Crude oil prices have surged to above $112 per barrel as the
Iran-United States-Israel war escalation entered day 21 on Saturday amid a
surge in domestic petrol prices in Nigeria.

Brent crude rose by 3.26 percent on a day-to-day basis to
$112.2 per barrel, and West Texas Intermediate crude blend increased by 2.80
percent to $98.23 per barrel as of filing the report.

The crude oil price upsurge comes as the US, Israel, and
Iran have not been able to agree on a ceasefire deal.

Trump, in a post on his Truth Social, had hinted at ‘winding
down’ its military actions in the Middle East.

Unperturbed about Trump’s disposition, Iran on Saturday
fired missiles at the Chagos Islands, a remote British overseas territory
located more than 2,000 miles from Tehran, Iran’s semiofficial Mehr news agency
reports.

This comes after the United Kingdom Prime Minister Keir
Starmer hgave the US approval to use its bases for strikes against Iran.

Earlier, Iranian Foreign Minister Seyed Abbas Araghchi
warned PM Starmer that his actions were putting British lives in danger.

Part of the direct effect of the Iran-US-Israel war is a
hike in the domestic price of petrol. On Friday Dangote Refinery, which is
Africa’s largest plant, increased its gantry fuel price for the fourth time in
March 2026 to $1,245 per liter. The decision had caused some petroleum
marketers and filling station owners in Nigeria to hike their petrol pump price
to between N1,331 and N1,430 per liter in Abuja.

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Charles Soludo, Anambra state governor, says his
administration’s clampdown on native doctors is to curb criminal practices.

In a media briefing in Akwa, the state capital, on Friday,
Soludo said he is not against traditional religion, but he’s only targeting
criminals who operate under the guise of traditional worship.

Soludo said his administration respects and supports freedom
of religion and gives free rein to residents to practice their religion if it
is devoid of criminality.

“We have made this very clear over and over again that we
understand traditional religion,” the governor said.

“We also understand the difference between the traditional
religion and criminal idolatry. We support freedom of worship, freedom of
religion. Anybody can worship the way you want, provided you realise that your
own right ends where the other person’s own starts.

“Where your own practices and preaching now breed
criminality, that is where we come in. Traditional religion is a purist
religion.”

The governor said some native doctors were involved in
preparing charms for kidnappers and armed robbers.

Soludo said it is the duty of the state government to stop
diabolical rituals that have given rise to evil practices such as ‘Ego Mbute,’
‘Oke-Ite,’ ‘Yahoo Plus,’ and idolatry.

The state government had recently arrested and prosecuted
some native doctors for alleged violations.

Recall that a high court in Awka, Anambra, sentenced
Chidozie Nwangwu, the popular native doctor known as Akwa Okuko, to 11 months’
imprisonment over money ritual-related offences.

The native doctor was apprehended in February 2025 by
operatives of Agunechemba security outfit on allegations of aiding and abetting
kidnapping and money rituals, among others.

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Jehovah’s Witnesses have announced a major clarification on blood transfusions, giving members the right to choose whether their own blood can be used during surgery or other procedures.

The move maintains the ban on transfusions of another person’s blood but allows individual discretion in life-saving treatments.

Religious reasoning and biblical guidance

In a video statement released on their website on Friday, Governing Body member Gerrit Lösch said the clarification aims to give Christians the freedom to make personal decisions regarding the use of their own blood during surgeries or other medical treatments.

He emphasised that while Christians must abstain from blood as a doctrinal principle, the Bible does not comment on using one’s own blood in medical care.

“Regarding the use of one’s own blood…a Christian must decide for himself how his own blood will be handled in the course of a surgical procedure, medical test, or current therapy,” he said.

He cited biblical instructions from Noah and the Mosaic Law, noting that Christians today are not bound by the command to pour out blood and cover it with dust.

According to him, many members already accept procedures involving their own blood, including blood tests, heart-lung machines, cell salvage devices, and kidney dialysis.

Lösch further explained that Christians may now choose whether their blood is removed, stored, and returned during surgery.

“Some Christians may decide that they would allow their blood to be stored and then be given back to them. Others may object. Each Christian must make his personal decision on all matters involving the use of his own blood with regard to medical or surgical care,” Lösch added.

Nigeria spotlight: the AuntieEsther case

The debate has taken on renewed attention in Nigeria following the death of cancer patient and social media personality, Mensah Omolola, also known as AuntieEsther, who died in December 2025.

She publicly rejected a blood transfusion recommended by doctors, citing her faith, and instead chose alternative treatments supported by Nigerians who donated over ₦30 million.

