By Adedapo Adesanya

The price of the Brent crude oil grade declined by $1.01, or 1.5 per cent on Monday to $65.86 per barrel as economic worries from the US-China trade war pressured demand.

Also, the US West Texas Intermediate (WTI) crude was sold at $62.05 a barrel after it went down by 97 cents or 1.5 per cent amid conflicting signals from US President Donald Trump and the Chinese government over what progress was being made to de-escalate a trade war that could weaken global growth.

According to market analysts, the US-China trade war is dominating investor sentiment in moving oil prices, and has overshadowed other developments, including nuclear talks between the US and Iran and possible friction within the Organisation of the Petroleum Exporting Countries and its allies (OPEC+).

On Monday, China lashed out at the US’ negotiating tactics, with Zhao Chenxin, deputy director of the National Development and Reform Commission, saying: “They make up bargaining chips out of thin air, bully and go back on their words.”

The Chinese official was responding to President Trump’s statement earlier in the day that the US would not lower tariffs on China unless it offered up “something substantial”.

This came as US Treasury Secretary Scott Bessent on Sunday did not back President Trump’s assertion that negotiations with China were underway.

Amid this, crude oil inventories in China rose to the highest in almost three years in March, suggesting demand growth was lagging behind refinery processing rates, which hit a one-year high last month as Chinese oil processors took advantage of cheap Iranian and Russian crude.

It was reported that 1.74 million barrels daily went into storage last month in China, citing official data from China, making this the highest rate of storage inflows since June 2023.

Some OPEC+ members are expected to suggest that the group accelerate oil output hikes for a second consecutive month when they meet on May 5.

Earlier this month, there was an unexpected decision by OPEC+ to increase output by 411,000 barrels per day of oil in May, which was three times more than the group originally planned.

By Adedapo Adesanya

The Nigerian Export Promotion Council (NEPC) has announced a 24.75 per cent increase in the value of the country’s non-oil exports, reaching a total of $1.791 billion in the first quarter of 2025.

It stated that the amount surpassed the $1.436 billion generated in the first quarter of 2024.

The Executive Director of the council, Mrs Nonye Ayeni, disclosed the figures while addressing the journalists in Abuja on Monday.

She said the significant growth reflects the resilience and diversification of Nigeria’s export sector beyond crude oil, a shift aimed at reducing the country’s reliance on oil revenue.

According to her, the surge in non-oil exports was driven by increased economic activity in the Agriculture, Manufacturing, and Solid Minerals sectors.

On the US 14 per cent trade tariff, the council says it was positive for the country, adding that it was an opportunity to focus on value addition and increased competitiveness in the global market.

Recall that Nigeria has reiterated plans to boost its non-oil revenues with the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole, saying the country was stepping up its diversification efforts.

Earlier this month, the Trade Minister said the nation would tackle this challenge with pragmatism, aiming to boost non-oil exports and strengthen economic resilience under President Bola Tinubu’s Renewed Hope Agenda.

Mrs Oduwole had said the US remains a key partner, with bilateral trade reaching N31.1 trillion from 2015 to 2024.

The measures taken by the US presents destabilising challenges to price competitiveness and market access, especially in emerging and value-added sectors vital to our diversification agenda,” the minister explained.

“Government is implementing a range of interventions in policy, financing, infrastructure, and diplomacy to help Nigerian businesses remain competitive amidst regional and global tariff hikes,” Mrs Oduwole said as she outlined Nigeria’s response.

By Dipo Olowookere

A new report which listed the Top 10 Safest Countries for Foreign Investment has excluded Nigeria despite the efforts of the administration of President Bola Tinubu to make the country the preferred place to do business.

Since assuming office on May 29, 2023, Mr Tinubu has carried out some economic reforms aimed to attract investors to Nigeria, including the liberalisation of the foreign exchange (FX) market, removal of petrol subsidy, and streamlining the tax regime, among others.

In a recent study by Atmos, top 30 countries were identified based on economic stability, investment attractiveness, and political and economic stability.

In the outcome of the research made available to Business Post on Monday, it was stated that countries were evaluated using six metrics: economic stability rank, political stability score, global peace index, investment attractiveness, foreign direct investments (FDI), and GDP per capita. These metrics were ranked, with the top country receiving a score of 100.

