Trump seeks resolution to conflict with Iran amid extended ceasefire
via Punch Nigeria3 min read
President Donald Trump has extended a ceasefire with Iran indefinitely, signaling a potential shift towards de-escalation in the conflict that began on February 28 with actions by Israel and the United States. Trump maintains a naval blockade, which Iran demands be lifted before any agreement can be reached. Negotiations with Iran's Islamic republic present a challenge for Trump, who is accustomed to quick deals, as Iranian diplomats are described as methodical and unyielding. Hopes for progress at a second round of talks in Pakistan, with Vice President JD Vance designated to attend, were dashed when Iran refused to confirm its attendance. Trump stated the ceasefire extension was due to Iran's leadership being "fractured" and needing time to formulate a proposal. Alex Vatanka, a senior fellow at the Middle East Institute, noted that Trump has avoided further military action. The conflict has been politically damaging for Trump, facing opposition even from his Republican base. Iran responded to the attack by asserting control over the Strait of Hormuz, impacting global oil prices. Danny Citrinowicz, a former Israeli intelligence expert, believes Iran's clerical state is not on the verge of collapse and will not surrender. Citrinowicz suggests Trump is seeking to exhaust all political options and is "fed up with this war." However, Iranian leaders are suspicious of Trump, given past instances of negotiations preceding military actions. Vatanka suggested a potential off-ramp wh
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The Federal Government of Nigeria is planning to waive debts owed by domestic airlines to aviation agencies to alleviate the impact of the ongoing Jet A1 fuel crisis. Minister of Aviation and Aerospace Development, Festus Keyamo, announced this after a meeting with the President. The President will consider a "generous discount" on debts owed to agencies like NAMA, FAAN, and NCAA. Additionally, the President intends to establish a committee to address the multiple levies, taxes, and fees on domestic tickets to provide relief to Nigerians. The Chairman/Chief Executive Officer of Air Peace, Allen Onyema, highlighted that the crisis stems from an disproportionate 300% increase in Jet A1 fuel prices in Nigeria, which he states is not aligned with global crude oil price increases. Onyema also mentioned the high cost of acquiring funding for airlines in Nigeria, which stands at 30 to 35 percent compared to three percent globally, leading to airlines accumulating debt. Airline Operators of Nigeria had previously threatened to suspend operations nationwide due to the soaring cost of Jet A1, which increased from approximately N900 per litre to over N3,300 per litre within weeks. This planned shutdown was temporarily suspended following appeals from the Minister of Aviation and Aerospace Development.
Dr. Abubakar Dantsoho, Managing Director of the Nigerian Ports Authority, stated that Nigeria currently handles only about 25% of cargo traffic in the West African region, despite accounting for over 60% of West Africa’s gross domestic product. He made these remarks at the Blue Economy Investment Summit in Abuja, highlighting that Nigeria has not fully optimized its potential. Dantsoho assured investors that the Federal Government, through the Federal Ministry of Marine and Blue Economy, is implementing reforms to reposition the sector. Key initiatives include port modernization, deployment of a Trade Single Window, implementation of a Port Community System, development of deep seaports, and full digitalization of port operations. He emphasized the central role of private sector funding to achieve these goals, noting that the NPA is actively encouraging project financing to bridge infrastructure gaps and improve efficiency. The reforms aim to enhance port efficiency, improve connectivity, reduce freight costs, and boost non-oil exports, ultimately driving revenue growth. Dantsoho stressed that competitiveness in the global maritime industry requires efficient operations, competitive pricing, and strong hinterland connectivity, adding that Nigerian ports must remain adaptive to evolving global shipping trends to emerge as a leading maritime logistics hub in Africa.
The Nigerian Investment Promotion Commission NIPC recently hosted a United Kingdom trade and investment delegation in Abuja, aiming to position Nigeria as a reform-driven and competitive destination for global capital. The UK–Nigeria Trade and Investment Mission, held from April 20 to 21, 2026, was a collaboration with DMA Invest and the UK Department of Trade, with participation from the British High Commission and private sector stakeholders. The NIPC stated that the mission delivered a clear message to potential investors that Nigeria is open for business and ready to compete. The two-day engagement included ministerial roundtables, sector-specific discussions, and targeted Business-to-Government and Business-to-Business meetings designed to facilitate concrete investment deals. Participants focused on identifying bankable opportunities to accelerate investment inflows and deepen bilateral economic ties. DMA Invest reportedly described the mission's performance as its best ever, attributing this to ongoing institutional reforms, improved coordination, and efforts to create an investor-focused environment. Aisha Rimi, Executive Secretary and Chief Executive Officer of NIPC, led the engagements, emphasizing that the mission was about converting strategic discussions into real projects and partnerships that would impact Nigeria’s economy. She highlighted the importance of translating gains from President Bola Tinubu's recent state visit and other UK–Nigeria engagements into m
Must ReadForeign portfolio participation on the Nigerian Exchange Limited saw a significant recovery in March 2026, with total foreign transactions increasing by 107.74 percent to N288.82 billion. This surge in foreign inflows, from N72.32 billion in February to N181.77 billion in March, suggests that international investors are increasingly finding value in Nigerian equities due to recent market re-ratings and improved foreign exchange liquidity. Despite this, domestic investors continue to dominate the bourse, accounting for 83.44 percent of total transactions, with institutional investors outperforming retail participants. The increase in foreign inflows comes amid aggressive fiscal and monetary reforms aimed at stabilizing the naira and attracting foreign direct investment. Total market transactions for the first quarter of 2026 reached N4.148 trillion, an 85.87 percent increase compared to the same period in 2025, reflecting a broader market rally. Over a 19-year period, domestic transactions have increased significantly by 160.83 percent. Market observers expect institutional investors to maintain their leading role, while foreign participation is projected to remain sensitive to macroeconomic indicators, particularly inflation data and Central Bank of Nigeria interest rate decisions.