General News
US-China trade tensions may weigh on Naira; Bitcoin nears $9000

By Lukman Otunuga, FXTM Research Analyst,
There is no doubt that persistent trade tensions between the United States and China have left a mark on emerging market currencies.
The rising risk aversion created from ongoing trade uncertainty developments has negatively impacted appetite for riskier assets and this continues to be reflected across financial markets. With trade disputes also fuelling concerns over slowing global growth consequently pressuring oil prices, this is bad news for the Naira and Nigerian economy. Should a US-China trade war result in oil prices collapsing, Nigeria’s economic recovery and exchange rate stability may be threatened. For Nigeria to shield itself against external risks and oil price volatility, there needs to be a stronger push on diversification away from oil reliance to other sustainable sources of economic growth.
Bitcoin explodes higher as bulls shift into higher gear
Bitcoin is positioned to remain a major talking point across financial markets this week after jumping as much as 10% yesterday to almost $9000.
With no industry news or reports behind the abrupt upside, the primary factor behind Bitcoin’s aggressive appreciation is likely based around price action. The technical picture suggests that the cryptocurrency remains heavily supported by the bullish ‘golden cross’ formation on the daily charts. This occurs when the 50-day simple moving average crosses above the 200-day moving average. With prices slowly approaching $9000, the path of least resistance certainly points north. A solid daily close above $9000 has the potential to open a clean path towards $10,000.
Pound lost in Brexit drama and political chaos
The past few days have certainly not been kind for the British Pound which remains one of the weakest G10 currencies.
Theresa May’s resignation is likely to add to the uncertainty over Brexit and what to expect in the coming months. With fears of a no-deal Brexit mounting by the day amid the drama, the British Pound remains fundamentally bearish. Technical traders will continue to watch how prices behave around 1.2620. A solid daily close below this point will signal a selloff towards 1.2500 in the short to medium term.
EURUSD hovers around 1.1200
The Euro remains on standby below 1.1200 as investors digest the results of the European Parliament elections. With concerns over Italy’s budget denting appetite for the Euro, the EURUSD is positioned to trend lower.
Taking a look at the technical standpoint, the EURUSD remains bearish on the weekly charts as there have been consistently lower lows and lower highs. Sustained weakness below 1.1200 is likely to open a path towards 1.1100 and 1.1000, respectively.
Commodity spotlight – Gold
Gold struggled for direction today with prices hovering around $1283 as sizzling US-China trade tensions and Brexit uncertainty sent investors rushing towards the Dollar. Although the precious metal got off to a slow start this week, bulls remain in control above $1280. Should this level prove to be reliable support, the next key point of interest for Gold may be found around the $1300 psychological level.
General News
Uzodimma Commends NASENI as Agency Commissions Skills Acquisition Centre in Imo

Gov. Hope Uzodimma of Imo has commended the National Agency for Science and Engineering Infrastructure (NASENI) for expanding access to technology-driven skills with the inauguration of a Skills Acquisition Centre in Owerri.

L-R: Chairman, Senate Committee on NASENI, Senator Ezenwa Onyewuchi; First Lady of Imo State, Barr. Chioma Uzodimma; Governor of Imo State, Senator Hope Uzodimma; EVC/CEO of NASENI, Mr. Khalil Suleiman Halilu and other dignitaries during the commissioning of the NASENI Skills Acquisition Centre in Owerri North LGA, Imo State yesterday.
The governor described the initiative as a strategic investment in youth empowerment, entrepreneurship and economic development.
The centre, established under the NASENI Sustainable Empowerment Programme (NSEP) in partnership with the Senator representing Imo East Senatorial District, Sen. Ezenwa Onyewuchi, is designed to equip young Nigerians with practical and industry-relevant skills.
Speaking at the inauguration, Uzodimma said technology remained central to Nigeria’s economic growth and lauded NASENI for supporting President Bola Tinubu’s Renewed Hope Agenda through initiatives that empower citizens.
He said the project would provide young people with practical skills needed to build sustainable livelihoods.
“This is not about giving people fish; it is about teaching them how to fish,” the governor said.
Uzodimma urged that beneficiaries of the programme be supported with start-up capital to enable them establish businesses and create employment opportunities for others.
He also commended NASENI for its continued developmental interventions in Imo and called on the host community and relevant stakeholders to protect the facility.
Responding, the Executive Vice Chairman and Chief Executive Officer of NASENI, Mr Khalil Suleiman Halilu, described the centre as another demonstration of the agency’s commitment to developing the human capital required to drive Nigeria’s industrialisation.
According to Halilu, the centre reflects NASENI’s conviction that industrial development begins with investing in people and equipping them with practical skills.
“The commissioning of this centre is not merely the opening of another facility. It is the opening of opportunities for young Nigerians to acquire practical skills that solve real problems, create businesses and generate employment.
“At NASENI, we believe our greatest investment is in the talent of our people,” he said.
Halilu said the centre would offer training in high-demand areas, including solar installation and maintenance, graphic design and printing, phone repair, fisheries and aquaculture, as well as other vocational and technology-based disciplines.
He explained that the project aligned with NASENI’s strategic focus on creation, collaboration and commercialisation, aimed at strengthening innovation, expanding local capacity and reducing dependence on imported technologies.
The NASENI boss commended Onyewuchi for partnering with the agency to deliver the project.
Onyewuchi said the centre was established to address youth unemployment through skills acquisition and entrepreneurship.
He disclosed that beneficiaries would receive support to establish small businesses after completing their training, enabling them to become employers of labour.
The lawmaker said the initiative would contribute to economic growth by empowering young Nigerians with skills relevant to today’s economy.
The commissioning of the centre, according to NASENI, reinforces the agency’s commitment to equipping Nigerians with practical skills, fostering innovation and building the workforce required for Nigeria’s industrial and economic development.
General News
FG Launches C.L.I.C.K.D., Consumer Credit Scheme for Tech Devices

