News

Over 100 dead after explosion at an illegal Nigerian oil refinery

At least 110 people have been killed in an explosion at an illegal oil refinery in Nigeria

The overnight blast happened at a depot on the border of Nigeria’s Rivers and Imo states.

The nation’s President says there is “shock and trauma“ following the event in which victims were burnt beyond recognition.

Local police are searching for the owner of the illegal operation, which has caused damage to local fishing and agriculture.

These illegal practices are seen to be relatively easy to pull off because of a lack of oversight in Nigeria.

Authorities have been struggling to curb the growth of illegal plants where stolen crude oil is refined. The practices have been increasing because of a rising rate of unemployment and poverty in the country.

However, Nigeria’s President has ordered forces to increase their efforts to shut them down.

Up next
Is Australia’s economy being held hostage by the housing market?

Australia’s growing dependence on property is raising questions about the long-term strength of the economy, with housing affordability.

Read the story →
Ticker Today takes a daily view of the world of news, politics and business.With Ahron YoungWhisky & Suits explores law, property finance and business over fine whisky.With Imran Khan and Chris ChristofiThe Founders Method explores practical lessons and systems for entrepreneursWith Jonathan Byrt and Jesse LeeworthyThe Connector explores property and urban growth across Australia and the UK.With Belinda CoateThe Property Playbook delivers research-led insights for property investors.With Tim Graham and Terry RyderState of Hospitality explores the challenges facing Australia's hospitality.With Jeremy KoadlowBuying Power helps young professionals enter property and build lasting wealth.With Victor and Reshmi KumarThe Airport Economist explores global trade, business and economic outlooks.With Tim HarcourtMedia Movers explores the trends shaping Australia's media and global news.With James ManningBroker Business explores strategies to build, grow and sustain a business.With Rex AfrasiabiMoney Matters explores practical financial strategies to build lasting wealth.With Dr Steven EnticottBeyond Education explores the ideas and technology shaping future learning.With Greg CampitelliTicker Air explores the latest aviation news, travel trends and developments.With Ahron YoungEarly Years Dialogue explores the issues shaping Australia's early learning.With Paul MondoMarkets and Machines explores AI, regulation and trends shaping the markets.With Chris BergSocial Intelligence explores how social media and AI transform our daily lives.With Dr Karen SutherlandThe AI Edge explores how artificial intelligence reshapes the world economy.With Brad Gastwirth

More from Ticker

Watch

More in News

View all →