Author: Ogochukwu Ndubuisi

Oil Prices Rise on Geopolitical Risks, China Imports Grow Oil prices surged for the second consecutive day, gaining more than 0.80% on Tuesday after hitting its lowest levels since June last week. The upward move is largely driven by a mix of geopolitical risks in light of both U.S.–Venezuela tensions and OPEC+ supply dynamics, Samer Hasn, Senior Market Analyst at XS.com said in a commentary note. At the same time, expectations of a more accommodative Federal Reserve are adding to the support, keeping sentiment constructive after weeks of pressure on crude. Geopolitical tensions are once again playing a critical role.…

Anti-Union Practice: Dangote, NUPENG Talks End in Deadlock A marathon meeting convened by the Federal Government to resolve NUPENG’s strike against alleged Dangote Refinery’s anti- union practices ended in stalemate at dawn. The Federal Government, through the Ministry of Labour and Employment, had convened the emergency meeting in a bid to end the planned industrial action on Monday in Abuja. The meeting aimed to address allegations of anti-union practices against the Dangote Refinery, but discussions reportedly broke down as the Dangote representatives’ walkout of the meeting. The Minister of Labour and Employment, Alhaji Muhammad Dingyadi, who presided over the meeting,…

Naira Strengthens to N1506 as Foreign Reserves Hit $41.5bn The Nigerian local currency, the naira, appreciated to N1,506 per dollar at the official window as the nation’s foreign reserves reached $41.500 billion. According to FX update released by the Central Bank of Nigeria (CBN) spot rate settled at N1506.8433 per dollar at the official window on Monday in the absence of significant FX demand pressure. The exchange rate appreciated from N1,514.8671 last week due to sufficient US dollar liquidity in the currency market. Analysts projected that the naira will remain relatively stronger in the local currency amidst broader pressures on…

PNC Announces Agreement to Acquire FirstBank for $4.1bn The PNC Financial Services Group, Inc. (NYSE: PNC) today announced a definitive agreement to acquire FirstBank Holding Company, including its banking subsidiary FirstBank, headquartered in Lakewood, CO for $.1 billion. FirstBank, with $26.8 billion in assets as of June 30, 2025, provides commercial and retail banking services across Colorado and Arizona. FirstBank operates 95 branches, with a leading position in Colorado and a substantial presence in Arizona. The addition of FirstBank’s strong presence in these fast-growing markets will reinforce PNC as a leading national bank in the United States. The combination will…

Climate Change: Africa Emits Little But Suffers Most Africa is responsible for less than four per cent of global emissions but among the most heavily impacted by climate change, says the International Organization for Migration (IOM). According to IOM, rising droughts, floods and environmental degradation are driving displacement across the continent, leaving millions vulnerable. In a statement, on Monday, the organisation urged a shift in perspective, positioning human mobility as a catalyst for adaptation and sustainability. According to IOM, the approach aligns with its Continental Strategy for Africa 2025–2029, which prioritises African-led, evidence-based solutions for building community resilience. It issued…

Top Cryptocurrencies Rises as Markets Eye Fed Rates Cut Top cryptocurrencies gained ahead of U.S. Federal Reserve’s rates decision while the market assessed latest job data – several large altcoins were rising. According to data from CoinMarketCap.com, Bitcoin (BTCUSD) price has increased by 0.73% to $112,057 in the last 24 hours due to fresh retail investors’ demand. Bitcoin extended its recovery from a low of $109,993 on Sept. 6, reaching an intraday high of $112,107 early Monday. The world’s largest cryptocurrency hit a new high of more than $124,000 last month amid optimism over interest-rate cuts. While Bitcoin, Ethereum and…

Leadway Holdings Acquires 100% Stake in PAL Pensions Leadway Holdings has acquired full ownership of Pensions Alliance Limited (PAL), a leading Pension Fund Administrator (PFA), in a strategic move to reshape Nigeria’s pension landscape. This acquisition, announced on September 6, 2025, marks a significant milestone in the country’s financial services sector, as it strengthens Leadway Holdings’ footprint in the pension industry. The transaction involves the transfer of ownership from FSDH Holding Company Limited and Africa Alliance Insurance PLC to Leadway Holdings, pending regulatory approvals. With this acquisition, PAL Pensions will merge with Leadway Pensure, creating one of the largest and…

Agribusiness : FG Unveils Post-Harvest System Transformation Programme The Federal Government has unveiled the Nigeria Postharvest Systems Transformation Programme (NiPHaST), to ensure a resilient, efficient, and inclusive post harvest handling and storage system that reduces losses of produce. This is disclosed in a statement by Ezeaja Ikemefuna, Head, Information Department, Ministry of Agriculture and Food Security on Sunday in Abuja. Ikemefuna said the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, stated this at the Nigeria Legacy Programme organised by the Africa Food Systems Forum in Dakar, Senegal. The minister said NiPHaST also aimed to enhance incomes as well…

Oil Rallies on Russia-Ukraine Clashes Fuel Supply Concerns Oil rallies in the commodities market on Monday as escalating and aggressive Russia-Ukraine clashes fuelled supply concerns while the Organisation of Petroleum Exporting Countries (OPEC) and allies (OPEC+) delivered a smaller-than-expected output hike. Brent crude was trading at $66.34 per barrel, up by 1.3% from the previous close of $65.45. US benchmark West Texas Intermediate (WTI) rose 1.4% to $62.60 from $61.70 in the prior session. Oil prices climbed as Russia launched its largest airstrike on Ukraine since the start of the war, stoking fears of tougher sanctions and renewed supply risks.…

United Nigeria Seals Boeing 737-800 Acquisition Deal United Nigeria Airlines (UNA) has signed an aircraft sale and purchase agreement with Southwest Airlines for the delivery of six Boeing 737-800 aircraft to deepen domestic, regional and international operations. The Chairman of United Nigeria Airlines, Prof. Obiora Okonkwo, announced this in a statement on Sunday in Lagos. Okonkwo said that the signing ceremony held at the corporate campus of Southwest Airlines in Dallas in the U.S. and was brokered by SkyWorks Holdings, LLC. According to Okonkwo, the development marked a new phase in the airline’s strategic plan and growth. Okonkwo said that…