General News
Oil prices shaky ahead of OPEC + meetings

By Lukman Otunuga, Senior Research Analyst at FXTM,
A sense of uncertainty over whether Russia will commit to OPEC’s proposal for deeper production cuts is weighing on Oil prices this morning.
OPEC ministers agreed that Oil production should be cut by 1.5 million barrels per day (bbl/d), with OPEC members cutting one million bbl/d and non-OPEC allies, led by Russia, cutting half a million bbl/d. However, Russia has yet to make a decision, which could make things very interesting when crunch talks with non-OPEC members kick-off later today.
If negotiations run smoothly and conclude with both sides committing to deeper cuts, this could support Oil prices in the short term. However, the medium to longer term outlook will remain heavily influenced by coronavirus fears and the negative impacts it will have on fuel demand.
Another theme throwing a proverbial wrench in the works for OPEC is US Shale. Oil production in the United States has reached a record high of 13.1 million bbl/d as of last week, which is nearly half of the 27.8 million bbl/d produced by OPEC members last month.
The combination of stuttering demand and rising Shale production will most likely spell more trouble for Oil which has weakened over 25% since the start of 2020.
Markets continues to be gripped by Coronavirus fears
Explosive levels of market volatility are becoming the new normal, as conflicting themes force the sentiment pendulum to swing between extremes.
This phenomenon has been witnessed throughout the trading week, as coronavirus fears clashed constantly with hopes for new global monetary and fiscal measures. Risk aversion made an unwelcome return on Friday, as Asian shares fell deep into the red, tracking steep losses from Wall Street overnight. Disruptions to global businesses from the coronavirus outbreak are becoming more apparent, and this is fuelling fears of a virus-driven global economic slowdown. The negative mood is likely to hit European markets as investors avoid riskier assets in favour of safe-haven instruments like the Japanese Yen and Gold.
Will February’s US jobs report rescue the Dollar?
The Greenback is struggling to nurse deep wounds inflicted by the Federal Reserve’s emergency 50 basis point rate cut on Tuesday.
Mounting expectations over the world’s most powerful central bank cutting interest rates again at its March 17-18 meeting has added insult to injury, and this continues to be reflected in the Dollar’s poor performance this week. Friday’s potential market shaker will be the monthly US jobs report for February, which should offer crucial insights into the health of the US labour market and whether the coronavirus is having an impact. The US economy is projected to have created 175k jobs in February with average earnings up by 0.3%, while the unemployment rate is expected to remain unchanged at 3.6%.
Given how the CME’s FedWatch tool currently shows a 100% probability of a US interest rate cut at the meeting later this month, a question on the mind of many investors is whether a blockbuster jobs report will sway the Fed from pulling the trigger.
Focusing on the technical picture, the Dollar Index is under pressure on the daily charts, with a breakdown below 96.50 opening the door to 95.90.
Gold bulls are back in town
Gold has gained over 5% this week thanks to coronavirus fears, speculation around central bank easing, global growth concerns and a weakening Dollar.
The general uncertainty and current risk aversion should support the precious metal due to its safe-haven nature. Going forward, with the Dollar set to weaken on Fed rate cut bets, prices could re-test $1700 if $1681 is breached.
General News
PalmPay Strengthens Data Protection Culture with Employee Privacy Workshop and Privacy Champions Programme

PalmPay has reinforced its commitment to responsible data governance and customer information protection through a specialised two-day data protection workshop for employees and the launch of its internal Privacy Champions Programme, an initiative designed to strengthen awareness, accountability, and responsible data handling across the organisation.

The initiative comes at a time when data protection is increasingly critical following recent reports of recorded 281,500 compromised user accounts in the first quarter of 2026, ranking 34th among the world’s most breached countries, according to a new quarterly data breach analysis by cybersecurity firm, Surfshark.
Facilitated by the Nigeria Data Protection Commission (NDPC) and leading Data Protection Compliance Organisation (DPCO) TechHive Advisory, the two-day workshop equipped employees with practical knowledge on privacy governance and data protection obligations, incident awareness, and the role each employee plays in protecting personal data.
The initiative forms part of PalmPay’s ongoing efforts to advance compliance with the Nigeria Data Protection Act (NDPA) 2023. It also reflects the company’s continued investment in safeguarding customer information and fostering a culture where privacy remains everyone’s responsibility.
The Privacy Champions Programme establishes a network of employee representatives across business functions who will support awareness, promote best practices and help strengthen the organisation’s privacy culture. By integrating privacy considerations into day-to–day activities the initiative aims to further enhance accountability and reinforces customer trust.
Speaking on the initiative, Managing Director of PalmPay, Chika Nwosu, stated: “At PalmPay, protecting customer information is fundamental to maintaining the trust our customers place in us everyday, and remains central to our operations. Statistically, 10 out of 100 Nigerians have been affected by data breaches.
Hence, we have a greater responsibility to ensure that personal information is collected, processed, stored, and protected responsibly. This specialised training reflects our continued investment in strengthening internal awareness and ensuring our teams remain equipped to uphold the highest standards of data privacy and protection.”
As a digital financial services platform serving millions of users, PalmPay reaffirmed that privacy and data protection remain embedded in its operational culture, with continuous investments in data governance practices.
PalmPay also encourages customers to remain vigilant and adopt safe digital practices, including protecting account credentials, exercising caution when sharing personal information online, and reporting suspicious activities promptly. The company maintains that building a secure digital ecosystem requires a shared commitment from organisations, regulators, and users alike.
General News
Tinubu appoints Adigwe to head National Health Technology, Data Analytics Office

President Bola Tinubu has appointed Dr Obi Adigwe as the National Coordinator of the newly established National Health Technology and Data Analytics Office (NHTDAO).

