Wednesday 4th January 2017

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Oil Prices Hit 18-month High as Markets Eye Production Cuts Ejiofor Alike with agency report

Exporting Countries (OPEC) and other exporters to cut production, which kicked in on Sunday, will drain a global supply glut. Global benchmark, Brent crude, jumped more than two per cent to a high of $58.37, up

Crude oil prices yesterday, the first trading day of 2017, hit an 18-month high, buoyed by hopes that a deal between the Organisation of Petroleum

$1.55 a barrel and its highest since July 2015. Earlier in the day, Brent had eased to $58.12, up $1.30. US light crude oil, West Texas Intermediate (WTI), hit an 18-month high of $55.24, up $1.52 a barrel, also its highest

since July 2015, before slipping to around $55.00. Reuters reported that oil futures exchanges were closed on Monday for New Year public holidays. An agreement between OPEC and some non-members

to reduce their output by almost 1.8 million barrels per day (bpd) kicked in on January 1. In November, OPEC reached its first production deal in eight years, vowing to lower output by 1.2 million barrels

a day to boost prices. Crude oil rallied after the announcement and finished the year up by 45 per cent, its biggest annual gain since 2009. Continued on page 6

FG to Spend N270bn on Bridge Repairs in Three Years…

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Wednesday 4 January, 2017 Vol 21. No 7930. Price: N250

www.thisdaylive.com TR

TODAY'S WEATHER

ABUJA 16°C-33°C

MAIDUGURI 15°C-35°C

UT H

& RE A S O

ENUGU 22°C-34°C

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KANO 11°C-33°C

LAGOS 23C-31°C

PORT HARCOURT 20°C-30°C

Senate to Investigate Southern Kaduna Killings, Army to Set up Unit in Area Dambazau cautions religious leaders against statements capable of heightening crisis Mimiko condemns carnage Dele Ogbodo, Paul Obi in Abuja and James Sowole in Akure Senate President Bukola Saraki, has said that the senate would commence an investigation into the latest killings in southern Kaduna. Saraki made the announcement

in a statement signed by his aide responsible for new media, Mr. Bamikole Omishore, in Abuja yesterday, adding that the Senate will on resumption from recess on January10 make the issue a priority. Continued on page 6

Vehicles Stuck as Import Ban Through Land Borders Takes Effect

Customs sets up anti-smuggling units, redeploys senior officers Ndubuisi Francis in Abuja and Eromosele Abiodun in Lagos As the federal government’s ban on the importation of vehicles through the land borders came into effect on January 1, the Association of

Nigerian Customs Licensed Agents (ANCLA) has cried out that several vehicles on their way into the country were stuck at the borders before the deadline elapsed. Continued on page 6

BIGWIGS GIVE THANKS Nigeria to Deploy 800 Soldiers OGUN'S Founder, First City Monument Bank (FCMB) Limited, Chief Subomi Balogun; former Ogun State Governor, Chief Gbenga and Afenifere Leader, Chief Ayo Adebanjo, during a thanksgiving service held by Balogun at his country home in in Darfur for Peacekeeping… Page 9 Daniel; Ijebu-Ode, Ogun State, to usher in the New Year… yesterday


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Wednesday 4th January 2017 by THISDAY Newspapers Ltd - Issuu