Despite warnings from her church about possible disciplinary action, including disfellowship, she followed her beliefs. Her passing has sparked national debate on the tension between faith and medical guidance.

Jehovah’s Witnesses’ clarification now allows members to exercise personal choice regarding their own blood, reflecting both their religious principles and modern medical possibilities.

Historical context: why blood is avoided

The prohibition on receiving blood transfusions has long been a defining principle for Jehovah’s Witnesses, rooted in biblical teachings rather than medical concerns.

A 2019 statement clarified common misconceptions, emphasising that Witnesses do not reject medical care. “God views blood as representing life. So we avoid taking blood not only in obedience to God but also out of respect for him as the Giver of life,” the statement said.

The guidance stems from multiple passages in both the Old and New Testaments, including Genesis 9:4, Leviticus 17:10, Deuteronomy 12:23, and Acts 15:28–29, which instruct abstaining from blood.

Over the years, Witnesses have consistently sought the best available medical care, adapting modern procedures to align with their faith.

The statement also debunked myths, noting that Witnesses do not rely on faith healing and that avoiding blood transfusions does not automatically result in worse outcomes.

Bloodless techniques, including cell salvage, heart-lung machines, and dialysis, allow patients to receive high-quality care while adhering to religious principles.

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The two remaining cocoa farmers abducted during a visit to the Cocoa Research Institute of Nigeria (CRIN) in Ibadan on Saturday have been rescued.

Reports indicated that the victims were freed following a coordinated operation by security agencies, bringing the total number of rescued individuals to four.

Earlier, police authorities had secured the freedom of two of the victims and apprehended three individuals suspected to be connected to the abduction within 24 hours of the incident.

Sources also revealed that the kidnappers had initially demanded a ransom of N100 million before the victims were freed.

In a telephone interview, the Chairman of Oluyole Local Government, Akeem Olatunji, confirmed that all the abducted farmers have now regained their freedom.

He explained that the successful rescue was the result of coordinated efforts among multiple security agencies, including the Police, the Directorate of State Services (DSS), the Western Security Network codenamed Amotekun, and local vigilante groups in Oluyole.

Olatunji further stated that the rescue team has since handed the victims over to the police.

He noted that the operation was coordinated by the Security Adviser to the Oyo State Governor, retired Commissioner of Police Fatai Owoseni.

The council chairman expressed appreciation to the security operatives for their “concerted efforts” and reassured residents of his commitment to continued collaboration with relevant agencies to ensure the safety of lives and property in the area.

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The National Youth Service Corps has expressed deep sorrow over the death of a female corps member in Abeokuta, Ogun State, confirming that a staff member is under investigation in connection with the incident.

In a statement on Saturday signed by its Director of Information and Public Relations, Caroline Embu, the Scheme said it was “deeply saddened by the loss of a Corps Member… under circumstances that are currently being investigated.”

The deceased, identified as Victoria Ariyo, was serving in Abeokuta South Local Government Area. Her death is currently being probed by the Ogun State Police Command.

“We extend our heartfelt condolences to the family of the deceased and pray for the peaceful repose of her soul,” the NYSC said. It added that “the matter is currently under investigation by relevant security agencies, and the individual concerned has been taken into custody,” the scheme said.

It was earlier reported that Police spokesperson DSP Oluseyi Babaseyi confirmed the investigation, stating, “I can confirm that the case of the demise of Victoria Ariyo is under investigation by the State Criminal Investigation Department.”

Sources familiar with the case alleged that Ariyo died from complications arising from an abortion procedure. It was further gathered that an NYSC official, reportedly in a romantic relationship with the deceased, had been taken into custody, although authorities have yet to officially confirm the circumstances surrounding her death.

Reaffirming its stance, the NYSC said it “maintains a strict code of conduct for its staff and Corps Members and will not condone any act of misconduct or abuse of office,” adding that it is “cooperating fully with law enforcement authorities to ensure that the truth is established and that justice is served.”

The Scheme also urged restraint, noting that “while investigations are ongoing, we urge the public to refrain from speculations and allow due process to take its course,” while reiterating that “the welfare, safety, and dignity of our Corps Members remain paramount.”

The incident comes amid growing concern following the recent death of another corps member, Adeleye Mary, who was also serving in Abeokuta South Local Government Area. She was reportedly found lifeless in her residence near her place of primary assignment, with the cause of her death still unknown.

Both deceased corps members were said to be friends, raising unease among colleagues and residents, especially as Ariyo’s remains were reportedly buried at Kobape Cemetery along the Kobape-Sagamu Road. Investigations into the circumstances surrounding the deaths are ongoing.

