Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Bayo Ojulari, has reaffirmed the commitment of the company towards reviving the state-owned moribund refineries. Ojulari, the NNPCL management is determined to ensure that the refineries located in Port Harcourt, Warri, and Kaduna are fully rehabilitated and operate effectively. In a statement via …
U.S. President Donald Trump and South Korean President Lee Jae Myung have finalized a long-awaited trade and investment deal during Trump’s visit to South Korea. The breakthrough came during his ongoing Asia tour and marks a major step in strengthening U.S.–Korea economic ties. Speaking at a dinner on the sidelines of the Asia-Pacific forum in …
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called for massive investments in the oil and gas sector to reduce Africa’s spending on hydrocarbon imports. The minister made the call during his keynote speech at the opening ceremony of the 2025 Oil Trading and Logistics (OTL) Africa Downstream Energy Week in …
Gold’s rally shows no sign of slowing down as analysts predict the precious metal will hit record levels next year. Data shows 39 analysts and traders forecast an average gold price of $4,275 per ounce in 2026, the first time projections have crossed the $4,000 mark. For 2025, analysts expect prices to average $3,400 per …
Oil prices steadied on Monday as optimism over a possible trade deal framework between the United States and China helped counter persistent concerns about weak global crude demand. Brent crude futures slipped by 14 cents, or 0.2%, to $65.70 per barrel at 12:27 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 9 cents to …
Global stock markets climbed on Monday, buoyed by renewed optimism over progress in U.S.–China trade talks, while gold and bonds fell as investors shifted toward riskier assets. Top economic officials from both countries reached a preliminary trade deal framework ahead of a meeting between Presidents Donald Trump and Xi Jinping in South Korea later this …
The U.S. Federal Reserve is expected to announce another quarter-point interest rate cut this week, its second this year as policymakers move to cushion a slowing labour market and maintain economic stability. Analysts predict the rate reduction will bring the federal funds rate to between 3.75% and 4.00%, with more cuts likely in December or …
Peter Obi and others highlight benefits of decentralised ports to the Nigerian economy. The recent approval of a $1 billion investment aimed at modernising the Apapa and Tin-Can Island ports in Lagos by the Federal Government has reignited calls for decentralisation of seaport infrastructure across Nigeria. Analysts believe that developing seaports in other maritime …
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said Nigeria currently has the capacity to produce more than two million barrels of crude oil per day and would seek an upward review of the country’s production quota at the next meeting of the Organisation of Petroleum Exporting Countries (OPEC) in November. Currently, Nigeria’s …
In a sign of shifting priorities at the world’s most powerful central bank, the U.S. Federal Reserve is expected to cut interest rates twice more before year-end, a move analysts say reflects mounting concern over a slowing job market despite persistent inflation. According to a survey, out of 117 economists, 115 expect the Fed to …
