Chartered Risk Management Institute of Nigeria (CRMI) has highlighted potential benefits for Nigeria such as increased production flexibility, expanded market share, and improved revenue prospects following the United Arab Emirates’ decision to exit the Organisation of the Petroleum Exporting Countries (OPEC).

However, the Institute cautioned that these opportunities come with significant risks, including exposure to price volatility, reduced protection from coordinated supply management, intensified competition, and mounting fiscal pressures.

In a statement signed by Victor Olannye, registrar/chief executive officer, described the development as a major shift in global oil governance, with far-reaching implications for market stability and international energy dynamics.

Olannye noted that the move could trigger increased oil price volatility, heightened geopolitical tensions, and disruptions across global energy supply chains.

He urged corporate organisations, public institutions, financial bodies, and risk professionals to reassess their risk frameworks and strengthen resilience in response to evolving global realities.

He identified key risks to include a potential weakening of OPEC cohesion, oil price instability, geopolitical uncertainty, supply chain disruptions, macroeconomic volatility, and the possibility of further exits by member states.

In line with its mandate to promote sound risk management and support national development, the Institute advised corporate organisations to implement robust risk management frameworks, adopt dynamic hedging strategies, and diversify their business portfolios.

Financial institutions and investors were also urged to reassess energy-related risks, strengthen portfolio diversification, and enhance risk disclosure practices.

CRMI further called on government and policymakers to reinforce fiscal buffers, accelerate economic diversification, and promote the transition to renewable energy.

Individual risk professionals were encouraged to upskill in geopolitical risk analysis and energy economics while developing expertise in scenario planning and predictive analytics.

The Institute emphasised the need for stakeholders to reposition proactively to navigate the evolving geo-economic landscape. It also projected possible scenarios, including fragmentation of global oil governance structures, increased reliance on market-driven pricing mechanisms, and an acceleration of global energy transition efforts.

The UK has announced a raft of new sanctions to curb production of Russian drones and the nefarious networks that are exploiting vulnerable migrants from across the globe to support Russia’s illegal war in Ukraine. The latest action hits 35 individuals and entities, including those responsible for human trafficking networks, funnelling exploited migrants into Russia’s war machine.

Networks sanctioned by the UK have been deceptively recruiting foreign migrants in search of a better life and either sending them to the front line as cannon fodder or putting them to work in weapons factories. This includes through schemes like Russia’s Alabuga Start programme for drone production at a UK-sanctioned entity.

Russia continues to terrorise Ukraine by indiscriminately using drones, killing, and injuring innocent civilians and damaging critical infrastructure. Russia fired the equivalent of over 200 drones per day into Ukraine in March 2026, the highest ever monthly total. Russia is likely to exceed this grim record for a second consecutive month in April.

These attacks rely on domestic manufacturers and third country suppliers providing key components and technical support. This new action is designed to disrupt these supply chains and hold those responsible to account by targeting the businessmen and companies fuelling Russia’s drone manufacturing capabilities.

Sanctions Minister Stephen Doughty said: “The practice of exploiting vulnerable people to prop up Russia’s failing and illegal war in Ukraine is barbaric.

“These sanctions expose and disrupt the operations of those trafficking migrants as cannon fodder and feeding Putin’s drone factories with illicit components to target innocent civilians and vital infrastructure.

“The UK continues to lead international efforts to disrupt Russia’s war machine, ramping up pressure on its economy and confronting its hybrid threats. We stand shoulder to shoulder with Ukraine in defence of European security and our shared values.”

Sanctioned targets also include individuals and entities based in third countries, including Thailand and China, responsible for supplying drone components and other critical military goods to Russia.

Among those sanctioned is Pavel Nikitin, whose company develops Russia’s VT-40 drone – a cheap, mass-produced attack drone which has been used extensively by Russia in its attacks on Ukraine.

Also sanctioned are three individuals with links to the Russian state involved in recruiting individuals to travel to Ukraine to fight for Russia.

This includes Polina Alexandrovna Azarnykh, who, backed by the Russian state, has been facilitating the travel of individuals from countries including Egypt, Iraq, Ivory Coast, Nigeria, Morocco, Syria and Yemen through Russia to Ukraine, where they are deployed with minimal training and under dire conditions to the frontline to sustain Russia’s illegal war of aggression.

The UK remains unwavering in its support for Ukraine and will continue to use the full force of its sanctions powers to disrupt Russia’s hybrid threats and squeeze the Kremlin’s war machine. These measures underline our determination to hold Russia and its enablers to account, defend European security and support Ukraine’s fight for freedom.

Charge d’Affaires and British Deputy High Commissioner in Abuja, Mrs. Gill Lever, said: “Today, the UK sanctioned Russian-linked networks and individuals involved in the deceptive recruitment of vulnerable Nigerian men and women, who were misled into joining Russia’s frontline in its war against Ukraine.

“These sanctions shine a light on those who seek to exploit vulnerable Nigerians to sustain Russia’s illegal war, including through schemes such as the Alabuga Start Programme.

“Such practices knowingly place innocent civilians in grave danger, showing a complete disregard for their safety and wellbeing. Tragically, some have already lost their lives as a result.

“In February, the Ministry of Foreign Affairs advised citizens to exercise caution and avoid these schemes. We intend that today’s sanctions will further reduce the risk of harm and help protect others from similar exploitation.”

FirstCap, an investment banking firm and subsidiary of FirstHoldCo Plc., has successfully closed the ₦4.46 billion Series 1 Bond Issuance by LAPO MFB SPV Plc, reinforcing its strong leadership in Nigeria’s debt capital markets and deepening access to long term funding for high impact sectors.

Acting as Lead Issuing House, FirstCap structured the fund raising on behalf of LAPO MFB SPV Plc (a company sponsored by LAPO Microfinance Bank Limited to mobilise institutional capital targeted at SME financing, renewable energy expansion, and digital financial services, three critical drivers of inclusive and sustainable economic growth in Nigeria.

The transaction is underpinned by a compelling impact thesis, with proceeds strategically deployed to support small businesses and clean energy initiatives. The microfinance sector continues to demonstrate resilience and strong fundamentals positioning the issuance at the intersection of growth, sustainability, and financial inclusion.

Commenting on the transaction, Ukandu E. Ukandu, Managing Director, FirstCap Limited, said: “This successful issuance underscores our strategic commitment to directing capital where it delivers measurable economic impact. At FirstCap, we partner with institutions that have the scale, discipline, and vision to transform markets, and LAPO exemplifies these qualities.

The ₦4.46 billion bond is positioned to be a catalyst for SME growth, expanded energy access, and broader financial inclusion. We remain committed to structuring transactions that are not only bankable, but impactful and aligned with Nigeria’s long term economic trajectory.”

FirstCap Limited remains committed to leading from the forefront of Nigeria’s capital markets, structuring transactions that are bankable, impactful, and investable, while supporting the future trajectory of Nigeria’s economic development.”