“When evaluating investment potential, it’s clear that economic strength alone doesn’t paint the full picture.

“Political stability and a peaceful environment are equally essential in fostering a climate that attracts long-term investment. Investors are drawn to countries where risks are minimized and confidence in future growth is high, making these factors just as critical to a nation’s financial appeal,” the chief executive of Atmos, Mr Nick Cooke, stated.

Switzerland led the ranking as the lowest risk country to invest in, with a score of 100. It featured exceptional economic fundamentals and the highest GDP per capita among the top-ranked countries at nearly $100,000. Switzerland demonstrates balance across all metrics, ranking 2nd in economic stability while maintaining excellent political stability (1.07) and peace index scores (1.33).

Singapore followed in 2nd with a score of 90.21, standing out with the highest investment attractiveness (82.4) among the top three nations and exceptional foreign direct investment inflows of over $175 million, outperforming Switzerland in this metric. The city-state’s strategic position in Southeast Asia, combined with its second-place economic stability ranking, creates a powerful investment hub. Singapore’s global peace index of 1.3 is the best among all ranked countries, reflecting its excellent security environment.

The third of the list was Canada with a score of 89.53, demonstrating exceptional investment attractiveness (86.6) and solid political stability (0.82). Canada’s balanced approach to foreign investment has resulted in substantial foreign direct investment (FDI) inflows exceeding $47 million, positioning it as a reliable North American investment alternative. The country maintains strong economic fundamentals, offering a reasonable GDP per capita of $53,431.

Japan ranked 4th with a score of 88.77, featuring the highest investment attractiveness score (86.8) among all countries in the index. The Asian country has an excellent political stability (0.951) and a strong peace index rating (1.33), creating a secure environment for foreign capital. Despite having a lower GDP per capita than other top-five nations at $33,766, Japan’s economic resilience and technological innovation continue to attract nearly $20 million in foreign investments.

The 5th place was occupied by Germany with a score of 86.32. As Europe’s largest economy, Germany maintains excellent economic stability (ranked 3rd), following Switzerland and Singapore, and a strong investment attractiveness (84.6). With GDP per capita exceeding $54K and foreign direct investments approaching $20 million, Germany represents the centerpiece of European investment security.

Denmark is the 6th-lowest risk country to invest in, with a score of 84.38, featuring an impressive GDP per capita of $68,453 and excellent political stability (0.85). Denmark’s peace index of 1.3 places it among the safest nations globally, though its relatively modest FDI figures of $4.5 million reflect its smaller market size. The Nordic nations’ consistent economic policies and transparent business environment remain key strengths for investors seeking stability.

In the 7th, Australia scored 84.08, balancing strong political stability (0.921) with excellent investment attractiveness (81.9). Australia has attracted substantial foreign direct investments exceeding $32.5 million, second only to Singapore among the top ten countries. Australia has attracted $32.5 million in foreign investments, substantially higher than Denmark and second only to Singapore. It also offers a GDP per capita of $64,820 with a relatively stronger peace index (1.525) compared to several preceding countries.

Norway was in 8th with a score of 82.44. With the second-highest GDP per capita at $87,925, Norway only trails Switzerland in this metric. It maintains solid political stability (0.89) and investment attractiveness (78.8), though its economic stability rank (11th) is the lowest among the top ten countries. The Nordic nation has attracted over $10.7 million in foreign investments despite its relatively small market size.

The United Arab Emirates took the 9th position with a score of 80.71, claiming the top position in economic stability among all countries in the index. The UAE combines this economic strength with moderate political stability (0.681) and substantial foreign investments exceeding $22.3 million. At the same time, its relatively weaker peace index score (1.979) and lower investment attractiveness (59.6) compared to other top nations prevent a higher overall ranking.

The 10th spot was grabbed by New Zealand with a score of 76.96, featuring excellent peace index ratings (1.31) but faces challenges with its economic stability ranking (18th) and modest foreign investment inflows of $3.59 million. The country’s investment attractiveness score of 63.0 is significantly lower than that of other top-ranked nations, reflecting its geographical isolation and smaller market size.