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A police inspector, Otor Ejiga, attached to the Mega IDP Camp situated along Gbajimba Road in Makurdi, Benue State, was fatally shot by unidentified gunmen on Thursday evening.

The officer was reportedly attacked while operating an unauthorised solitary checkpoint close to the camp.

Following the incident, the assailants allegedly fled the scene with his Type O6 rifle.

A responding patrol team later recovered his remains and moved them to the Benue State University Teaching Hospital mortuary for an autopsy.

Sources indicated that security agencies have commenced a manhunt to apprehend those responsible and retrieve the stolen firearm.

It is also gathered that a full-scale investigation has been initiated, while the officer in charge has been queried over suspected supervisory negligence.

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Two people have died following a collision between a
fuel-laden tanker and a tipper truck on the Lekki–Epe Expressway, Sangotedo
area of Lagos state.

In a statement on Saturday, Margaret Adeseye,
controller-general of the Lagos State Fire and Rescue Service, said the
accident occurred in the early hours of the day, prompting officers to rush to
the scene.

“It was reported that a speeding 20-tonne tipper truck from
the Epe end rammed into a stationary 30-tonne gas tanker that failed to pull
over from the highway,” the statement reads.

Adeseye said the collision sparked a fire that spread to
three warehouses and 10 roadside shops, including a gym and a generator house,
before it was eventually brought under control.

She added that a Total petrol filling station, fully loaded
with a 33,000-litre PMS tanker, narrowly escaped a major explosion.

“After the blaze was extinguished, three Sienna buses, one
Toyota Corolla, and a forklift parked within the affected area were recovered.
Tragically, the tipper truck driver and his assistant, both adult males, were
burnt beyond recognition, while the gas tanker driver escaped unhurt,” Adeseye
said.

The agency said that efforts are ongoing to remove the
remains of both trucks from the highway, though normal traffic has largely
resumed at the scene.

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Olayemi Cardoso, governor of the Central Bank of Nigeria
(CBN), says recent monetary and financial sector reforms have strengthened
Nigeria’s ability to withstand external shocks and restored investor
confidence.

In a statement on Wednesday, CBN said Cardoso spoke on
Tuesday at the Africa Capital Forum in London, held on the sidelines of Bola
Tinubu’s state visit to the United Kingdom.

The forum, themed “From Stabilisation to Capital
Mobilisation,” was jointly hosted by the CBN and the UK Foreign, Commonwealth
and Development Office (FCDO).

He said the apex bank has “created stronger capacity to
withstand shocks” through policy tightening and institutional reforms.

The CBN governor said the foreign exchange (FX) market now
operates with improved transparency and liquidity following recent reforms.

According to Cardoso, a new FX manual has removed several
capital control measures and simplified trade and investment processes.

Cardoso added that the bank has finalised a new payments
system vision aimed at strengthening Nigeria’s position in digital and
cross-border payments.

On the banking sector, the apex bank chief said more than 30
banks have met the new capital requirements, while verification is ongoing for
others.

“About 28 percent of investment in the recapitalisation came
from foreign sources,” he said.

Cardoso added that the development reflects renewed
confidence in Nigeria’s financial system.

The governor also noted that diaspora remittances have
increased, contributing to the diversification of the country’s foreign
exchange inflows.

He said inflation has moderated while exchange rate
stability has improved following recent policy measures.

“We will continue to maintain stability, not only on
inflation, but in the FX market, with more transparency and consistent
reporting,” he said.

The CBN governor added that the apex bank will remain
vigilant in managing inflation.

“Our focus going forward is to protect the hard-earned
stability we have accomplished so investors and stakeholders can plan with
confidence,” he said.

Cardoso also emphasised the need for coordination between
monetary and fiscal authorities to sustain economic growth.

He said the inclusion of fiscal authorities in the bank’s
board and monetary policy committee strengthens policy alignment.

The apex bank chief also said the CBN is working with
financial technology firms to address regulatory bottlenecks and support
innovation in digital finance.

He added that ongoing reforms have shifted Nigeria from a
phase of stabilisation to capital mobilisation, positioning the economy for
growth, driven by domestic investment and improved global confidence.

Also at the event, Muhammad Sani Abdullahi, CBN deputy
governor for economic policy, said the apex bank has achieved a significant
level of macroeconomic stability.

“We have seen stability. Net and gross reserves are high,
foreign reserves are over $50 billion, the foreign exchange market has
stabilised, and inflation is falling , but we are cautious,” Abdullahi said.

Philip Ikeazor, CBN deputy governor for financial system
stability, said the reforms are designed to endure beyond the current
administration.

