…to 1.4 million barrels per day. Umar said the authority is working to address crude oil supply shortages faced by local refineries and ensure compliance with the Domestic Crude Supply Obligation (DCSO) under the Petroleum Industry Act (PIA)."The Federal Government wishes to end the pattern where much of the country's c…

…is essential to managing the country’s strategic and security stocks, preventing supply shortages, safeguarding competition, and mitigating excessive market concentration.” The association also warned that Nigeria’s long-term fuel supply should not depend on a single refinery and called for the establishment of a Natio…

…safeguard energy security. Isong argued that strategic imports remain important during supply shortages or market disruptions to prevent scarcity and price spikes. He recommended the creation of a strategic petroleum reserve capable of sustaining at least 60 days of national fuel consumption to protect the country agai…

…in producing communities. “The result is that consumers may continue to experience supply shortages and renewed price increases for key staples. “To avert shortages of rice, tomatoes, peppers, onions and other staple foods over the next three months, Nigeria needs coordinated action from the federal government, state g…

…tanker traffic through the Strait to a two-month low, fuelling concerns over potential supply shortages during the peak summer demand season. Regional tensions escalated further after Yemen’s Iran-backed Houthi movement announced an immediate naval blockade of Saudi Arabia, threatening an alternative export route used…

Nigeria's LPG imports skyrocketed 1,400% to 1.5 KT/d in June 2026, addressing severe supply shortagesDaily LPG consumption increased by 24%, with imports providing nearly 30% of total supply to meet demand.Price reductions in LPG offer hope for families amid rising living costs, but long-term solutions are neededFind i…

…at Oyingbo Foodstuff Market, Mr Udoka Umeaku, said the increase was driven mainly by supply shortages rather than exchange rate fluctuations. "A 30kg sack of stockfish head now sells for about N500,000, compared to N385,000 around December last year. "From January until February, we were still selling at N385,000 befor…

…investments in farm rehabilitation, disease control and improved incomes for farmers, supply shortages would persist while demand remains resilient, creating another surge in prices. According to him, West Africa’s leading cocoa-producing countries lost about 40 per cent of their harvests during the 2023 and 2024 seaso…