Oil Market Rises Amid Economy, Demand Woes

Traders Union (TU) experts know that supply and demand rules control all markets. When traders trade, they usually use technical signals to find out if there is more supply or demand. In this guide, the analysts will delve into the world of supply and demand zones and explore their significance in trading. But before you dive in, it’s crucial to grasp the fundamentals. What you should know about supply and demand zones The guidance from TU’s analysts provides insight into the crucial aspects of demand and supply zone trading. It is important to understand these zones: Supply Zone – this

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

By Adedapo Adesanya A 10-man team has been inaugurated by the Nigerian Information Technology Development Agency (NITDA) with a task to come up with measures to cushion the impact of COVID-19 on Nigeria’s tech ecosystem. According to Mr Kashifu Inuwa, Director General of NITDA, the committee will also be charged with providing insight for the government on how to provide an enabling environment for startups. Not restricted to startups, the committee will extend its tentacles to small and medium scale businesses, and the technology ecosystem in general. The committee comprises some carefully selected brightest minds in technology, entrepreneurship, the media,

All is set for the season 9 of Nigeria’s family dance show, the Maltina Dance All themed ‘Happiness Amplified.’ At a media parley in Lagos last week in Lagos, organisers of the programme promised not to cut short the expectations of the viewers. Maltina, the premium non-alcoholic malt drink famous for sharing happiness and promoting family values, promised that the activities and dance routines lined up for this season will heighten the excitement and happiness shared by competing families and viewers of the dance show. Mr Franco Maria Maggi, Marketing Director, Nigerian Breweries Plc, said at the parley that, “Maltina

By Hussaini Monguno On November 15, 1884, 14 mainly European countries gathered in Berlin for a meeting which lasted to February 26, 1885. The aim of that conference was to split the continent of Africa and share it to the Europeans who were scrambling over it. The countries represented were; Austria-Hungary, Belgium, Denmark, France, Germany, Great Britain, Italy, the Netherlands. Others included; Portugal, Russia, Spain, Sweden-Norway (unified from 1814 to 1905), Turkey, and the United States of America. Of these 14 nations, France, Germany, Great Britain, and Portugal were the major players in the conference, controlling most of Africa at

By Dipo Olowookere On Monday, President Muhammadu Buhari announced the immediate lockdown of Kano State over the health crisis in the ancient city. In his speech on Monday night, President Buhari said the total lockdown will last two weeks and efforts would be made to ensure the state is assisted to bring situations under control. Kano State had witnessed strange deaths in the past days, raising tensions in some parts of the country. While the state government led by Mr Abdullahi Ganduje claimed the deaths were not unusual, others have said they may be linked with the deadly coronavirus disease.

By Dipo Olowookere President of the Association of Bureau De Change Operators of Nigeria (ABCON), Mr Aminu Gwadabe, has appealed to Central Bank of Nigeria (CBN) to allow bank transactions carried out by his members be free of Value Added Tax (VAT) and Commission on Turnover (COT) charges. According to him, these charges as well as abnormal bank charges and multiple exchange rates are parts of the challenges facing members of the group. Also, Mr Gwadabe said the apex bank should harmonise the rate it sells Dollar to the BDC operators and commercial banks. According to the ABCON boss, the

By Adedapo Adesanya The Nigeria Private Sector Coalition Against COVID-19 (CACOVID) has so far realised about N15.3 billion as contributions to tackle the coronavirus pandemic in the country. This was made known in a document released by Mr Isaac Okorafor, the Central Bank of Nigeria (CBN) Director, Corporate Communications Department, in Abuja on Wednesday. The document showed that the money raised as at April 1, had CBN and Aliko Dangote as the highest contributors of N2 billion each. It also revealed that Mr Abdul Samad Rabiu (BUA Sugar Refinery), Mr Segun Agbaje (GTB), Mr Tony Elumelu (UBA),  Oba Otudeko (First

By Dipo Olowookere MainData Nigeria (MDXi) and the Internet Exchange Point of Nigeria (IXPN) have announced a partnership aimed at expanding the peering of Internet Transit traffic within Nigeria. The partnership seeks to take advantage of the numerous networks and content providers already connected to MainOne to grow traffic in the Nigerian Internet Exchange. With its open access submarine cable system, Tier III data centre and IP transit network already connected to the Lagos, Accra, London and Amsterdam Internet Exchanges, MDXi will bring to the Exchange the capacity to connect directly with the greatest number of IP transit and Content

By Modupe Gbadeyanka The Nigerian National Petroleum Corporation (NNPC) has said that there is enough petroleum products in-country to provide for the needs of every Nigerian for a period of 36 days. The agency, therefore, stressed that there was no plan to increase the pump price of Premium Motor Spirit (PMS), also known as petrol, from its present N145 per litre. It pointed that the recent increase in bridging allowance to transporters from N6.20 to N7.20 per litre will not lead to an increase in the pump price of the product. Providing the clarification in Abuja on Wednesday, the Chief