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Naira finds comfort in Dollar weakness

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By  Lukman Otunuga

The Naira was granted some breathing room this week as the Dollar weakened on slowing growth fears in the United States.

While the local currency has scope to end gains amid expectations over the Fed taking a pause on rate hikes this year, the upside is likely to be limited by falling Oil prices. With depressed Oil reducing government revenues and complicating the CBN’s efforts to defend the Naira, the local currency remains in the firing line. If Oil prices continue to weaken during the early parts of 2019, the Naira is at threat of depreciating.

Stock markets resume rollercoaster ride

The final trading week of 2018 has been explosively volatile and wildly unpredictable due to geopolitical risks.

Global sentiment repeatedly swung from extremely bearish to bullish this week as investors tussled with concerns over slowing global growth, US-China trade developments, Brexit-related uncertainty and a partial US government shutdown. Although US stock markets bounced back to life yesterday to end positive and Asian shares traded mostly higher this morning, it is certainly too early for any celebrations. With investor appetite for riskier assets seen diminishing amid the unfavourable market conditions, global equity markets remain vulnerable to downside shocks. The geopolitical risk factors weighing painfully on global sentiment are likely to encourage investors to seek safety in the Japanese Yen and Gold.

Dollar hit by growth concerns and US politics

Buying sentiment towards the Dollar was dealt a sharp blow after a drop in US consumer confidence rekindled fears over a slowdown in economic momentum.

Concern over a partial US government shutdown compounded to the Greenback’s woes with the Dollar Index trading marginally below 96.45 as of writing. With slowing growth fears threatening the Dollar’s safe-haven status, the sentiment pendulum could swing in favour of the bears in 2019. In regards to the technical picture, the Dollar Index is shaky on the daily charts with prices trading below the 96.50 support. Sustained weakness below this level has the potential to open a path towards 96.00 in the near term.

Commodity spotlight – Gold 

It is shaping up to be an incredibly positive trading week for Gold prices thanks to heightened geopolitical risks and Dollar weakness.

Explosively volatile equity markets, global growth fears, Brexit uncertainty and political instability in Washington have accelerated the flight to safety – ultimately sending Gold prices to levels not seen in more than 6 months. With turbulent market conditions guiding investors towards safe-haven assets, Gold is on route to concluding 2018 firmly above the $1,272 resistance level. The yellow metal has the potential to become a major talking point across markets next year, especially when considering how the Dollar is seen weakening on growth concerns and Fed expected to take a pause on rate hikes in 2019. Taking a look at the technical picture, a yearly close above $1,272 is likely to trigger a move higher towards the $1,288 and $1,300 level.

 

 


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General News

NIMASA Embraces Technology to Strengthen Regulatory Mandate

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The Nigerian Maritime Administration and Safety Agency (NIMASA) has announced its commitment to leveraging technology to enhance its regulatory functions, improve efficiency, and boost revenue generation for the Federal Government.

According to a statement by the agency’s Head of Public Relations, Osagie Edward, on Sunday, the move follows a comprehensive internal review of NIMASA’s operational systems aimed at closing gaps in monitoring and compliance.

A key component of the technological transformation is the deployment of the Maritime Enhanced Monitoring System (MEMS), which brings digital traceability to the core of Nigeria’s maritime operations.

“MEMS provides real-time visibility into vessel movements, operational logs, and regulatory interactions,” Osagie explained.

“With automated alerts, smart invoicing, and centralized data integration, NIMASA can now detect, document, and respond to maritime activities with greater precision and efficiency—eliminating unnecessary bottlenecks while strengthening compliance.”

He noted that one of the major targets for improvement is waste reception services—routine for both domestic and international vessels—which have historically lacked proper tracking.

This has resulted in unmonitored activities and substantial revenue losses. Through MEMS, each waste offload can now be logged, time-stamped, and automatically billed, ensuring environmental standards are upheld while generating consistent revenue.

Marine pollution control, another critical area under NIMASA’s mandate, has also suffered in the past from limited digital oversight.

“Without satellite tracking and automated reporting, pollution events often went unnoticed or were reported too late to mitigate environmental damage,” he said.

