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UN agencies warn of systemic risks from digital infrastructure failure

By
Kehinde Victor
-

Key Points

  • The International Telecommunication Union (ITU) and the UN Office for Disaster Risk Reduction (UNDRR) warned that digital infrastructure failures could trigger widespread disruptions across critical sectors.
  • A new report, “When Digital Systems Fail: The Hidden Risks of our Digital World,” reveals how digital vulnerabilities translate into real-world chaos.
  • Approximately 90% of the impact of natural hazards results from ripple effects across interconnected systems rather than the initial event.
  • Experts highlighted that societies no longer have analogue systems to fall back on during digital outages.
  • Solar storms and submarine cable disruptions were cited as credible threats that could simultaneously paralyze finance, transport, and healthcare.

Main Story

The United Nations has issued a stark warning regarding the fragility of the global digital landscape, asserting that a major system breakdown is a matter of “when,” not “if”.

During a news conference, the ITU and UNDRR explained that digital systems are now so deeply embedded in daily life that their failures remain invisible until they cause massive disruption to payment services, emergency communications, and healthcare.

The joint report emphasizes that modern disaster risk management must evolve to address “cascading risks” that cross multiple sectors.

For example, a prolonged power outage can disable telecommunications, which in turn shuts down ATM services and local markets, leaving millions without access to cash or basic needs.

This systemic complexity was demonstrated by the volcanic eruption near Tonga, which severed digital connectivity for an extended period, a scenario that could affect hundreds of millions in more interconnected regions.

The Issues

  • Societies have largely lost the analogue fallback systems that once provided resilience during technical failures.
  • The complex links between power, satellites, undersea cables, and data centers are often poorly understood.
  • Many digital risks remain undetected by traditional disaster management systems focused on single, localized hazards.
  • Initial natural hazards trigger massive second-order effects that account for nearly 90% of a disaster’s total impact.
  • Because digital systems drive innovation and growth, a breakdown can halt the entire economic engine of a nation.

What’s Being Said

  • “Digital systems have become so embedded in our lives that we barely notice them until they fail.” — Doreen Bogdan-Martin, ITU Secretary-General
  • “A lot of the time there is an implicit assumption that when digital systems fail, we will have analogue systems to fall back on, but those are no longer there.” — Kamal Kishore, Head of UNDRR
  • “The risk of a digital disaster is not a matter of if, it’s a matter of when, so we better start preparing for it now.” — Kamal Kishore
  • “ITU will continue to raise awareness on critical risks so that these disruptions don’t result in disaster.” — Doreen Bogdan-Martin

What’s Next

  • The ITU and UNDRR will advocate for the global adoption of the six priority preparedness areas in government policy.
  • Focus will increase on the resilience of “undersea cables, satellites and data centres” against space weather and extreme heat.
  • Disaster risk management systems are expected to shift from “single hazard” focuses to “multi-sector cascading risk” models.
  • Awareness campaigns will target remote communities to build resilience against potential ATM and telecommunication blackouts.

Bottom Line

The UN is calling for an urgent global overhaul of risk management, warning that the world’s total reliance on digital infrastructure, coupled with the disappearance of analogue backups—has made systemic disaster inevitable without immediate preparedness.

Nigeria expands technical cooperation with Caribbean nations

Nigeria expands technical cooperation with Caribbean nations

By
Kehinde Victor
-

Key Points

  • Nigeria is deepening South-South ties with Trinidad and Tobago, Grenada, and Barbados through the Nigerian Technical Aid Corps (NTAC).
  • NTAC Director-General Yusuf Yakub conducted a working visit to these nations on behalf of President Bola Tinubu to scale up technical assistance.
  • Discussions in Trinidad and Tobago focused on expanding capacity building and the deployment of Nigerian professionals.
  • Grenada and Nigeria explored cooperation in healthcare training and technical support following meetings with foreign and health officials.
  • Barbados highlighted interest in education, innovation, and human capital, as well as creative sectors like film and fashion.

Main Story

Nigeria has intensified its technical cooperation with key Caribbean nations to strengthen development partnerships across the Global South.

Representing President Bola Tinubu, NTAC Director-General Yusuf Yakub held high-level talks in Trinidad and Tobago, Grenada, and Barbados to expand the deployment of Nigerian professionals under the Technical Aid Corps scheme.

The visit underscored a commitment to mutual growth and human capital development among Africa, Caribbean, and Pacific (ACP) countries.

In Trinidad and Tobago, the focus remained on institutional capacity building, while the mission in Grenada centered on bolstering the healthcare sector through specialized training.

In Barbados, the dialogue shifted toward educational transformation and the creative economy, with local officials expressing a desire to collaborate in agriculture, culture, and the fashion industry.

These engagements reflect a strategic effort to promote sustainable development through the exchange of expertise and professional skills.

The Issues

  • There is a continuous need to drive “innovation and human capital development” through international partnerships.
  • Technical assistance must be “scaled up” to meet the specific development goals of partner nations in the Global South.
  • Identifying “sectors such as culture, film, fashion” requires new frameworks for professional exchange beyond traditional technical roles.
  • Coordination across multiple countries requires a “proactive push” from agencies like the NTAC to ensure effective professional deployment.

What’s Being Said

  • “Nigeria was ready to scale up technical assistance in line with Tinubu’s push for stronger development partnerships.” — Yusuf Yakub
  • International partnerships play a critical role in “driving innovation and human capital development.” — Sandra Husbands, Barbados Minister of Educational Transformation
  • The visit focused on “expanding capacity building and deployment of Nigerian professionals.” — NTAC Spokesperson
  • The engagements “underscored Nigeria’s commitment to strengthening bilateral ties.” — NTAC Official Statement

What’s Next

  • Nigeria is expected to “scale up” the actual deployment of professionals to the three Caribbean nations.
  • Follow-up discussions will likely finalize “technical support” agreements for Grenada’s healthcare system.
  • Barbados and Nigeria may move toward formalizing cooperation in the “film and fashion” sectors.
  • The NTAC will continue its “working visits” to other Global South partners to implement the administration’s technical aid objectives.

Bottom Line

South-South Cooperation. Nigeria is leveraging the Technical Aid Corps to export professional expertise to the Caribbean, focusing on healthcare, education, and the creative arts to solidify its role in Global South development.

Estonian parliament eases skilled labor immigration to boost growth

Estonian parliament eases skilled labor immigration to boost growth

By
Kehinde Victor
-

Key Points

  • The Estonian parliament has passed a bill to simplify the process of bringing skilled non-EU/EEA workers into the country.
  • The legislation addresses an annual shortfall of approximately 1,400 top specialists and 700 skilled workers.
  • A new sector-based exemption replaces the previous short-term employment exemption for industries facing labor shortages.
  • Under the new law, sector-specific quotas and separate permits from the Unemployment Insurance Fund will no longer be required for these fields.
  • Estonia’s total population was 1.36 million as of early 2026, with a current annual immigration quota of 1,292 people.

