Data from energy analytics firm Kpler showed that more than 500 million barrels of crude oil and condensate have been wiped off the global market since the crisis began in late February, making it the largest energy supply disruption in modern history.

Iran’s Foreign Minister, Abbas Araqchi, on Friday said the Strait of Hormuz had been reopened after a ceasefire agreement reached in Lebanon.

However, tensions escalated again on Saturday as Tehran warned it could shut the strategic waterway if the United States sustains its blockade of Iranian ports.

Also, U.S. President Donald Trump expressed optimism that a deal to end the conflict could be reached “soon,” although he did not provide a definite timeline.

Analysts warned that the scale of disruption could have prolonged effects on global energy stability, with shocks expected to linger for months or even years.

Providing context, Principal Analyst at Wood Mackenzie, Iain Mowat, said the 500 million barrels lost is equivalent to grounding global aviation demand for 10 weeks, halting all road transport worldwide for 11 days, or shutting down the entire global oil supply for five days.

Further estimates showed that the lost volume is nearly equal to one month of oil demand in the United States or more than a month’s supply for Europe. It also represents about six years of fuel consumption by the U.S. military and could power global shipping activities for approximately four months.

The crisis has significantly affected oil-producing nations in the Gulf, with output losses reaching about eight million barrels per day in March—roughly equivalent to the combined production of two of the world’s largest oil companies.

Jet fuel exports from major producers, including Saudi Arabia, Qatar, the United Arab Emirates, Kuwait, Bahrain, and Oman, dropped sharply from 19.6 million barrels in February to just 4.1 million barrels recorded across March and April combined. Analysts said the shortfall could have powered about 20,000 round-trip international flights.

With crude prices averaging around $100 per barrel since the onset of the conflict, the lost volumes translate to an estimated $50bn in revenue. Experts noted that this figure is equivalent to about one per cent of Germany’s annual Gross Domestic Product, or roughly the size of the economies of smaller European countries.

Meanwhile, global onshore crude inventories have declined by about 45 million barrels in April alone, while total production outages have risen to approximately 12 million barrels per day since late March.

Industry experts cautioned that unless a lasting resolution is reached, the disruption could intensify volatility in global oil markets, worsen inflationary pressures, and further strain fragile economies worldwide.

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The nomination was conveyed in a letter dated April 13, 2026, signed by the Publisher/Editor-in-Chief of City People Magazine, Seye Kehinde.

The development was disclosed in a statement issued by Oseni’s media aide, Idowu Ayodele, and made available to journalists in Ibadan on Thursday.

According to the statement, the lawmaker earned the nomination in recognition of his “outstanding contributions to politics in Oyo State, particularly in Ibarapa East/Ido Federal Constituency.”

The organisers noted that Oseni emerged as a nominee following a comprehensive review of performances across sectors by the award’s selection committee.

Part of the letter read, “Having performed creditably well in your sector last year, the Organising Committee presented you as a nominee in your sector.”

The award ceremony is scheduled to hold on Sunday, May 3, 2026, at Etal Hall, Kudirat Abiola Way, Oregun, Ikeja, Lagos, at 4pm.

The City People Awards is an annual event that recognises individuals who have distinguished themselves in governance, public service and other sectors of national development.

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In a statement issued on Thursday, the company expressed concern over what it described as a “disturbing surge” in attacks on its field workers and third-party partners.

It noted that the affected personnel were mainly engaged in meter installation, revenue collection and maintenance of electricity infrastructure.

According to the firm, the increasing cases of harassment, physical assault and unlawful detention of its workers pose a serious threat to employee safety and the stability of electricity service delivery across its franchise areas.

The Deputy Managing Director, Abubakar Mohammed, said the company would no longer tolerate any form of aggression against its workforce.

“Let this serve as a clear warning to anyone who engages in the assault of our staff. Kaduna Electric will pursue every case to its logical conclusion,” he said.

“We will work closely with security agencies to ensure offenders are brought to justice and face the full weight of the law,” Mohammed added.

He further disclosed that the company would publicly reveal the identities of individuals found culpable.

According to him, names, photographs and other details of offenders would be published on the company’s official platforms as well as in national and local media.

“This measure is intended to ensure accountability and serve as a strong deterrent. Anyone who chooses to attack our personnel should be prepared not only to face prosecution but also public exposure,” he added.

The company stressed that assaults on utility workers attract serious legal and financial consequences, noting that offenders risk criminal charges that may lead to fines or imprisonment.

