General News
UAE’s Exit from OPEC: Eroding Pricing Power, Saudi Arabia’s Response, and the Implications for Nigeria

By Uwadiae Osadiaye
In a move that has sent ripples through global energy markets, the United Arab Emirates (UAE) announced on April 28, 2026, that it will formally withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ alliance effective May 1.

The UAE, one of OPEC’s largest and most capable producers with output around 3.2–3.6 million barrels per day (bpd) and significant spare capacity, cited national interests and the need for production flexibility amid the ongoing energy crisis linked to Iran-related disruptions.
This departure marks a historic fracture in the nearly 60-year-old cartel and follows precedents like Angola’s 2024 exit over quota disputes. For Nigeria, Africa’s largest oil producer and a longtime OPEC member, the implications centre on weakened cartel cohesion, diminished pricing power, and direct pressure on revenues.
Impact on Oil Prices and OPEC Pricing Power
Free from quotas, the UAE is expected to ramp up production toward 5 million bpd. While current supply disruptions may limit the immediate effect, the added volume will exert downward pressure on prices and increase volatility in the medium to long term. Analysts point to potential declines of $5–7 per barrel once markets normalize.
More critically, the exit undermines OPEC’s core pricing power. The UAE brought meaningful spare capacity; its departure leaves Saudi Arabia carrying a heavier burden for any future production cuts needed to stabilize prices. This makes defending price levels more costly and less effective for the Kingdom.
Saudi Arabia’s Response: A Strategic Setback and Managed Rift
Saudi Arabia, OPEC’s de facto leader, regards the UAE exit as a significant blow to its influence. Riyadh has kept public reactions measured, emphasising the resilience of deep trade, investment, and logistical ties between the two economies. Analysts note that a full economic rupture would harm both sides and is unlikely amid shared regional threats.
Behind the scenes, however, the move exposes and widens longstanding rifts over oil quotas, Yemen, Sudan, and regional influence. It forces Saudi Arabia to shoulder more of the stabilisation burden alone, weakening its ability to enforce discipline across the group. The exit is seen as the UAE asserting autonomy and rejecting Saudi-led oil governance. A recent Gulf summit was described positively by UAE officials, indicating efforts to contain fallout.
This response highlights Saudi Arabia’s recalibration: maintaining core OPEC leadership while adapting to a less reliable alliance structure. It may push Riyadh toward more unilateral production decisions or tighter coordination with remaining compliant members.
Domino Risks and Further Erosion of Influence
Venezuela, with vast reserves and recovering output, emerges as a potential next candidate for greater independence or even exit, alongside other quota-frustrated producers. A cascade of departures could render OPEC largely symbolic, leaving global oil prices driven primarily by market forces rather than coordinated cuts. This would likely result in a structurally lower price floor and higher volatility.
Direct Effects on Nigeria
Nigeria remains heavily dependent on oil for export earnings and government revenue. With production often falling short of its ~1.5 million bpd OPEC quota (recent figures around 1.38 million bpd amid theft, vandalism, and infrastructure issues), the country has limited ability to offset price weakness through higher volumes.
Softer prices or sustained volatility would widen fiscal deficits, pressure the naira, and complicate budgets benchmarked around $65–70 per barrel. Angola’s experience showed that quota freedom alone does not guarantee production gains when structural problems persist- Nigeria risks similar constraints. A weaker OPEC, with reduced Saudi leverage to enforce discipline, further diminishes the “price floor” protection African producers have relied upon.
In this environment, Nigeria’s longstanding challenges – upstream security, investment attraction, and economic diversification – become even more urgent. While the country has reaffirmed commitment to OPEC, the cartel’s diminishing pricing power (exacerbated by the Saudi-UAE rift) means future revenue stability cannot be taken for granted.
Outlook: Navigating a More Fragmented Oil Order
The UAE’s exit, Saudi Arabia’s measured but strained response, and the resulting erosion of OPEC cohesion signal a structural decline in the cartel’s pricing influence and a more market- driven oil era. For Nigeria, this heightens fiscal and currency risks tied to its oil dependence while underscoring the limits of relying on collective producer power.
In the short term, elevated prices from geopolitical disruptions may provide a temporary buffer. Over the medium to long term, however, increased supply from the UAE (and potentially others) combined with weaker coordination could sustain volatility and a softer price environment. Saudi Arabia’s heavier stabilisation role may lead to more pragmatic quota adjustments or unilateral actions, but it also risks exposing fractures that smaller members like Nigeria cannot easily exploit.
Conclusion
Nigeria’s path forward requires decisive action. Upstream priorities should include intensified security operations against oil theft, accelerated infrastructure upgrades, and targeted incentives to attract investment – addressing the chronic underproduction that has left the country unable to capitalise on quota flexibility. Downstream and diversification efforts remain critical: expanding refining capacity, developing gas resources, and growing non-oil sectors (agriculture, manufacturing, and services) will reduce vulnerability to crude price swings.
Diplomatically, Nigeria must engage actively within a diminished OPEC, potentially advocating for more flexible arrangements that reflect African producers’ realities. Broader economic reforms—fiscal discipline, improved revenue management, and naira stability measures—will determine whether external shocks translate into crises or catalysts for resilience.
Ultimately, the Gulf realignment and OPEC’s evolution present Nigeria with both risks and opportunities. In a world where oil market power is fragmenting, proactive domestic transformation offers the most reliable route to energy security and sustainable growth. The coming months will test whether Nigerian policymakers seize this moment or allow it to deepen existing vulnerabilities.
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Uwadiae Osadiaye is Head of Alternative Investments at FirstCap Limited
General News
Maida, EVC NCC to Lead Speakers @ 17th Africa’s BoICT Merit & Leadership Lecture

