General News
Q2 outlook for Oil & What it means for the Nigerian Economy

Q2 Outlook – WTI Oil: Near 30% rally in Oil so far this year unjustifiable
The near 30% rally in WTI Oil during the first quarter of 2019 is difficult to justify when taking into account the progressive concerns that are mounting regarding a global economic downturn. The rally has been supported by improved market confidence that efforts from OPEC+ have tightened the supply in the market, but whether this encouraging sentiment can continue would likely depend on whether Russia continues to support production cuts.
As such, a result to an unprecedented 30% rally over the last quarter, the commodity is going to enter the new quarter as a prime contender to suffer from a market correction. The probability is high that fears over a deceleration in world economic momentum will only get louder as the year progresses, meaning Oil investors will need to re-assess into expectations what impact a global slowdown will have on future demand. A plethora of evidence through data releases from different economies across the globe has already pointed out that a downturn in growth is impending – if the slowdown hasn’t already arrived.
Market perception is that OPEC cuts are working but demand outlook at risk
One of the major risks for the price of Oil in the second quarter is the increased probability that world economic forecasts for 2019 will be revised lower. While a great volume of noise in the Oil atmosphere is created around headlines involving production, OPEC or even more recently OPEC+, it often gets underlooked just how important Oil demand is for its valuation. Reduced demand is a negative for Oil price and the prospect of further lower demand on global economic health fears will risk re-igniting oversupply concerns that have dominated headlines since the spectacular price crash first occurred in 2014, despite repeated measures and attempts by OPEC and co to rebalance the market.
Iran waivers a wildcard, Saudi Arabia to remain committed to output cuts
If you were to take the contrarian view, there are a few reasons to remain optimistic that Oil can resume its price rebound in Q2. This would however, include some unpredictable risk elements around politics for a commodity that has historically behaved with an extreme level of sensitivity to politics.
Waivers on Iranian sanctions are set to expire over the coming months and if President Trump adopts a hardline approach that results in the taps for Iranian Oil supply being turned off, the subsequent change in the production outlook would prove tempting for potential buyers. Venezuela is another market that has come under the threat of sanctions following recent domestic unrest, while suspicions remain that Saudi Arabia will maintain its underlying commitment towards tightening the available supply of Oil to achieve stronger valuations to help the Kingdom achieve its fiscal targets.
Do not underestimate risk Trump speaking against Oil rally will have on future outlook
Another factor that needs to be taken into account when factoring in potential risks that can swing the hammer of the Oil price in either direction is President Trump.
The President of the United States has made it perfectly clear on numerous occasions that his desire is for Oil prices to return to lower levels for a prolonged period. He has already commented via social media feeds that the Oil price is too high and while he might not be President of a nation that is either a traditional member of OPEC nor OPEC+, he carries the ability to influence world financial markets. When it comes to President Trump’s influence on financial markets it is never an occasion that investors can prepare for when it will happen, but Trump has proven in office that he has a tendency of getting his way in the end, and I would personally not want to be on the wrong side of the trade when the President of the United States is demanding for lower Oil valuations.
What does this all mean for the Nigerian economy?
Although Nigeria remains on a quest to diversify away from Oil reliance, a handsome chunk of the nation’s export earnings is from Oil sales. While rising Oil prices will boost government revenues, provide foreign exchange stability and support economic growth, it leaves the country vulnerable to external shocks. With robust production from US Shale stimulating oversupply concerns and fears around slowing global growth potentially impacting demand, Oil’s upside seems limited. If Oil prices end up depreciating back below $60 in Q2, this will not only impact growth prospects but also Nigeria’s efforts to support its 2019 budget. The ramifications of such a development will most likely complicate the Central Bank of Nigeria’s efforts to cut rates further in an effort to boost economic growth. However, further signs of Nigeria breaking away from Oil reliance to other sustainable sources of growth such as agriculture have the potential to limit shocks created from Oil volatility.
WTI knocking on the door at $60, but is anyone home?
Focusing on the technical picture, WTI Crude has reached tough resistance on the monthly charts with $60 acting as a barrier for bulls preventing prices by being pushed higher. The $60 level ironically also reflects the 50% Fibonacci retracement level of the October – December 2018 downtrend, which helps explain why we are noticing a trend of selling pressure jumping back in the market close to $60.
Until Oil is able to secure a decisive monthly close above $60, it looks like a ceiling is in place for Oil bulls and selling rallies below this level is going to remain as a tempting strategy for bearish investors. A weekly close below $56 will act as a signal for further downside with $52, $50 and $47.80 acting as key points of interest.
If prices are able to conquer $60, Oil has scope to challenge $65.
General News
T2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament

T2 has reaffirmed its commitment to youth development and excellence through sport as the NCBC basketball team, adopted by the brand, emerged champions of the Bosun Tijani Foundation Youth Basketball Tournament held at the Alake Sports Complex, Ijeja, Abeokuta.

