Economy
Trade Deal, Possible OPEC+ Pull Out to Lift Oil Prices This Week
By Adedapo Adesanya
Prices of crude oil look strong this week at the global market following fresh optimism last week on the trade deal between the United States and China.
During trading last week, this pushed prices higher as futures post a fourth consecutive week of gains, indicating an aggregate of three months of gains.
As for the Brent Crude, it rallied to its highest level since September to $68 per barrel, though it later fell to $66, while the West Texas Intermediate posted more than 2 percent gains in all four weeks reaching as high as $62 per barrel.
This new week looks better for oil especially with the new year coming. This is expected to be buoyed by the possible signing of an agreement between the US and China in the coming weeks.
President Donald Trump made new comments saying that both countries would “very shortly” sign the phase one trade pact. He told reporters, “We will ultimately, yes, when we get together. And we’ll be having a quicker signing because we want to get it done. The deal is done, it’s just being translated right now.” This was then backed up from China’s action as it agreed to cut tariffs from December 26 on food items and some other imports.
Consideration is also on United State’s crude oil inventories, which fell more than expected last week. According to data sourced from the American Petroleum Institute (API), stocks fell by 7.9 million barrels to 441.1 million barrels, below expectations of 1.83 million barrels.
On its end, the Energy Information Administration (EIA) reported that US crude inventories fell by 5.5 million, a contrast to the API data, as they foresaw up to 3 million barrels decrease.
As the new week begins, investors will also be looking at any remark made concerning the OPEC+ output cut deal of up to 1.7 million barrels as there are strong indications that countries like Russia may soon choose to opt out of the deal to help stop an oversupply that could lead to lower prices in 2020.
Business Post had reported recently that the Russian Energy Minister, Alexander Novak remarked on the possibility of this, saying, “This is not an indefinite process. A decision on the exit should be gradually taken in order to keep up market share and so that our companies would be able to provide and implement their future projects.”
The OPEC alliance had on December 6 decided to extend production cuts, and alongside the optimism surrounding the US-China trade agreement, these decisions will likely spur the direction of oil prices this week with chances of the WTI and Brent futures reaching $62 and $68 respectively.
For the Nigerian crude futures, the Bonny Light, banking on this, may trade close to $69 per barrel, while Brass River and Qua Iboe, which both traded at the $69 mark, may push to $70 per barrel.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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