It added that perpetrators could also face civil liabilities, including compensation for medical treatment, psychological trauma and loss of work hours.
While condemning the attacks, Kaduna Electric urged customers to adopt peaceful and lawful means of resolving disputes.

It advised aggrieved customers to channel complaints through its customer service units or appropriate regulatory bodies.

The management reaffirmed its commitment to protecting its workforce and partners, stressing that a safe working environment is essential for delivering reliable and efficient electricity services.

Although disputes between electricity providers and consumers are often linked to billing issues, metering challenges and service delivery concerns, the company maintained that such matters must be resolved through dialogue, insisting that violence against its staff will no longer be tolerated.

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The affected property owners, drawn from Ido, Akinyele, Egbeda, Lagelu, Oluyole, and Ona-Ara Local Government Areas, converged on Ologuneru on Saturday, where they unanimously condemned the policy, describing it as excessive, unjust, and capable of triggering a humanitarian crisis.

Operating under the Ibadan Circular Road and Corridor Stakeholders Forum, the landlords argued that the 1,000-metre development corridor being proposed for the 110-kilometre circular road project failed to meet due process requirements and does not serve public interest as claimed by the Oyo State Government.

Cross-section of landlords and landowners across the affected six Local Government Areas during the press conference yesterday in Ibadan

At a programme tagged “Meet and Greet”, held at Gbopa, Ologuneru, in Ido local government, the stakeholders disclosed that the government’s plan could gulp over 10,000 hectares of land spanning the six council areas.

They alleged that attempts to compel them to relocate to government-acquired lands were illegal, inhuman, and unjust, stressing that such action would dispossess families of ancestral lands and long-term investments.

Leaders of the group at the meeting included Awise Adewale Bogunmbe, Pastor Tosin Ogunsola, Baale Akinlawon (Mr. Olajire Muyiwa), Mrs. Olayinka Johnson, Mr. Femi Abiodun, Prince Salaudeen Sodiq, Alake Victoria, Engr. Lashinde Moruff, Mr. Ajao Babatunde Ibrahim, Iya Circular, and Mr. Dairo Kehinde.

Speaking on behalf of the stakeholders, the leaders accused the state government of attempting to deploy executive powers to appropriate private properties under the guise of development, warning that the move would have grave socio-economic implications.

They revealed that affected residents had commenced a mass signature campaign to back a petition to the National Assembly, seeking urgent intervention to halt what they described as an abuse of power.

“We are not against development,” the group stated, “but development must be humane, lawful, and fair to the people whose lives and properties are directly affected.”

The stakeholders therefore demanded that the state government should immediately jettison the proposed development corridor and restrict the project to the initial 150 metres earlier earmarked for the road.

They further called for an immediate suspension of ongoing and planned demolitions along the right of way, insisting that no property should be touched without prompt and adequate compensation.

According to them, even the 150-metre width earlier proposed for the project remains excessive, urging the government to consider reducing it to about 60 metres in line with obtainable standards.

“There is no known road in Nigeria that spans 150 metres in width,” the group argued, noting that anything beyond reasonable limits raises questions about the true intention of the project.
The forum, however, clarified that its agitation was not politically motivated.

“We are not fighting Governor Makinde, and we are not being sponsored by any politician or political party. This is about our homes, our future, and the inheritance of our children,” the stakeholders declared.

Efforts to get an official reaction from the Oyo State Government were unsuccessful as of the time of filing this report.

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Oseni said the resurrection of Jesus Christ embodies the triumph of hope over despair, noting that the season presents a timely opportunity for citizens to reflect on values capable of strengthening unity and fostering peaceful coexistence.

In a statement issued on Sunday by his media aide, Idowu Ayodele, and made available to journalists in Ibadan to commemorate the celebration, the federal lawmaker described Easter as a period that calls for renewed dedication to compassion, sacrifice, and collective responsibility in building a more prosperous Nigeria.

He encouraged Nigerians to extend kindness to the vulnerable, stressing that empathy, generosity, and community support remain essential in addressing social challenges and deepening national solidarity.

According to him, “Easter reminds us that love conquers division and resilience overcomes adversity. It is a season that calls for reconciliation, renewed hope, and a shared commitment to the rebirth of our nation.”

The APC chieftain also urged leaders at all levels to demonstrate selfless service, emphasising that responsive governance and people-focused policies are vital to improving the welfare of citizens.

He commended Nigerians for their resilience, encouraging them to remain steadfast, law-abiding, and committed to sustaining peace and unity across religious and ethnic lines.

