General News
Oil: Will a sturdier floor make for a higher bounce?

By Han Tan, Market Analyst at FXTM,
In the third quarter, WTI crude is set to form a solid base to launch another attempt at the $65/bbl mark, providing the global demand outlook doesn’t deteriorate any further.
The downside for Oil appears to have been mitigated around the mid-$50/bbl range by the recent announcement of revived US-China trade talks, staving off the risk of an immediate deterioration in ties between the world’s two largest economies. Although the existing tariffs remain in place, the prospects of further levies being imposed has dwindled, at least for the time being. That ensures that the growth of global demand, while slowing, isn’t completely snuffed out.
Supply-side risks to remain manageable in Q3
On the supply side, the OPEC+ decision to maintain supply cuts at current levels until March 2020 should also set a stronger platform for Oil’s Q3 performance. Concerns about excess supplies flooding the market have been assuaged by a reported 163 percent compliance rate by OPEC+ members in May. With a goal in place to remove some 1.2 million barrels from global supplies in 2019, the tightened-for-longer Oil taps should ensure supply-side risks are managed.
Unexpected flare-up in geopolitical tensions could trigger fear-induced Oil spike
Simmering geopolitical tensions have also contributed to Oil’s rise as the current quarter begins. US sanctions on major producers have affected not just the physical delivery of crude, but also market sentiment. Oil market participants remain focused on US President Donald Trump’s Twitter activities, given his fervor for shaking up the global order while pre-empting his foreign policy moves with unexpected tweets. With market sentiment still fragile, any whiff of an escalation in geopolitical tensions could trigger a fear-induced spike in Oil prices.
Oil markets to remain cautiously optimistic in Q3
Still, investors might be remiss in believing that things are only looking up in the second half of the year. Developments surrounding US-China trade talks remain fluid, and recent history has shown that events can turn on a dime. Should negotiations between the world’s two largest economies hit yet another wall, the floor could give way beneath Oil. Also keep in mind that the existing tariffs already imposed by the US and China remain in place and have already dragged global growth lower. Additionally, should President Trump open up another front in US-led trade tensions, that will further darken the demand outlook for Oil.
US shale output could throw spanner into the works
Then there’s the surge in US shale output, which has been an unrelenting tide that threatens to drown attempts by OPEC+ to rebalance the markets. US supply has been on a record-chasing spree, having notched a new high for monthly output in April when it exceeded 12 million bpd, according to the US Energy Information Administration. Although the number of active rigs has dwindled as producers stateside appear to be shifting priorities towards profitability rather than output growth, their actions may not be enough to stop total US output from hitting 14 million bpd in 2020.
WTI crude expected to nudge higher in Q3
Such supply and demand risks could dampen the enthusiasm within the Oil markets for higher highs. Instead of leaping into the air, traders may just take measured moves in nudging prices higher. The key consideration for Oil in Q3 is how much resistance prices will face on the way up.
At the time of writing, WTI crude is trading below its 50- and 200-day moving averages. A break above those levels could be met with stiffer resistance at $61.92/bbl, while Oil’s immediate support line can be drawn at $52.28/bbl
General News
NiDCOM Launches Diaspora Startup Challenge to Boost Nigerian Talent

The Nigerians in Diaspora Commission (NiDCOM) has sought to harness the innovation and expertise of Nigerians across the globe with the launch of the Connected Diaspora x DOWA Start-Up Challenge and the Connected Diaspora Flagship Event 2025.

