Category: Business
Aiyedatiwa Signs Ondo Power Sector Law to Boost Electricity Supply, Investment
Ondo State Governor Lucky Aiyedatiwa has assented to a new power sector law aimed at attracting investment, expanding electricity generation and distribution, and building a more reliable and sustainable power market across the state. The Governor of Ondo State, Lucky Aiyedatiwa, has assented to the Ondo State Electric Power Sector (Amendment) Law, 2026, strengthening the…
Iran Dismisses Trump’s Hormuz ‘Control’ Claim, Insists Strait Remains Under Its Management
Iran has rejected US President Donald Trump’s repeated claims of control over the strategic Strait of Hormuz, insisting that it remains in charge of the waterway and plans to introduce a toll system. This handout photograph taken and released by the Iranian Foreign Ministry on June 16, 2026, shows Iranian Foreign Minister Abbas Araghchi speaking…
Insecurity Threatens Customs Revenue as Officers Face Rising Attacks
The worsening security situation is putting Nigeria’s revenue collection at risk, the Nigeria Customs Service has warned, as officers increasingly face deadly threats, including killings and injuries while carrying out their duties. Insecurity Threatens Customs Revenue as Officers Face Rising Attacks The worsening security situation is putting Nigeria’s revenue collection at risk, the Nigeria Customs…
CBN Eases Discount Window Rules, Removes Restrictions On FX And Govt Securities Transactions
The Central Bank of Nigeria has relaxed restrictions on its discount window, allowing financial institutions to access the facility even when they participate in the Nigerian Foreign Exchange Market or primary auctions of government securities. CBN Office Abuja Central Bank of Nigeria (CBN) Wednesday announced the removal of restrictions preventing financial institutions that accessed its…
Customs Moves To Boost Trade, Revenue Collection In Niger State
The Nigeria Customs Service is exploring fresh strategies to expand trade and increase revenue collection in Niger State, as it intensifies consultations with businesses and other stakeholders across the zone. Niger_State in in North-Central Nigeria The Nigeria Customs Service (NCS) has reiterated its commitment to developing strategies to address challenges affecting businesses, cross-border activities and…
Nigeria’s Oil Production Drops As Strait Of Hormuz Passage Tightens
Nigeria’s oil production has declined amid tightening passage through the Strait of Hormuz, raising fresh concerns over crude exports and the country’s oil supply outlook. Staright of Hormuz Meets OPEC quota for third month as output hits 1.67mbpd Nigeria’s crude oil production fell by four per cent month-on-month in July despite the country maintaining its run…
NCDMB Urges Oil Firms To Adopt Digital Portal For Global Competitiveness
The Nigerian Content Development and Monitoring Board (NCDMB) has called on oil and gas companies to embrace its digital portal, saying the platform will enhance efficiency, strengthen compliance and improve the industry’s competitiveness in the global market. The Nigerian Content Development Monitoring Board has urged stakeholders in the oil and gas industry to embrace its…
Nigeria Meets OPEC Quota For Third Straight Month As Oil Output Hits 1.67mbpd
Nigeria has met its OPEC production quota for the third consecutive month, with crude oil output rising to 1.67 million barrels per day in July, extending the country’s recent run of compliance with its agreed production target. A graphic illustration of barrels of crude oil Nigeria has for the third consecutive month met and exceeded…
IEA Slashes 2026 Oil Demand Forecast Again As Hormuz Crisis Takes Toll
The International Energy Agency has cut its 2026 oil demand forecast for a second consecutive month, now expecting consumption to fall by 1.6 million barrels per day as the prolonged closure of the Strait of Hormuz continues to disrupt the global energy market. Executive Director of the International Energy Agency (IEA) Fatih Birol delivers opening…
US Inflation Stays High As Fed Weighs Higher Interest Rates
With inflation remaining above the Federal Reserve’s 2% target for more than five years and pressure from the Iran war adding to economic concerns, policymakers are increasingly considering whether higher interest rates may be needed to bring prices under control. A graphic illustration of barrels of crude oil Oil prices rose again Wednesday, and stock…
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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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