CPPE forecasts slight inflation moderation in 2025 due to Naira rebound and lower volatility. Rising global oil prices under Trump could ease inflation. High energy costs, insecurity, and global factors may keep inflation elevated. The Centre for the Promotion of Private Enterprise (CPPE) has predicted that Nigeria’s inflation may ease slightly in 2025. In a … Read more
The return of Donald Trump as the 47th President of the United States may lead to intensified inflationary pressures in Nigeria and a potential drop in global oil prices, which would negatively impact Nigeria’s oil revenue. This outlook was shared in an investor note from FXTM, a prominent trading platform, authored by Senior Market Analyst … Read more
The landing cost of Premium Motor Spirit (PMS), commonly known as petrol, has significantly decreased to N981 per litre, as reported by the Major Energies Marketers Association of Nigeria (MEMAN) on Thursday. This reduction marks a substantial drop from the previous price of around N1,130 per litre observed in recent weeks, reflecting a decline of … Read more
The surge is following announcements by World’s Largest exporters to cut output by more than one million barrels a day The reduction in output is being made by members of the Opec+ oil producers This is coming at a time oil prices were stabilizing worldwide Eko Hot Blog reports that Oil prices have surged after … Read more
Brent crude, the international benchmark, increased 4.36 per cent, to $64.67 per barrel on Friday Oil prices surged more than four percent on Friday, over mounting fears that it will take weeks to refloat Ever Given, a mega-container ship stranded in Egypt’s Suez Canal. Brent crude, the international benchmark, increased 4.36 per cent, to $64.67 … Read more
The new strain of the virulent COVID-19 virus discovered in United Kingdom and now in other countries has begun to take a toll on crude oil as hopes of prices rebound become bleak. Oil prices took a dip on Tuesday as almost 2 percent slump in prices was recorded, eroding the slight rise in prices … Read more
The uplifting news of aggressive COVID-19 vaccine roll out has impacted positively on oil with prices souring to their highest on Thursday since march before the pandemic altered the shape of human affairs. Eko Hot Blog reports that the development has triggered a cocky anticipation of strengthening oil demand early next year According to Bloomberg, … Read more
After months of downward spiral, oil prices are rebounding and, on Friday, inching close to their highest level since March. The development is coming against the backdrop of major producers agreement to ease their oil output cuts next year more gradually than previously planned — giving a delicate market more time to absorb the extra … Read more
Despite Brent-crude futures rallying in recent weeks, Nigeria is facing a fast-looming future without reliance on fiscal revenue from its massive oil wealth, Bloomberg reports. Amid the economic fallout from the COVID-19 pandemic, which has brought to a halt economic activity and travel, demand for crude has been crippled, resulting in a dramatic oversupply. Accordingly, … Read more
The United States detected a heightened state of alert by Iran’s missile forces, as President Donald Trump warned the U.S. would strike back, “perhaps in a disproportionate manner,” if Iran attacked any American person or target. Iraq’s parliament on Sunday recommended all foreign troops be ordered out of the country after the U.S. killing of … Read more