Speaking at a news conference in Lagos, Abike Dabiri-Erewa, Chairman/CEO of NiDCOM, described the initiatives as timely and transformative, noting that they are strategically designed to tap into the creativity, enterprise and professional strength of Nigerians in the diaspora.
She said the Start-Up Challenge, themed “Building, Breaking and Believing in Nigeria,” aims to energise innovators abroad by promoting knowledge transfer, enterprise development and strategic investment to support Nigeria’s rapidly expanding economy.
According to a statement by NiDCOM, the challenge, which offers cash prizes of up to ₦1 million, is targeted at spotlighting exceptional ideas and supporting impactful ventures created by Nigerians living overseas.
According to Dabiri-Erewa, the initiative aligns with the Federal Government’s overarching goal of engaging the diaspora community as key partners in national progress.
She further announced that the Connected Diaspora Flagship Event will take place on December 19, 2025, in Lagos, and will bring together entrepreneurs, policymakers, investors, technology leaders and strategic partners for critical discussions on Nigeria’s future.
Kadiri Hamzat, Deputy Governor of Lagos State, will serve as the Special Guest of Honour and is expected to speak on the importance of collaboration between government and the diaspora in accelerating development.
NiDCOM also revealed that notable contributors from the global diaspora community and Nigeria’s entrepreneurship ecosystem will enrich the sessions and help shape new pathways for meaningful engagement.
Dabiri-Erewa said their support remains invaluable in driving the success of the initiative. She emphasized that their continued collaboration helps unlock the potential of Nigeria’s global talent pool and fosters sustainable economic growth.
The Commission called on stakeholders across both the public and private sectors to support the initiative, stressing that the opportunities for innovation, collaboration and nation-building are immense.
NiDCOM urged young Nigerians and diaspora returnees to participate actively in the Start-Up Challenge, reminding them that entries close on December 12, 2025.
The December event will also feature a Diaspora Talent Career and Internship Fair, aimed at connecting diaspora returnees with internship opportunities offered by DOWA partner organisations.
NiDCOM said the fair will further strengthen talent exchange and deepen the country’s development capacity.
The programme timeline includes the opening of applications for the Start-Up Challenge from November 18 to December 12, followed by public voting on Instagram from December 13 to 17.
The winner will be announced on December 18, ahead of the final presentation at the JK Randle Centre in Lagos on December 19.
NiDCOM encouraged interested participants to follow the provided registration details and take advantage of the platform created to connect, innovate and contribute to national advancement.
General News
PromoPrint Rekindles Nigerian Resilience @ 25th Anniversary

Indigenous printing company, PromoPrint Ventures Ltd, celebrated 25 years of operations in the country on Tuesday 2nd December, at an event held at the Lagos Motor Boat Club in Lagos.

The evening saw business executives, clients and stakeholders in the printing space gathered to attest to the dexterity and Nigerian resilience demonstrated by Mrs. Patricia Ojora, the Founder and Chief Executive of the company in sustaining the growth of PromoPrint over the last 25 years.
Amongst many things on display that evening were PromoPrints very first t-shirt printed in the year 2000. Guests also cheerfully adorned custom-made patterns done by Promoprint on our indigenous cotton fabric (Funtau).
In her opening remarks, Mrs. Patricia Ojora recalled the past 25 years of operation in Nigeria at the helm of PromoPrint. While not easy, she says:
“We’ve been able to do it and we enjoy it. There’s nothing better than creation. To create something from nothing and do it so well, it’s a passion for me. It’s something that I really, value. I’m a great supporter of Nigeria, so I believe that we should be able to do things well in Nigeria. We don’t need to always import, that’s why we’re doing this today, to be able to collaborate with people. Most of the people here are people we’ve collaborated with and have worked hard to build Nigeria back up”.
She recounts how she was able to change the narrative of many Nigerians that were printing outside of the country who are now printing with PromoPrint Ventures. “People used to print outside the country because they didn’t trust the quality that was here in Nigeria,” Patricia explains with an understanding that “we can produce good quality here within Nigeria.”
The company is a one-stop shop for all things printing with all operations happening in-house, from the expertise of crafting graphics and garment production to the t-shirts, roller banners, corporate gifts and more being rolled out on a daily basis. “What we are selling is peace of mind in a chaotic place.” Patricia says, with nearly three decades of successful operations and collaboration under her belt.
Significantly, she makes sure the company remains primed for the future, using AI and the like to remain progressive in strategy and implementation. Patricia proudly states, “Our automated printing carousel can churn out 10,000 tees a day if needed and our many corporate clients can attest to this.”
In attendance was Atedo Peterside (CON), Founder, Stanbic IBTC Bank Plc, one of many guests in the room who spoke to PromoPrints impact. “There’s something about longevity,” he shares with the crowd, “If you’ve kept the business going for 10 years, I always tell people, it means you’re doing something right. If you get it going for 20 years, you’re doing something very correct. Patricia must be doing something phenomenally right and it’s my sincere hope that she keeps it going, keep building, keep innovating.”
“Patricia can create almost everything,” Peterside remarks, “she has the courage, audacity and the commitment.”
Mrs. Ibukun Awosika, Nigerian businesswoman and the first female Chairperson of First Bank of Nigeria, contextualises the tenacity of Patricia’s efforts rather well. She reminds the room that “when you think of how many big multinationals who have so much that protects them, who have a lot of support systems internationally and locally, who gave up on Nigerian manufacturing, then you have to go back and think about those of us like Patricia.”
Even after 25 years, Nigeria remains in need of more Entrepreneurs, particularly those like Patricia, to boost the SME and manufacturing industry in the country despite the odds. “She didn’t give up,” Awosika says in admiration.
“What is key is that, when we celebrate the likes of Patricia and her company, we know without a doubt that it’s not just because they want to have a celebration. It’s because, in truth, the Nigerian entrepreneur is a star, and even more so, the Nigerian manufacturer.” Awosika concludes.
So, we celebrate Mrs. Ojora and her PPV entire team, and all that has gone into 25 years of hard work, commitment, creativity, we also recognise the passion that does not allow you to give up on the vision, the commitment to not only creating jobs for other Nigerians but creating value within Nigeria. The commitment to innovating a solution for every challenge and every situation. Indeed, it was a worthy celebration.
General News
Optimus AI LABS CEO Showcases AI Breakthroughs in Nigeria’s Financial Sector