“All the reforms that have been put in place cut across
stakeholders, ensuring that even at the end of this administration, people will
see the need not to reverse them,” Ikeazor said.

‘NIGERIA’S NEXT REFORMS SHOULD FOCUS ON TRANSLATING INTEREST
TO CAPITAL FLOWS’

Jonny Baxter, British deputy high commissioner to Nigeria,
said the next phase of reforms should focus on translating renewed investor
interest into tangible capital inflows.

“The next phase of the reforms should be converting renewed
investor interest into long-term sustainable investments,” Baxter said.

He added that the UK remains a key partner in Nigeria’s
banking and capital markets.

Odile Renaud-Basso, president of the European Bank for
Reconstruction and Development (EBRD), also highlighted Nigeria’s economic
potential.

“We see all the potential in the economic stabilisation in
Nigeria, the growth of the population, the appetite, the investment in new
technologies, and the ability of the people to embrace new technologies,” she
said.

On his part, Steve Gray, head of West and Central Africa at
UK Export Finance (UKEF), emphasised the role of transparency in sustaining
investor confidence.

“Confidence is built through full fiscal transparency. But
the reforms in Nigeria are providing transparency and building confidence,”
Gray said.

Melis Ekmen Tabojer, managing director for policy strategy
and delivery at the EBRD, said the reforms are already influencing investor
behaviour.

“The recent reforms that Nigeria has had have had a huge
impact in attracting investors and how policies are made,” she noted.

Speaking on behalf of the federal government, Sanyade Okoli,
special adviser to the president on finance and the economy, said Nigeria is
now focused on attracting long-term capital to drive growth.

“We need to work with partners who will bring the sticky,
equity capital,” she said, noting that the government alone cannot fund the
country’s growth ambitions.

Banking sector leaders, including chief executives of major
Nigerian lenders, also backed the reforms, saying they have improved confidence
and strengthened the capacity of banks to finance projects.

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The Nigeria Sovereign Investment Authority (NSIA) has signed
a memorandum of understanding (MoU) with Asset Green Limited to develop an
integrated dairy production platform in the West African nation.

Asset Green Ltd is a UK‑based private investment group,
focused on large‑scale, commercially viable agricultural and food‑processing
platforms across emerging markets via its agri-food investment platform Agrium
Capital Ltd.

The agreement was signed on Tuesday in London ahead of
President Bola Tinubu’s state visit to the United Kingdom (UK), according to a
statement on Wednesday from the British high commission in Nigeria.

The commission said the project would transform Nigeria’s
dairy sector and strengthen national food security.

The commission said the MoU provides a framework for
collaboration and project development, which will culminate in a formal
shareholders’ agreement.

The initiative is said to be ranked among Nigeria’s most
ambitious dairy investments, combining 20,000 hectares of climate-smart forage
production with a 10,000-milking cow operation.

The project is also expected to include a processing
facility to produce fresh milk, milk powder, butter, cream, and up to 15,000
metric tonnes of infant formula annually.

“Designed to reduce Nigeria’s reliance on imported milk
powder, the project will modernise agricultural practices, improve nutrition,
and integrate up to 10,000 rural households into the supply chain through
inclusive out‑grower schemes,” the statement
reads.

“Once operational, the platform is expected to generate over
US$620 million annually and create 2,500 direct and 5,000 indirect jobs
nationwide.”

Jonny Baxter, British deputy high commissioner to Nigeria,
said the partnership reflects enduring economic ties between Nigeria and the
UK.

Baxter noted that the UK supported the establishment of the
NSIA more than a decade ago by providing legal and financial expertise that
strengthened its governance.

“That early investment has paid dividends, helping build a
resilient institution capable of driving long-term development,” he said.

The envoy described the NSIA-Asset Green collaboration as a
“full-circle moment” in bilateral relations and a signal of shared commitment
to sustainable growth.

Also speaking on the deal, Aminu Umar-Sadiq, the managing
director and chief executive officer (CEO) of NSIA, said the project is a
transformative investment valued at nearly $500 million.

“By combining climate-smart farming, advanced processing and
inclusive out-grower participation, we are building a modern, competitive dairy
sector,” he said.

“This will reduce import dependence, create jobs and deliver
long-term value for Nigerians.”

Also commenting, Rod Bassett, director at Asset Green, said
the partnership would unlock Nigeria’s agricultural potential.

Bassett, who is also chief executive officer of Agrium
Capital Ltd., said the greenfield investment would develop infrastructure,
boost local production, and cut import dependence.

He added that the project would support environmental
sustainability while strengthening food sovereignty and nutritional resilience.

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