Business News March 20, 2026 South Africa, other countries turn to Dangote Refinery as Iran war tightens global fuel supply

 

Nigerian billionaire Aliko Dangote’s refinery is witnessing a surge in inquiries as African nations move quickly to secure fuel supplies following disruptions caused by the Iran war.

According to a company executive, DangotePetroleum Refinery and Petrochemicals has received approaches from South Africa and several other countries.

People familiar with the matter said South Africa is pursuing a 12-month standard supply agreement with Nigeria, though they declined to be named because the discussions are private.

The broader global impact of the US-Israel conflict with Iran is becoming evident, with supply strains ranging from cooking gas shortages in India to declining naphtha availability in Japan.

In Africa, the pressure is particularly intense in eastern and southern regions, where roughly 75% of refined fuel imports originate from the Middle East, according to Elitsa Georgieva of energy consultancy CITAC.

South Africa said it is working with industry players to secure crude oil and refined products from multiple sources. “South Africa ‘is actively coordinating with industry stakeholders to secure both crude oil and refined petroleum products from a diversified range of sources,’” the government said in a statement on Wednesday. “A comprehensive plan is in place to manage potential supply risks.”

About 75% of the refinery’s 650,000 barrels-per-day output is allocated for domestic use in Nigeria, leaving the rest available for export. Ghana and Kenya have also contacted Dangote, one of the sources said.

“Right now it is not about pricing, it’s about availability,” Dangote said in an interview with the Economist. “I think the situation will continue for a while.”

While South Africa indicated it has sufficient supply for the “coming weeks,” Kenya requires oil marketers to maintain at least three weeks’ worth of stock, with officials noting no immediate threat of shortages.

By comparison, the International Energy Agency recommends member countries hold reserves equivalent to at least 90 days of net oil imports. No African country belongs to the agency.

In Ethiopia, authorities have directed fuel stations to prioritise public transport and urged citizens to conserve energy. Meanwhile, in Mogadishu, fuel prices have nearly doubled.

South Africa holds about 8 million barrels of strategic crude reserves through the state-owned Central Energy Fund, but it lacks dedicated fuel stockpiles. Lawmakers previously flagged this gap.

The continent’s largest economy has seen its refining capacity shrink by roughly half in recent years due to accidents and prolonged underinvestment, increasing reliance on imports.

Jacob Mbele, director-general at South Africa’s Department of Mineral Resources, said fuel marketers maintain some buffer stocks. However, the government is still in the early stages of developing its own strategic reserves as the country has become a net importer of refined products.

Some companies are already adjusting to the situation. Demand for coal has climbed, with Exxaro Resources Ltd. reporting a roughly 20% increase in prices to $112 per ton, according to Chief Executive Officer Ben Magara.

Magara also noted rising freight and insurance costs for manganese shipments, along with potential disruptions to fuel supply across operations.

“Making sure we have enough fuel inventories for a crisis like this is also quite important,” Magara said. “So we are putting a lot of business continuity management plans in place because you just, you never know.”

(BLOOMBERG)

News Politics March 20, 2026 2027: Council of Christian elders unveils Uja as Benue PDP Guber hopeful

 

As politicians continue to align ahead of the 2027 general elections, the Benue governorship race is also abuzz with activities.

In a clear calculation to wrest power from the incumbent governor, Rev Fr Hyacinth Alia, the Council of Christian Elders in the state has formally unveiled the former National Executive Secretary, National Pilgrims Commission (NPC), Dr Tor Uja to contest the Benue Governorship election under the platform of the People’s Democratic Party (PDP).

The epoch making event took place on Monday at the Mission House International, Makurdi for the Benue Christian Congress where project David was unveiled.

Unveiling Dr. Tor Uja at the Congress, Arch Bishop Benjamin Kurudu on behalf of the chairman, Council of Christian Elders, Bishop Nathan Nyom enjoined Christians not to be afraid as God is with them in this journey, stressing the spiritual role of the church of healing the land, restoration and their impact in the Nigerian politics as they have the highest number in the state.

Arch Bishop Kurudu challenged the Christian community to rise up to participate actively in politics as God has revealed that, revival is coming to Benue state and that Dr Tor Uja is coming in the might of God to liberate the Benue people out of poverty and stop unprovoked killing of innocent people of Benue by herdsmen militia.

Responding, Dr. Tor Uja who expressed gratitude to God for finding him worthy to serve and turn around the fortunes of Benue, promised not to disappoint them if elected, adding that, he has a clear road map on how Benue ought to be.

Dr. Uja regretted that, Nigeria as a nation has not been fair to its people. “Nigeria wages war against her people than against her enemies, while some few groups have been targeted for development, condemning incessant killing across Nigeria and Benue in particular.

