• March 12, 2026
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NERC Issues Regulation and Authorization Order for Grid-Connected Private Transmission Sub-Stations

NERC Issues Regulation and Authorization Order for Grid-Connected Private Transmission

March 12, 2026

The Nigerian Electricity Regulatory Commission (NERC) has issued an order on the Registration and Authorisation of Grid-Connected Private Transmission Substations in the Nigerian Electricity Supply Industry (“NESI”) owned by bulk electricity consumers, to enhance grid reliability, stability, operational efficiency, and ensure compliance with the provisions of the Grid Code. The NERC website states that the […]Read More

President Tinubu nominate Lamido Abubakar Yuguda as CBN Governor

President Tinubu nominate Lamido Abubakar Yuguda as CBN Governor

March 12, 2026

March 12, 2026 President Bola Ahmed Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, subject to confirmation by the Senate. The appointment is in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007. Yuguda’s nomination follows the recent appointment of the erstwhile […]Read More

EU Mulls Capping Gas Price as Energy Costs Spike on

March 11, 2026

March 11, 2026 The European Union (EU) is considering emergency relief measures in the wake of the energy price spike amid the Middle East war, including capping the price of natural gas, European Commission President Ursula von der Leyen said on Wednesday. The price spike in oil and gas prices during the ten days of […]Read More

Shell and TotalEnergies Issue Force Majeure After Qatar LNG Shut Down

Shell and TotalEnergies Issue Force Majeure After Qatar LNG Shut

March 11, 2026

March 11, 2026 Several major energy traders have begun declaring force majeure to their own customers after Qatar’s LNG shutdown rippled through global gas markets, according to Reuters sources on Wednesday. Companies including Shell and TotalEnergies–both major portfolio players that lift liquefied natural gas from QatarEnergy–have notified downstream buyers that contractual deliveries may be disrupted […]Read More

Dangote Refinery Reduces Petrol and Diesel Prices

Dangote Refinery Reduces Petrol and Diesel Prices

March 11, 2026

…Main Insights and Prospective Outlook Dangote Petroleum Refinery and Petrochemicals has announced adjustments to petrol and diesel prices in response to the recent drop in global oil prices, which fell from $115 to $90 per barrel on Monday. According to a pricing template shared on Tuesday, the gantry price of petrol has been reduced by […]Read More

India’s Top Bank Avoids Russian Oil Payments Despite U.S. Sanctions

March 10, 2026

March 10, 2026 State Bank of India, the largest lender in the country, continues to shun processing payments for purchases of Russian oil despite the temporary U.S. waiver for India to buy Russia’s crude stashed in floating storage in Asia, sources with knowledge of the situation have told Bloomberg. State Bank of India (SBI) is unwilling […]Read More

Saudi Aramco Profits Fall 12% to $104.7 Billion as Oil Prices Weigh

Saudi Aramco Profits Fall 12% to $104.7 Billion as Oil

March 10, 2026

March 10, 2026 Saudi Aramco reported net profits of $104.7 billion for 2025, down by 12% on the year amid persistently low oil prices last year. The company also said it would buy back up to $3 billion over the next 18 months. The company’s free cash flow at the end of 2025, however, was […]Read More

Iran Warns No Oil Will Leave the Middle East Until U.S. and Israeli Attacks Stop

Iran Warns No Oil Will Leave the Middle East Until

March 10, 2026

March 10, 2026 Iran has warned that “not a litre” of oil will be exported from the Middle East until the United States and Israel stop bombing it. The warning comes on the heels of statements made by President Trump that the war would be over “very soon”, which toppled oil prices from peaks reached […]Read More

China Boosted Oil Imports Nearly 16% in Early 2026

China Boosted Oil Imports Nearly 16% in Early 2026

March 10, 2026

March 10, 2026 Crude oil imports into China climbed 15.8% over the first two months of the year, with the information likely to continue to a reversal of the recent decline in oil prices, signalling strong demand from the world’s largest importer. Per official data from Beijing, China imported crude oil at a daily rate […]Read More

Impacts of U.S.-Israel-Iran Conflict on Cement, Oil, Diesel, and Electricity

March 9, 2026

The unexpected sharp rise in Dangote cement prices to over N10,000–N11,000 per bag in early 2026 is primarily attributed to escalating inflation, a significant devaluation of the naira driving up the cost of imported materials like gypsum, and surging diesel prices. These factors have increased production costs dramatically, compelling manufacturers to pass these burdens onto […]Read More

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