Main Story

Estonia has taken a legislative step to improve its economic competitiveness by making it easier for skilled foreign workers to obtain residence permits.

The government noted that the current labor gap is actively slowing economic growth and hurting the ability of Estonian companies to compete globally.

The bill specifically targets top specialists, with the Estonian Qualifications Authority identifying the IT sector as a primary area of need.

A fundamental shift in the law removes significant bureaucratic hurdles for employers in sectors facing shortages.

By replacing the old short-term exemption with a targeted sector-based model, the government has eliminated the need for employers to obtain a separate permit from the Unemployment Insurance Fund.

This move effectively bypasses existing quotas for specific industries, allowing for more favorable conditions for fixed-term residence permits.

The Issues

  • A lack of qualified labor is currently “slowing economic growth”.
  • The IT sector is frequently cited as the area with the most significant shortfall of top specialists.
  • A relatively small total population of 1.36 million limits the domestic talent pool.
  • The 2026 annual immigration quota of 1,292 people is tight compared to the identified annual shortfall.

What’s Next

  • The law will take effect to remove sector-specific quotas for qualifying industries.
  • Companies in the IT sector are expected to be the primary beneficiaries of the eased permit process.
  • Authorities will likely monitor if the changes help close the annual gap of 2,100 total workers.
  • Observers will watch to see if the new sector-based model effectively replaces the existing immigration quota system.

Bottom Line

Labor Reform. Estonia is removing sector-specific quotas and Unemployment Insurance Fund permit requirements to attract 2,100 annual skilled workers, aiming to secure its IT sector and restore economic growth.

Lagos residents urged to adopt small-scale farming amid rising costs

Lagos residents urged to adopt small-scale farming amid rising costs

By
Kehinde Victor
-

Key Points

  • The Association of Women in Agriculture is encouraging Lagosians to start home gardens to counter food inflation and high fuel costs.
  • Rising fuel prices have significantly increased transportation costs, which are being passed on to consumers at the market.
  • Residents can utilize non-traditional spaces like backyards, containers, and small plots for urban agriculture.
  • Low-cost materials such as used tires, buckets, and rice sacks are being promoted for planting crops like tomatoes and peppers.
  • Small-scale farming is presented as a practical solution to improve household nutrition and reduce financial pressure.

Main Story

In a move to address the mounting financial strain on households, the Association of Women in Agriculture has called for a widespread shift toward urban farming in Lagos.

President of the association, Alhaja Mulikat Ogunlola, highlighted that the recent hike in fuel prices has created a ripple effect, driving up the cost of moving food from farms to city centers.

By growing their own produce, residents can bypass these inflated market prices and decrease their dependence on external supply chains.

Ogunlola emphasized that a lack of large land tracts should not be a deterrent for city dwellers. The association is actively promoting “low-cost planting methods” that transform everyday household items into productive gardens. This approach not only makes fresh, nutritious food more accessible but also serves as a sustainable strategy for coping with the general increase in the cost of living.

The Issues

  • “Fuel price increases” have made the logistics of food distribution prohibitively expensive.
  • Many households are struggling to “grapple with the rising cost of living” and maintain nutritional standards.
  • There is a need for “increased awareness and support” to help residents transition to urban farming.
  • Stakeholders are calling for better government intervention in providing “training and access to inputs”.

What’s Being Said

  • “Fuel price increases have made the cost of transporting food items very high, and this is reflected in what consumers pay in the market.” — Alhaja Mulikat Ogunlola
  • “You do not need a large expanse of land to start farming. Containers, backyards and small plots can be used to grow vegetables.” — Alhaja Mulikat Ogunlola
  • “Small-scale farming remains a practical and sustainable response to food inflation and rising fuel costs.” — Alhaja Mulikat Ogunlola
  • Engagement in this practice will “not only reduce food expenses but also improve access to fresh and nutritious produce.” — Alhaja Mulikat Ogunlola

What’s Next

  • Calls for the “government and relevant stakeholders” to provide formal training and agricultural inputs.
  • Advocacy will continue to push for more residents to “embrace small-scale farming” as a long-term habit.
  • Efforts aim to help households “maximize available resources” to build more resilient food systems.
  • The association will likely track the success of “crops such as pumpkin leaves and tomatoes” grown in urban settings.

Bottom Line

Urban Agriculture. Small-scale home farming is being championed as a vital economic shield for Lagos residents, turning small spaces and recycled materials into sources of affordable, fresh food amid soaring transportation and market costs.

Global shortfall of one million midwives threatens maternal health

Global shortfall of one million midwives threatens maternal health

By
Kehinde Victor
-
coronavirus
Coronavirus: NCDC Urges Pregnant, Breastfeeding Women to Exercise Caution

Key Points

  • One million more midwives are needed globally by 2035 to save over four million lives annually.
  • Africa currently accounts for approximately half of the global shortfall in midwifery personnel.
  • Skilled midwives can prevent the majority of avoidable maternal and newborn deaths caused by pregnancy complications.
  • Investing in midwifery offers high economic returns, with every $1 invested yielding up to $16 in social and economic benefits.
  • The UNFPA is calling for fair compensation, better career development, and the adoption of innovative diagnostic tools for this largely female workforce.

Main Story

On the International Day of the Midwife, the United Nations Population Fund (UNFPA) highlighted a critical gap in the global health workforce that directly impacts maternal and child survival.

Executive Director Diene Keita stated that educating and deploying one million additional midwives by 2035 is essential to transforming health systems.

These health workers are often the primary providers of maternal care in fragile or crisis-affected settings, offering services that range from family planning to postnatal care.

The shortage is particularly acute in Africa, where the lack of skilled birth attendants contributes to disproportionately high mortality rates. Beyond delivery, midwives provide essential services such as nutrition counseling and cancer screenings.

To address these gaps, the UNFPA is utilizing its Midwifery Accelerator coalition to help nations develop localized investment cases aimed at protecting and empowering midwives as the “backbone of healthy and resilient societies”.

The Issues

  • Africa accounts for “about half of the global shortfall,” driving up maternal mortality on the continent.
  • There is an urgent need for “fair compensation” and improved career paths for a workforce that is predominantly female.
  • Fragile settings often lack the “leadership and protection” required for midwives to operate safely.
  • Health systems must overcome barriers to adopting “innovative technologies” and diagnostic tools that could enhance decision-making.

