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Global Stocks Uplifted by Oil Rally

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Stock markets were offered a welcome boost during trading on Tuesday following the sharp appreciation in oil prices that temporarily elevated confidence towards the global economy, consequently heightening investor risk appetite.

In Europe, stocks displayed resilience ahead of the looming ECB press conference despite expectations fading over the central bank unleashing further stimulus measures.

The optimism from rising oil prices dispersed into the US market with the S&P 500 surging to fresh 2016 highs above 2100 and this positive contagion could provide a short term lifeline for Asian equities, especially the Nikkei that was previously depressed from a strengthening Japanese Yen.

While these ongoing short-term gains in the stock markets show some improvement in investor risk appetite, market participants should remain alert because concerns over slowing global growth and incessant declines in commodity prices continue to lurk in the background.

With the resurgence in global stocks ignoring the firm fundamentals and evidently low confidence towards the global economy, it seems that the financial markets have become so sensitive that oil prices are now controlling global sentiment and subsequently dictating stock market movements.

Such a scenario simply spells more pain for stocks in the future, especially when investors digest the reality of the excessive oversupply in the oil markets which inevitably may send oil prices lower.

Euro braces ahead of ECB meeting
The Eurozone saga continues with the nation engrossed in a losing battle with tepid inflation, while deteriorating economic growth in Europe has left the ECB under immense pressure to act again.

Despite the painful declines in commodity prices and failing global growth obstructing the ECB’s 2% inflation goals, Mario Draghi may decide to remain on standby this week amid discussions of central banks running out of ammunition to stabilize the financial turmoil.

Investors should keep in mind that the last time the ECB embarked on aggressive stimulus measures in March, the market reaction was inverse with the Euro appreciating as fears intensified over the central banks inability to jumpstart Eurozone growth.

Mario Draghi may likely repeat his dovish mantra in a bid to devalue the Euro while also hinting of possible measures in the future if inflation fails to pick up.

The EURUSD is bullish on the daily timeframe and the new higher low at 1.1250 could provide a foundation for another an upsurge towards 1.1400.

Prices are trading above the daily 20 SMA while the MACD has also crossed to the upside. Previous light resistance at 1.1350 could transform into a dynamic support for an incline towards 1.1400.
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Sterling surges across the board
A combination of renewed risk appetite, partially alleviated concerns of a Brexit following a lead in the stay campaign, and potential profit taking offered a foundation for Sterling bulls to surge sharply against the Dollar during trading on Tuesday.

This move felt highly exaggerated and with the ongoing debate over the impact of a Brexit punishing investor attraction towards the currency, further declines in prices should be expected in the future.

Investors should keep in mind that this appreciation in the Sterling had nothing to do with an improved sentiment towards the currency and with expectations fading towards the BoE raising UK rates in 2016, any upsurge may be capped.

Focus may be directed on the average earnings and claimant count reports today with potential signs of weakness offering bearish investors an opportunity to install another round of heavy selling across the board.

The GBPUSD rallied above 1.4400 and while bulls may be commended for their valiant efforts, this relief rally could provide a platform for bears to send prices lower on the condition that 1.4500 defends.

Crude oil rattles markets
WTI bulls were offered short-term encouragement this week following the Kuwait strike which trimmed the nation’s oil output from 2.86 to 1.1mbdp and encouraged buyers to send crude oil prices to the highs of $42.80.

It should be kept in mind that strikes do not last forever and when Kuwait resumes oil production as normal, oil prices may be poised to decline back down towards $40.

The noise of strikes and ongoing talks of production freezes does not however drown out the disappointment from the OPEC meeting in Doha, and with the cartel’s credibility balancing on a thin line, investors may have become skeptical of anything the group has to say regarding freezes and output cuts.

Nothing has changed and sentiment remains bearish towards WTI oil, it only remains a matter of time until something triggers a steep and memorable decline.

From a technical standpoint, bears need to break back below $40 for a path towards $38.


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CADEF, Stakeholders Push for Zero Added Sugar Standards in Infant Foods

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Consumer advocates, health professionals and policymakers have called for urgent regulatory reforms to eliminate added sugars in infant foods, warning that current standards may be exposing Nigerian babies to avoidable long-term health risks.