The governorship aspirant said, the worst thing that has happened is the emergence of IDP camps and promised to do away with them in six months if voted into power.

Uja, the former National Executive Secretary, National Pilgrims Commission (NPC), said, his coming to power is to correct abnormalities and poor leadership, eradicate poverty as well as put an end to Fulani herdsmen attacks on poor farmers of Benue state.
He formally declared to contest on the platform of the People’s Democratic Party (PDP) and urged the church to key into the project.

Receiving Dr. Tor Uja as an aspirant in the PDP, the state chairman who was represented by the former state ALGON Chairman, Hon Caleb Abba called on the Christian community to key into ‘Project David’ and use the opportunity of the ongoing E-registration of membership of the party and join forces to unseat bad governance.
Hon Abba later presented the party flag to Dr. Uja as a symbol of acceptance.

The Chairman planning committee, Rev Samuel Alaha said, their conviction is hinged on the fact that, the Benue people are subjected to poverty and untold hardship, coupled with insecurity in the state, decrying governments inability to speak for the people.
He said, project David has spiritual inclination, that after series of fasting and prayers they came up with a credible and experienced candidate to salvage and bring Benue out of poverty and incessant killing by herdsmen militia.

Rev Alaha enjoined the Benue people to announce project David as a Divine project considering the future of Benue.
Earlier, Apostle Dave Ogbole while delivering words from heaven, said, Dr. Tor Uja is a man of God, community leader, a custodian of blueprint of how Benue ought to be, with vast experience both at the state and national.

The event was rounded up with Prayers and supplications made by the men of God.

News World March 20, 2026 IRGC spokesman killed in US-Israeli airstrikes – Iranian state media

 

Iranian state broadcaster Press TV reported on Friday that Brigadier General Ali Mohammad Naeini, spokesperson for the Islamic Revolutionary Guard Corps (IRGC), has been killed in US-Israeli strikes.

His reported death comes amid a wave of targeted killings of senior Iranian officials following the death of Ayatollah Ali Khamenei on February 28.

Earlier, the Israel Defense Forces (IDF) confirmed the killing of Iran’s Minister of Intelligence, Esmaeil Khatib, in a strike carried out in Tehran on Thursday. According to the IDF, Khatib was involved in actions against Iranian citizens during the Mahsa Amini protests between 2022 and 2023.

In a post on X, the IDF said on Wednesday, “ELIMINATED: Esmaeil Khatib, the Iranian terrorist regime Minister of Intelligence, in a targeted strike in Tehran. Khatib played a significant role during the recent protests throughout Iran, including the arrest & killing of protestors and led terrorist activities against Israelis & Americans around the world. Similarly, he operated against Iranian citizens during the Mahsa Amini protests (2022-2023). The Iranian Ministry of Intelligence possesses advanced intelligence capabilities, overseeing surveillance, espionage, and the execution of covert operations worldwide, particularly against Israeli and Iranian citizens”.

In related developments earlier this week, Iranian security chief Ali Larijani and Basij paramilitary leader Gholamreza Soleimani were also killed in Israeli airstrikes on Tuesday.

Reacting to the deaths, Pezeshkian condemned the “cowardly assassination of my dear colleagues,” stating that they “left us heartbroken”. In a post on X, he added that their “path will continue stronger than before”, as reported by Al Jazeera.

Larijani, aged 67 and regarded as a close ally of the late Ali Khamenei and his successor Mojtaba Khamenei, was killed following a strike late Monday night. His death marks the loss of one of the most senior figures in Iran’s leadership since the conflict escalated 19 days ago.

Soleimani, who had overseen the country’s internal security force for six years, was considered a central figure in shaping Iran’s military response.

Meanwhile, Iran’s Foreign Minister Abbas Araghchi maintained in an earlier interview that the country’s political system remains resilient despite the loss of key leaders.

“I do not know why the Americans and the Israelis still have not understood this point: The Islamic Republic of Iran has a strong political structure with established political, economic, and social institutions,” Araghchi said.

He further stressed that the “presence or absence of a single individual does not affect this structure.” He noted that while “individuals are influential, and each person plays their role–some better, some worse, some less-but what matters is that the political system in Iran is a very solid structure.”

Araghchi also referred to the earlier killing of Iran’s former supreme leader, Ayatollah Ali Khamenei, during the initial phase of US-Israeli strikes on February 28, stating that despite the significant loss, “the system continued” to function.