The lawmaker reaffirmed his commitment to effective representation, pledging to sustain initiatives focused on critical infrastructure, quality education, youth and women empowerment, improved healthcare delivery, and expanded economic opportunities to enhance the living standards of constituents.

Oseni, however, wished Christians a peaceful and fulfilling Easter celebration, expressing optimism that the season would usher in renewed strength, enduring peace, and meaningful progress for Nigeria.

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In his Easter message to Christians in Orile-Igbon and across the Ogbomoso Zone, the monarch described the season as a solemn reminder of the sacrifice of Jesus Christ for humanity.

He said, “I join Christians in Orile-Igbon and the entire Ogbomoso Zone of Oyo State in celebrating the crucifixion and resurrection of our Saviour Jesus Christ this year.”

The monarch  noted that Easter provides an opportunity for reflection on the significance of Christ’s sacrifice and the need for individuals to emulate His virtues.

“This season offers us another opportunity to remember and uphold the sacrifice which Christ made for humanity by the shedding of His blood on the cross so we may be reconciled to God,” he added.

The Olugbon urged Christians to spread love and peaceful coexistence while supporting policies of government at all levels.

“As we celebrate this season, I implore us to uphold these virtues and spread love, while supporting government’s efforts in protecting and developing our communities,” he said.

He specifically called for support for the Oyo State Government’s SAFER Agenda and the Renewed Hope Agenda of President Bola Ahmed Tinubu.

“The Oyo State Government’s SAFER Agenda and the Renewed Hope Agenda of President Bola Tinubu require the support of all and sundry so our communities, state and Nigeria at large will be safer, better and prosperous places for all citizens,” the royal father  stated.

The traditional ruler also prayed for wisdom for leaders and unity among Nigerians irrespective of religious differences.

“I pray for more wisdom for all our leaders, peaceful coexistence of Nigerians of all faiths and that God will give us the Nigeria of our dream,” he said.

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Oyo State Governor, Seyi Makinde, on Friday elevated three high chiefs in Ibadanland to the status of Obas despite their absence from the coronation ceremony held at Mapo Hall, Ibadan.

The chiefs are the Ekeerin Balogun of Ibadanland, High Chief Akeem Adewoyin; the Ekaarun Olubadan of Ibadanland, High Chief Kola Babalola; and the Ekaarun Balogun of Ibadanland, High Chief Sharafadeen Alli.

The trio had earlier declined the state government’s invitation to attend the ceremony, stating that they would not be available.

Notwithstanding their absence, the governor, who was represented by his deputy, Adebayo Lawal, formally pronounced them as Obas during the event.

The Olubadan of Ibadanland, Oba Rashidi Ladoja, was also absent but was represented by the Balogun of Ibadanland, Oba Tajudeen Ajibola.

Addressing the newly elevated monarchs, Lawal said, “Distinguished newly crowned Kabiyesis, káde ò pé lórí kí bàtà ò pé l’ẹsẹ̀.”

The ceremony was attended by prominent Ibadan leaders and government officials, including the Otun Olubadan, Oba Eddy Oyewole; the Osi Olubadan, Oba Abiodun Kola-Daisi; Ekeerin Olubadan, Oba Adebayo Akande; and Chief Nureni Akanbi.

Others in attendance were the Secretary to the State Government, Prof. Musibau Babatunde; the Araba of Ibadanland, Chief Ifalere Adegbola; former Minister of Trade and Industry, Chief (Mrs) Onikepo Akande; a member of the House of Representatives, Adebayo Adepoju; Commissioner for Chieftaincy Matters, Ademola Ojo; Commissioner for Culture and Tourism, Wasiu Olatunbosun; and the President-General of the Central Council for Ibadan Indigenes, Chief Ajeniyi Ajewole.

The development is considered unprecedented in the history of Yorubaland, as the affected chiefs were not physically present at the event where they were elevated.

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In a statement issued on Friday by his media aide, Idowu Ayodele, and made available to newsmen in Ibadan, the Oyo State capital, Oseni, who also chairs the House Committee on Federal Roads Maintenance Agency (FERMA), described the solemn occasion as a reminder of the selfless sacrifice of Jesus Christ for humanity.

The statement read in part, “Good Friday symbolises the ultimate sacrifice made for the redemption of mankind and calls on us all to embrace love, compassion and tolerance in our daily lives.”

He noted that the lessons of the day should inspire Nigerians to promote peaceful coexistence and strengthen bonds of unity across religious and ethnic divides.