CADEF, Stakeholders Push for Zero Added Sugar Standards in Infant Foods

Chiso Ndukwe-Okafor, Executive Director of CADEF

The call was made on Thursday at a high-level stakeholders’ meeting in Abuja organised by the Consumer Advocacy and Empowerment Foundation (CADEF) in partnership with Public Eye, where new findings on sugar content in baby foods triggered widespread concern.

Public Eye’s research focused on Cerelac, Nestlé’s widely consumed infant cereal across Africa. Laboratory tests on nearly 100 samples purchased in over 20 African countries revealed that 94 per cent contained added sugar. On average, products recorded about 6 grams of added sugar per serving equivalent to roughly one and a half sugar cubes with some markets reaching between 7 and 7.5 grams. Nigerian samples averaged 5 grams, with peaks of 6.1 grams.

The figures refer strictly to sugar added during manufacturing and exclude naturally occurring sugars present in ingredients such as grains, fruits and milk.

Nestlé however maintained that its products comply with local regulations and are fortified to address nutritional deficiencies.

However, the company has not explained why sugar-free formulations are available in Europe while African markets receive variants containing added sugar.

Opening the session, Chiso Ndukwe-Okafor, Executive Director of CADEF, stressed that the advocacy is not targeted at any single company but aimed at safeguarding children’s health and advancing a zero-added-sugar standard for infant foods in Nigeria.

“African babies are being fed sugar Europe would never accept,” she said, highlighting disparities in product formulations across regions.

Citing the findings, she noted that some cereal-based infant foods contain “over four grams, almost five grams of sugar,” but clarified that manufacturers are not breaching existing laws.

“They are complying with current regulations, which are based on Codex standards developed over 30 years ago,” she said, pointing to the outdated nature of the framework as the core issue.

She urged regulatory authorities to align national standards with current global health recommendations.

CADEF warned that early exposure to added sugars can shape children’s taste preferences and increase their risk of obesity, diabetes, dental disease and other non-communicable conditions later in life echoing guidance from the World Health Organization, which advises against added sugars in infant foods.

While acknowledging that existing sugar levels fall within Nigeria’s Codex-based standards, the organisation argued that the framework is no longer sufficient to protect infant nutrition.

It clarified that its concerns relate specifically to sugars deliberately added as sweeteners or enhancers, not naturally occurring sugars in raw ingredients.

Stakeholders at the meeting called on key regulators including the Standards Organisation of Nigeria (SON) and the National Agency for Food and Drug Administration and Control (NAFDAC) to review existing standards and enforce clearer, more transparent labelling requirements.

CADEF emphasised that parents deserve accurate, easy-to-understand information when making nutritional choices, noting that Nigerian consumers should enjoy the same level of product quality and protection available in other markets.

Among its recommendations is the introduction of mandatory front-of-pack labelling that clearly identifies and distinguishes sources of sugar, alongside policies to drive reformulation toward zero added sugar.

“We need front-of-pack labelling in simple language that separates the source of sugar on each product,” Ndukwe-Okafor said, adding that regulators and paediatric stakeholders expressed support for reform.

Also speaking, Adeyemo Adebayo of the Nutrition Division at the Federal Ministry of Health stressed that policy reforms must be complemented by sustained public advocacy to achieve meaningful impact.

He called for broader health education efforts beyond formal legislation, including engagement with traditional and religious leaders to drive grassroots awareness that infants do not require added sugar.

Jubril Mohammed, representing the Standards Organisation of Nigeria, said the agency’s role is to facilitate consensus-driven standards rather than impose unilateral decisions.

He noted that proposals such as eliminating added sugar must be backed by evidence and stakeholder agreement, adding that review processes can take up to a year.

He, however, expressed the agency’s willingness to collaborate with CADEF.

From a clinical perspective, Dr. Anthony Bawa, representing the Paediatric Association of Nigeria (PAN), called for stronger multi-sector collaboration involving academia, health institutions and lawmakers to address the risks associated with added sugars in infant diets.

He emphasised the importance of National Assembly involvement in enacting effective legislation to protect children’s health.

The meeting also highlighted international precedents. In India, sustained advocacy and regulatory pressure have compelled manufacturers to introduce multiple no-added-sugar variants of infant foods, demonstrating that reform is achievable.