News March 20, 2026 Real Estate Mogul, Ayo Ogedengbe Set for Burial as Service of Songs Holds in Abuja

Arrangements have been concluded for the burial of renowned real estate entrepreneur and Chief Executive Officer of Fort Ogedengbe Empire Ltd, Ayodele Monday Ogedengbe, who passed away recently in Abuja after a brief illness.

The late Ogedengbe, popularly known as Ayo, was a prominent figure in Nigeria’s real estate sector, with diversified business interests spanning hospitality and Finance.

His contributions to enterprise development and youth empowerment earned him admiration across professional and social circles.

In honour of his life and legacy, friends, family members, and associates will gather for a service of songs scheduled to hold on March 26, 2026, at his residence in Gwarimpa, Abuja.

Described by many as a visionary and philanthropist, Mr. Ayo was reputed for supporting aspiring entrepreneurs, mentoring young professionals, and facilitating opportunities for countless individuals within and beyond the real estate industry. 

His impact extended into the entertainment sector, where he played a pivotal role in nurturing talents who have gone on to become notable actors, musicians, and comedians.

As CEO of Eagle Media and Entertainment, as well as a reality show platform, he created avenues that helped shape the careers of many young Nigerians, further cementing his legacy as a builder of dreams and opportunities.

Paying tribute, Dr. Alex Nwankwo described the late businessman as a rare breed whose generosity and vision transformed lives.

“Ayo Ogedengbe was more than a businessman; he was a pillar of hope to many. His passion for empowering others and his unwavering commitment to excellence set him apart. Nigeria has lost a visionary leader and a compassionate soul whose legacy will continue to inspire generations,” he said.

According to the burial arrangements, his remains will depart the Federal Medical Centre, Abuja, on Saturday, March 28, 2026, for his hometown, Igarra in Akoko-Edo Local Government Area of Edo State, where he will be laid to rest.

He is survived by his mother, wife, children, and extended family members.

Crime News March 20, 2026 Man reportedly kills lover’s son for resisting affair with his mother

 

Tragedy unfolded on Sunday night in Uli community, Ihiala Local Government Area of Anambra State, after a man identified simply as Gozie allegedly killed his lover’s only son for resisting their relationship.

According to a report by Punch, the victim, believed to be in his 20s, was said to have been attacked inside his room following ongoing disputes with his mother’s lover over his repeated visits to their residence.

Residents said the tension between the deceased and the suspect had lingered for some time, frequently leading to heated confrontations.

An eyewitness, who identified himself simply as Somto, said suspicion arose among neighbours after the occupants of the compound were not seen for several days.

“The incident happened on Sunday night at a compound near the Uli campus of Anambra State University. Neighbours said they heard unusual noises that night, but it was when no one was seen for about two days that they decided to check,” he said.

He noted that residents searched through the rooms and found the victim’s lifeless body lying in a pool of blood.

“When they entered the young man’s room, they found his corpse with deep machete cuts on the head and other parts of the body. This drew a crowd, and youths in the area immediately launched a search for the suspect and the boy’s mother, but they had fled,” Somto added.

The matter was later reported to the police, while the deceased’s remains were taken to a morgue.

A video circulating online shows youths transporting the corpse in a wheelbarrow across parts of the community, chanting and demanding justice.

Findings indicated that the victim’s mother had returned to Uli after the death of her husband, who hailed from the neighbouring Egbu community, where the deceased also originated.

Another resident, Nnamdi Ozoememam, told our correspondent that the relationship between the woman and the suspect had been a recurring source of conflict.

“The man started visiting the woman regularly, and the boy objected, warning him several times. This often led to quarrels. At some point, the man began staying overnight, which further angered the boy,” he said.

He alleged that the suspect carried out the attack while the victim was asleep.

“After killing him, the suspect fled with the boy’s mother. It was only days later that neighbours discovered the body,” he added.

Ozoememam further revealed that the incident triggered outrage among youths from Egbu community, who reportedly stormed the suspect’s family compound and set buildings on fire in retaliation.

“The situation escalated as some youths carried the corpse around the community before attacking the suspect’s compound and burning houses there,” he said.

A community elder, who requested anonymity, condemned both the killing and the reprisal attack, cautioning against jungle justice.

“It is unfortunate that the situation degenerated to the destruction of property. Stakeholders in Uli and Egbu communities must intervene to prevent further escalation,” he said.

When contacted, the spokesperson for the Anambra State Police Command, SP Tochukwu Ikenga, said he could not immediately confirm the incident.

However, a police source in Ihiala disclosed that the case was being documented and would be transferred to the State Criminal Investigation and Intelligence Department.

“The corpse has been recovered and deposited at the morgue. The two principal suspects are currently at large, and investigations are ongoing to ascertain the full circumstances surrounding the incident,” the source said.

