Qatar’s energy sector has suffered an unprecedented blow following attacks on key infrastructure, with the country’s liquefied natural gas (LNG) output expected to remain partially offline for the next three to five years. According to Saad al-Kaabi, Qatar’s Minister of State for Energy Affairs and CEO of QatarEnergy, the strikes have already wiped out an estimated $20 billion in annual revenue and disrupted about 17% of the nation’s LNG export capacity. The damage, described as “unprecedented” by al-Kaabi, comes as Israel targeted Iran’s South Pars gas field, the world’s largest natural gas reserve, escalating tensions across the Gulf region.…
Author: Elvis Eromosele
The United Kingdom and Nigeria have formalised a new agreement to streamline the deportation of failed asylum seekers and convicted offenders, marking a major step in tightening immigration enforcement and reducing bureaucratic bottlenecks. The deal was signed on Thursday during President Bola Tinubu’s state visit to the UK by UK Home Secretary Shabana Mahmood and Nigeria’s Minister of Interior, Dr Olubunmi Tunji-Ojo. It builds on ongoing UK-Nigeria collaboration on migration, border security, and justice issues. Under the agreement, Nigerian authorities will accept diplomatic notes, known as “UK Letters,” in place of traditional travel documents like passports. For years, the absence…
The Lagos State Government has sealed the office of a non-certified real estate agent in Ikorodu, as part of an intensified crackdown on fraudulent and unregistered practitioners in the property sector. The operation targeted Demeny Ventures, located on Oladele Adeniji Street, Owutu Agric, which allegedly presented itself as a registered agent under the Lagos State Real Estate Regulatory Authority (LASRERA) using a fake registration number. The enforcement exercise was carried out on Wednesday in collaboration with officers from the State Task Force, following credible intelligence on the firm’s activities. Speaking on the operation, Barakat Odunuga-Bakare, Special Adviser to the…
The United Kingdom and Nigeria have signed a three-year strategic agreement aimed at increasing jail terms for immigration-related offences and strengthening efforts to combat visa fraud and organised migration crime. The joint statement, signed on March 18, 2026, in London by UK Home Secretary Rt Hon Shabana Mahmood and Nigeria’s Minister of Interior Dr Olubunmi Tunji-Ojo, builds on the 2024 UK-Nigeria Strategic Partnership. It underscores both countries’ commitment to deepening cooperation on migration, justice, and home affairs. The agreement outlines several measures designed to tighten laws and enforcement mechanisms for immigration-related crimes: Harsher Penalties: Jail terms for individuals convicted…
Nigeria’s food import bill hit a staggering ₦7.65 trillion in 2025, marking a four-year high and raising urgent questions about the sustainability of the country’s agricultural policies. The surge, largely driven by the Federal Government’s 2024 import waiver policy, was introduced to combat soaring food inflation, which at its peak had exceeded 40 per cent. While the policy temporarily eased consumer pressure, it has had unintended consequences for local producers, food security, and the economy at large. Data from the National Bureau of Statistics (NBS) shows that Nigeria spent ₦2.86 trillion on food and beverage imports in 2022 and ₦3.83…
Residents and businesses in Lagos, particularly in the Amuwo-Odofin axis, may face up to four months of intermittent power outages as authorities commence major maintenance on a key electricity facility. The Transmission Company of Nigeria (TCN) and Ikeja Electric have announced plans to rehabilitate the 132kV Gas Insulated Substation (GIS) at the Amuwo Transmission Station. According to a statement by Ikeja Electric, the maintenance work will begin on March 19, 2026, and run until July 30, 2026. During this period, several feeders will be affected, including: Old Ojo Road and Ijesha Express Jakande 1 and 2 Amukoko Hongxing 1 and…
Olatunji Disu, Inspector-General of Police, has disbursed N2.4 billion to 1,075 families of police officers who died in active service, reinforcing efforts to improve welfare and honour fallen personnel. The payment, made under the Group Life Assurance and I-G Family Welfare Schemes, was announced on Wednesday during a cheque presentation ceremony in Abuja. According to the police chief, the N2.4 billion covers next of kin of deceased officers across multiple policy years, spanning from 2018/2019 to 2025/2026. The disbursement also includes recovered insurance obligations that had remained unpaid for years. Disu emphasised that officer welfare is central to his leadership…
The Central Bank of Nigeria (CBN) is set to raise N1.05 trillion in a Treasury Bills (NTBs) auction today, March 18, pushing the Federal Government’s short-term borrowing close to N3 trillion within just two weeks. The planned issuance, disclosed in an official tender notice issued on behalf of the Debt Management Office (DMO), underscores the government’s deepening reliance on the domestic debt market amid mounting fiscal pressures. The CBN will offer N1.05 trillion across three maturities: N100 billion in 91-day bills N150 billion in 182-day bills N800 billion in 364-day bills The heavier allocation to longer-tenor instruments reflects sustained investor…
Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has warned that the escalating conflict in the Middle East could complicate Nigeria’s monetary policy outlook, particularly plans around interest rate adjustments. Speaking in an interview with the Financial Times, Cardoso said tensions involving the United States, Israel, and Iran pose significant risks to inflation and could influence future decisions on borrowing costs. According to him, geopolitical shocks are most likely to impact Nigeria through rising energy prices and shifts in global financial conditions—two critical variables closely monitored by policymakers. Higher oil prices, he noted, present a mixed outcome for…
Nigeria has secured a £746 million financing agreement from the United Kingdom to upgrade its key seaports in Lagos, in a move aimed at boosting trade efficiency and strengthening the country’s maritime sector. Adegboyega Oyetola, Minister of Marine and Blue Economy, disclosed that the deal will fund the modernisation of the Apapa and Tin Can Island ports, Nigeria’s busiest and most critical maritime gateways. The agreement, backed by UK Export Finance (UKEF), is scheduled to be formally signed on March 18 and 19 at Windsor Castle, where President Bola Tinubu is expected to be hosted by King Charles III. The…