Dr. Aminu Maida, executive vice chairman and chief executive officer (EVC/CEO), Nigerian Communications Commission (NCC), has has been confirmed as a Special Guest of Honour at this year’s Africa Beacon of ICT Lectures and Awards.

Dr. Aminu Maida, executive vice chairman and chief executive officer, NCC
Africa Beacon of ICT Lectures and Awards, is widely regarded as the most prestigious annual event available in the ICT industry in Nigeria.
The event according Ken Nwogbo, editor-in-chief of Nigeria Communications Week,“is digital transformation edition” will hold on Saturday, May 30, 2026 at the Four Points by Sheraton, Lagos.
Africa’s BoICT Lecture is designed to explore efforts to put Nigeria on the global Information and Communications Technologies map.
It will also to recognise and celebrate organisations and individuals in the ICT and banking industries that have impacted in digital transformation of the economy.
Nwogbo said that Dr. Maida, oversees the regulation, development, and strategic direction of the Nigerian telecommunications industry.
His administration at the NCC, actively drives initiatives to improve telecom consumer experience, enhance infrastructure, and foster collaborations (such as with the Central Bank of Nigeria) to protect citizens from financial fraud
He holds a PhD in Electrical & Electronic Engineering from the University of Bath, UK.
Prior to joining the NCC, he served as the Executive Director, Technology and Operations at the Nigeria Inter-Bank Settlement System Plc (NIBSS).
At NIBSS, Dr. Maida was responsible for spearheading the technical and operational standardization of all devices deployed in the financial system in Nigeria for interoperability.
He led a dynamic team that ensured that all terminals used in the e-payment industry and all devices deployed in Nigeria would accept all cards issued by banks and other licensed card schemes without discrimination.
Prior to his appointment at NIBSS, Maida was the Chief Technical Officer (CTO) at the Nigerian-based FinTech Arca Payments Network and Senior Manager at Cisco Systems, United Kingdom.
As a seasoned technical professional with over 15 years of multi-functional and international experience in FinTech & Telecoms & Enterprise Technology, Dr. Maida between 2010 and 2014, worked as a Network Design Consultant at EE, part of BT Group, and one of the largest mobile communications companies in the UK.
He was also at some point (2006-2010) a System Engineer at Ubiquisys, a leading company in intelligent 3G and LTE small cells, which is now part of Cisco.
Dr. Maida will be joining will join top dignitaries who have graced the event in the past including: Dr. Ernest Ndukwe, former executive vice-chairman, Nigeria Communications Commission (NCC); Engr. Yomi Bolarinwa, former Director-General of National Broadcasting Commission (NBC); Dr. Jean Luc Fort, CEO at OR System France and a specialist in Counterparty Risk; and Professor Chris Nwagboso, Chairman, Knowledge Factory International, United Kingdom.
Others are: Chris Uwaje, chairman, Mobile Software Solutions Ltd; Uche Orji, former managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodun Omoniyi, Managing Director/CEO, VDT Communications; and John Obaro, CEO and founder of Systemspecs; Dr. Isa Pantanmi, former DG, NITDA; Dr. Obadare Peter Adewale, co-founder and COO, Digital Encode Limited; among others.
The highpoint of the BoICT Lecture will be the conferment of awards to companies and individuals for their significant contributions to the growth of technology in Nigeria and indeed Africa.
The event is a five-star event; easily Nigeria’s ICT Oscars.
General News
Pantami, Ex Minister of Communication Withdraws from Gombe APC Governorship Primaries over Alleged Electoral Violations

Professor Isa Ali Ibrahim Pantami, former minister of Communications and Digital Economy, has withdrawn from the All Progressives Congress (APC) governorship primary election in Gombe State, citing alleged violations of the Electoral Act 2026 and failure by party officials to provide conditions necessary for a credible primary process.