What’s Being Said

  • “Educating, deploying and retaining one million more midwives would transform health systems and improve millions of lives.” — Diene Keita
  • “Midwives are essential health workers, and they offer a solution to one of the most urgent challenges in global health.” — Diene Keita
  • “Midwifery is the backbone of healthy and resilient societies where women and communities can thrive.” — Diene Keita
  • “Every one dollar invested would yield up to 16 dollars in social and economic returns.” — Diene Keita

What’s Next

  • The UNFPA will continue to support countries through the “Midwifery Accelerator coalition” to develop evidence-based investment strategies.
  • Advocacy efforts will focus on achieving the target of “one million more midwives” by the 2035 deadline.
  • There is a push for health systems to integrate “innovative technologies and diagnostic tools” to strengthen midwives’ skills.
  • Global health monitors will mark “May 5” annually to track progress in midwife education and protection.

Bottom Line

Health Crisis. To save four million lives a year, the UN maintains that the world must bridge a gap of one million midwives by 2035, specifically targeting Africa where the shortage is most severe.

Jim Ovia retires as Zenith bank chairman after 12-year Tenure, Mustafa Bello appointed successor

Jim Ovia retires as Zenith bank chairman after 12-year Tenure, Mustafa Bello appointed successor

By
Boluwatife Oshadiya
-
Jim Ovia Set To Earn N15.22 billion From banking business

By Boluwatife Oshadiya

Key Points:

  • Jim Ovia retires as Chairman of Zenith Bank after completing regulatory tenure
  • Retirement aligns with Nigeria’s 12-year corporate governance limit
  • Mustafa Bello appointed as new Chairman
  • Board credits Ovia for strong leadership and institutional growth
  • Bello brings public and private sector experience to the role

Main Story:
Zenith Bank Plc has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the completion of his tenure in accordance with Nigeria’s corporate governance regulations.

The development was disclosed in a corporate notice issued in Lagos on May 5, 2026, marking the end of Ovia’s 12-year tenure as chairman—the maximum period permitted under guidelines governing financial holding companies, non-interest banks, and payment service banks in the country.

Ovia, widely regarded as the architect of Zenith Bank’s rise into one of Nigeria’s most prominent financial institutions, played a defining role in shaping the bank’s strategic direction and institutional framework. During his time as chairman, he provided leadership oversight that contributed significantly to the bank’s expansion, operational resilience, and market positioning.

The Board of Directors, in its statement, acknowledged Ovia’s contributions, noting that his commitment to corporate governance standards and long-term stakeholder value creation strengthened the Group’s reputation within Nigeria’s financial services sector and beyond.

His exit reflects a broader regulatory push by authorities, including the Central Bank of Nigeria (CBN), to enforce stricter governance frameworks aimed at enhancing transparency, board independence, and institutional sustainability within the banking sector.

Following his retirement, the Board confirmed the appointment of Engr. Mustafa Bello as the new Chairman of Zenith Bank Plc. Bello previously served as a non-executive director on the bank’s board, positioning him as a familiar figure within the institution’s governance structure.

What’s Being Said:
In its official communication, the Board emphasized that Ovia’s tenure was marked by “strong leadership, strategic direction, and effective oversight,” which helped elevate Zenith Bank’s standing in a competitive financial landscape.

The transition to Bello’s leadership is seen as a continuation of the bank’s governance evolution, combining institutional continuity with renewed strategic direction.

Profile of the New Chairman:
Engr. Mustafa Bello is a seasoned administrator and engineer with extensive experience spanning both the public and private sectors.

He holds a Bachelor of Engineering degree in Civil Engineering from Ahmadu Bello University, Zaria, where he graduated in 1978 with a Second Class Upper Division. He also received the Shell Prize for the best project and thesis in the Faculty of Engineering that same year.

Bello began his professional career with the Nigerian Army’s Directorate of Quartering and Engineering Services between 1978 and 1979. He later joined the Niger State Housing Corporation as a Senior Civil Engineer, where he worked from 1980 to 1983.

His public service career gained prominence when he was appointed Minister of Commerce of the Federal Republic of Nigeria from 1999 to 2002. He subsequently served as the Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC) from November 2003 to February 2014, where he played a key role in promoting foreign investment into Nigeria.

Bello is currently the Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle focused on driving economic and social development in Northern Nigeria. He has also contributed to several national initiatives, including the Corporate Affairs Commission’s online registration project and the development of a World Trade Organization (WTO)-compliant trade policy framework for Nigeria.

What’s Next:
With Bello now at the helm, stakeholders will be watching closely to see how Zenith Bank navigates its next phase of growth, particularly in an evolving financial landscape shaped by digital transformation, regulatory tightening, and increased competition.

The leadership transition comes at a time when Nigerian banks are under pressure to strengthen governance structures, deepen financial inclusion, and expand their footprint across African and global markets. Zenith Bank’s ability to maintain its performance trajectory under new leadership will be critical in sustaining investor confidence and market relevance.

UN alarms as drone strikes escalate across Sudan

Week 46 Pool Fixtures for Sat 16, May 2026, UK 2025/2026

By
Boluwatife Oshadiya
-
Week 46 Pool Fixture for Sat 20, May 2023

Now you can find the Week 45 pool fixtures 2026: pool fixtures for this week, this week pool fixtures, football pools results and fixtures, pool fixtures this week, classic pool fixtures, Aussie pool fixtures, UK pool fixtures, advance pool fixtures, Australia pool fixtures, pool panel results, pool result today Saturday, pool results and fixtures this week, fortune soccer pool fixtures.

Find all the Week 45 pool fixtures on Bizwatchnigeria.ng as soon as they are released by the FPA (Football Pools Authority).

Pool Fixtures For This Week: 46; SEASON: UK 2025/2026
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UN alarms as drone strikes escalate across Sudan

Week 45 Pool Result for Sat 9, May 2026, UK 2025/2026

By
Boluwatife Oshadiya
-
Week 45 Pool Fixture for Sat 13, May 2023
Week 45 Pool Fixture for Sat 13, May 2023

Week 45 pool results 2026: Football pools results, live football pool result today, pool result today saturday matches, pool results for this week, british and aussie pool result, football pools results and fixtures, pools panel results today, pool panel results and live score pool result today. We publish half-time results first of its kind.

Week 45 Pool Results: Football pools results for this week 45 2026 are published on this website immediately after full-time confirmation of live score results. We also publish the outcome of postponed matches by the football pools panel at half-time as decided by the football pools. This week’s Week 45 Pool Results are made available in partnership with Bizwatch Nigeria.

