The Airtel Africa Foundation, in partnership with Airtel Nigeria, is targeting 200 underserved young women in the Ikorodu area of Lagos State to provide industry-standard technical training at no cost.

According to a statement released by the organisation on Wednesday, the initiative will be executed through the “DigiLeap Tech Drive”, an intensive digital literacy programme designed to bridge the gender gap in the technology sector. The project is a strategic collaboration between the Airtel Africa Foundation, the ISHK Tolaram Foundation, and Co-Creation Hub, with implementation led by the SAIL Innovation Lab.

The Chairman of the Airtel Africa Foundation, Segun Ogunsanya, emphasised that the project extends beyond basic classroom instruction.

“This initiative ensures the digital revolution is truly inclusive; it isn’t merely a training session but a professional pipeline designed to transition these women directly into internships and sustainable careers,” Ogunsanya stated.

The programme is engineered to transform high-potential individuals into workforce-ready professionals by providing a blend of technical instruction, mentorship, and direct job-placement linkages. This holistic approach aims to tackle regional unemployment while increasing female representation in the global tech economy.

Highlighting the broader economic impact during the flag-off event, the Chief Executive Officer of Airtel Nigeria, Dinesh Balsingh, noted, “We believe that empowering women with digital skills is a fundamental catalyst for national economic growth. With the DigiLeap tech training, we are creating a sustainable pathway for young women in underserved communities to move from the sidelines of the digital economy into the heart of the tech workforce.”

The foundation reaffirmed its commitment to long-term societal transformation, maintaining that technology remains the most effective tool for unlocking opportunities across the continent. “When women lead in technology, entire communities thrive,” the foundation concluded.

The application portal is currently live and will remain open until 8 May 2026. Prospective trainees between the ages of 18 and 35 living in Ikorodu, Lagos, are encouraged to apply via the official portal at bit.ly/DigiLeap to secure their spot in this high-impact professional pipeline.

The pump prices of Premium Motor Spirit (petrol) are nearing N1,400 per litre in many parts of the country as the United States and Iran fail to agree on a ceasefire that should lead to the reopening of the Strait of Hormuz.

As the crisis in the Middle East lingers, coupled with the exit of the United Arab Emirates from the Organisation of the Petroleum Exporting Countries on Tuesday, the prices of petrol have continued to rise.

From $105 per barrel on Monday, Brent crude jumped to $118 on Wednesday. As a result, the Dangote Petroleum Refinery jerked up its petrol gantry price from N1,200 to N1,275 per barrel.

Price data obtained from Petroleumprice.ng and confirmation from a Dangote refinery official on Wednesday revealed that the refinery raised its petrol loading price from N1,200 per litre to N1,275 per litre, while coastal supply prices climbed to N1,215 per litre.

Another source familiar with the situation disclosed that the refinery halted its pro forma invoice entry process at about 4 pm on Tuesday, effectively disrupting normal supply scheduling across its loading system. The suspension, according to the sources, led to an immediate stoppage of both petrol and diesel sales to marketers.

This is coming as the Nigerian National Petroleum Company Limited raised the official selling prices of all 37 Nigerian crude grades for May-loading cargoes, according to a report by Oilprice.com.

The report stated that Nigeria was reaping the benefits of the US-Iran war, as the NNPC increased the price of its flagship grade, Bonny Light, by $6.13 per barrel for May compared to April. Similarly, Forcados was also raised by $7.01 per barrel.

“Nigeria reaps the benefits of the Iran war. Nigeria’s national oil company NNPC has raised the official selling prices of all 37 Nigerian crude grades for May-loading cargoes, hiking its flagship grade Bonny Light by a whopping $6.13 per barrel compared to April, while Forcados is up by $7.01 per barrel,” the report stated.

The PUNCH had on Wednesday projected that the development might indicate that the Dangote Petroleum Refinery could pay more for crude, thereby pushing up fuel prices.

It was observed that filling stations wasted no time in moving up their pump prices from an average of N1,250 to over N1,300 per litre on Wednesday in Lagos and other states in the South-West. Checks by The PUNCH showed that filling stations in Lagos and Ogun states sold petrol at prices ranging from N1,315 to N1,350 as of Wednesday.