Professor Isa Ali Ibrahim Pantami
Pantami announced his withdrawal in a statement issued by Barrister Ibrahim M. Attahir on behalf of the Pantamiyya Movement.
The former minister said his decision followed extensive consultations with stakeholders and careful assessment of developments surrounding the APC direct primaries in the state.
According to the statement, Pantami participated fully in the governorship process out of loyalty to the APC after accepting appeals from party leaders, youths, women groups and other stakeholders urging him to contest for the state’s top seat.
The statement noted that Pantami complied with all party requirements and procedures and was the only governorship aspirant represented at the Peace Accord meeting organised by the Nigeria Police Force, Gombe State Command, on May 14, 2026.
It added that his representative was also the only aspirant’s delegate who signed the peace accord during the event.
Despite this, the Pantamiyya Movement alleged that the APC leadership repeatedly failed to provide critical information relating to the conduct of the direct primaries.
According to the statement, several letters sent by Pantami’s solicitors to relevant organs of the party seeking clarification on procedures, accreditation, collation centres and other operational details were neither acknowledged nor responded to.
“In a democracy, the law must guide the process. Non-compliance with the Electoral Act 2026 and the party guidelines renders the exercise unsafe and illegitimate,” the statement said.
The movement further alleged that no actual election took place during the recent National Assembly direct primaries conducted in Gombe State on May 16 and 18, 2026, claiming that many aspirants were not informed about voting venues, accreditation procedures or collation arrangements before results were announced.
The statement maintained that Pantami’s political strength lies in his grassroots support base, particularly among youths and women, but alleged that ordinary party members were sidelined in the recent primaries.
It also claimed that despite President Bola Ahmed Tinubu’s insistence on credible and transparent direct primaries, the directives were allegedly not implemented in Gombe State.
“Prof. Pantami had requested details on the time and place for accreditation of agents and observers, the procedures for accreditation, voting and collation, and the location of collation centres. This information should have been provided to all aspirants without being solicited. As of this moment, nothing has been provided,” the statement added.
Pantami expressed appreciation to supporters, especially youths who reportedly raised funds through crowdfunding to purchase his expression of interest and nomination forms.
The movement disclosed that donations from supporters ranged between ₦5,000 and ₦4 million, with contributors publicly sharing receipts online.
The former minister also thanked women groups, coordinators at ward and local government levels, elders, campaign officials and members of the Campaign Coordinating Committee for their support and loyalty throughout the process.
He urged his supporters to remain calm, peaceful and law-abiding, stressing that democracy must be anchored on the rule of law, peace and security.
The statement added that the Pantamiyya Movement would communicate its next political direction and future plans to supporters and followers across Gombe State and the country in due course.
“All followers, admirers and supporters of Malam Pantami are to remain united for the next alignment and realignment in the political space,” the statement said.
Pantami’s withdrawal is expected to significantly reshape political calculations within the APC ahead of the 2027 governorship election in Gombe State, given his strong support base among youths and grassroots mobilisers.
General News
US to Deploy Wireless Technology in Nigeria, Others

The U.S. Trade and Development Agency (USTDA) has concluded arrangements to deploy U.S.-made wireless infrastructure in Nigeria and other three West African countries.

Donald Trump …..credit..foxbusiness
According to a statement made available by the U.S Embassy, Abuja, U.STDA, disclosed the funding for a feasibility study to install approximately 1,500 turnkey mobile communications base stations for deployment of wireless technology across Benin, Côte d’Ivoire, Ghana and Nigeria.
The deployment of American-made mobile base stations, it further stated will address West Africa’s urban-rural connectivity gap and provide millions of West Africans with faster, more reliable mobile access, aimed at supporting economic activity in areas.
The statement reads: “USTDA announced funding for a feasibility study to install approximately 1,500 turnkey mobile communications base stations from Massachusetts-based company Vanu Inc. (Vanu), across Benin, Côte d’Ivoire, Ghana and Nigeria.
“USTDA is bringing private sector solutions to unlock widespread, affordable, trusted internet access in off-grid communities across West Africa,” said Thomas R. Hardy, USTDA’s deputy director.
“By helping American companies compete in these critical markets, we are offering an alternative to insecure infrastructure while creating export opportunities that make America more prosperous.”
“USTDA’s assistance will fund the study for Vanu Côte d’Ivoire, which has selected Georgia-based Vernonburg Group LLC to provide U.S. expertise to assess the commercial viability of large-scale deployment and help mobilize financing for implementation.
The study will evaluate existing network infrastructure, analyze market conditions across all four countries, assess legal and regulatory frameworks, and develop a comprehensive financing plan.
The project will generate substantial opportunities to deploy trusted U.S. wireless solutions, network management systems, and other digital infrastructure throughout the project’s implementation.
“The deployment of American-made mobile base stations will address West Africa’s urban-rural connectivity gap and provide millions of West Africans with faster, more reliable mobile access, supporting economic activity in areas that have historically been offline or limited to outdated 2G and 3G networks.
Andrew Beard, CEO of Vanu Inc., said: “Vanu is proud to partner with USTDA to demonstrate how our systems enable mobile network operators in West Africa to deliver broadband Internet and voice services in some of the most economically and operationally challenging markets and prove that connectivity in these markets can be profitable, sustainable and scalable. Building on our pioneering world-first Federal Communications Commission certification of a software radio product, Vanu has developed an ecosystem of American companies to deliver cost-effective systems based on open interfaces and architectures. The USTDA study will help catalyze new investment, expand U.S. exports, and accelerate deployment of trusted, secure digital infrastructure to connect billions of people worldwide.”
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