WEEK: 45; SEASON: UK 2025/2026; DATE: 09-May-2026
№Football Pools ResultsHTFTStatus
1BrightonWolves-:--:-Saturday
2BurnleyAston Villa-:--:-Sunday
3Crystal P.Everton-:--:-Sunday
4FulhamBournemouth-:--:-Saturday
5LiverpoolChelsea-:--:-EKO
6Man CityBrentford-:--:-LKO
7Nott’m For.Newcastle-:--:-Sunday
8SunderlandMan United-:--:-Saturday
9West HamArsenal-:--:-Sunday
10AberdeenDundee Utd.-:--:-Saturday
11CelticRangers-:--:-Sunday
12DundeeLivingston-:--:-Saturday
13FalkirkHibernian-:--:-Saturday
14MotherwellHearts-:--:-LKO
15St MirrenKilmarnock-:--:-Saturday
16Ath BilbaoValencia-:--:-Sunday
17Atl MadridCelta Vigo-:--:-LKO
18BarcelonaReal Madrid-:--:-Sunday
19MallorcaVillarreal-:--:-Sunday
20Real OviedoGetafe-:--:-Sunday
21R. SociedadR. Betis-:--:-LKO
22SevillaEspanyol-:--:-LKO
23AC MilanAtalanta-:--:-Sunday
24CagliariUdinese-:--:-EKO
25CremonesePisa-:--:-Sunday
26FiorentinaGenoa-:--:-Sunday
27LazioInter Milan-:--:-LKO
28LecceJuventus-:--:-LKO
29ParmaRoma-:--:-Sunday
30VeronaComo-:--:-Sunday
31AugsburgB. M’gladbach-:--:-EKO
32FC CologneFC Heidenheim-:--:-Sunday
33HamburgFreiburg-:--:-Sunday
34HoffenheimW. Bremen-:--:-EKO
35MainzU. Berlin-:--:-Sunday
36RB LeipzigSt Pauli-:--:-EKO
37StuttgartB. Leverkusen-:--:-EKO
38WolfsburgB. Munich-:--:-LKO
39AngersStrasbourg-:--:-Sunday
40AuxerreNice-:--:-Sunday
41Le HavreMarseille-:--:-Sunday
42MetzLorient-:--:-Sunday
43MonacoLille-:--:-Sunday
44Paris SGBrest-:--:-Sunday
45RennesParis FC-:--:-Sunday
46ToulouseLyon-:--:-Sunday
47AjaxUtrecht-:--:-Sunday
48ExcelsiorFC Volendam-:--:-Sunday
49FeyenoordAZ Alkmaar-:--:-Sunday
UN alarms as drone strikes escalate across Sudan

PETAN urges output boost amid shifting OPEC+ dynamics and UAE exit reports

By
Kehinde Victor
-

Key Points

  • The Petroleum Technology Association of Nigeria (PETAN) is calling for a significant increase in oil and gas production to protect national interests.
  • Chairman Wole Ogunsanya noted that reported production plans and the potential exit of the UAE from OPEC+ could weaken the group’s quota discipline.
  • Nigeria is targeting a production goal of three million barrels per day within the next five years.
  • Higher output is expected to strengthen foreign exchange earnings and provide a steady supply for expanding domestic refinery operations.
  • The 2026 Offshore Technology Conference (OTC) in Houston is currently focused on Africa’s energy transformation, technology, and local capacity.

Main Story

At the 2026 Offshore Technology Conference in Houston, PETAN Chairman Wole Ogunsanya warned that major shifts within OPEC+ could upset the global balance between consumers and producers.

Reacting to reports of the United Arab Emirates’ imminent exit from the alliance, Ogunsanya emphasized that Nigeria must prioritize its own fiscal stability by ramping up production.

He argued that regardless of global price fluctuations, consistent production is essential because “the world will continue needing aviation fuel, petrol, and diesel”.

Ogunsanya highlighted the success of the Dangote Refinery, which has already begun exporting aviation fuel to international markets like the United States, as a reason to secure steady crude supply.

He described the current volatility as a “strategic wake-up call” for Nigeria to resolve logistical challenges that have previously caused cargo delays. To stay competitive, the association maintains that Nigeria must focus on consistent marketing of its premium crude to dependable customers.

The Issues

  • Major shifts by key OPEC+ players like the UAE could “upset the balance” of global price stability.
  • Falling global prices could “threaten exports” if Nigeria lacks stronger planning and market preparation.
  • Logistical and contractual challenges have historically caused “cargo delays,” damaging buyer confidence.
  • High production levels from the “United States and Russia” continue to influence global output and price points.

What’s Being Said

  • “Nigeria must focus firmly on its national interest. We need three million barrels daily within five years.” — Wole Ogunsanya
  • “Quota allocations mean little without dependable customers. Nigeria has premium crude, but it must be marketed consistently.” — Wole Ogunsanya
  • “Whatever happens to prices, production must remain steady.” — Wole Ogunsanya
  • “If buyers doubt delivery, they will simply look elsewhere.” — Wole Ogunsanya

What’s Next

  • Nigeria will need to address “logistical and contractual challenges” to ensure on-time delivery of crude to international buyers.
  • Energy stakeholders will monitor the impact of the “UAE’s production plans” on OPEC’s overall quota discipline.
  • Continued focus on the “Dangote Refinery’s exports” will serve as a benchmark for the success of domestic refining and value-added exports.
  • The industry will evaluate progress toward the “three million barrels daily” goal over the next five-year window.

Bottom Line

Output Focus. PETAN is urging a rapid increase in domestic oil production to three million barrels per day to safeguard Nigeria’s economy against potential instability within the OPEC+ alliance and to fuel the country’s growing refining sector.

FG, University Unions talks stall as strike continues

Community Safety Vanguard commends NSA Ribadu for intelligence-led strategy

By
Kehinde Victor
-
Nuhu Ribadu

Key Points

  • The Community Safety Vanguard has praised National Security Adviser Malam Nuhu Ribadu for implementing intelligence-driven security strategies.
  • Security agencies have successfully intercepted arms, ammunition, and logistics meant for terrorist groups, disrupting their supply chains.
  • The group called for improved welfare packages and a sustainable insurance policy for frontline security personnel.
  • Ribadu’s approach is credited with fostering unprecedented synergy and collaboration among various Nigerian security agencies.
  • National Coordinator Comrade Abbas Johnson urged the NSA to remain focused on national security despite potential distractions or criticisms.

Main Story

The Community Safety Vanguard, a national pressure group, has formally commended the National Security Adviser (NSA), Malam Nuhu Ribadu, for his role in securing measurable victories against insurgents.

