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Brent crude rose to about $107 a barrel as Middle East attacks threatened supply through the Strait of Hormuz, a windfall and a cost for Nigeria.

NNPC Limited reported a 33% rise in profit after tax to N7.2 trillion for 2025, even as revenue fell 24%, with crude output at a five-year high of 1.77m bpd.

Africa's largest economy posted a record quarterly trade surplus in the second quarter of 2026 as exports outpaced imports, with non-crude receipts now accounting for more than half of outbound trade.

According to the minister, Nigeria was producing less than one million barrels per day of crude oil and condensate when the current...

Softer crude prices and maintenance downtime are expected to weigh on results.

March trade flows marked a structural shift for a country that spent decades importing petrol despite being one of Africa's largest crude producers.