Bola Tinubu, President-elect
New president, old problems for Nigeria
Abuja is still waiting for the Dangote refinery to solve the country’s expensive fuel subsidy problem
May is a critical month for Nigeria. The country will inaugurate President-elect Bola Tinubu, following a fiercely contested election and despite the two main opposition parties launching legal challenges to the result. And the huge Dangote refinery near Lagos might be poised to begin commissioning during the month, in a move that will have far-reaching consequences for Nigeria’s trade balance and budget, as well as the wider Atlantic basin’s downstream and freight sectors. Both the US and the UK congratulated Tinubu on his victory, but US ambassador Mary Beth Leonard said that “it is clear that the electoral process as a whole... failed to meet Nigerians’ expectations” and called upon the c
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