During a statement issued in Abuja, the group’s National Coordinator, Comrade Abbas Johnson, highlighted that coordinated intelligence-led operations have effectively struck terrorists at their core.

These operations have resulted in the seizure of vital resources, including communication equipment and fuel, significantly weakening the operational capacity of terrorist groups across the country.

In addition to celebrating these strategic successes, the Vanguard emphasized the human cost of maintaining national stability. The organization is advocating for a shift toward a more proactive intelligence doctrine that focuses on preventing attacks before they occur.

Furthermore, they expressed gratitude to President Bola Tinubu’s administration for ongoing initiatives aimed at strengthening national defense and supporting those defending Nigeria’s democracy.

The Issues

  • Adequate welfare remains a “critical morale-booster” for personnel operating in dangerous frontline conditions.
  • There is a pressing need for a “sustainable insurance policy” to protect the families of fallen heroes.
  • Terrorist groups still attempt to move “arms, ammunition, fuel, and logistics” across the country.
  • Security personnel require long-term guarantees for “education, healthcare and dignified livelihoods” for their dependents.

What’s Being Said

  • “Ribadu’s strategy has struck terrorists at the core, while fostering unprecedented synergy, collaboration and operational efficiency.” — Comrade Abbas Johnson
  • “Adequate welfare remained a critical morale-booster for personnel operating under dangerous and demanding frontline conditions.” — Comrade Abbas Johnson
  • The group commended security operatives for their “unwavering dedication, sacrifice and round-the-clock efforts.” — Comrade Abbas Johnson
  • The current measures “reflect government’s commitment to troop welfare and reinforce trust.” — Comrade Abbas Johnson

What’s Next

  • The Vanguard is calling for the “immediate establishment” of an insurance policy for all frontline personnel.
  • Security agencies are expected to continue “coordinated intelligence-led operations” to intercept terrorist logistics.
  • The group will remain “committed to promoting peace” and supporting efforts to restore lasting stability.
  • Further focus will be placed on “preventing terrorist attacks” as a core component of the national security doctrine.

Bottom Line

Security Commendation. The Community Safety Vanguard is backing NSA Nuhu Ribadu’s intelligence-heavy approach to counter-terrorism while urging the federal government to secure the future of frontline troops through better welfare and insurance.

CBN FX intervention drops 83% to $150m as Naira stability faces pressure

UN sounds alarm as drone strikes intensify across Sudan

By
Kehinde Victor
-
‘Failed’ Coup Attempt Reported In Sudan

Key Points

  • The United Nations has expressed alarm over intensifying drone attacks that are targeting civilian infrastructure and residential areas.
  • A drone shot down over Khartoum International Airport on Monday forced the cancellation of flights.
  • Recent strikes in White Nile State and North Kordofan have damaged a fuel station, a tanker, and a state television building.
  • Nearly 9 million people are internally displaced within Sudan, with an additional 4.5 million fleeing to neighboring countries since the war began.
  • The International Organisation for Migration reported over 3,600 newly displaced people in Kordofan states within the past week.

Main Story

The United Nations has issued a stern warning regarding the surge in drone warfare across Sudan, noting that these attacks are increasingly endangering civilians and critical infrastructure.

According to Stephane Dujarric, spokesperson for the UN secretary-general, recent strikes have hit locations ranging from Khartoum International Airport to a state television building in El Obeid.

The violence has also had a lethal impact on families, with local media reporting the deaths of five family members, including women and children, during a strike on Saturday.

The conflict, which has spanned over three years, has created a massive humanitarian crisis, forcing nearly 13.5 million people from their homes.

The UN highlighted that insecurity in Darfur and South Darfur has intensified, with recent strikes injuring civilians and damaging buildings near humanitarian offices.

The world body reiterated that all parties must respect international humanitarian law and ensure that aid can reach those in need without obstruction.

The Issues

  • The escalating use of drones is directly “endangering civilians” and damaging essential “civilian infrastructure”.
  • Flight cancellations at Khartoum International Airport further isolate the country and hinder movement.
  • Displaced populations continue to grow, with “nearly nine million people” now internally displaced.
  • Attacks near “offices of humanitarian organisations” threaten the safety of aid workers and the delivery of relief.
  • Rapid displacement is ongoing, with over “2,600 people” fleeing North Kordofan in just the past week.

What’s Being Said

  • “The insecurity is forcing people to flee their homes.” — Stephane Dujarric
  • “Aid must be allowed to reach people quickly and safely, without obstruction.” — Stephane Dujarric
  • “We reiterate that parties must respect international humanitarian law at all times and that civilians and civilian infrastructure must be protected.” — Stephane Dujarric

What’s Next

  • The UN will continue to monitor displacement levels as the IOM tracks thousands of new arrivals in South and North Kordofan.
  • Pressure is expected to mount on warring parties to provide safe corridors for “humanitarian organisations” to operate.
  • Future reports will likely focus on whether flight operations can safely resume at Khartoum International Airport.
  • International monitors will watch for further escalations in “West Darfur and Nyala” as drone strikes intensify in those regions.

Bottom Line

Drone Escalation. The United Nations is demanding an end to drone strikes on civilian targets in Sudan as the conflict drives displacement figures to record highs and cripples essential infrastructure like airports and fuel stations.

Naira strengthens as interbank FX turnover hits $60m

Kaduna tricycle operators see higher profits with shift to CNG

By
Kehinde Victor
-
NUT

Key Points

  • Commercial tricycle operators in Kaduna are adopting Compressed Natural Gas (CNG) to combat rising petrol prices.
  • Daily fuel expenses for some operators have dropped from ₦15,000 to approximately ₦2,500.
  • Weekly profits for certain drivers have increased from ₦20,000 to as much as ₦50,000.
  • Commuters are starting to benefit from slight fare reductions on specific routes.
  • Challenges to wider adoption include a limited number of refueling stations and the high initial cost of tricycles.

Main Story

The adoption of Compressed Natural Gas (CNG) is reviving the livelihoods of commercial tricycle operators in Kaduna following the 2023 removal of fuel subsidies.

Findings show that many operators who previously struggled with high petrol costs sometimes spending over ₦200,000 monthly, are returning to the trade as fuel expenses plummet.

By switching to CNG, operators report that their monthly fuel spend has dropped to an average of ₦75,000, allowing for a take-home profit exceeding ₦100,000.

This transition is also providing relief to passengers, with some fares dropping by ₦50 to ₦100 as operational costs decrease.

Beyond immediate financial gains, experts note that CNG offers environmental benefits by burning cleaner than petrol, which improves urban air quality.

While the shift has created new opportunities in vehicle maintenance and gas supply, the growth of the sector remains hampered by a lack of refueling infrastructure and the steep cost of acquiring new CNG-powered units.

