Crude Prices Bearish Despite OPEC Commitment to Production Cut

By Adedapo Adesanya Ahead of next week’s Monetary Policy Committee (MPC) meeting scheduled for Monday, September 25 and Tuesday, September 26, the Lagos Chamber of Commerce and Industry (LCCI) has called on the Central Bank of Nigeria (CBN) to pause its interest rate hike. In a statement signed by the Director-General, Mrs Chinyere Almona, the group said this was necessary to relieve Nigerians of the pressure on the supply side following a further surge in the inflation rate. The National Bureau of Statistics (NBS) revealed last Friday that the average cost of goods and services rose by 25.80 per cent

A recently unveiled comprehensive report by experts at Traders Union (TU) has outlined the golden hours for Forex trading in India. As the global market wades through waves of unpredictability, Indian traders have been presented with a detailed guide on when to dive in. While it’s a well-known fact that the Forex market operates around the clock, not all hours are equal. As per the Traders Union report, the sweet spot for Forex trading in India lies between 6.00-12.00 GMT and 18.00-0.00 GMT. These windows promise maximum liquidity, tight spreads, and minimal slippage, factors that are crucial for profitable trading.

By Adedapo Adesanya Oil prices fell by 1 per cent on Wednesday after the US Federal Reserve left interest rates unchanged, as widely expected. Brent futures fell 81 cents or 0.9 per cent to settle at $93.53 a barrel, while the US West Texas Intermediate crude (WTI) fell by 92 cents or 1.0 per cent to trade at $90.28 per barrel. Wednesday’s decision means the benchmark short-term interest rate will remain at 5.25 per cent to 5.5 per cent, a 22-year high. This is only the second time since March 2022 that the US central bank meetings have concluded without

By Aduragbemi Omiyale The Nigerian Exchange (NGX) Limited is looking to drive gender equality and sustainable development in the country through strategic instruments like gender bonds and gender-themed sustainable financing mechanisms. The local bourse said it hopes to achieve this goal by collaborating with a global organisation like the United Nations Women (UN Women). According to the Divisional Head of Business Support Services and General Counsel at NGX, Ms Irene Robinson-Ayanwale, there is a need to galvanize public and private sector stakeholders to the development and adoption of gender-responsive instruments in Nigeria’s capital market and mobilise public and private capital

By Modupe Gbadeyanka Joint Admission and Matriculation Board (JAMB) has announced cut off marks for universities and polytechnics and colleges of education in the country. This announcement was made by the exam agency after a consultative meeting with Vice Chancellors (VCs) and other Heads of tertiary institutions in Nigeria. According to JAMB, the minimum cut off mark for universities in the country is 120, while for polytechnics and colleges of education is 100. Registrar of JAMB, Mr Ishaq Oloyede, speaking at the 2017/2018 Combined Policy Meetings on Admissions into Tertiary Institutions in Nigeria, said while no admission will be made

By ‘Muyiwa Osifuye In our private lives, we set out personal goals and objectives. Within a family, there are expectations — be it nuclear or extended (depending on the social mores of a place). Every head of the family or a single parent, wish for a certain outcome and, oh yes, the wise ones know that things don’t go as expected. Imagine a racing car on the track, no matter how well tuned or powerful it may be, without a conscientious driver behind the wheel, will not get to the finishing line. (I am aware there are now driverless vehicles

By Investors Hub Asian stocks finished broadly higher on Tuesday as overnight gains on Wall Street and solid economic data from Germany and the U.S. helped investors shrug off renewed worries over political uncertainty in Germany. China’s Shanghai Composite Index climbed 18.69 points or 0.6 percent to finish at 3,411.09, while Hong Kong’s Hang Seng Index surged up 557.76 points or 1.9 percent to 29,818.07. Japanese shares rose notably as the greenback remained supported by higher U.S. bond yields. The Nikkei 225 Index advanced 154.72 points or 0.7 percent to 22,416.48, and the broader Topix closed 0.7 percent higher at

By Adedapo Adesanya With logistics recognised as the key to unlocking Africa’s commerce potential, Haul247, a Google Black Founders’ Fund grantee, has positioned itself as the continent’s Airbnb for trucks and warehouses. Africa’s logistics industry remains fragmented, with informal carriers operating over 80 per cent of the market with one to three vehicles, indicating an urgent need to address the supply-demand mismatch since the ecosystem cannot optimize itself. Experts argue that while the value of all logistics assets, including infrastructure and vehicles, can easily account for half of an advanced economy’s gross domestic product (GDP), Africa’s logistics sector continues to

By Dipo Olowookere Figures have shown that unemployment and underemployment in Nigeria were higher for women than men in the fourth quarter of last year. In the Unemployment and Under-employment Rate by Gender subsection of a report released yesterday by the National Bureau of Statistics (NBS), in the period under review, 16.3 percent of women in the labour force (those between 15 – 65 willing, able and actively working or searching for work) were unemployed in Q4 2016, and a further 24.2 percent of women in the labour force were underemployed. On the other hand, 12.3 percent of males were

By Adedapo Adesanya The federal government has floated two schemes to support over 100,000 Micro, Small and Medium Enterprises (MSMEs) in the country who suffered the harsh effects of COVID-19. The schemes; Survival Fund and the Guaranteed Off-take Stimulus Schemes, were inaugurated as part of the Nigeria Economic Sustainability Plan (NESP) of President Muhammadu Buhari’s administration by the Minister of State for Industry, Trade and Investment, Mrs Mariam Katagum. The minister, who is also Chairperson of the Steering Committee during the inauguration of the initiative at a world press conference on Thursday, said that over 1.7 million Nigerians would be

By Ebitonye Akpodigha President Muhammadu Buhari, on Monday, October 24, 2016, held a closed-door meeting with Governors under the platform of the All Progressives Congress (APC). The meeting is taking place at the Presidential Villa in Aso Rock, Abuja. The APC Governors were led to the closed-door meeting by chairman of the Progressive Governors Forum, Mr Rochas Okorocha of Imo State. Other Governors at the private discussions with the President are those from Adamawa, Plateau, Kogi, Kaduna, Edo, Ogun, Kano, Kebbi and Benue States. The reason for the meeting is not yet known, but there are strong indications that it

By Dipo Olowookere The Centre for Human Rights at the University of Pretoria, South Africa, in collaboration with the Office of the United Nations High Commissioner for Human Rights and other partners, is organizing the 9th Nelson Mandela World Human Rights Moot Court Competition at the Palais des Nations in Geneva from 18 to 21 July 2017. The competition, which is held in English, is open to undergraduate and masters law students from universities around the world. Students are invited to argue a hypothetical human rights case before a panel of top international lawyers. The competition is expected to bring