“Now, with modern surveillance systems, digital logbooks, and real-time alerts, NIMASA can respond swiftly to pollution incidents, recover environmental damages, and hold polluters accountable both legally and financially.”

Osagie further explained that past revenue shortfalls experienced by the agency were largely due to outdated manual processes, fragmented data systems, and inadequate digital enforcement tools—factors that external actors exploited for personal gain.

“The ongoing reforms at NIMASA are designed to overcome these systemic weaknesses. By investing in digital infrastructure and streamlining monitoring systems, the agency is positioning itself to fulfill its statutory obligations with greater transparency, efficiency, and accountability,” he added.

Responding to recent reports claiming the agency had commenced a concession of its operations, Osagie dismissed the allegations as false and misleading.

“There is no iota of truth in the reports suggesting that NIMASA has embarked on any form of concession. These are the handiwork of both internal and external elements attempting to exploit the existing system for personal benefit,” he stated.

“We urge the public to disregard these baseless claims and instead support NIMASA’s transformation journey, which aligns with the national objectives of the Ministry of Marine and Blue Economy under the Renewed Hope Agenda of President Bola Ahmed Tinubu.”

He reaffirmed NIMASA’s commitment to enhancing maritime governance, environmental protection, and revenue optimization for national development.


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Nigerian Tech Prodigy sets World Record with Smallest GPS Tracker

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Young Nigerian tech genius, Oluwatobi Oyinlola, has developed the world’s smallest GPS tracking device, a prototype measuring just 22.93 x 11.92 mm.

Recognised by the Guinness World Records, the device was created at the prestigious Massachusetts Institute of Technology (MIT), USA, on April 27, where he is employed as a researcher.

It has been hailed for its potential across industries, from logistics and personal safety to medical devices and wildlife monitoring.

Nigeria’s President Bola Ahmed Tinubu celebrated the feat in a post on X, praising Oyinlola for showcasing the ingenuity of the West African country’s youth. “You have just shown the world that Nigerian youth can!” he wrote.

Adding to the accolades, Minister of Communications, Innovation and Digital Economy, Bosun Tijani, lauded the innovation as a symbol of national pride and technological potential.

He commended Oyinlola’s journey, noting his early support for the young inventor’s IoT startup. “Long before this global recognition, I had the privilege of backing Oluwatobi. His journey, now continuing at MIT, is a powerful reminder of the extraordinary potential of our people,” Tijani said.

The prototype not only marks a leap in miniaturised technology but also highlights Nigeria’s growing footprint in global innovation. Bosun added that as Nigeria intensifies efforts to nurture homegrown tech talent, Oyinlola’s success is a beacon for the next generation of innovators.

“The world is only beginning to see what you’re capable of,” said the Minister.

 

 


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Africa Looks to Solar Amid Electricity Challenges

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Africa is becoming a global hub for solar energy development. The commercial and industrial sectors are driving this trend, with photovoltaic systems being installed on-site at businesses, educational institutions, and government facilities to meet energy demands.

This is according to CBi-electric: low voltage, which manufactures and supplies low voltage electrical distribution, protection, and control equipment.

2.5 gigawatts-peak (GWp) of solar capacity was built across Africa in 2024, with 194.34 GWp expected in 2025, according to the company.

Dr. Andrew Dickson, engineering executive of CBi-electric: low voltage, outlines how several reasons are hastening the continent’s transition to solar. “Energy poverty remains a major issue across Africa, with reliable grid electricity reaching only 14% of Zimbabweans, for example.”

He goes on to say that inconsistent power supply is another significant contributor, stating that “Persistent nationwide blackouts are affecting countries like Botswana, disrupting day-to-day operations. And in hydro-electric dependent countries such as Zambia, climate change is reducing water levels, leading to lower electricity generation and higher prices.”

Dickson believes that strategic system design and management are critical to realising the full potential of solar energy on the continent.

He said: “As Africa’s solar energy market continues to expand in 2025, organisations have an opportunity to capitalise on its long-term benefits. With the right technologies and safeguards in place, solar is not only a clean energy solution it’s a strategic asset that pays off.

“By combining surge protection, DC breakers, and monitoring tools, businesses can reduce unexpected costs, minimise downtime, and extend the life of their investment.”


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