The Issues

  • Operators face “limited number of CNG refuelling stations,” which creates a bottleneck for expansion.
  • The “cost of acquiring the tricycles” remains a significant barrier to entry for many low-income operators.
  • The removal of fuel subsidies in 2023 initially forced many into poverty or out of the trade entirely.
  • Maintaining a steady “gas supply” is critical to ensuring the sustainability of the current profit margins.

What’s Being Said

  • “Before now, I spent up to ₦15,000 daily on fuel, sometimes, I returned home with almost nothing.” — Musa Abdullahi
  • “I almost left this work in 2025 because I couldn’t cope with fuel costs, but now with CNG, it is more affordable.” — Ibrahim Sadiq
  • “It may not be much, but it is helping us manage the situation.” — Mrs. Amina Sule, on fare reductions
  • “If this continues, we will be able to stand on our feet again.” — Musa Abdullahi

What’s Next

  • Stakeholders expect the transition to continue creating opportunities along the “value chain,” particularly in maintenance.
  • Pressure may increase on the government or private sector to establish more “refuelling stations” to support the growing demand.
  • Further fare reductions could occur if more operators transition, increasing competition and lowering costs for commuters.
  • Experts will likely monitor the “air quality in urban centres” to quantify the environmental impact of the cleaner-burning fuel.

Bottom Line

Economic Revival. The shift to CNG in Kaduna is significantly boosting the profitability of tricycle operators and offering marginal relief to commuters, though infrastructure gaps remain a primary challenge to full-scale adoption.

Dollar To Naira Exchange Rate Today, May 5th, 2026

Dollar To Naira Exchange Rate Today, May 5th, 2026

By
Boluwatife Oshadiya
-
Dollar To Naira Exchange Rate

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange,the official forex trading portal, showed that the naira closed at 1374 per $1 on Tuesday, May 5th, 2026. The naira traded as high as 1362 to the dollar at the investors and exporters (I&E) window on Monday. This is brought to you by Bizwatch Nigeria.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1385 on Monday 4th May, 2026, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN)  does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Selling Rate₦1400
Buying Rate₦1385

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)CBN Rate Today
Highest Rate₦1374
Lowest Rate₦1362

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Naira strengthens as interbank FX turnover hits $60m

Naira strengthens as interbank FX turnover hits $60m

By
Boluwatife Oshadiya
-

By BizWatch Nigeria

Key Points

  • Naira appreciates to N1,365/US$1 at official market
  • Interbank FX turnover rises to nearly $60 million
  • Foreign portfolio investors account for 47% of FX inflows
  • Analysts project range-bound movement for the naira

Main Story

The naira recorded a modest gain against the US dollar at the Nigerian Foreign Exchange Market (NFEM), appreciating to N1,365/US$1 on Monday from N1,374.94/US$1 recorded at the close of last week.

The appreciation was driven by improved FX liquidity and increased interbank market activity, with turnover nearing $60 million, according to data from the Central Bank of Nigeria.

During the trading session, the naira reached an intraday high of N1,374.50 and strengthened further to an intraday low of N1,362, reflecting sustained demand-supply balance in the market.

Interbank FX turnover printed at $39.93 million across 85 deals, highlighting stronger participation compared to the previous trading sessions.

Liquidity and Market Drivers

The local currency has remained relatively stable despite a significant 83% drop in CBN FX intervention in April, indicating growing reliance on autonomous FX sources.

Total FX inflows for the week stood at $520 million, with foreign portfolio investors contributing the largest share at $250 million (47.1%).

Exporters and importers accounted for $180 million, while non-bank corporates contributed $70 million. Other sources, including foreign direct investment inflows, made up $20 million.

Meanwhile, the parallel market remained stable at N1,400/US$1, with a narrow premium of 1.82% over the official rate, signalling improved market alignment.

What’s Being Said

According to analysts at Coronation Merchant Bank, the naira is expected to trade within a narrow band in the near term, supported by ongoing liquidity management measures by the CBN.

“Liquidity mop-ups through Open Market Operations (OMO) continue to attract foreign portfolio investors seeking high-yield instruments,” the bank noted.

With bond yields rising to 15.94% ahead of a planned N700 billion auction, analysts expect renewed foreign inflows to support FX supply.

What’s Next

Despite the positive outlook, risks remain. Analysts warn that declining external reserves could constrain the CBN’s intervention capacity, while elevated oil prices may contribute to inflationary pressures through higher energy costs.

Any slowdown in foreign portfolio inflows or further reserve depletion could widen the gap between official and parallel market rates.

Army opens 2026 regimental cadre convention, pushes for enhanced combat readiness

CBN FX intervention drops 83% to $150m as Naira stability faces pressure

By
Boluwatife Oshadiya
-

By BizWatch Nigeria

Key Points

  • CBN FX intervention declined by 83% to $150 million in April
  • Nigeria’s external reserves fell to $48.367 billion
  • Naira stability supported by foreign inflows and corporate dollar supply
  • Rising crude oil prices driven by geopolitical tensions

Main Story

The Central Bank of Nigeria (CBN) sharply reduced its foreign exchange (FX) market intervention by 83% in April, injecting just $150 million into the official market, down from $895 million recorded in March.

Despite the reduced intervention, the naira held relatively firm, closing at N1,374.94/US$1 at the end of April, supported by improved FX inflows and increased participation from foreign portfolio investors (FPIs).

Market liquidity remained buoyant as non-bank corporates, exporters, and other autonomous sources supplied dollars into the system, helping to offset the reduced presence of the apex bank.

However, sustained FX outflows—including foreign debt servicing obligations and intervention-related commitments—dragged Nigeria’s gross external reserves down to $48.367 billion from $49.238 billion at the start of the month.

Market Context: Oil Prices Surge Amid Global Tensions

Global crude oil prices extended their upward trajectory, driven by persistent geopolitical tensions around the Strait of Hormuz, a critical oil transit chokepoint.

Brent crude rose by 9.86% week-on-week to close at $117.04 per barrel, after hitting an intraday high of $118, pushing its year-to-date return to 77.76%.

Nigeria’s Bonny Light crude outperformed global benchmarks, surging by 10.38% week-on-week to $134.86 per barrel—its highest level since 2022—amid tight supply conditions in the Atlantic Basin and strong demand for light sweet crude.

What’s Being Said

Analysts note that ongoing diplomatic tensions involving Iran and the United States continue to disrupt oil flows, limiting the likelihood of a near-term resolution.

Iran’s move to restrict shipping access in the Strait of Hormuz, combined with continued US pressure on Iranian exports, has sustained supply uncertainty.