The tournament, organised by the Bosun Tijani Foundation in collaboration with the Ogun State Government and supported by several partners including T2, brought together 12 competitive teams from across Nigeria, positioning basketball as a powerful platform for youth engagement, discipline, and opportunity.
NCBC’s championship run reflected the values T2 seeks to champion, work ethic, intelligence, teamwork, and resilience. The team recorded commanding victories over Team Vision, Warlords, and Elevate before defeating the Ilupjeu Raiders 66–52 in a gripping final.
Commenting on the adoption of the team, Seni Ogunkola, Vice President, Brands and Communication, T2 stated “NCBC embodies the qualities we believe in, exceptional work rate, intelligence on the ball, discipline, and a hunger to excel. By supporting them, T2 is investing in potential, purpose, and the next generation of leaders on and off the court.”
The climax of the event saw His Royal Highness, Oba Adedotun Gbadebo, the Alake of Egbaland, alongside Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, present the trophy to the victorious team, drawing rapturous applause from spectators. The event was also attended by the Chief of Staff to Ogun State Governor Dapo Abiodun, Mr. Lere Olayinka, and the Ogun State Commissioner for Sports, Honourable Wasiu Isiaka, underscoring strong institutional support for youth-focused initiatives.
Through its participation in the tournament, T2 continues to position itself as a brand that goes beyond sponsorship, championing platforms that unlock talent, inspire ambition, and create lasting social impact for Nigerian youth.
General News
Ecobank Guarantees Seamless Digital Banking Services Throughout the Christmas and Year-End Period

Ecobank Nigeria, a member of Africa’s leading pan-African banking group, has assured customers of uninterrupted access to banking services throughout the year-end holiday period via its secure and robust digital platforms. The Bank also urged customers to remain vigilant against fraud and scams during the festive season.

Ecobank Bank
Speaking on the development, Victor Yalokwu, Head, Products & Analytics, Consumer & Commercial Banking, Ecobank Nigeria, said the Bank’s digital channels – including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, RapidTransfer, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point (Agent Banking) locations nationwide – will remain fully available to support customers throughout the yuletide and year-end holiday period.
He noted that customers will continue to enjoy a wide range of services during the period, including local and international funds transfers, bill payments and airtime top-ups, merchant payments, balance inquiries and account statements, as well as cardless cash withdrawals via ATMs.
According to Yalokwu, “Ecobank encourages customers to leverage these digital solutions for safe, fast, and efficient banking, especially during the festive season when convenience and reliability are essential.
“While physical branch operations may be subject to adjusted working hours in line with public holidays, customers can be assured that Ecobank’s digital platforms are designed to deliver uninterrupted service and enhanced security at all times.
“Ecobank remains committed to providing innovative financial solutions and exceptional customer service, and we wish all our customers a joyful festive season and a prosperous New Year.”
Yalokwu also cautioned customers to remain vigilant against fraudsters and scammers during the period. “Before you wrap up the year, tighten your security. December brings online sales, travel, and year-end distractions—this is exactly when scammers are most active. From fake festive deals to cloned merchant sites and suspicious messages, staying vigilant helps keep your money safe.”
He advised customers to shop only on trusted websites, never share their PINs, passwords, or one-time passwords (OTPs), avoid banking on public Wi-Fi networks, be cautious of urgent or emotionally charged messages, and regularly review their account activity.
General News
Woherem Proposes Pragmatic Roadmap to End Terrorism and Banditry in Nigeria

Dr. Evans Woherem, an award-winning African technology researcher, analyst, and writer, has proposed a comprehensive and implementable strategy to end terrorism, banditry, and criminal violence in Nigeria, warning that the country’s prolonged insecurity has reached a critical point that demands urgent, coordinated action.

