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Ford Aims to Make a Difference by Promoting Safe Driving in Nigeria

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As a committed and responsible corporate citizen in Nigeria, Ford is making a significant contribution to promoting safe driving with the introduction of its global Ford Driving Skills for Life (DSFL) programme next month in Nigeria. This is in line with Ford’s decision to roll out this successful international programme to more countries in Sub-Saharan Africa.

This successful driver training programme was launched in South Africa in 2014 and it was introduced into Angola last year.

Ford launched DSFL in the United States in 2003 and the system has been improved and adapted to suit local conditions in many global markets over the years.

DSFL is a free, advanced driving skills programme for newly-licensed drivers as well as a means of improving the defensive driving ability of experienced drivers. It is funded by the not-for-profit Ford Motor Company Fund as an effective method of improving driving skills globally and so contributing to road safety.

The half-day DSFL training starts with a one hour theoretical session followed by practical training where the trainee is accompanied by a professional driver trainer in cars provided by Ford. The practical exercise includes a pre-trip inspection, experiencing braking distances from 60km/h and 120km/h as well as staggered following distances. Then there is an ABS braking exercise, a reaction test and finally a slalom activity to evaluate car control.

The Nigerian Auto Journalists’ Association (NAJA), the umbrella body for all journalists in Nigeria covering the automobile and automotive industry, is already setting a good example by insisting that its members undergo annual training, and Ford’s DSFL will form part of this programme.

“This year the Nigerian Auto Journalists’ Association is undertaking a program to re-invigorate our members through a number of relevant training courses to improve their skills and knowledge levels,” explained Mike Ochonma, the vice president of the NAJA and a member of the NAJA event organising committee.

“We are very pleased that we have been able to partner with Ford so that we can include the Driving Skills for Life training into our overall program. This driver training is very important for our members as it is at the core of their profession. It is also supportive of the government’s initiatives to improved road safety in our country and to cut the death toll on our roads.”

This positive move by the motoring journalists has already been highly praised by the Nigerian Automobile Manufacturers’ Association (NAMA).

The first DSFL training session in Nigeria will take place at the Lekki premises of Coscharis Motors on July 30.

The issue of improving road safety has been in the news lately in Nigeria, so the timing for the launch of Ford’s DSFL initiative is excellent.

Only recently the Corps Marshal of the Federal Road Safety Corps (FRSC), Boboye Oyeyemi, appealed to Nigerian motorists to abide by traffic rules and regulations to ensure the success of the Corps’ campaign against road carnage in the country. He added that road safety is a shared responsibility in which all road users must be active participants.

Oyeyemi went on to say that his organisation is committed to meeting its 2016 goals of reducing road traffic accidents in Nigeria by 15 percent and reducing fatalities by 20 percent. He added that globally road accidents account for the deaths of 1.24-million people a year and they are the major cause of death among young people aged between 15-29 years.

“In addition, 91% of the world’s fatalities on roads occur in low- and middle-income countries even though these countries have only half the world’s vehicles driving on their roads,” Oyeyemi commented.

“The timing for the introduction of Driving Skills for Life by Ford in Nigeria comes at the right time with so much government focus on road safety,” commented Eugene Herbert, the CEO of MasterDrive, and organisation which facilitates Ford’s DSFL programme in many parts of the world. “My team is looking forward to introducing young Nigerians to the many benefits that flow from undergoing a Ford DSFL course.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Communities in Delta State Shut OML30 Operates by Heritage Energy Operational Services Ltd

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The OML30 operated by Heritage Energy Operational Services Limited in Delta State has been shut down by the host communities for failing to meet its obligations to the 112 host communities.

The host communities, led by its Management Committee/President Generals, had accused the company of gross indifference and failure in its obligations to the host communities despite several meetings and calls to ensure a peaceful resolution.

The station with a production capacity of 80,000 barrels per day and eight flow stations operates within the Ughelli area of Delta State.

The host communities specifically accused HEOSL of failure to pay the GMOU fund for the last two years despite mediation by the Delta State Government on May 18, 2020.

Also, the host communities accused HEOSL of ‘total stoppage of scholarship award and payment to host communities since 2016’.

The Chairman, Dr Harrison Oboghor and Secretary, Mr Ibuje Joseph that led the OML30 host communities explained to journalists on Monday that the host communities had resolved not to backpedal until all their demands were met.

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Crude Oil Recovers from 4 Percent Decline as Joe Biden Wins

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Oil Prices Recover from 4 Percent Decline as Joe Biden Wins

Crude oil prices rose with other financial markets on Monday following a 4 percent decline on Friday.

This was after Joe Biden, the former Vice-President and now the President-elect won the race to the White House.

Global benchmark oil, Brent crude oil, gained $1.06 or 2.7 percent to $40.51 per barrel on Monday while the U.S West Texas Intermediate crude oil gained $1.07 or 2.9 percent to $38.21 per barrel.

On Friday, Brent crude oil declined by 4 percent as global uncertainty surged amid unclear US election and a series of negative comments from President Trump. However, on Saturday when it became clear that Joe Biden has won, global financial markets rebounded in anticipation of additional stimulus given Biden’s position on economic growth and recovery.

Trading this morning has a risk-on flavor, reflecting increasing confidence that Joe Biden will occupy the White House, but the Republican Party will retain control of the Senate,” Michael McCarthy, chief market strategist at CMC Markets in Sydney.

“The outcome is ideal from a market point of view. Neither party controls the Congress, so both trade wars and higher taxes are largely off the agenda.”

The president-elect and his team are now working on mitigating the risk of COVID-19, grow the world’s largest economy by protecting small businesses and the middle class that is the backbone of the American economy.

There will be some repercussions further down the road,” said OCBC’s economist Howie Lee, raising the possibility of lockdowns in the United States under Biden.

“Either you’re crimping energy demand or consumption behavior.”

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Nigeria, Other OPEC Members Oil Revenue to Hit 18 Year Low in 2020

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Revenue of OPEC Members to Drop to 18 Year Low in 2020

The United States Energy Information Administration (EIA) has predicted that the oil revenue of members of the Organisation of the Petroleum Exporting Countries (OPEC) will decline to 18-year low in 2020.

EIA said their combined oil export revenue will plunge to its lowest level since 2002. It proceeded to put a value to the projection by saying members of the oil cartel would earn around $323 billion in net oil export in 2020.

If realised, this forecast revenue would be the lowest in 18 years. Lower crude oil prices and lower export volumes drive this expected decrease in export revenues,” it said.

The oil expert based its projection on weak global oil demand and low oil prices because of COVID-19.

It said this coupled with production cuts by OPEC members in recent months will impact net revenue of the cartel in 2020.

It said, “OPEC earned an estimated $595bn in net oil export revenues in 2019, less than half of the estimated record high of $1.2tn, which was earned in 2012.

“Continued declines in revenue in 2020 could be detrimental to member countries’ fiscal budgets, which rely heavily on revenues from oil sales to import goods, fund social programmes, and support public services.”

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