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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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Oil Prices News: Oil Gains Following Drops in US Crude Inventories

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Oil Prices Gain Following Drops in US Crude Inventories and OPEC High Compliance Level

Global oil prices extended their 2 percent gains on Thursday after data showed U.S crude oil inventories declined last week.

The price of Brent crude oil, against which Nigerian oil is measured, gained 0.2 percent or 7 cents to $43.39 a barrel as at 12:10 pm Nigerian time. While the U.S. West Texas Intermediate (WTI) crude appreciated by 8 cent or 0.2 percent to $41.12 barrels.

Oil prices extended their three days gain after the American Petroleum Institute said the U.S crude inventories declined by 5.4 million barrels in the week ended October 9.

The report released after the market closed on Wednesday revealed that distillate stockpiles, which include diesel and heating oil, declined by 3.9 million barrels. Those stated drawdowns almost double analysts’ projections for the week.

Much of the fall is due to the effects of Hurricane Delta shuttering U.S. production in the Gulf of Mexico, and as such, will be a transitory effect,” said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA.

“Therefore, I am not getting too excited that a turn of direction is upon markets, although both contracts are approaching important technical resistance regions.”

Also, the report that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, referred to as OPEC+ attained 102 percent compliance level with their oil production cuts agreements bolstered global oil outlook. Suggesting that demands for the commodity are likely not growing and could drag down prices in few weeks, especially when one factor in the reopening of Libya’s Sharara oil field, workers returning to operation in Norway and the Gulf of Mexico.

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Oil Prices Gain on Tuesday Despite Expected Surge in Global Oil Supplies

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Oil Prices Rise Despite Expected Surge in Global Oil Supplies

Oil prices gained on Tuesday despite Libya opening Sharara oil field for production, labour in Norway reaching an agreement with oil firms to return back to work and oil workers in the U.S returning to the Gulf of Mexico region after the Hurrican Delta.

Brent crude oil, against which Nigerian oil price is measured, gained 1.77 percent to $42.46 per barrel as at 11:15 am Nigerian time on Tuesday.

While the US West Texas Intermediate (WTI) crude oil gained 2 percent to close at $40.22 per barrel.

The improvement in prices was after oil prices plunged as much as 3 percent on Monday following a resolution reached by Libyan rebels and government to commence oil production at the nation’s largest oil field, Sharara Oil Field.

This coupled with labour agreement with oil firms in Norway was expected to boost global oil supplies and eventually weighed on prices and disrupt OPEC+ production cuts strategy.

However, prices surged after Nancy Pelosi said she would commence talks on $1.8 trillion stimulus package following President Trump’s return to the White House after he was rushed to hospital following a positive COVID-19 test.

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Joe Biden Win Could Boost Oil Prices, Says Goldman Sachs

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Oil Prices to Surge Once Joe Biden Wins -Goldman Sachs

Goldman Sachs, one of the world’s largest investment banks, has said Joe Biden win could boost global oil prices despite weak global economic outlook and COVID-19 negative impacts on the world’s growth.

The investment bank, however, remains bullish on both oil and gas prices regardless of the election outcome in November.

The bank sees oil and gas demand rising enough in 2021 to supersede election results but explained that Biden win could bolster prices by making production more expensive and more regulated for producers in the U.S.

In a note written by the bank’s commodities team on Sunday, it said “We do not expect the upcoming U.S. elections to derail our bullish forecasts for oil and gas prices, with a Blue Wave likely to be in fact a positive catalyst.”

“Headwinds to U.S. oil and gas production would rise further under a Joe Biden administration, even if the candidate has struck a centrist tone.”

Goldman Sachs explained that if incumbent, Trump, is re-elected with pro-oil and gas policies in place that “its impact would likely remain modest at best,” Goldman’s analysts wrote, “given the more powerful shift in investor focus to incorporate ESG metrics and the associated corporate capex re-allocation away from fossil fuels.”

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