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Joshua Knocks Out Klitschko, Remains Undefeated Heavyweight Champ

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Anthony Joshua
  • Joshua Knocks Out Klitschko, Remains Undefeated Heavyweight Champ

British-Nigerian boxer, Anthony Oluwafemi Joshua, knocked out former unified champion Wladimir Klitschko in the eleventh round of saturday’s title fight in London to retain the IBF World Heavyweight belt and also claim the vacant WBA Heavyweight belt.

Joshua produced the performance of his career to stop his Ukrainian counterpart with an enthralling knockout in front of a record 90,000 audience at the Wembley Stadium. It was the culmination of a close contest that saw Joshua dropping Klitschko in the fifth round, before being put down – for the first time in his 19-fight career – in the sixth.

Both men looked in danger of being stopped over two rounds which will live long in the memory, before Joshua delivered the clinical blows in the 11th. The Briton landed a brutal uppercut which gave him the platform to send Klitschko down with an immediate flurry.

Klitschko stood, but was again dropped by a left hook moments later, and then stood again, only for referee David Fields to save the challenger when pinned against the ropes.

Joshua threw his arms into the air as roars rolled down the Wembley tiers. He had come through his stiffest test to date, while Klitschko had answered questions of his own, showing he remains competitive at world level, even at 41.

The Ukrainian known as Dr Steelhammer will regret not finishing the job when he floored Joshua and appeared close to reclaiming two of the titles he lost in his last fight against Tyson Fury in 2015.

“What can I say? 19-0, three and a half years in the game,” said Joshua. “I’m not perfect but I’m trying, and if you don’t take part, you’re going to fail. As boxing states, you leave your ego at the door and you respect your opponent. So a massive shout-out to Wladimir Klitschko.”Analysis – ‘Those punche

In the process of claiming the biggest win of his career, Joshua showed amazing resilience, and this was, by far, his most impressive performance. He took the best punches from Klitschko (64-5), and survived to knock out a future Hall of Famer.

After the fight, Klitschko wouldn’t confirm that he would take a rematch — neither, for that matter, would promoter Eddie Hearn — but he was complimentary of his opponent.

“The best man won tonight, and it’s an amazing event for boxing,” Klitschko told Sky Sports after the fight. It’s really sad I didn’t make it tonight. I was planning to do it. It didn’t work.”

A rematch would be great for Joshua, now that he knows he can beat Klitschko. He also showed he could take massive punches from one of the best heavyweights in history, and even if after falling to the canvas, got up to win.

“It’s boxing. I’m only going to improve,” Joshua told Sky Sports. “Sometimes you can be a phenomenal boxer, but boxing is about character. When you go to the trenches, that’s when you find out who you really are.”

It is not yet clear if the option of a rematchas stipulated in the contract of the fight will be taken. However, lying in wait asfuture opponents are for champion, Tyson Fury and the holder of the WBC heavyweight belt Deontay Wilder.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Crude Oil

Oil Prices Rebound on OPEC+ Output Delay Talks and U.S. Inventory Drop

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Crude oil - Investors King

Oil prices made a modest recovery on Thursday on the expectations that OPEC+ may delay planned production increases and the drop in U.S. crude inventories.

Brent crude oil, against which Nigerian oil is priced, rose by 66 cents, or 0.9% to $73.36 per barrel while U.S. West Texas Intermediate (WTI) crude appreciated by 64 cents or 0.9% to $69.84 per barrel.

The rebound in oil prices was a result of the American Petroleum Institute (API) report that revealed that the U.S. crude oil inventories had fallen by a surprising 7.431 million barrels last week, against analysts 1 million barrel decline projection.

The decline signals better than projected demand for the commodity in the United States of America and offers some relief for traders on global demand.

John Evans, an analyst at PVM Oil Associates, attributed the rebound in crude oil prices to the API report.

He said, “There is a pause of breath and light reprieve for oil prices.”

Also, discussions within the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, are fueling speculation about a potential delay in planned output increases.

The group was initially expected to increase production by 180,000 a day in October 2024.

However, concerns over softening demand in China and potential developments in Libya’s oil production have prompted the group to reconsider its strategy.

Despite the recent rebound, analysts caution that lingering uncertainties around global oil demand may continue to weigh on prices in the near term.

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Energy

Power Generation Surges to 5,313 MW, But Distribution Issues Persist

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power project

Nigeria’s power generation continues to get better under the leadership of President Bola Ahmed Tinubu.

According to the latest statement released by Bolaji Tunji, the media aide to the Minister of Power, Adebayo Adelabu, power generation surged to a three-year high of 5,313 megawatts (MW).

“The national grid on Monday hit a record high of 5,313MW, a record high in the last three years,” the statement disclosed.

Reacting to this, the Minister of Power, Adebayo Adelabu, called on power distribution companies to take more energy to prevent grid collapse as the grid’s frequency drops when power is produced and not picked by the Discos.

He added that efforts would be made to encourage industries to purchase bulk energy.

However, a top official of one of the Discos was quoted as saying that the power companies were finding it difficult to pick the extra energy produced by generation companies because they were not happy with the tariff on other bands apart from Band A.

“As it is now, we are operating at a loss. Yes, they supply more power but this problem could be solved with improved tariff for the other bands and more meter penetration to recover the cost,” the Disco official, who pleaded not to be named due to lack of authorisation to speak on the matter, said.

On Saturday, the ministry said power generation that peaked at 5,170MW was ramped down by 1,400MW due to Discos’ energy rejection.

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Crude Oil

Again NNPC Raises Petrol Price to N897/litre

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Petrol - Investors King

The Nigerian National Petroleum Company (NNPC) Limited has once again increased the price of Premium Motor Spirit (PMS) from N855 per litre on Tuesday to N897 on Wednesday.

The increase was after Aliko Dangote, the Chairman of Dangote Refinery, announced the commencement of petrol production at its refinery.

The continuous increase in pump prices has raised concerns among Nigerians despite the initial excitement from the refinery announcement.

According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the 650,000 barrels per day refinery will supply 25 million litres of petrol to the Nigerian market daily this September.

This, NMDPRA said will increase to 30 million litres per day in October.

However, the promise of increased fuel supply has not yet eased the situation on the ground.

Tunde Ayeni, a commercial bus driver at an NNPC station in Ikoyi, said “I have been in the queue since 6 a.m. waiting for them to start selling, but we just realised that the pump price has been changed to N897. This is terrible, and yet they still haven’t started selling the product.”

The price hike comes as NNPC continues to struggle with sustaining regular fuel supply.

On Sunday, the company warned that its ability to maintain steady distribution across the country was under threat due to financial strain.

NNPC cited rising supply costs as the cause of its difficulties in keeping up with demand.

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