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In a shocking projection, Goldman Sachs has predicted that by end of this month, there is the likelihood of Oil demand surpassing supply, thereby triggering some measurable likely rebound in the Oil market. Head of Goldman Sachs commodities department, Jeffrey Currie in an exclusive analytical projection published in the current edition of Oilprice, quoting Baron’s…
May 10, 2020
84 Million Nigerian Cargoes Stranded At Sea India, Nigeria's Largest Buyer Slashes Oil Imports Experts Ask Nigeria To Bolster Non-Oil Exports International buyers continue to balk at the country's dominant exports, crude as the United States slashed the importation of Nigerian crude oil by 60.37 per cent to 1.93 million barrels in January 2020. Pre-Covid-19,…
May 9, 2020
By Hamilton Nwosa( Head, The New Diplomat Business and data tracking desk) Two-time former Nigeria’s Finance Minister and erstwhile managing director of the World Bank, Dr Ngozi Okonjo-Iweala has warned that no one will be safe globally until the whole world is safe. According to Okonjo-Iweala who is chair of the Board of Gavi, the…
May 8, 2020
This article was first published in April, 2016 by The New Diplomat, during the previous major decline in oil prices. Then, the author noted that the world had experienced major price spikes in oil prices in 1973, 1979 and 2003-2008 -- the so-called "commodity prices super-cycle" period. There have also been major price declines in…
May 7, 2020
In last decade, the world economy has seen a twin glut in which a commodity glut depressed commodity prices and export values while a liquidity glut boosted equity values and capital flows, creating a new reality in which net capital flows surpassed net trade flows. The global Covid-19 pandemic is poised to further widen this…
May 6, 2020
By Hamilton Nwosa(Head, The New Diplomat's Business and data tracking desk) The New Diplomat is setting the pace in a first part Introductory diagnosis of the Nigerian Economy in a post-covid-19 era. This special digital publication would be preceded by a distinguished panel of economic and policy experts that would engage in a conversation on…
May 4, 2020
By Hamilton Nwosa(Head, The New Diplomat’s business and data tracking desk) Inspired by its encouraging performance in terms of growth, effectiveness and organizational efficiency, the United Bank for Africa Group(UBA) Plc, a frontline Pan African financial institution, has unveiled a profit-before-tax of N32.7 billion in the first three months of 2020. Group Managing Director/CEO of…
April 29, 2020
The oil price crash isn’t getting any easier for Nigeria Late on Monday, the nation released the prices for most of its crude oil grades for sale in May. The figures reflect an urgent need to offload cargoes in what is a highly competitive marketplace. Even so, traders cautioned that the prices $10 a barrel…
April 29, 2020
First Bank: We Mourn As We Shut Down Kano Office By Hamilton Nwosa(Head, The New Diplomat’s Business and data tracking desk) A Regional Manager with First Bank of Nigeria in Kano, Abdullahi Lawal has died of suspected complications arising from COVID -19 infection. Family members revealed that the late banker who suddenly took ill on…
April 25, 2020
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In a shocking projection, Goldman Sachs has predicted that by end of this month, there is the likelihood of Oil demand surpassing supply, thereby triggering some measurable likely rebound in the Oil market. Head of Goldman Sachs commodities department, Jeffrey Currie in an exclusive analytical projection published in the current edition of Oilprice, quoting Baron’s…
May 10, 2020
84 Million Nigerian Cargoes Stranded At Sea India, Nigeria's Largest Buyer Slashes Oil Imports Experts Ask Nigeria To Bolster Non-Oil Exports International buyers continue to balk at the country's dominant exports, crude as the United States slashed the importation of Nigerian crude oil by 60.37 per cent to 1.93 million barrels in January 2020. Pre-Covid-19,…
May 9, 2020
By Hamilton Nwosa( Head, The New Diplomat Business and data tracking desk) Two-time former Nigeria’s Finance Minister and erstwhile managing director of the World Bank, Dr Ngozi Okonjo-Iweala has warned that no one will be safe globally until the whole world is safe. According to Okonjo-Iweala who is chair of the Board of Gavi, the…
May 8, 2020
This article was first published in April, 2016 by The New Diplomat, during the previous major decline in oil prices. Then, the author noted that the world had experienced major price spikes in oil prices in 1973, 1979 and 2003-2008 -- the so-called "commodity prices super-cycle" period. There have also been major price declines in…
May 7, 2020
In last decade, the world economy has seen a twin glut in which a commodity glut depressed commodity prices and export values while a liquidity glut boosted equity values and capital flows, creating a new reality in which net capital flows surpassed net trade flows. The global Covid-19 pandemic is poised to further widen this…
May 6, 2020
By Hamilton Nwosa(Head, The New Diplomat's Business and data tracking desk) The New Diplomat is setting the pace in a first part Introductory diagnosis of the Nigerian Economy in a post-covid-19 era. This special digital publication would be preceded by a distinguished panel of economic and policy experts that would engage in a conversation on…
May 4, 2020
By Hamilton Nwosa(Head, The New Diplomat’s business and data tracking desk) Inspired by its encouraging performance in terms of growth, effectiveness and organizational efficiency, the United Bank for Africa Group(UBA) Plc, a frontline Pan African financial institution, has unveiled a profit-before-tax of N32.7 billion in the first three months of 2020. Group Managing Director/CEO of…
April 29, 2020
The oil price crash isn’t getting any easier for Nigeria Late on Monday, the nation released the prices for most of its crude oil grades for sale in May. The figures reflect an urgent need to offload cargoes in what is a highly competitive marketplace. Even so, traders cautioned that the prices $10 a barrel…
April 29, 2020
First Bank: We Mourn As We Shut Down Kano Office By Hamilton Nwosa(Head, The New Diplomat’s Business and data tracking desk) A Regional Manager with First Bank of Nigeria in Kano, Abdullahi Lawal has died of suspected complications arising from COVID -19 infection. Family members revealed that the late banker who suddenly took ill on…
April 25, 2020
