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Africa’s richest industrialist, Aliko Dangote, has called for urgent de-escalation of the ongoing Middle East conflict following a meeting with President Bola Ahmed Tinubu. The discussions focused on rising global oil market volatility and its potential economic impact on Nigeria and the broader African region.
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Dangote Meets Tinubu, Urges De-escalation of Middle East Conflict Amid Oil Volatility
Speaking after the meeting in Lagos, Dangote emphasised that although Nigeria is not directly involved in the conflict, the globalised nature of energy markets means the country will inevitably feel the impact, He warned that sustained tensions could drive oil prices higher, intensifying economic pressure on African economies already grappling with high debt levels and limited fiscal buffers.
World Economic Forum Postpones Saudi Conference Over Iran War
The World Economic Forum (WEF) has postponed its upcoming Global Collaboration and Growth Meeting in Saudi Arabia due to escalating tensions linked to the ongoing Iran war. The conference, originally scheduled for April 2026 in Jeddah, was deferred following consultations with Saudi authorities amid heightened geopolitical uncertainty.
Nigeria’s Housing Crisis Deepens as Cement Prices Hit ₦15,000
Nigeria’s housing sector is facing renewed pressure as rising cement prices now reaching as high as ₦15,000 per 50kg bag drive up construction costs and threaten affordable housing delivery. The Real Estate Developers Association of Nigeria (REDAN) has warned that the trend could stall housing projects and worsen the country’s housing deficit.
Nigeria Attracts Over $2.6bn FDI into Solid Minerals Sector in Two Years - Alake
Nigeria’s solid minerals sector has attracted more than $2.6 billion in foreign direct investment (FDI) over the past two years, signalling rising investor confidence in the country’s mining industry. The Minister of Solid Minerals Development, Dele Alake, disclosed the figure while highlighting the impact of ongoing sector reforms and policy initiatives.
Leadership Change at Eko DisCo as NERC Approves Adegbenro as Acting CEO
The Nigerian Electricity Regulatory Commission (NERC) has approved the appointment of Sherifat Adegbenro as acting Chief Executive Officer of Eko Electricity Distribution Company (Eko DisCo). The decision aims to ensure leadership continuity at one of Nigeria’s major electricity distribution companies amid ongoing sector reforms.NERC confirmed the appointment in a formal statement, noting that the decision aligns with corporate governance requirements within the Nigerian Electricity Supply Industry. The move is designed to maintain operational stability while the company proceeds with the process of appointing a substantive CEO.
The regulatory intervention reflects NERC’s oversight role in ensuring that distribution companies maintain effective leadership structures, particularly during periods of transition.
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