OPEC warns of $14.9tn investment gap in upstream sector –

The Organization of the Petroleum Exporting Countries has called for urgent and sustained investment in the global upstream oil sector, warning that a cumulative $14.9tn will be required between 2025 and 2050 to meet projected demand and prevent a future energy crisis. This investment figure, equivalent to $574bn annually, represents the bulk of the $18.2 trillion in total oil-related investments needed over the 25-year period….(Read More)

 Stricter lending looms as CBN’s capital restoration deadline ends –

As the deadline for the Capital Restoration Plan expires today, analysts warn banks may adopt stricter lending practices, though the policy is expected to stabilize the financial system in the long run, writes OLUWAKEMI ABIMBOLA. Experts have projected that the capital restoration plan mandated by the Central Bank of Nigeria to support banks’ exit from the forbearance regime would have a short-term credit-tightening impact but lead to stability in the long term……..(Read More)

 Stock Market Records N3.46trn Weekly Gain, Highest Surge This Year –

The Nigerian stock market recorded an impressive performance last week, returning its highest weekly gain of N3.46 trillion for the year so far. The market lit up the week, riding on the back of strong investor confidence, sector-wide momentum, and an influx of funds from a softening money market. The bullish rally reached new heights, as the NGX All-Share Index (ASI) surged by 4.26 per cent week-on-week, crossing the 126,000-point threshold for the first time to settle at 126,149.59 index points. Also, the overall market capitalization gained N3.46 trillion to close the week at N 79.803 trillion……..(Read More)

Marketers back refineries’ sale, project lower fuel prices–

Oil marketers and industry stakeholders have thrown their weight behind the proposed sale of Nigeria’s refineries under the management of the Nigerian National Petroleum Company Limited, calling for transparency, inclusiveness, and accountability in the process. They noted that the sale or privatisation of the Port Harcourt, Warri, and Kaduna refineries, which have gulped trillions of naira in rehabilitation and maintenance with little or no result, will finally open the downstream sector to competition, ensure better pricing, and stop what many described as a financial black hole……..(Read More)

FPI Inflows Soar 134% in June, Boosting Confidence in Nigeria’s FX Market –

Foreign portfolio investors (FPIs) ramped up their participation in Nigeria’s foreign exchange market in June, with inflows jumping by 133.6 per cent month-on-month to $2.73 billion, the highest level in 29 months. This surge reflects growing investor confidence in Nigeria’s reform drive, improved FX market transparency, and attractive yields on short-term instruments. According to data from FMDQ, FPIs accounted for the bulk of foreign inflows, which made up 56.3 per cent of total FX receipts in June……(Read More)

Trump’s tariffs: What’s in effect and what could be in store? –

US President Donald Trump has launched a global trade war with an array of tariffs that target individual products and countries. Trump has set a baseline tariff of 10 per cent on all imports to the United States, as well as additional duties on certain products or countries. Here is a list of targeted tariffs he has implemented or threatened to put in place. Product tariffs in effect. Steel and aluminum – 50 per cent Autos and auto parts – 25 per cent Product tariffs Copper – 50 per cent to take effect Aug. 1………..(Read More)