between the two countries. U.S. Central Command said in a social media post that U.S. forces intercepted “unprovoked Iranian attacks” and responded with self-defense strikes. The U.S. military said no ships were hit. It said it doesn’t seek escalation but “remains positioned and ready to protect American forces.” President Donald Trump told …

Lagos, May 7, 2026 -Nigeria is the most spammed country in Africa. In 2025, 51% of all unknown calls received by Nigerians were identified as spam or fraud, more than one in every two. Nigeria ranks 8th globally and sits at the top of the African league table, ahead of South Africa (30%), Kenya (around 15%), Ghana (around 11%), and Ethiopia (around 9%). The data is drawn from Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, with over 500 million users worldwide. What makes Nigeria’s story …

London, May 7, 2026 – Oil fell after losing nearly 8% in the previous session, as the US and Iran weighed a fresh push to end the war in the Middle East. Brent sank toward $99 a barrel, while West Texas Intermediate was near $93. Washington has presented a one-page memorandum of understanding that will potentially lead to the gradual reopening of the Strait of Hormuz, a person familiar with the matter said. Iran is expected to respond in coming days. Global energy markets have been upended by the war, …

  By Ron Bouss London, May 7, 2026 – U.S. fuel markets are flashing warning signs. President Donald Trump has repeatedly argued that gasoline prices will “drop like a rock” once the Iran conflict ends. Yet the sharp and persistent drawdowns in U.S. stocks of crude, gasoline and diesel in recent months suggest otherwise. And the risk extends far beyond sticker shock at the ​pump. More than 13 million barrels per day (bpd) of crude oil and refined fuels were knocked out of the market after the Strait of Hormuz was …

Tokyo, May 7, 2026 – Oil prices ​rose over $1 on Thursday, rebounding from the previous day’s sharp losses, as investors weighed the prospects of a ‌Middle East peace deal succeeding. Brent crude futures were up 54 cents, or 0.5%, at $101.81 a barrel at 0615 GMT. U.S. West Texas Intermediate gained 45 cents, or 0.5%, to $95.53 a barrel. Both benchmarks slumped more than 7% on Wednesday, hitting two-week lows on optimism over a possible end to the Middle East war. They pared losses, ​however, after U.S. President Donald Trump …

Lagos, May 6, 2026 – Dangote Refinery has increased its ex-dept petrol price to N1,350 per litre from N1,275 per litre. The new price, reflecting a N75 per litre increase, is already being implemented by petrol stations across Lagos.   A credible source in the company confirmed the price adjustment, which he said, had been effected across all the company’s loading channels. It said the price adjustment was in reality with the developments in the global oil market, explaining that  the company had been subsidizing its products for some time …

Lagos, May 6, 2026 – Dangote Refinery has increased its ex-dept petrol price to N1,350 per litre from N1,275 per litre. The new price, reflecting a N75 per litre increase, is already being implemented by petrol stations across Lagos.   A credible source in the company confirmed the price adjustment, which he said, had been effected across all the company’s loading channels. It said the price adjustment was in reality with the developments in the global oil market, explaining that  the company had been subsidizing its products for some time …

Lagos, May 6, 2026 – Union Bank of Nigeria has been named winner of the Best SME Growth Banking Initiatives Award (2025) at the Nigeria National SME Business Awards. The award was organised by the Association of Small Business Owners of Nigeria (ASBON) in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment. The recognition arrives at a moment when the relationship between Nigerian banks and Nigerian small businesses is being quietly redefined. Awards in this space have historically rewarded scale and product breadth. …

Abuja, May 6, 2026 – The federal government has approved a new salary structure and enhanced condition of service for workers of the Nigerian Meteorological Agency (NiMet). The approval was announced via a letter from the Office of the Secretary to the Government of the Federation (SGF) to the Chairman of National Salaries, Incomes and Wages Commission with reference No. 58957/S.2/T1/40 and dated April 29, 2026. The letter reads: “I am directed to refer to your letter Ref. No. SWC/S/04/S.227/T/52, dated 23rd March, 2026, on the above subject and to …

London, May 6, 2026 – Global crude inventories are shrinking at a rapid pace in the aftermath of the Middle East war, stoking warnings that oil prices could surge again ahead of the summer travel season. Supply losses have exceeded the hit from weaker demand, tightening the market despite higher prices. The Financial Times reported on May 6, citing S&P Global Commodity Insights data, that global crude inventories fell by about 200 million barrels last month, or 6.6 million barrels a day. Supply disruptions were larger than the roughly 5 …