News
China Dumps Nigeria’s Oil, Heads for Angola
Nigeria has lost its status as Africa’s biggest exporter to Asia, particularly the China to Angola and this is coming as the latest oil and gas outages by oil giants, ExxonMobil and Shell continues to reduce Nigeria’s production, denting the nation’s reputation as a reliable energy supplier.
Exxon warned customers of supply disruptions from Nigeria’s biggest oil stream Qua Iboe on Thursday, and Shell said gas supplies to one of the world’s largest liquefied natural gas terminals would be delayed. Both are due to pipeline damage.
Nigeria’s oil has been highly sought after for decades by the United States because it is easier to refine into gasoline, but the world’s biggest economy is increasingly serving its fuel needs domestically.
Asian buyers have a far greater choice of oil producers in Africa than a few years ago, especially Nigeria’s West African neighbour Angola, which often provides China with more oil than Nigeria.
“The timing of the force majeure on Exxon Mobil’s Qua Iboe oil grades could not be more stark,” said Rolake Akinkugbe, head of oil and gas research at Ecobank, a leading West African bank.
“Nigeria’s first quarter in oil cargo market has already suffered a slump in demand mostly from North American and Asia.”
The demand for imports is falling in the United States and Asia has an increasing choice of suppliers.
The latest outages follow a raft of problems at the end of last year when four oil majors – Shell, Exxon, Total and Eni – announced outages due to rampant oil theft and the worst floods Nigeria has seen in 50 years.
Ecobank estimates in the last year that oil theft and pipeline vandalisation cost Nigeria up to $7 billion in revenue from its two million barrel per day crude export business.
Exxon said despite declaring force majeure – an inability to fulfill contracts due to unexpected events – on Qua Iboe exports, which can reach 400,000 bpd, it continued to produce the benchmark grade and the export terminal was open.
The Chartered Institute of Bankers (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) have enjoined banks to further deepen and prioritize financial inclusion, women’s empowerment and sustained growth through strategic mandates and frameworks, aimed at closing the financial gap and empowering more small, and medium enterprise (MSME) owners.
Both organisations made this call during a courtesy visit to the newly invested 24th President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Dele Alabi, Ph.D, FCIB, as part of plans to congratulate him on his investiture as well as seek a stronger alliance between both bodies.
The visit followed Alabi’s investiture where he unveiled his “IMPACT” Vision, themed “Consolidating Our Local Impact, Enhancing Our Global Relevance.”
The vision rests on six pillars: Inclusion across geographic, gender, and generational lines; Membership growth and quality; Professionalism and ethics; Accountability; Competencies and skills development; Technology, automation, and innovation. Other areas of shared interest, include women empowerment, financial inclusion and literacy, as well as MSME clinics, all of which are top on his agenda.
Alabi explained that under him, the institute will be prioritising financial inclusion and women empowerment, because of its realisation that women are often the primary financial managers and caregivers in families. Access to savings, micro-credit, and insurance acts as a safety net during crisis and allows them to significantly improve living conditions.
He added that CIBN would be happy to drive joint knowledge sharing and exchange sessions with CBN and ACAMB across various platforms. “Educating the public through public awareness programmes, with ACAMB as the rallying point, is central to what we do,” he noted.
ACAMB President, Jide Sipe, who led the delegation, spoke in unison with the CIBN president, as he noted that, closing the inbalances in financial access help economies grow faster, reduces inequality, and encourages greater civic participation by all.
Lagos State has become the first sub-national government in Nigeria to establish a comprehensive Greenhouse Gas Registry, a move aimed at strengthening climate governance, improving emissions accountability and accelerating the state’s transition to a low-carbon economy.
The Lagos State Greenhouse Gas Registry (LGHGR) was unveiled at the Central Business District, Alausa, Ikeja, at a ceremony attended by Prof. Akin Abayomi, commissioner for Health, members of the State Executive Council, representatives of the Federal Ministry of Environment, development partners, TPHG Technologies, the diplomatic and business communities, academics, civil society organisations and the media.
Describing the initiative as a landmark achievement in the state’s environmental sustainability drive, Dr. Babatunde Ajayi, general manager of the Lagos State Environmental Protection Agency (LASEPA), said the Registry marks a defining moment in Lagos’ climate action journey and reflects Governor Babajide Sanwo-Olu’s commitment to building a resilient, climate-smart and environmentally sustainable economy.
According to Ajayi, the digital platform will enable the state to accurately measure, monitor, report and verify greenhouse gas emissions across key sectors, providing credible data to guide environmental policies and climate interventions.
He said the Registry would strengthen evidence-based decision-making, improve transparency and accountability, support national and international climate reporting obligations, unlock carbon market opportunities and boost investor confidence in Lagos’ environmental initiatives.
Ajayi also commended TPHG Technologies for providing the technical expertise that made the pioneering project possible.
Delivering the keynote address, Prof. Abayomi described the Registry as a major milestone that positions Lagos at the forefront of climate governance and emissions accountability in both Nigeria and Africa.
He noted that climate change has evolved into a significant public health and governance challenge, stressing that access to reliable emissions data would enable the state to formulate evidence-based policies, attract climate financing, strengthen resilience and accelerate its transition to a low-carbon economy.
Providing insights into the technical framework of the project, Dr. Mofoluso Fagbeja, lead consultant and chief executive officer, TPHG Technologies, explained that the Registry was developed from the greenhouse gas inventory jointly undertaken by LASEPA and TPHG Technologies in 2022, using 2019 as the baseline year for emissions assessment.
He said the platform is designed to close critical emissions data gaps, particularly within the industrial sector, while supporting effective climate policy implementation, emissions management and sustainable development.
Fagbeja also disclosed that the greenhouse gas inventory estimated that poor air quality contributes to about 35,000 premature deaths annually in Lagos, underscoring the urgent need for stronger emissions control measures and cleaner environmental practices.
In a goodwill message, Balarabe Abbas Lawal, minister of Environment, represented by Mrs. Adenaike Olunimpe Oludunni, federal controller of Environment in Lagos, commended Lagos State for pioneering the initiative, describing it as a significant contribution to Nigeria’s climate commitments.
He said the Registry aligns with the country’s Nationally Determined Contributions (NDCs) under the Paris Agreement and supports the Federal Government’s Energy Transition Plan, while reaffirming the ministry’s commitment to deeper collaboration with Lagos State on climate governance and environmental sustainability.
A recently released Henley Passport Index 2026, showed that Nigerian citizens can travel to at least 20 destinations outside the African continent where entry is allowed either visa-free, with a visa on arrival (VOA) at no extra cost, or via an e-visa.
This expanded access opens doors for Nigerian travellers to experience countries in the Caribbean, Asia, and beyond with greater ease.
Below is a comprehensive guide to countries outside Africa which Nigerian passport holders can visit without a traditional visa.
Visa-Free Countries outside Africa for Nigerian Passport Holders:
Barbados
Cambodia – Visa on arrival
Comoros Islands – Visa on arrival
Cook Islands
Dominica
Fiji
Haiti
Iran – Visa on arrival
Kiribati
Lebanon
Maldives – Visa on arrival
Micronesia
Montserrat
Niue – Visa on arrival
Palau Islands – Visa on arrival
Samoa – Visa on arrival
St. Kitts and Nevis
Timor-Leste – Visa on arrival
Tuvalu
Vanuatuul
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