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international

Trump plans prolonged blockade of Iran, says report

President Donald Trump has told his aides to prepare for a prolonged United States naval blockade of Iran’s key shipping routes, including the Strait of Hormuz, according to US media reports. The move is part of efforts to intensify economic pressure on Tehran as the war enters its third month and peace efforts remain stalled. Trump has already ordered the US Navy to block ships heading to or from Iranian ports, a step aimed mainly at choking off Iran’s vital oil exports. He has repeatedly said Iran will never be allowed to develop a nuclear weapon and insists any settlement must be on US terms. In meetings with senior advisers, Trump decided that maintaining and even extending the blockade was a less risky option than resuming large scale bombing or withdrawing from the conflict entirely. Analysts say Washington wants to […]

Abdulmumini Auwal SA April 29, 2026

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international

Iran boosts Kharg Island oil exports despite ongoing war

Iran’s oil exports from Kharg Island have increased despite the ongoing war with the United States and Israel, according to Iranian officials and local media. Kharg is Iran’s main export terminal and handles the vast majority of the country’s crude shipments. Moussa Ahmadi, head of the Iranian parliament’s energy commission, said that inspections and meetings on the island showed that oil exports have not decreased in recent days but have actually gone up. His comments were carried by Iran’s ISNA news agency. Kharg Island normally handles around 90 to 95 percent of Iran’s crude exports, estimated at about 1.7 to 2 million barrels per day before the latest escalation. Despite air strikes on military targets there, US officials have said they deliberately avoided hitting oil loading infrastructure, allowing exports to continue. Maritime data firms report that crude loading at Kharg […]

Abdulmumini Auwal SA April 4, 2026

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international

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 […]

Abdulmumini Auwal SA January 13, 2026

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Nigeria

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 […]

Abdulmumini Auwal SA September 23, 2025

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Nigeria

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 […]

Abdulmumini Auwal SA September 22, 2025

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