The NNPC filling stations at the Mowe/Ibafo axis of the Lagos-Ibadan Expressway sold petrol at N1,315 a litre, while Mobil offered N1,320.

The prices depend on the location. In the north and other locations far from the Dangote refinery, petrol prices were raised to around N1,400 per litre. People living in Ogun border communities said a litre of petrol is close to N1,700 because the Federal Government has not allowed the supply of petroleum products in their areas.

Speaking, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, said prices may continue to soar unless US President Donald Trump allows peace to reign in the Middle East.

Gillis-Harry said fuel sellers have been subjected to sudden price volatility that makes business decisions somewhat difficult. He regretted that the Federal Government is not taking steps to support the masses despite making more gains from the high oil prices.

“This is what we have been introduced to, price volatility. And then the government is not making any statements about it, so it’s worrisome. At least, the government could come up with some measures. We are making some gains now on the price of crude oil. The government can give some back to reduce the cost of transportation, so food is not going to be expensive, along with a few other things. That’s what we have advised,” he said.

The PETROAN boss said the price of petrol could go above N1,500 per litre if the Middle East crisis is not de-escalated.

“If you go back to our predictions, I stated it there because Mr Trump is not very clear as to what he wants, in my opinion; if it is to decimate the Iranian nuclear facility or if it is to take over the crude oil as they are taking over Venezuela’s. I don’t think we know what he wants exactly. So we are not sure we are seeing the end of that crisis.

“You can see that the UAE has opted out of OPEC, and the speed at which they are opting out is very fast, which is why we have also advised that Nigeria should think out of the box and look at how production can be improved. It doesn’t need any rocket science; we have the reserves. It is to encourage investors and make sure that host communities are at peace and that violence is no longer the focus. The assets that were discovered in Bauchi and elsewhere, in which billions of dollars were invested, have not achieved anything.

“So we should pay attention to all those areas and increase our production value and production speed so we can at least clearly put 2 million barrels into domestic refining. That will be much better because we will then become a refining hub to guarantee jobs, improve businesses, and make our economy more active. People will work for reasonable money and pay better taxes without grumbling. That’s where we are,” he advised.

Gillis-Harry said the Dangote refinery showed its influence by changing prices at will, saying retailers will keep adjusting. “Dangote has increased the price again because he is the lord of the manor. So we will keep adjusting,” he added.

The PETROAN boss maintained that the NNPC oil price hike contributed to the petrol price increase, saying, however, that every single increase was a result of the closure of the Strait of Hormuz.

“Every single increase from any quarter is because we are not trading locally. All products in Nigeria are still internationally benchmarked. Regardless of whether we’re paying naira for crude for local refining, it’s still measured in the dollar equivalent. The only thing it has done is that you’re not going to scramble for forex to buy the crude that you’re going to refine here.

“We advise that that privilege should be extended to all refineries, be they modular or not, at least the refineries that are producing PMS or are about to produce,” he said.

A senior management official of the Dangote Group had revealed on Monday that the Dangote refinery had been subsidising the petrol and diesel it was selling to the Nigerian market.

According to the official, who spoke to our correspondent in confidence due to the lack of authorisation to speak, the company’s N1,200/litre ex-depot price for petrol was below the competitive market price, considering the jump in crude prices following the US-Iran war.

The PUNCH reports that the war in the Middle East triggered an oil price surge when the Strait of Hormuz was blocked by Iran. From $66 per barrel on February 28, Brent, the global benchmark for crude, jumped above $100 a barrel.

As a result, Dangote raised its petrol gantry price from N774 to N1,275 as of the time of filing this report. The oil price hike also affected diesel and aviation fuel.

In their reactions to the rising oil prices due to the US-Iran war, local refiners urged the Federal Government to drop the use of international pricing benchmarks for crude supplied to domestic plants, saying the current structure inflates costs and undermines local refining.

The spokesperson for the Crude Oil Refiners Association of Nigeria, Eche Idoko, said in an interview that the association had consistently pushed for a domestic pricing arrangement that reflects Nigeria’s peculiarities.

