Tag
ISRAEL-IRAN CONFLICT
Airspace restrictions across Qatar, the UAE, Bahrain, and Kuwait have been lifted following a night of heightened military tensions between the United States and Iran.
President Donald Trump of the United States on Monday evening announced a complete and total ceasefire between Israel and Iran, bringing an end to what he described as the “12-Day War.”
Iran's parliament has approved the closure of the strategically crucial Strait of Hormuz, a vital waterway for global oil shipments, in a significant escalation of tensions in the Middle East region.
MRS Oil Nigeria Plc, a key distributor of Dangote Refinery’s petroleum products, has announced a significant hike in the pump price of Premium Motor Spirit (PMS), commonly known as petrol.
President Donald Trump announced that U.S. military forces, in coordination with Israeli defense units, carried out targeted airstrikes on three of Iran’s major nuclear facilities, marking a dramatic escalation in the Middle East conflict and raising global concerns over the potential for a wider regional war.
Bitcoin consolidated on Thursday, while the wider crypto market remained subdued amid heightened tensions in the Middle East and a hawkish U.S Central Bank.
The Federal Government has announced plans to evacuate its citizens currently stranded in Israel and Iran as the conflict between the two nations enters its sixth day.
The naira maintained its bullish momentum at the unofficial market as it cracked below the N1600/$ resistance line, while the greenback fell in the global foreign exchange market.
Analysts at Comercio Partners have noted that the ongoing oil-related tensions between Israel and Iran might affect global crude oil supply, which could impact Nigeria’s economy negatively.
Foreign direct investment (FDI) and portfolio inflows into the economies of Nigeria and other West African nations may sharply fall as a result of the Israel-Iran conflict.
Nigerian crude climbed to its highest level of 2025, closing Friday at $77 a barrel.
The Federal Government has called for an immediate end to hostilities between the Islamic Republic of Iran and the State of Israel, urging both parties to exercise maximum restraint in the interest of regional and global peace.