Titled “A Comprehensive Strategy for Ending Terrorism, Banditry, and Criminal Violence in Nigeria: A Pragmatic, Multi-Layered, and Implementable Framework,” the paper presents a holistic roadmap designed to reverse more than a decade of escalating violence that has claimed thousands of lives, displaced communities, weakened local economies, and eroded public trust in governance.
According to him, insecurity has become deeply entrenched in everyday life across the country. “Terrorism, banditry, and criminal violence have become so commonplace that they now dominate daily conversations among Nigerians,” Dr. Woherem noted, adding that while the crisis is most acute in the North-East, North-West, and North-Central regions, “its effects are now being felt even in the southern parts of the country.”
Citing the 2025 Global Terrorism Index, which ranks Nigeria sixth globally in terms of terrorism impact, Dr. Woherem described the ranking as “a sobering statistical confirmation that terrorism still weighs heavily on the Nigerian state.”
The paper traces the roots of the crisis to the emergence of Boko Haram in 2009 and the subsequent rise of splinter groups such as ISWAP. It recalls high-profile incidents including the 2014 abduction of schoolgirls in Chibok, the Dapchi and Kankara kidnappings, and a series of mass abductions and attacks on schools and places of worship recorded in 2025.
Dr. Woherem observed that banditry, largely driven by ransom payments, “has spread across the entire nation, creating fear, weakening productivity, and pushing millions of households deeper into poverty.”
While acknowledging the role of military action, the author cautioned against relying on force alone. “Nigeria cannot defeat insurgency and violent crime through arms and ammunition alone,” he said. “Any sustainable solution must confront the internal conditions that allow insecurity to thrive.”
Among the key drivers identified in the paper by Dr. Woherem, are porous borders, arms proliferation, youth unemployment, economic stagnation, and persistent conflicts over land and resources, challenges Dr. Woherem stressed can be addressed through “a deliberate, intelligence-led, and whole-of-society approach.”
At the heart of the proposed framework, Woherem noted, is a call for intelligence-driven security operations, including the establishment of a National Counter-Insurgency and Intelligence Fusion Centre. “Security operations must be guided by accurate, actionable intelligence rather than fear-led mass actions that often harm civilians and undermine public trust,” he stated.
The paper also advocates comprehensive policing reforms, including the creation of constitutionally backed state police systems supported by a more specialized federal police structure. “Nigeria’s over-centralised policing model is structurally incapable of effectively addressing widespread criminality across such a vast and diverse country.”
Recognising the realities at the grassroots, Woherem calls for the formal regulation of community-based security groups, and noted that “ignoring vigilante groups is dangerous, and banning them outright is unrealistic,” but stressed that their roles must be clearly defined, regulated, and subject to strict oversight.
On border security, particularly in the Lake Chad Basin, the author warned that instability in neighbouring countries continues to fuel Nigeria’s insecurity. “No permanent solution is possible without deep regional cooperation,” he said, advocating an Integrated Border Management system supported by joint operations with neighbouring states.
The paper places strong emphasis on prevention through economic inclusion, youth employment, and skills development. “Jobs and income remain the most powerful tools for preventing recruitment into violent groups,” Dr. Woherem asserted, adding that immediate livelihood opportunities significantly weaken the appeal of extremist narratives.
He also called for structured deradicalisation and reintegration programmes, noting that “a humane, community-accepted process is essential for breaking cycles of violence and preventing relapse into extremism.”
Dr. Woherem further emphasised the need for governance reforms and accountability in the security sector. “Without transparency, oversight, and institutional integrity, even the best security strategies will fail,” he warned.
The white paper outlines a phased implementation plan from 2025 to 2030, beginning with intelligence fusion, pilot state police initiatives, community security registration, drone surveillance, and financial crackdowns on terror networks, before expanding into nationwide reforms and long-term consolidation.
Concluding, Dr. Woherem expressed cautious optimism about Nigeria’s future. “Nigeria can overcome this prolonged phase of insecurity,” he said, “but only through political will, coordinated institutions, and the active participation of society.”
He added that the proposed framework offers “a realistic pathway to restoring security, rebuilding public trust, and unlocking Nigeria’s vast human and economic potential.”
News3 days agoHow Moniepoint’s Founders, Tosin Eniolorunda and Felix Ike are Redefining African Tech and Finance
Telecom2 days agoGoogle Finally Allows Users to Change Gmail Address, Keeps Data and Services Intact
General News1 day agoT2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament
News1 day agoInsomniaQ Spotlights African Creativity in Lagos
E-Financial12 hours agoNigeria’s N58.18trn Budget and Rising Cost of Deficit Governance
Telecom12 hours agoNnaemeka Ani – The Architect of ‘Code and Courage’
Telecom12 hours agoMTN Nigeria Appreciates Partners, Customers at Lagos Prestige Experience