Mr. Lanre Basamta, Chief Executive Officer and Co-Founder of Optimus AI LABS, has unveiled a suite of artificial intelligence innovations poised to transform Nigeria’s financial services industry, aligning with recent Central Bank of Nigeria (CBN) directives on consumer protection and fraud prevention.

Optimus AI LABS
Basamta, speaking at a media parley in Lagos, said the company’s flagship product, Omnis, is redefining customer engagement in banking by serving as a virtual assistant embedded within mobile applications.
According to him, the platform is capable of analyzing customer behavior to recommend tailored financial products, effectively functioning as a “digital salesperson” that boosts bank revenues while enhancing customer experience.
He noted that Optimus AI LABS, which began as a modest startup targeting small businesses such as schools, has now identified greater opportunities in serving banks, fintechs, and microfinance institutions.
“The financial sector presents the biggest opportunity for AI to deliver value at scale,” Basamta said.
In response to rising fraud concerns and new CBN regulations mandating resolution of fraud cases within 14 days, Basamta highlighted the company’s AI-powered support platform designed to address customer frustrations over delayed assistance.
The system, he explained, interacts naturally with users, resolves issues promptly, and escalates unresolved cases, thereby strengthening compliance and improving customer satisfaction.
Basamta also recounted the firm’s global expansion, citing its work with Canadian clients, including the development of a dental learning environment for a major dental group.
He said this international footprint demonstrates Nigeria’s capacity to compete globally through homegrown innovation.
Reflecting on the company’s relocation into office space formerly occupied by KUDA, a fast-rising Nigerian fintech, Basamta expressed optimism that Optimus AI LABS is on a similar trajectory toward scaling into a major industry player.
He emphasized that the company’s growth would contribute not only to technological advancement but also to national development.
Basamta concluded by appreciating partners and stakeholders, stressing that “big things can emerge from small beginnings when powered by AI’s transformative capabilities.”
General News3 days agoManufacturers Block More Ransomware, But Data Theft Surges – Sophos Report
Telecom3 days agoMTN Nigeria Launches Y’ello Data Gifting Campaign as Digital Connectivity Shapes Festive Celebrations
News3 days agoPAPSS Cowry to Benefit Manufacturers, SMEs
E-Financial3 days agoCBN’s New Cash Policy: A Welcome Liberalisation or a Risky Retreat?
E-Financial3 days agoAccess Bank’s Digital Innovation Earns Top Financial Inclusion Award
Telecom3 days agoAfrica Must Build Its Own Cybersecurity Intelligence, Says Tizel CEO At AfriTech 5.0
Telecom3 days agoMTN Partners with SMEDAN to Drive Digital Growth and Job Creation Nationwide
News3 days agoAfrilearn Expands Drive to Make Quality Education Attainable for African Children
