“At a time like this, our nation requires collective commitment to harmony and understanding. We must draw from the spirit of sacrifice demonstrated by Jesus Christ to support one another and build a stronger Nigeria,” it added.

The federal lawmaker also urged Christians in his constituency and across the country to use the period for sober reflection and prayers for national peace and socio-economic advancement.

He stated, “This solemn occasion provides an opportunity for leaders at all levels to prioritise the welfare of the people and demonstrate genuine commitment to service.”

Oseni further encouraged Nigerians to extend hands of kindness to the less privileged, stressing that charity and compassion remain central to the significance of Good Friday.

“As we commemorate this sacred day, let us renew our faith, deepen our love for humanity and work together to foster unity, progress and hope for our dear country,” the APC chieftain added.

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The commissioning ceremony, held at the institution’s Ibadan Study Centre, drew stakeholders, alumni members, and dignitaries who gathered to witness the unveiling of the facility described as a legacy project for the association.

Speaking during the ceremony, the Chairman of the Oyo State Chapter, Comrade Salawu Akeem, expressed appreciation to members and supporters for their commitment to the successful execution of the project. He described the secretariat as a major milestone that would enhance administrative capacity and strengthen cohesion among alumni members across the state.

The Centre Director, Ibadan Study Centre, Prof. Justus Sokefun, attended the event alongside Mrs Samuel Titi, the Deputy Bursar of the centre, the Secretary of the chapter, Prince Dada Olumide; the National Legal Adviser, Comrade Yinka Quadri; and other stakeholders.

Delivering his goodwill message, Prof. Sokefun lauded the chapter for its foresight and dedication, noting that the secretariat represented a significant step toward strengthening alumni engagement and institutional development.

He said, “This project is commendable and worthy of emulation by other chapters nationwide, as it will further consolidate the relationship between the university and its graduates.”

Also speaking, Alhaji Bashiru Adisa, the Baale of Kiabi, in Ido local government area of Oyo state, who represented the Board of Trustees and stood in for the National Vice President, South-West, praised the leadership and members of the chapter for their resilience and collective effort in completing the project, urging them to maintain and effectively utilise the facility.

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A Lagos-based law firm, Sholanke and Sholanke, has petitioned the Central Bank of Nigeria (CBN), urging the apex bank to direct Guaranty Trust Bank Plc (GTBank) to refund N9.98m allegedly withdrawn fraudulently from the account of its client.

In a petition dated March 26, 2026, and addressed to the Director of the CBN’s Consumer Protection Department, the solicitors accused the bank of failing to exercise reasonable care and skill in safeguarding the customer’s funds.

‎According to the petition, the disputed transactions occurred on February 21, 2026, when two withdrawals of N4.99m each were processed within a two-minute interval to separate accounts domiciled with a payment platform. The law firm maintained that the transfers were unauthorised and were promptly reported by the account holder.

‎The lawyers stated that their client neither authorised the transactions nor compromised his banking credentials, insisting that he exercised all necessary precautions expected of a customer.

‎However, the bank reportedly maintained that the transactions were authenticated using the customer’s login credentials and PIN, adding that it found no infraction on its part. GTBank also said efforts to trace the funds were carried out on a “best-effort basis,” noting that the money had allegedly been dissipated through cryptocurrency channels and third-party platforms.

Dissatisfied with the bank’s position, the solicitors argued that reliance on authentication alone does not absolve a financial institution of liability in fraud-related cases. They contended that modern banking standards require institutions to deploy advanced fraud detection mechanisms capable of identifying suspicious patterns.

‎They highlighted several “red flags” that should have triggered intervention by the bank, including the high-value nature of the transactions, the short time interval between them, the use of new beneficiaries, and the near-identical amounts involved.

The petition further stressed that the bank’s duty of care is primarily preventive, adding that attempts to recover funds after transactions had been completed do not excuse what it described as systemic lapses.

‎The firm also raised concerns over potential breaches of the CBN Consumer Protection Framework and cybersecurity guidelines, warning that such incidents could erode public confidence in the banking system if not addressed decisively.

Consequently, the lawyers urged the apex bank to compel GTBank to refund the full amount to their client, conduct a comprehensive investigation into the incident, and impose appropriate sanctions where necessary. They also requested that the bank be directed to provide a detailed forensic report on the alleged breach.

‎The petition described the incident as a clear case of institutional failure, calling on the CBN to intervene to ensure that the customer does not bear the consequences of alleged lapses within the banking system.

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