Federal government has launched Credit for Laptops, Internet, Connectivity and Knowledge Digital Devices (C.L.I.C.K.D.), a new consumer credit initiative, to provide affordable financing for locally assembled laptops and other digital devices.

L-R: Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, and Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, at the launch
The initiative by the Nigerian Consumer Credit Corporation (CREDICORP) and the Federal Ministry of Communications, Innovation and Digital Economy, is aimed at equipping Nigerians with the tools needed to participate in the country’s growing digital economy.
During the launch, Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, described access to credit as critical to improving productivity and driving economic growth.
Dr Tijani said no nation could achieve sustainable development without a strong credit system that enables individuals and businesses to access resources needed to become more productive.
He noted that in today’s digital age, technology has become indispensable for education, innovation and wealth creation.
The minister explained that many talented young Nigerians possess the skills required to succeed in the digital economy but remain constrained by their inability to own computers and other digital tools.
Drawing from his personal experience, Dr Tijani recalled how his first laptop as a student in the university opened doors to international opportunities and eventually inspired him to establish one of Nigeria’s pioneering technology hubs.
He said the new programme would ensure that more young Nigerians are not denied similar opportunities because of financial barriers.
According to him, the initiative aligns with President Bola Tinubu’s vision of building a one-trillion-dollar economy by expanding access to technology, boosting productivity and supporting local manufacturing.
Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, described the programme as a strategic investment in Nigeria’s future workforce and digital transformation.
Mr Nwagba said that while improvements in internet connectivity and digital skills training have positioned Nigeria for the Fourth Industrial Revolution, access to devices remains a major challenge preventing many young people from fully participating in the digital economy.
He explained that C.L.I.C.K.D. would bridge that gap by providing affordable consumer credit that enables beneficiaries to acquire laptops and other internet-enabled devices while they develop in-demand digital skills
General News
FG Clears Power Sector Debt as N333bn Paid to GenCos, N729bn Bond Issued

Federal Government has announced the disbursement of about N333 billion to eight electricity generation companies (GenCos) as part of measures to resolve outstanding debts in the power sector.

The government also disclosed the issuance of a second bond valued at N729 billion to settle verified legacy obligations and improve liquidity within the Nigerian Electricity Supply Industry (NESI).
The disclosures were made on Tuesday at an investors’ forum organised by the Nigerian Bulk Electricity Trading (NBET) Plc in Abuja.
Government representatives said the latest bond issuance marked the completion of the initial phase of the Presidential Power Sector Debt Reduction Programme, which was designed to address verified liabilities and attract private sector investment across the electricity value chain.
The Special Adviser to the President on Energy, Mrs Olu Verheijen, said the implementation of the first series of the programme demonstrated the administration’s commitment to meeting its financial obligations and improving investor confidence.
Verheijen disclosed that the Federal Government in February 2026 allocated about N501 billion under the first tranche of the programme, comprising N300 billion in cash and N201 billion in non-cash bond instruments to offset verified debts owed to power producers.
She said N333 billion had so far been disbursed to eight participating GenCos operating 17 power plants.
According to her, the government also paid the first coupon of about N63.5 billion on the seven-year bond in full on July 14, 2026.
She explained that the payments had enabled generation companies to meet critical obligations to gas suppliers, lenders and operations and maintenance contractors, thereby improving their operational capacity.
“Markets do not reward promises; they reward performance. Capital follows credibility,” Verheijen said.
She added that the second bond series would further strengthen liquidity in the electricity market and create a more stable financial environment capable of attracting long-term private investment.
The Presidential Power Sector Debt Reduction Programme is part of broader Federal Government efforts to address challenges affecting electricity generation, distribution and investment in Nigeria’s power sector.
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