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Nigerians Urged to Create Multiple Streams of Income

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  • Nigerians Urged to Create Multiple Streams of Income

The Managing Director, Flobal Trust Limited and author of ‘Multiple Bold Steps,’ Mr Abayomi Adeyeri has advised Nigerians to be entrepreneurial and seek ways to create multiple streams of income.

This is to enable them to create sustainable wealth and attain good living standards.

He said Nigerians must learn to optimise their incomes and cultivate good attitudes so as to succeed in life.

He pointed out that Flobal Trust Limited, an investment advisory company licenced by the Securities and Exchange Commission (SEC), was aimed at building a world-class investment institution with sustainable growth and to expand the worth of its customers by providing innovative investment advisory services.

A former senior management member of Ecobank Nigeria, Adeyeri, said with its real estate and investment company subsidiary called Flobal Capital LLC in the United States of America, Flobal Trust’s mission is to provide effective platform and enabling environment that will facilitate and ensure convenient and accessible services and opportunities to its customers.

Speaking against the background of the introduction of his book, Adeyeri said Nigerian youths, especially those not employed and salaried workers should learn how to create multiple streams of income without necessarily compromising any good values, adding that civil servants in Nigeria should step up their customer service skills and imbibe ownership spirit.

According to him, his desire to see others succeed in life and the urge to pass a strong message that anyone can make it irrespective of colour, gender and challenges of life motivated him to put his experience and knowledge as a senior wealth creation expert into a book.

“I intend to speak to our youths never to quit and not to be discouraged. The power to create lies in every youth. They are to activate same and turn their desires into reality.

“The various tools required for activation of creation power are enumerated in this book. Also, every employee should know that they are limited in wealth creation. The true wealth creators are entrepreneurs,” Adeyeri said.

He said the book takes people through the art of taking multiple bold steps and serve as a confident booster noting that in order for anybody to take bold steps, such a person must be courageous and have a strong positive attitude.

“The thrust of the book is to plan well and put strategies that will ensure success in life in place in the various cycles of life discussed in this book. This is my first book and I intend to write more. It is currently available on Amazon, Barnes and Noble and Multiple Bold Steps website and most online bookstores with delivery period of between two days to one week depending on your location in the world. However, we plan to partner with any reputable publisher in Nigeria to publish the Nigeria version of this book soon,” Adeyeri said.

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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Crude Oil

Brent Crude Oil Approaches $70 Per Barrel on Friday

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Nigerian Oil Approaches $70 Per Barrel Following OPEC+ Production Cuts Extension

Brent crude oil, against which Nigerian oil is priced, rose to $69 on Friday at 3:55 pm Nigerian time.

Oil price jumped after OPEC and allies, known as OPEC plus, agreed to role-over crude oil production cuts to further reduce global oil supplies and artificially sustain oil price in a move experts said could stoke inflationary pressure.

Brent crude oil rose from $63.86 per barrel on Wednesday to $69 per barrel on Friday as energy investors became more optimistic about the oil outlook.

While certain experts are worried that U.S crude oil production will eventually hurt OPEC strategy once the economy fully opens, few experts are saying production in the world’s largest economy won’t hit pre-pandemic highs.

According to Vicki Hollub, the CEO of Occidental, U.S oil production may not return to pre-pandemic levels given a shift in corporates’ value.

“I do believe that most companies have committed to value growth, rather than production growth,” she said during a CNBC Evolve conversation with Brian Sullivan. “And so I do believe that that’s going to be part of the reason that oil production in the United States does not get back to 13 million barrels a day.”

Hollub believes corporate organisations will focus on optimizing present operations and facilities, rather than seeking growth at all costs. She, however, noted that oil prices rebounded faster than expected, largely due to China, India and United States’ growing consumption.

The recovery looks more V-shaped than we had originally thought it would be,” she said. Occidental previous projection had oil production recovering to pre-pandemic levels by the middle of 2022. The CEO Now believes demand will return by the end of this year or the first few months of 2022.

I do believe we’re headed for a much healthier supply and demand environment” she said.

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Crude Oil

Oil Jumps to $67.70 as OPEC+ Extends Production Cuts

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Oil Jumps to $67.70 as OPEC+ Extends Production Cuts

Brent crude oil, against which Nigerian oil is priced, rose to $67.70 per barrel on Thursday following the decision of OPEC and allies, known as OPEC+, to extend production cuts.

OPEC and allies are presently debating whether to restore as much as 1.5 million barrels per day of crude oil in April, according to people with the knowledge of the meeting.

Experts have said OPEC+ continuous production cuts could increase global inflationary pressure with the rising price of could oil. However, Saudi Energy Minister Prince Abdulaziz bin Salman said “I don’t think it will overheat.”

Last year “we suffered alone, we as OPEC+” and now “it’s about being vigilant and being careful,” he said.

Saudi minister added that the additional 1 million barrel-a-day voluntary production cut the kingdom introduced in February was now open-ended. Meaning, OPEC+ will be withholding 7 million barrels a day or 7 percent of global demand from the market– even as fuel consumption recovers in many nations.

Experts have started predicting $75 a barrel by April.

“We expect oil prices to rise toward $70 to $75 a barrel during April,” said Ann-Louise Hittle, vice president of macro oils at consultant Wood Mackenzie Ltd. “The risk is these higher prices will dampen the tentative global recovery. But the Saudi energy minister is adamant OPEC+ must watch for concrete signs of a demand rise before he moves on production.”

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Gold

Gold Hits Eight-Month Low as Global Optimism Grows Amid Rising Demand for Bitcoin

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Gold Struggles Ahead of Economic Recovery as Bitcoin, New Gold, Surges

Global haven asset, gold, declined to the lowest in more than eight months on Tuesday as signs of global economic recovery became glaring with rising bond yields.

The price of the precious metal declined to $1,718 per ounce during London trading on Thursday, down from $2,072 it traded in August as more investors continue to cut down on their holdings of the metal.

The previous metal usually performs poorly with rising yields on other assets like bonds, especially given the fact that gold does not provide streams of interest payments. Investors have been jumping on US bonds ahead of President Joe Biden’s $1.9 trillion coronavirus stimulus package, expected to stoke stronger US price growth.

We see the rising bond yields as a sign of economic optimism, which has also prompted gold investors to sell some of their positions,” said Carsten Menke of Julius Baer.

Another analyst from Commerzbank, Carsten Fritsch, said that “gold’s reputation appears to have been tarnished considerably by the heavy losses of recent weeks, as evidenced by the ongoing outflows from gold ETFs”.

Experts at Investors King believed the growing demand for Bitcoin, now called the new gold, and other cryptocurrencies in recent months by institutional investors is hurting gold attractiveness.

In a recent report, analysts at Citigroup have started projecting mainstream acceptance for the unregulated dominant cryptocurrency, Bitcoin.

The price of Bitcoin has rallied by 60 percent to $52,000 this year alone. While Ethereum has risen by over 660 percent in 2021.

 

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