Japanese Automakers Face New Risks From Iran War and Stronger Yen
Japan’s major automakers are facing growing uncertainty as the Iran war and efforts to strengthen the yen threaten to reverse some of the financial benefits that helped boost their latest earnings. Toyota, Honda and Nissan all benefited from the historically weak Japanese currency in their most recent quarterly results. Toyota and Honda raised their full-year […]
Oil Prices Rise as Hopes Fade for Breakthrough on Strait of Hormuz
Global oil prices climbed on Monday as optimism faded over the prospects of an imminent agreement between the United States and Iran to resolve their standoff over the Strait of Hormuz. Iran and Oman had recently indicated that negotiations were nearing an agreement that could allow oil shipments and other commercial traffic to resume through […]
Oil Tops $100 a Barrel as Houthi Tanker Attack and Middle East Conflict Shake Markets
Global oil prices climbed above $100 a barrel on Thursday for the first time since May after Yemen’s Houthi movement claimed responsibility for attacks on two Saudi oil tankers in the Red Sea, fueling concerns over global energy supplies. The reported strikes came as hostilities between the United States and Iran continued to escalate, intensifying […]
Oil Prices Surge as Gulf Shipping Attacks and U.S.-Iran Tensions Intensify
Global oil prices climbed sharply on Thursday after reports of attacks on oil tankers off the coast of Saudi Arabia and renewed U.S. threats to expand military strikes against Iran heightened fears of further disruptions to energy supplies. By 5:30 a.m. ET, Brent crude futures for July delivery had risen 4.6% to $98.44 per barrel, […]
Dangote Resumes Naira Petrol Sales as Price Jumps 13%
Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit (PMS) in naira after a week-long suspension, increasing its ex-depot petrol price to N1,215 per litre. The new price represents a N140 per litre increase, or 13.02 per cent, from the previous ex-depot price of N1,075 per litre. The refinery suspended gantry and coastal loading on July 15 after introducing […]
Dangote Refinery Switches Fuel Sales to Dollar Payments
Dangote Petroleum Refinery has switched payment for the sale of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO) and Aviation Turbine Kerosene (ATK) from naira to U.S. dollars. The new policy, which took immediate effect, applies to both gantry and coastal product sales. Industry sources said the decision was driven by the refinery’s increasing foreign […]
Dangote Wins Road Safety Excellence Award
Stakeholders in the transport sector have commended the Dangote Group for its commitment to road safety and responsible transportation after the conglomerate received the Road Safety Corporate Excellence Award from the Kogi State Government. The award recognises the company’s sustained support for initiatives aimed at reducing road accidents, protecting lives and promoting safer highways across Nigeria. Presenting the award, Atuluku Levi said […]
Dangote Urges FG to Invest in Six Key Areas of Marine Economy
President and Chief Executive Officer of Dangote Industries Limited, Alhaji Aliko Dangote, has urged the Federal Government to channel investments into six priority areas of the marine and blue economy to drive growth, create jobs and strengthen Nigeria’s industrial competitiveness. Speaking at the 2nd Quarter 2026 Citizens/Stakeholders’ Engagement organised by the Federal Ministry of Marine […]
Dangote Picks Kenya for 700,000bpd East African Refinery
Aliko Dangote has selected Lamu, Kenya, as the site for Dangote Industries Limited’s proposed 700,000 barrels-per-day (bpd) refinery in East Africa, ending months of speculation over the project’s location. A senior executive of the company confirmed on Tuesday that the refinery, modelled after the Dangote Petroleum Refinery in Lagos, will be built in the coastal […]
CBN Caps Bank Payment Suspension at Two Days
The Central Bank of Nigeria (CBN) has introduced new guidelines capping the suspension of payment obligations involving troubled banks and other financial institutions at a maximum of two business days. The directive, contained in a circular dated July 1 and addressed to all banks and financial institutions, is aimed at clarifying the implementation of Sections […]
