The average price of gasoline in the United States has surged to $4 per gallon, marking the first time fuel costs have reached that level since 2022, according to a report by CNN on Tuesday.
International airlines flying between Nigeria and the Middle East have lost more than ₦7.5bn in revenue after escalating conflict involving the US, Israel, and Iran.
The United States has slashed its imports of Nigerian goods by 41 per cent in just one month, raising alarm over the fragile state of Nigeria’s trade relations with one of its most strategic global partners.
The United States became a net exporter of crude oil to Nigeria in February and March, as crude demand on the U.S. East Coast slowed due to refinery maintenance, and the Dangote refinery drove up Nigeria’s demand for inputs.
The United States imported Nigerian crude oil worth $1.34 billion between January and May 2025, reinforcing Nigeria’s position as America’s top African crude supplier despite growing pressures on broader trade flows.
