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Lafarge Afric Boosts Operations With 155 Trucks

Lafarge Africa  Boost Operations With 155 Trucks By Adigun Omodele & Akinola Ajibade  Lafarge Africa, a leading innovative and sustainable building solutions company, has reaffirmed its commitment to supporting customer growth  and Operational Excellence by allocating 155 trucks to its drivers. The aim is to encourage its logistics capabilities in the industry. This initiative underscores Lafarge Africa’s dedication to empowering customers and fostering long-term partnerships built on mutual growth and success. Speaking at the event, Lafarge's Commercial Director, Mr Babatunde Onimowo described the initiative as transformative for the company and its customers. Onimowo who was represented by the Firm's Head of Sales Babatunde Odufote said the  scheme is transformative for the organisation and its customers.  “Today marks a transformative moment in Lafarge Africa's unwavering commitment to its  customers' success. These trucks are more than just vehicles...
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$100 + price is back for major haul



oil rigs



By Akinola Ajibade



Oil prices, yesterday recorded $105.8 per barrel in the global market, a development, attributed to the crises in the Middle East region.

This happens as dollar, a currency, which is majorly used in the international market weakened slightly, a situation, which is likely going to  slightly affect oil exporting countries, including Nigeria, that is currently struggling to fix her economy.

Brent oil prices climbed to $105.8 per barrel on Monday, up 4.65% on the day, while West Texas Intermediate (WTI) was trading at just over $102.

Prices rose Monday as traders assessed the Saudi sentiment following U.S. President Joe Biden’s meeting with the Crown Prince on Friday.

On Sunday, Biden’s advisor on international energy affairs, Amos Hochstein, said Washington believed OPEC’s producers in the Middle East–namely Saudi Arabia and the UAE–would take some steps to boost supply to the oil market soon.

However, the overriding sentiment seems to be that the Saudis have no intention of intervening in oil prices at this time. Last week’s sell-off based on notions that Biden’s trip to Saudi Arabia might result in an OPEC decision to increase production is now being reversed.

Monday’s higher oil prices are also being driven by a weakening U.S. dollar thanks to investors who have softened their expectations of a more aggressive approach to interest rates by the Fed next week.

The U.S. dollar index fell 0.464% on Monday.

Biden’s meeting with the Saudi Crown Prince had markets hedging oil lower, despite widespread doubts that anything would be accomplished in terms of increasing OPEC output.

On Monday, Iraq’s oil minister told Bloomberg that oil is likely to continue trading above $100 for the remainder of this year.

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