Connect with us

Markets

GE Nigeria Unveils e-learning Portal for Entrepreneurs

Published

on

GE
  • GE Nigeria Unveils e-learning Portal for Entrepreneurs

A digital industrial company, GE Nigeria has unveiled an e-learning portal for its Lagos Garage advanced manufacturing training programme.

The firm said it was in line with its commitment to skills development and the empowerment of entrepreneurs in Nigeria.

The platform was unveiled during the GE’s Lagos Garage Week to mark a year-end of activities where the company opened its innovation hub to interested entrepreneurs for curated courses in advanced manufacturing and business development.

Speaking during the exercise, the Director, Communications and Public Affairs, GE Africa, Ms Patricia Obozuwa, said with the introduction of the e-portal, entrepreneurs no longer have to be physically present at the Garage to benefit from the innovative training the hub offers.

According to Obozuwa, Nigeria is the biggest economy in Africa and for this reason, she said it was highly essential to start building critical skills of the next generation of the country’s entrepreneurs.

She said, “Our goal is to empower Nigerian entrepreneurs with the relevant skills required to compete on a global scale. I am happy to say that so far, over 250 people have successfully graduated from the advanced manufacturing programme we offer here.

“This platform will make the training on offer at our hub reach a much wider audience than ever before, thus increasing the number of beneficiaries and making it more impactful. Our goal has always been to reach the maximum number of Nigeria entrepreneurs in a short period, delivering valuable training that they would otherwise not have access to.”

She further stated that the Lagos Garage, which came on board in 2016, had become a centre for advanced manufacturing-based innovation, strategy development, idea generation and collaboration having trained a number of entrepreneurs in the use of the latest in advanced manufacturing technologies such as 3D printers, CNC mills, laser cutters as well as business development.

Members of the Lagos State Technical and Vocational Education Board witnessed the unveiling ceremony and they lauded GE for the empowerment project.

Speaking as the Special Guest of Honour at the event, the state Commissioner for Science and Technology, Hakeem Fahm, who was represented by the Permanent Secretary, Mr Kayode Ogunnubi, commended GE for being a collaborative partner of the Lagos State Government for several years.

He congratulated the company on the launch of the Garage e-learning portal saying, “Lagos State is at the forefront of ICT development in Nigeria and training programmes like the GE Garage that equips youths with innovative skills is one of the ways we believe we can develop the economy of the state and by extension, the entire country.”

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.

Crude Oil

Brent Crude Oil Approaches $70 Per Barrel on Friday

Published

on

Crude oil

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.

Continue Reading

Crude Oil

Oil Jumps to $67.70 as OPEC+ Extends Production Cuts

Published

on

opec

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.”

Continue Reading

Gold

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

Published

on

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.

 

Continue Reading

Trending