Category: Business
Dangote breaks ground on $17bn Kenya refinery
Dangote Industries Limited has commenced preliminary works on its proposed $17bn, 700,000-barrels-per-day refinery in Kenya, marking the first major step towards what is expected to become East Africa’s largest refining project. The company said the project has advanced beyond the planning stage, with the site already selected, soil tests ongoing and engineering and design work…
Tinubu, Afreximbank Discuss Strengthening Economic Cooperation Across Africa
The President stressed that Africa possessed enormous potential and must move beyond endless conversations about development to practical actions that drive industrial growth, expand trade, create jobs, add value, and improve the living standards of its people. Tinubu and Afreximbank Chairman of Board President Chairman, Dr George Elombi President Bola Tinubu on Tuesday urged the…
Naira Down To ₦1,379 Per Dollar
CBN data showed that the indicative exchange rate for the market rose slightly to N1,379 per dollar from N1,371 per dollar on Monday, indicating N8 depreciation for the naira. The naira Tuesday depreciated to N1,379 per dollar in the Nigerian Foreign Exchange Market (NFEM), according to data from the Central Bank of Nigeria (CBN). The…
Oil Jumps 5% After Trump Says Iran Ceasefire Over
International benchmark Brent North Sea crude jumped 5.3 per cent to $78.09 a barrel, while the main US contract, West Texas Intermediate, advanced 5.4 per cent to $74.23 a barrel. A graphic illustration of barrels of crude oil World oil prices soared more than five percent Wednesday after US President Donald Trump said the ceasefire…
AI Boom Drives Intangible Investment To Record Level — UN
Across the 29 economies studied, which account for 57 per cent of global GDP, intangible investment “reached an all-time high” of over $10 trillion in 2025, according to WIPO. UN Secretary-General Antonio Guterres delivers the opening speech of the first Global Dialogue on AI Governance, in Geneva on July 6, 2026. The AI boom has…
Oil Extends Rally As US Strikes On Iran Revive Geopolitical Fears
The sudden flare-up has stoked concerns about peace talks between the foes as they look to end their conflict and fully reopen the crucial waterway. A graphic illustration of barrels of crude oil Oil prices extended a surge on Wednesday as the Middle East crisis burst back into the spotlight with US forces launching fresh…
Oil Gains As Focus Shifts To Demand, Supply Recovery
Brent crude futures gained 85 cents, or 1.2%, to $72.84 a barrel, while U.S. West Texas Intermediate crude rose 74 cents, or 1.1%, to $69.29 a barrel as of 0645 GMT, after settling down at around pre-Iran war levels on Monday. A graphic illustration of barrels of crude oil Oil prices edged higher on Tuesday…
Naira To Dollar Exchange Rate Today, July 7, 2026
Foreign exchange analysts say the naira’s performance will continue to depend on dollar liquidity, inflows from oil exports, foreign portfolio investment, and the Central Bank of Nigeria’s interventions in the FX market. A man exchanges Nigeria’s currency Naira for US dollars in Lagos, Nigeria (Photo by PIUS UTOMI EKPEI – AFP) Data from the official…
Dangote Picks Kenya For East African Mega Refinery
It will take around 30 months to build the facility in East Africa’s largest economy. Initially, Tanzania was also one of the locations considered for the refinery. The Dangote Refinery in Nigeria was commissioned in May 2023. A 700,000-bpd East African oil refinery proposed by Africa’s richest man, Aliko Dangote, will be built in Kenya,…
Underutilised Capacity, Funding Gaps Threaten Nigeria’s 3mbpd Oil Targets – PETAN President
It argued that achieving the country’s production targets will depend largely on scaling up drilling activities across onshore, shallow water, and offshore assets, as well as ensuring sustained capital inflow into the sector. PETAN The President of the Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya has cautioned that underutilised in-country capacity, limited drilling…
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Opeyemi Precious
Precious Opeyemi is an independent media entrepreneur, journalist, and the founder of Scoop Lounge. Driven by a commitment to credible, balanced, and high-impact journalism, she established the platform to deliver rapid-response news summaries across multiple global sectors. Read full
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