As interim guidance, advocates urged parents to limit processed foods, avoid sugary drinks and sweets for young children, and prioritise natural options such as fruits.

“Don’t give children soft drinks. Don’t give them sweets,” Ndukwe-Okafor advised, recommending healthier alternatives like bananas and mangoes.

The coalition said it will engage senior policymakers and the National Assembly to push for stricter regulations, including a zero-added-sugar benchmark for infant foods in Nigeria.

Stakeholders agreed that a combination of regulatory reform, industry accountability and consumer education will be critical to safeguarding infant health and securing a healthier future.


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UK–Nigeria Skills and Schools Trade Mission Concludes with Strong Foundations for Education Partnership

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A high-level UK delegation has concluded a week-long skills and schools trade mission to Nigeria, marking a significant step forward in education and skills cooperation between the two countries.

Running from 19-23 April 2026 across Abuja and Lagos State, the mission brought together leading UK private schools, skills providers, and education institutions with Nigerian partners, schools, and the Honourable Minister of Education Dr Tunji Alausa.

The mission follows the high profile and well received state visit to the UK in March, which also included education engagements.  Supported by the UK’s Department for Business and Trade (DBT), the mission forms part of its new International Education Strategy, under which Nigeria has been identified as one of five priority education markets, spearheaded by Professor Sir Steve Smith, who is looking forward to visiting the country again this year.

The mission focused on in-country delivery of education, the establishment of world-renowned UK schools in Nigeria, and the development of skills and Technical and Vocational Education and Training (TVET) systems aligned with industry demand.

In Abuja, the delegation met with Nigeria’s Honourable Minister of Education, Dr Tunji Alausa, securing strong political backing for UK–Nigeria education partnerships and set the groundwork for ongoing institutional collaboration across both schools and skills.

In Lagos, delegates engaged further with potential partners and investors. In both cities the delegation was thrilled to visit local British curriculum schools and colleges to further enable them to experience first-hand the teaching and learning environment.

British Deputy High Commissioner, Jonny Baxter, said: “The UK and Nigeria share a deep and longstanding relationship, and opportunities in education are one of its most exciting frontiers.

“This mission has demonstrated the strong appetite on both sides to deepen collaboration in education and skills.”

“By bringing together UK schools and skills providers with Nigerian partners and policymakers, we are laying the foundations for even more long-term partnerships that support Nigeria’s education priorities, strengthen skills aligned to industry needs, and create opportunities for sustainable, in-country delivery as well as positioning Nigeria as the regional hub for high quality education.”

DBT Head of International Education, Sarah Chidgey, said: “This mission is a perfect example of the International Education Strategy being put into action, building on multiple two-way visits and the UK and Nigeria’s warm relationship. It has been heartening to see all the progress in UK Nigeria education collaboration since my first visit to Nigeria, as part of a wider delegation, in 2022.”

DBT’s mission concluded with a strong pipeline of follow-up activity, including targeted one-to-one meetings, MoU discussions, and agreed next steps between UK and Nigerian counterparts.

 


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Tinubu Seeks Senate Approval for $516m Sokoto-Badagry Highway Loan

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President Bola Tinubu has requested Senate approval for a $516.3 million foreign syndicated loan to fund key sections of the Sokoto-Badagry superhighway, a cornerstone of his Renewed Hope Agenda.

Tinubu Seeks Senate Approval for $516m Sokoto-Badagry Highway Loan

Tinubu

 

In a letter read by Senate President Godswill Akpabio during Thursday’s plenary, Tinubu invoked Sections 16 and 21 of the Debt Management Office Act, 2011, to secure financing via Deutsche Bank AG for Sections 1, Phase 1A, and 1B. The 1,000-kilometre project will span Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, linking Illela to Badagry and boosting trade, connectivity, and goods movement.

The nine-year loan, with a three-year grace period and interest at SOFR plus 5.3 per cent, includes a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). The Federal Government will provide over ₦265 billion in counterpart funding for land acquisition and infrastructure.

Akpabio referred the request to the Senate Committee on Local and Foreign Debts for a one-week turnaround report. He endorsed the borrowing, stating it advances road safety and national integration.

The highway aims to cut travel times and stimulate economic corridors, with the Federal Executive Council already approving the plan.


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