Additionally, the United Arab Emirates’ unexpected exit from OPEC has introduced further volatility, as markets anticipate increased production outside quota constraints.

What’s Next

While elevated oil prices may boost Nigeria’s export earnings in the medium term, analysts warn that declining reserves and reduced FX intervention could limit the CBN’s ability to stabilise the naira in the near term.

Army opens 2026 regimental cadre convention, pushes for enhanced combat readiness

FG, University Unions talks stall as strike continues

By
Boluwatife Oshadiya
-
Gbajabiamila Urges Youths To Vote For Candidates With 'Track Records'

By BizWatch Nigeria

Key Points

  • FG, SSANU, NASU negotiations end in deadlock
  • Unions insist on 40% salary increase
  • Nationwide strike disrupts university operations
  • Talks rescheduled for May 5

Main Story

Negotiations between the Federal Government and the Joint Action Committee (JAC) of university non-teaching staff unions ended in a deadlock on Monday, as both parties failed to reach an agreement on key demands.

The meeting, convened by the Minister of Education, Dr. Tunji Alausa, has been adjourned to May 5 for further discussions.

The Joint Action Committee comprises the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU).

The unions commenced an indefinite strike on April 30 following the expiration of a one-month ultimatum issued to the federal government over the renegotiation of the 2009 agreement.

Dispute Over Salary Adjustment

At the centre of the dispute is the demand for a 40% salary increase by the unions, compared to the federal government’s earlier proposal of 30%, which was later withdrawn.

Union leaders have criticised the government’s approach, describing the withdrawal of the offer as unilateral and lacking adequate consultation.

What’s Being Said

SSANU President, Mohammed Ibrahim, said the strike has recorded full compliance across universities nationwide, effectively shutting down administrative and support services.

“Our demands remain unchanged. We are demanding fairness, equity, and proper consideration for our members,” he said.

“The 40% benchmark is the minimum acceptable position for us, and the strike continues until meaningful progress is achieved.”

He added that key university operations, including administrative offices, clinics, hostels, and finance departments, have been paralysed.

Impact on Academic Activities

The ongoing strike has begun to disrupt academic schedules. The University of Maiduguri has already postponed its e-examinations due to the industrial action.

In an official memo issued by the Vice-Chancellor’s office, the institution confirmed that examinations would be rescheduled until the strike is suspended.

What’s Next

With negotiations set to resume on May 5, stakeholders are closely watching for a breakthrough that could bring an end to the strike and restore normal operations across Nigerian universities.

Failure to reach an agreement may prolong disruptions, with broader implications for the academic calendar and student welfare.https://bizwatchnigeria.ng/nigerian-army-neutralizes-terrorists-and-foils-fraudulent-recruitment-scheme/

Army opens 2026 regimental cadre convention, pushes for enhanced combat readiness

Naira appreciates at official market to open the week

By
Kehinde Victor
-

Key Points

  • The local currency opened the week on a positive note, gaining N9.69 against the U.S. dollar.
  • Data from the Central Bank of Nigeria indicates the naira appreciated to N1,365.24 at the official market.
  • This movement represents a 0.7 per cent increase in value compared to previous sessions.
  • The benchmark rate stood at N1,374.94 as of Thursday, April 30.

Main Story

The Nigerian naira began the first trading week of May with a marginal gain at the official window. According to data provided by the Central Bank of Nigeria (CBN), the local currency strengthened to N1,365.24 per dollar, reflecting a recovery of N9.69.

This performance follows the closing rate of N1,374.94 recorded during the final trading session of April.

This 0.7 per cent appreciation suggests a stable start to the month as the market continues to react to ongoing fiscal and monetary adjustments. The gain at the official market provides a benchmark for foreign exchange transactions as the government seeks to manage volatility and improve the supply of liquid assets within the banking system.

Bottom Line

Currency Gain. The naira strengthened to N1,365.24 against the dollar at the start of the week, marking a 0.7 per cent appreciation from the final trading days of April.

Top ten stockbrokers drive N949.899 billion in April transactions

Ministry of Industry and RMAFC partner to streamline investment climate

By
Kehinde Victor
-
RMAFC Kicks Off Revenue Allocation Formula Review
RMAFC Kicks Off Revenue Allocation Formula Review

Key Points

  • The Ministry of Industry, Trade and Investment is collaborating with the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to enhance the investment climate.
  • Dr. Jumoke Oduwole acknowledged existing gaps in the investment ecosystem and committed to deepening reforms for better service delivery.
  • RMAFC reported that current company registration delays of two to three weeks are no longer globally competitive.
  • The collaboration aims to strengthen ties with the Corporate Affairs Commission to make business registration more efficient.
  • RMAFC is shifting its focus beyond revenue distribution to actively supporting initiatives that expand the national revenue base.

Main Story

The Ministry of Industry, Trade and Investment and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) have established a joint commitment to remove structural impediments to business in Nigeria.

During a meeting in Abuja, Minister Jumoke Oduwole stated that the focus is on deepening reforms across the entire investment ecosystem to ensure transparency and efficiency.

This initiative aligns with presidential directives for stronger coordination across government institutions to improve outcomes for the Nigerian economy.

RMAFC’s Investment Monitoring Committee highlighted significant bottlenecks, particularly noting that the world has moved toward one-stop-shop systems where critical processes are completed in days rather than weeks.

The commission emphasized that inefficiencies currently risk driving potential investors toward jurisdictions with more predictable processes. To counter this, the ministry is working to ensure that business registration and related services become more responsive to investor needs.

The Issues

  • Inefficiencies in the system may discourage potential investors who operate within tight timelines.
  • Delays of up to three weeks for company registration are considered a significant bureaucratic bottleneck.
  • There is a lack of clear identification and operationalisation of Export Free Zones, hindering the use of available incentives.
  • Progress has been made, but measurable gaps remain in institutional coordination across the investment ecosystem.

What’s Being Said

  • “I assure you of our continued collaboration with RMAFC to strengthen investment opportunities and deliver better services for investors and the Nigerian economy.” — Dr. Jumoke Oduwole
  • “Investors expect seamless, one-stop-shop systems where critical processes such as company registration are completed within days, not weeks.” — Ekene Enefe
  • “As a commission, we must move beyond revenue distribution to actively supporting initiatives that will grow the nation’s revenue.” — Ekene Enefe
  • “Our focus is on deepening reforms across the entire investment ecosystem to ensure efficiency, transparency, and improved outcomes.” — Dr. Jumoke Oduwole

What’s Next

  • The ministry will pursue deliberate efforts to strengthen collaboration with the Corporate Affairs Commission (CAC).
  • RMAFC will continue to track investment-related processes through its monitoring committee to address observed bottlenecks.
  • Implementation of stronger coordination across government institutions is expected to continue under the Renewed Hope Agenda.
  • Stakeholders are calling for urgent reforms to streamline investor on-boarding to align with global best practices.

