Nigeria pumps below potential as world scrambles for oil
Nigeria is struggling to benefit from the global oil supply crisis caused by the prolonged closure of the Strait of Hormuz, which has disrupted over 11 million barrels of oil supply daily and driven crude prices sharply higher. Despite being a major Organization of the Petroleum Exporting Countries producer with premium crude grades, Nigeria continues to face production challenges linked to oil theft, pipeline vandalism, and weak infrastructure, limiting its ability to fill the global supply gap.
Energy analysts at Wood Mackenzie warn that prolonged disruption could push oil prices close to $200 per barrel, while accelerating the global shift away from fossil fuels. Although the Nigerian National Petroleum Company Limited has stepped up efforts to boost output and attract investment, experts say Nigeria risks missing a rare economic opportunity if it fails to rapidly improve production and supply reliability.
NDIC bolsters deposit fund buffers to shield banks from crises
https://businessday.ng/news/article/ndic-bolsters-deposit-fund-buffers-to-shield-banks-from-crises/
The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to strengthening its Deposit Insurance Funds (DIFs) to enhance the stability of Nigeria’s financial system and improve its response to banking crises without government intervention. Thompson Oludare Sunday, NDIC managing director, said the strategy enabled the Corporation to begin payments to depositors of Aso Savings & Loans and Union Savings & Loans within 72 hours after their licences were revoked in December 2025.
Speaking during a visit to the Budget Office of the Federation in Abuja, Sunday said the NDIC would continue collaborating with the office to support economic growth and the Federal Government’s one-trillion-dollar economy target by 2030. Budget Office director-general Tanimu Yakubu commended the NDIC’s transparency and urged it to adopt technology-driven investment strategies and global best practices to strengthen depositor protection and public confidence in the banking sector.
Meet Dumebi Kachikwu, the new flagbearer of the ADC
https://businessday.ng/news/article/meet-dumebi-kachikwu-the-new-flagbearer-of-the-adc/
Nigeria’s evolving political economy driven by private capital, media influence, and elite bargaining has opened space for entrepreneur-politicians ahead of the 2027 elections. Among them is Dumebi Kachikwu of Delta State, whose rise reflects the shift from ideology-based party politics to personality-driven political branding anchored on business networks and media visibility, including his connection to former minister Ibe Kachikwu.
He rose to national prominence as the African Democratic Congress (ADC) presidential candidate in 2023, campaigning on economic reform and governance efficiency through his platform, Roots Television Nigeria. His experience highlights both the growing visibility of media-backed political actors and the structural limits of smaller parties in Nigeria, where funding and patronage often outweigh reform-driven messaging.
Cooking gas hits N1,500/kg as marketers sound alarm over supply crisis
https://businessday.ng/news/article/cooking-gas-hits-n1500-kg-as-marketers-sound-alarm-over-supply-crisis/#:~:text=BusinessDay’s%20findings%20showed%20at%20N1,%2C%20represents%20several%20days’%20income.
Cooking gas prices in Nigeria have surged above N1,500 per kilogram, putting severe pressure on households and threatening the country’s clean energy progress. The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) warned that marketers now pay up to N26.2 million for a 20-tonne consignment, a cost that is being passed on to consumers. As a result, refilling a 12.5kg cylinder now costs about N18,750, making LPG unaffordable for many families, food vendors, and small businesses.
The association said supply shortages, logistics bottlenecks, and uneven distribution are driving the crisis, forcing some households to return to firewood and charcoal. It warned this trend could worsen health risks, inflation, and job losses while reversing years of progress in clean cooking adoption. NALPGAM urged government and industry stakeholders to boost supply and improve distribution urgently to stabilize prices.
NRC warns of looming train accidents amid rising track theft
https://businessday.ng/transport/article/nrc-warns-of-looming-train-accidents-amid-rising-track-theft/
The Nigerian Railway Corporation (NRC) has raised fresh alarm over rising cases of railway vandalism across the country, warning that continued destruction of rail infrastructure could trigger fatal train accidents, massive economic losses, and widespread disruption of transportation services. Managing Director of the NRC, Kayode Opeifa, issued the warning following recent attacks on railway facilities in Bauchi and Plateau states, describing the incidents as a serious threat to national security and public safety.
He revealed that the latest attack occurred in Zango, Bauchi State, where vandals removed railway slippers along a corridor between kilometres 878 and 889, leaving the tracks severely damaged and unsafe. Another incident was reported in Jos, Plateau State, where a truck loaded with suspected stolen railway materials got stuck between Kuru and Science School, exposing what the corporation described as an expanding criminal network targeting rail assets. Opeifa urged security agencies and communities to intensify surveillance and protect railway infrastructure, stressing that offenders would face the full force of the law.
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