According to Idoko, crude supplied to local refineries should be priced based on locally designed pricing instead of using Brent as a benchmark.

“If you are using Brent to benchmark our pricing, the factors that are affecting the Brent pricing will still affect the price at which you are landing crude here. What we have always insisted on is that those elements in Brent that do not apply to the trade between the local refinery and the oil producers should be discounted. And like that, you get the actual cost of crude for local refineries,” he said.

An economist, Bismarck Rewane, said, “One of the options that can be explored is that the Federal Government of Nigeria agrees to sell crude at a particular price to the Dangote refinery with the assurance that the price of refined products does not increase.”

Energy economists have also called on the Federal Government to take steps towards assuaging the effects of rising fuel prices on the masses. However, the government has yet to respond to the calls even as inflation figures rise again.

US doubles down on Iran

Meanwhile, the US continues to seek to pile pressure on Iran with the naval blockade outside the Strait of Hormuz as the Trump administration signals the blockade is yielding results and will not be lifted anytime soon, Oilprice.com reports.

“While the surviving IRGC leaders are trapped like drowning rats in a sewage pipe, Iran’s creaking oil industry is starting to shut in production, thanks to the US blockade,” US Treasury Secretary Scott Bessent said in a post on X on Tuesday.

“Pumping will soon collapse. Gasoline shortages in Iran next!” Bessent added.

In another post, the secretary wrote that “Kharg Island, Iran’s primary oil export terminal, is soon nearing storage capacity, which will force the regime to reduce oil production, resulting in an additional approximately $170m per day in lost revenue and causing permanent damage to Iran’s oil infrastructure.”

“Treasury will continue to exert maximum pressure, and any person, vessel, or entity facilitating illicit flows to Tehran risks exposure to US sanctions,” Bessent added.

US President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told the Wall Street Journal earlier this week.

The President preferred to keep the blockade and try to choke off Iran’s oil exports and revenues to the other options, such as renewing bombing of Iran or walking away from the war, the officials told the Journal.

Meanwhile, at least six Iranian tankers laden with oil are loitering in a cluster near the port of Chabahar in Iran, outside the Strait of Hormuz but just inside the US naval blockade line, satellite images and maritime intelligence analyses have shown.

The planned exit of the United Arab Emirates from the Organisation of the Petroleum Exporting Countries is stirring fresh concerns among energy experts, who warn that the development may weaken the cartel’s influence on global oil prices and ultimately hurt Nigeria’s revenue outlook.

The UAE’s withdrawal, effective May 1, 2026, is expected to take about 1.2 billion barrels of annual crude production outside OPEC’s coordinated supply framework, marking one of the most significant shifts in the oil alliance in decades.

While the development has been framed in some quarters as an opportunity for Nigeria to capture additional market share, analysts say the reality may be far less optimistic, as the exit could trigger price instability and expose structural weaknesses in Nigeria’s oil sector.

Data obtained by our correspondent showed that the UAE produced an average of 3.36 million barrels per day in 2025, accounting for roughly 12 per cent of OPEC’s total output. Its departure effectively removes one of the cartel’s most disciplined producers from the quota system.

Commenting in separate interviews with our correspondent on Wednesday, experts warned that the UAE’s exit from OPEC could weaken the cartel’s price control, trigger lower crude prices, and ultimately leave Nigeria worse off despite any potential increase in production quota.

Energy economist and Professor Emeritus of Petroleum Economics, Wumi Iledare, said the move points to deeper cracks within the alliance and signals a more competitive global oil market.

In a note titled “OPEC Cohesion Under Strain: A Note for Nigeria,” Iledare stated, “The current speculation around a possible UAE exit from OPEC, whether confirmed or not, points to a deeper structural issue: growing tension between expanded production capacity and quota constraints within OPEC+.

“From a petroleum economics perspective, countries that have invested heavily in capacity, like the UAE, face a clear incentive to prioritise volume monetisation over collective price management. If this trend strengthens, OPEC’s ability to enforce discipline may gradually weaken—not abruptly, but through rising non-compliance.”

