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Trump’s Iran tariff threat risks reopening China rift

US President Donald Trump’s threat to impose a 25 percent tariff on any country that trades with Iran is raising fears of a renewed rift with China, Tehran’s biggest commercial partner. Analysts say the move could drag Beijing back into a trade confrontation with Washington just as both sides were trying to stabilise ties.​ Trump announced on Monday that his administration is preparing the new tariffs as part of efforts to punish Iran over its crackdown on protests and to choke off the country’s oil revenues. The proposed measure would hit major buyers of Iranian crude and goods, including China, India and several countries in Asia.​ China has repeatedly criticised unilateral US sanctions and defended its energy and trade links with Iran as legitimate under international law. Beijing is also a key player in Iran’s oil, infrastructure and technology sectors […]

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Nigeria’s FX reserves hit $42bn, strongest in six years

Nigeria’s external reserves have climbed to their highest level in six years, crossing the $42bn mark for the first time since September 2019. Latest figures from the Central Bank of Nigeria (CBN) show reserves stood at $42.03bn on September 19, 2025, up from $41.99bn the previous day. This represents a $40m increase in one day and a sharp rebound from earlier lows this year. The last time reserves were higher was on September 26, 2019, when they reached $42.05bn. Since then, reserves have come under pressure from weaker oil prices, high import demand, and foreign capital outflows. Unlike past temporary spikes, the current rally has shown consistency. Reserves have grown for 13 out of 14 trading days in September, gaining $610.8m (1.47%) between September 1 and 19 alone. In the second half of the month, reserves rose by nearly $583m […]

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Nigeria supplies 67.6m barrels of crude to local refineries

The Federal Government says 67,657,559 barrels of crude oil were supplied to Nigerian refineries between January and August 2025. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed the figure, noting that deliveries went to both modular and state-owned refineries such as Waltersmith, Aradel Energy, and Nigerian National Petroleum Company Limited (NNPCL) facilities. Eniola Akinkuotu, Head of Media and Strategic Communications at NUPRC, explained that the supplies were made under the Petroleum Industry Act (PIA) 2021 and the Domestic Crude Supply Obligation (DCSO) policy, which requires producers to reserve a portion of crude for local processors before export. Despite this allocation, refiners received far less than they requested. Industry data shows local plants demanded 123.5 million barrels for the first half of 2025, but only 67.6 million barrels were delivered over eight months—about 45% less than required. Earlier projections suggested that […]

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