(PUNCH)

News March 20, 2026 Tinubu returns from UK trip, heads to Lagos

 

President Bola Tinubu and First Lady Oluremi Tinubu arrived in Lagos in the early hours of Friday following the completion of a two-day state visit to the United Kingdom.

Platinum Post reports that the presidential aircraft touched down at the Presidential Wing of Murtala Muhammed International Airport at about 1:15 a.m.

The President was received on arrival by senior government officials, including Lagos State Deputy Governor, Obafemi Hamzat, and the Chief of Staff to the President, Femi Gbajabiamila.

Also present were the wife of the Lagos State Governor, Mrs Ibijoke Sanwo-Olu, alongside chieftains of the All Progressives Congress (APC).

Tinubu is expected to spend the Eid-el-Fitr festivities in Lagos before returning to Abuja to resume official duties at the Presidential Villa.

During the visit to the UK, the President and the First Lady were hosted by King Charles III and Queen Camilla at a state banquet held at Windsor Castle.

Tinubu also engaged in bilateral discussions with UK Prime Minister Keir Starmer at Downing Street as part of the high-level visit.

The engagements culminated in the signing of Memoranda of Understanding (MoUs) focused on ports development and wider trade collaboration, aimed at deepening economic relations between Nigeria and the United Kingdom.

Recall that Tinubu had earlier departed Abuja on Tuesday for London on an official visit at the invitation of the British government.

Crime News March 20, 2026 El-Rufai: Appeal Court nullifies judgment, issues new directive

 

The Kaduna Division of the Court of Appeal has directed the Federal High Court (FHC) to conduct a fresh hearing on former Kaduna State Governor Nasir El-Rufai’s application seeking enforcement of his fundamental rights against the State House of Assembly.

The appellate court held that the July 30, 2024 judgment of the FHC in Kaduna violated El-Rufai’s right to fair hearing.

It consequently nullified the decision and instructed the Chief Judge of the FHC, Justice John Tsoho, to reassign the matter for a new hearing before a different judge.

El-Rufai had approached the FHC in Kaduna following his indictment by the House of Assembly over an alleged N400 billion fraud.

He contended that the Assembly constituted an ad-hoc committee to probe loans, contracts, financial dealings and other transactions undertaken by the Kaduna State Government between May 29, 2015 and May 29, 2023.

According to him, about 70 individuals were listed and invited during the committee’s proceedings.

However, he maintained that he was not invited at any stage before the committee concluded its assignment and issued a final report indicting him.

El-Rufai accused the Assembly and the Attorney-General of Kaduna State of violating his fundamental right to fair hearing.

He also challenged the procedure adopted by the lower court in declining to entertain his application.

Justice Coram Aikawa of the FHC had earlier declined jurisdiction over the case and transferred it to the Kaduna State High Court, citing lack of jurisdiction.

But in a lead judgment delivered on March 17, 2026 by Justice Onyekachi Aja Otisi, with Justices Abimbola Obaseki-Adejumo and Sybil Nwaka Gbagi concurring, the Court of Appeal found merit in El-Rufai’s appeal.

Otisi said: “It is my considered view that what happened at the lower court on July 18, 2024 was far more than a mere refusal of an application for adjournment. This is because it resulted in a denial of the fundamental right of fair hearing of the appellant guaranteed by Section 36 (1) of the Constitution.

“The lower Court had the duty to do justice according to law and not by sentiment. The justice of the suit leading to the Appeal was for the lower court to set aside the proceedings of 18/7/2024 on the ground that the Appellant was not afforded fair hearing.

“The consequence of the denial of the right to fair hearing is that the proceedings and decision of the lower court, no matter how well conducted, amount to a nullity and is liable to be set aside.

“Therefore, having found that the proceedings of the lower court conducted on July 18, 2024 was in breach of the Appellant’s right to fair hearing, the judgment delivered thereon on July 30, 2024 was a nullity, and liable to be set aside.

“Accordingly, the said judgment delivered on 30/7/2024, being in breach of the appellant’s right to fair hearing, is hereby set aside for being a nullity.

“The sole issue for determination is thus resolved in favour of the appellant, and against the respondents. In the light of the holding that the judgment delivered on July 30, 2024 was a nullity, the determination of the other issues raised in this appeal, obviously, have become merely academic. This court will therefore, refrain from considering them.

“The appeal has merit, and it is hereby allowed. The lower court’s proceedings of 18/7/2024, as well as the judgment of July 7, 2024, are hereby set aside.

“It is ordered that the matter be remitted back to the Hon. Chief Judge of the lower court for hearing de novo before another Judge of the lower court. It is further ordered that parties shall bear their costs.”