He warned that Nigeria faces a dual risk in the evolving market. “For Nigeria, the risk is twofold. First, potential downward pressure on oil prices in a less coordinated market. Second, and more critical, our domestic underperformance—production shortfalls, high costs, and leakages—limits our ability to benefit even when prices are favourable,” he added.

According to him, the country must prepare for a future where OPEC’s price-shielding role becomes less reliable. “The policy takeaway is straightforward: Nigeria must prepare for a less reliable OPEC price umbrella. This means improving production efficiency and security, reducing unit costs, adopting more conservative fiscal assumptions, and accelerating gas-led diversification.

“Whether or not the UAE exits (OPEC), the signal is clear: the global oil market is becoming more competitive and less forgiving. Nigeria must respond with discipline, not dependence,” Iledare said.

Also speaking, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Muda Yusuf, said the UAE’s exit is more likely to disadvantage Nigeria than benefit it. “I think the exit of the UAE from OPEC is even likely to be a disadvantage for Nigeria. That’s the way I am looking at it,” Yusuf said.

“The objective of OPEC is to ensure that we have a good price, so that we can get good revenue, because OPEC is a cartel that influences supply and price. Now that a major member has left, their capacity to wield that influence has diminished. That means the UAE is now free to sell as much crude as it wants to the market, which may lead to a reduction in price and in the power of OPEC to influence price.”

He added that even if Nigeria receives a higher production quota, the benefits could be wiped out by falling prices. “We can have more quota, but the price may be lower, because the function that OPEC plays is to stabilise prices. If prices are going down, OPEC can reduce supply. But now the organisation is weaker. So that is my perspective on the issue. The exit of the UAE is likely to be more of a disadvantage than an advantage. It may weaken oil prices,” he said.

Yusuf warned that Nigeria could face a worst-case scenario if it fails to improve output. “If the price is not strong enough because OPEC is now weaker and output is still not there, that is a double tragedy for the country,” he stated.

He urged the government to focus on boosting production and reducing reliance on crude exports. “For Nigeria, what the government can do is to improve our output so that even if the price is not strong enough and our output is okay, at least we would still have enough.

“Beyond that, we should depend less on crude oil. We should diversify our economy and export more refined products. That would give us more returns than exporting raw crude,” he added.

On the global stage, Head of Energy Research at MST Financial, Saul Kavonic, warned that the UAE’s decision could signal a broader breakdown within OPEC+.

“This could mark the beginning of the end for OPEC as we know it. With the UAE leaving, the organisation is effectively losing about 15 per cent of its capacity, along with one of its most disciplined and reliable producers. That raises serious concerns about the group’s ability to maintain cohesion and enforce production targets going forward,” he said.

The UAE, which joined OPEC in 1967, said its decision followed a comprehensive review of its production strategy and future energy outlook. In a statement issued by its Ministry of Energy and Infrastructure, the country said, “This decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production.

“It reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets.”

The ministry added that the move was driven by national interest and the need for greater flexibility in responding to market conditions. The exit comes amid rising geopolitical tensions in the Middle East, particularly around the Strait of Hormuz, a key global oil transit route, where disruptions have heightened concerns about supply volatility.

Despite these tensions, the UAE maintained that it would continue to supply oil responsibly while gradually increasing production based on market demand.

For Nigeria, however, the bigger concern remains its ability to respond effectively. The country has consistently struggled to meet its OPEC quota due to oil theft, pipeline vandalism, and underinvestment. Industry data also shows that OPEC+’s share of global oil supply has already declined, dropping to about 44 per cent in March from 48 per cent in February, underscoring weakening control over the market.

Founded in 1960, OPEC has historically played a central role in stabilising oil prices through coordinated production cuts. But internal disagreements, shifting national priorities, and the global energy transition have increasingly tested the alliance.

The UAE’s exit now amplifies those pressures, raising a critical question for Nigeria: whether it can adapt quickly enough to survive in a more volatile and less coordinated oil market.

For now, experts say the answer will depend less on global developments and more on Nigeria’s ability to fix its long-standing production challenges and reduce its dependence on crude oil revenues.