Bottom Line

Climate Reform. The Ministry of Industry and RMAFC are prioritizing inter-agency collaboration to slash registration timelines and improve the ease of doing business, aiming to grow national revenue through increased investment inflows.

Universal Insurance signals recapitalisation readiness

Universal Insurance signals recapitalisation readiness

By
Kehinde Victor
-

Key Points

  • Universal Insurance Plc has reaffirmed its readiness for the 2026 recapitalisation exercise.
  • The company plans to meet regulatory thresholds through a rights issue and private placement.
  • Managing Director Japhet Duru noted that shareholder commitments may exceed the actual capital requirements.
  • The Nigerian Council of Registered Insurance Brokers (NCRIB) identified builders’ liability and infrastructure performance guarantees as key growth areas.
  • Universal Insurance has improved its claims settlement and underwriting processes to strengthen broker relations.

Main Story

Universal Insurance Plc has declared its financial stability and commitment to meeting new regulatory standards during a meeting with the Nigerian Council of Registered Insurance Brokers (NCRIB) in Lagos.

Managing Director Japhet Duru informed stakeholders that the firm has already initiated the processes necessary for the 2026 recapitalisation, securing strong backing from existing shareholders.

Duru emphasized that the company is moving toward a mix of private placements and rights issues to solidify its capital base, expressing confidence that they will be among the firms officially recognized by the National Insurance Commission (NAICOM).

Accompanying this capital push is a renewed focus on service delivery, with Duru describing brokers as “trusted advisers” and the “backbone of insurance distribution”.

The company has reportedly enhanced its communication channels and claims processes to better serve these intermediaries. NCRIB President Ekeoma Ezeibe supported this optimistic outlook, noting that ongoing economic reforms and capital inflows are transforming insurance into essential “economic infrastructure”.

The Issues

  • The 2026 recapitalisation exercise serves as a major hurdle that will determine which firms remain authorized to operate in the Nigerian market.
  • While “claims settlement remains the true test,” the industry must convince brokers and the public of its financial strength.
  • Growth is currently tied to specific niches like builders’ liability, motor insurance, and goods-in-transit coverage.
  • Ensuring continuity in the day to day operations during the capital-raising phase is vital for maintaining broker relations.

What’s Being Said

  • “In fact, the level of commitment may exceed our requirements.” — Japhet Duru, on shareholder support
  • “Claims settlement remains the true test of our promise.” — Japhet Duru
  • “Insurance is now economic infrastructure. These reforms are creating insurable assets at scale.” — Ekeoma Ezeibe, NCRIB President
  • “Brokers remain the backbone of insurance distribution. They are not just intermediaries but trusted advisers.” — Japhet Duru

What’s Next

  • Universal Insurance expects to be listed among successfully recapitalised firms once the exercise concludes.
  • The NCRIB will continue to support brokers in utilizing growth in infrastructure projects to increase insurance adoption.
  • The company will move forward with its “private placement” and “rights issue” plans to finalize its capital structure.
  • Stakeholders will monitor the adoption of “performance guarantees” across major infrastructure developments.

Bottom Line

Capital Readiness. Universal Insurance is leveraging strong shareholder support and a “rights issue” strategy to meet the 2026 recapitalisation requirements, while aligning with brokers to capitalize on Nigeria’s expanding “economic infrastructure”.

Nigeria condemns threats and killings of citizens in South Africa

Dangote refinery moves into direct jet fuel supply as price pressures roil aviation sector

By
Ibe Wada
-

Key points

  • Dangote Refinery begins direct Jet A-1 supply to airlines at N1,820/litre
  • Airlines battle soaring fuel costs amid global oil shocks and market disputes
  • LCCI urges government intervention to stabilise aviation sector and reduce costs

Main story

Nigeria’s aviation fuel market is entering a new phase as the Dangote Petroleum Refinery commences direct sales of Jet A-1 to airlines, offering the product at N1,820 per litre amid mounting pressure on operators grappling with escalating costs.

A senior official of the Dangote Group confirmed that the Lekki-based refinery, which currently supplies over 90 per cent of Nigeria’s aviation fuel demand, has opened its loading bay to both local and international carriers willing to procure directly.

The development follows confirmation that Ethiopian Airlines has already begun lifting jet fuel from the refinery, signalling a shift in supply dynamics within the downstream petroleum sector.

The move comes at a critical time for Nigeria’s aviation industry, where operators have warned of potential shutdowns due to a sharp spike in fuel prices. Industry data indicate that Jet A-1 prices surged from about N900 per litre in February to as high as N2,700–N3,500 in recent weeks, driven largely by global crude oil volatility linked to geopolitical tensions in the Middle East.

Dangote officials noted that while the company had previously absorbed costs to stabilise petrol and diesel prices, aviation fuel would be sold strictly at prevailing market rates, reflecting global realities.

To improve transparency, the refinery also disclosed plans to begin publishing jet fuel prices regularly, allowing market participants to track pricing trends more effectively.

The issues

The aviation sector is facing a cost crisis driven by volatile global oil prices, foreign exchange pressures, and pricing disputes between airlines and fuel marketers. The sharp rise in Jet A-1 costs has significantly increased airlines’ operating expenses, threatening route viability and overall sector sustainability.

Additionally, concerns over pricing transparency and market structure have intensified tensions between airline operators and fuel suppliers.

What’s being said

Airline Operators of Nigeria (AON) have described the recent surge in jet fuel prices as “astronomical and unsustainable,” arguing that increases by marketers far exceed global crude oil price movements.

In response, the Major Energies Marketers Association of Nigeria (MEMAN) attributed price fluctuations to international market disruptions, particularly geopolitical tensions, while disputing claims of extreme pricing levels.

Meanwhile, the Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to implement measures that will ease airlines’ cost burden and prevent a potential industry collapse.

What’s next

Industry stakeholders expect increased competition and potential price moderation as direct supply arrangements expand. Regulatory agencies are also likely to intensify oversight, particularly around pricing benchmarks and market transparency.

Further engagement between government, refiners, marketers, and airline operators is anticipated to stabilise the sector and ensure sustainable fuel supply.

Bottom line

Dangote Refinery’s entry into direct jet fuel supply could reshape Nigeria’s aviation fuel market, but without coordinated policy action and cost management, airlines may continue to face severe operational pressures in an increasingly volatile global energy environment.

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