President Bola Tinubu
The appointment was announced in a statement issued on Friday.
The office, which will be domiciled in the Office of the Coordinating Minister of Health and Social Welfare, is expected to serve as the national coordination platform for Nigeria’s digital health system.
According to the statement, the NHTDAO will complement the work of existing health institutions by promoting coordination and interoperability across public and private healthcare systems, rather than replacing existing agencies.
It said the office would also drive the implementation of the National Digital Health Architecture approved by the National Council on Health in November 2025.
The statement said the initiative formed part of the Federal Government’s efforts to strengthen a secure, technology-driven and data-enabled healthcare system capable of improving service delivery nationwide.
Adigwe, who currently serves as the Director-General of the National Institute for Pharmaceutical Research and Development (NIPRD), has led several initiatives in science, pharmaceutical research, technology transfer and artificial intelligence.
He also coordinated major research funding initiatives, including a ¥300 million nanotechnology grant and an €18 million European Union research grant, while supporting the establishment of Africa’s first Active Pharmaceutical Ingredient (API) training facility through support from Afreximbank.
The statement said the new office would be guided by a steering committee co-chaired by the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, and the Chairman of the Nigerian Economic Summit Group, Mr Olaniyi Yusuf.
Other members of the committee include the Minister of State for Health, Dr Iziaq Adekunle Salako; senior officials of the Federal Ministry of Health and Social Welfare; representatives of the National Information Technology Development Agency (NITDA); and heads of key health agencies, including the National Primary Health Care Development Agency (NPHCDA) and the National Health Insurance Authority (NHIA).
The committee will also include representatives of state commissioners for health from the six geopolitical zones, as well as industry and community stakeholders.
The Federal Government expressed optimism that the office would strengthen coordination across the health sector, accelerate digital transformation and improve healthcare delivery in line with the Renewed Hope Agenda.
General News
The Gathering on 100 Awards N5m to Young Entrepreneurs in Enugu

The Gathering on 100 made its latest stop in Enugu over the weekend, bringing together hundreds of young Nigerians for a day of networking, fun, entertainment, and business opportunities.

The event, previously held in Lagos and Aba, arrived in Enugu as the city gains recognition as one of Nigeria’s emerging innovation and startup hubs. Recent ecosystem reports rank Enugu among the country’s leading startup cities. The South-East region now accounts for more than half of identified startups across the South-East and South-South, highlighting the region’s growing role in Nigeria’s entrepreneurial landscape.
A major highlight of the Enugu edition was the Pitch-a-thon competition, where three entrepreneurs received a combined ₦5 million in grants to support their business growth. More than 100 entrepreneurs applied for the competition, with 10 finalists selected to pitch before a panel of judges. At the end of the contest, Velas Global Nutrition Limited emerged as the overall winner, securing ₦2.5 million. Werxio, founded by Donatus Prince, received ₦1.5 million, while Whipcare Company was awarded ₦1 million.
These grants address a persistent funding challenge. According to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the country is home to over 39 million MSMEs, contributing nearly half of Nigeria’s Gross Domestic Product and accounting for about 84 per cent of employment nationwide. Despite this, access to finance remains a significant obstacle to business growth.
For Chizoba Osuji, founder of Velas Global Nutrition Limited, the funding facilitates the expansion of a business built on years of research. Her company processes indigenous crops into shelf-stable blends, supporting nutrition and local women smallholder farmers. “This is motivation to keep making Nigerians healthier through better food,” she remarked, noting the grant will fund semi-automated equipment to increase production capacity to 20 tonnes monthly.
She added that the ₦2.5 million grant would be used to acquire semi-automated equipment capable of increasing production capacity to about 20 tonnes monthly. Beyond increasing output, the expansion is expected to create additional opportunities for women smallholder farmers across the South-East who supply many of the raw materials used by the company.
Speaking on the initiative, MTN’s Regional General Manager (Sales), Callima Inino, represented by Peter Kajovo, said The Gathering on 100 was designed to provide young Nigerians with platforms to connect, learn, showcase their talents and access opportunities that can help them grow.“We want to encourage youths to live their best lives and have fuller expressions of themselves,” he said.
As the Enugu edition concludes, the energy of the South-East’s startup scene remains evident. The Gathering on 100 continues its nationwide tour, connecting more young founders with the visibility and support they need. Stay tuned to discover where the tour will land next as it moves to its next exciting location.
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