Nigeria’s crude oil production has risen to about 1.8 million barrels per day (mbpd), prompting local refiners and organised labour to renew calls for increased crude supply to domestic refineries and lower fuel prices.

President Bola Tinubu has approved the payment plan to finally settle the outstanding debts under the Presidential Power Sector Financial Reforms Programme.

‎Saudi Arabia’s non-oil private sector slipped into contraction in March for the first time in nearly five years, as escalating conflict in the Middle East disrupted supply chains and dampened business confidence.

OPEC+ is set to raise its oil production quota by 206,000 barrels per day (bpd) in May 2026, according to sources who spoke to Reuters.

Nigeria has stepped in as a crucial alternative supplier of aviation fuel to Europe, as US‑Iran tensions disrupt traditional Middle Eastern flows.

The Central Bank of Nigeria (CBN) has announced the successful conclusion of its banking sector recapitalisation programme, with Nigerian banks raising a total of ₦4.65 trillion over a 24-month period to strengthen the financial system and support economic growth.