Business
Tariff uncertainties to keep gold prices in India between Rs 87-90K range in H1-2025: Report
New Delhi [India], March 29 (ANI): US tariff uncertainties are likely to push gold prices to Rs 87,000- Rs 90,000 in the first half of the calendar year 2025 (January- June), according to a report by ICICI Bank Global Markets.
Currently, the gold prices are at around Rs 83,410 per 10 grams for 22-carat and Rs 90,990 per 10 grams for 24-carat, publicly available data showed.
The report added that the uncertainties arising due to the tariffs will ensure the investment-related demand for gold is in place.
Beginning on April 2, the Trump administration intends to implement reciprocal tariffs on trading partners as part of the “Fair and Reciprocal Plan”.
In India, the local gold prices rose by 4 per cent in the past month, reflecting the global market trend and an appreciation of 2 per cent in rupee terms against the US dollar.
“Going forward, local gold prices are expected to trade with an upside bias in the INR 87,000 per ten grams to Rs 90,000 per ten grams range in 1H2025 and moving to the Rs 94,000 per ten grams to the Rs 96,000 per ten grams range in 2H2025,” the report added.
The report anticipated that the gold prices in the global markets will be in the range of USD 3200 per ounce to USD 3400 per ounce level by December 2025.
Additionally, the US Federal Reserve‘s potential decision to lower interest rates in 2025 and 2026 could make gold more attractive, as lower US yields may support gold demand, the report added.
Central banks may also continue to diversify their reserves by holding more gold, which could keep prices steady for the long term, as per the report.
“Elevated levels of gold prices appear to be weighing on jewellery demand, which worked to pull gold imports to their lowest level in the past 11 months, at USD 2.3bn, reflecting a 14 per cent MoM decline and a 63 per cent YoY decline. Demand should pick up, responding to the festive related seasonal demand that tends to take place,” the report added.
However, gold fund flows into local ETFs still remain fairly robust, as the World Gold Council (WGC) has reported. Gold ETFs recorded inflows to the tune of Rs 19.8bn in February 2025 that were above the average net inflow of Rs 14.8bn recorded in the preceding nine months.
Business
Egbu Community That Powers South East Battles Months Of Darkness
Egbu community in Owerri North Local Government Area of Imo State has endured months of crippling electricity outages, even as it hosts a Transmission Company of Nigeria (TCN) facility supplying and distributing power to the entire South-East.
Residents describe the situation as cruelly ironic: while electricity flows from their town to cities across five states, Egbu itself receives barely two hours of power daily.
The blackout has intensified amid a standoff between the Imo State government and the Enugu Electricity Distribution Company (EEDC) over the proposed Orashi Electricity Distribution Company.
Governor Hope Uzodimma announced at the recent Imo Economic Summit that Orashi Electricity Distribution Company would commence operations in December, promising improved supply and stability across the state.

Before this announcement, the Imo State government accused EEDC of deliberately shutting down power in retaliation for the creation of the new distribution company. Commissioner for Information and Strategy, Declan Emelumba, insisted the state’s intervention aims solely to improve electricity delivery and protect residents.
EEDC, through its Head of Communications, Emeka Eze, denied the claim, asserting the company has no intention to disrupt supply. It also noted that agents of the state government had previously interfered with its Egbu transmission facility, disrupting operations.
Caught in the crossfire, Egbu remains the worst affected, with prolonged blackouts crippling businesses and daily life. Residents say the 11KV Egbu feeder, which supplies electricity locally, has been in poor condition for years, severely limiting power availability.
Augustine Njoku, a youth leader in Mpana area, said, “That 11KV feeder has been bad for years. EEDC refuses to fix it, and that is why we are in darkness.”
Small businesses are struggling. Uche Onwuka, who runs a football viewing centre at Ishiuzor village, said unreliable power has driven away customers. “I spend everything on petrol; there’s no profit left,” he lamented.
Restaurant owner, Ms Augusta Igwe added, “Running my generator eats up all my profit. How could two hours of electricity supply improve my business. This is unacceptable. I can no longer cope.”
Am Electronics trader, Gibson Amuneke said he was forced to close his shop: “There is no business without electricity.. This is very insensitive. When you go to other parts of the State, there is reasonable power supply but here in Egbu, which hosts the Transmission. station, we hardly get supply”
Residents also complain of high estimated electricity bills despite scant supply, describing it as unfair for a community that hosts a major national power installation.
Efforts to reach EEDC officials about the 11KV feeder and residents’ claims went unanswered. With Orashi Electricity Distribution Company set to begin operations in December and the EEDC-Imo standoff unresolved, Egbu residents remain trapped in darkness, questioning how a community that powers the South-East can be left in such neglect.
Business
Boris Johnson Says He Feels “Perfectly Safe” in Nigeria, Praises Imo State’s Progress
Former British Prime Minister Boris Johnson has expressed confidence in Nigeria’s security, saying he feels perfectly safe during his visit to the country. His remarks come amid ongoing reports of insecurity in various parts of Nigeria, making his statement a notable endorsement of the nation’s stability in certain regions.
Johnson made the declaration on Thursday, December 4, 2025, while addressing participants at the Imo State Economic Summit 2025 in Owerri, the state capital. He acknowledged having read travel advisories and news reports highlighting security concerns prior to his trip but said his experience has been reassuring.
He said he feels perfectly safe in the country and emphasized that the summit environment and local hospitality contributed to his sense of security. He also asked the audience if they felt safe, receiving an enthusiastic affirmation.
During his visit, Johnson commended Governor Hope Uzodimma and the Imo State Government for their development initiatives, particularly efforts to provide 24-hour electricity. He highlighted the potential of Nigeria as a hub for innovation and economic growth, noting the opportunities presented by emerging technologies such as artificial intelligence.
While his statements have been welcomed by some as a boost to international confidence in Nigeria, analysts caution that the former prime minister’s experience reflects only a controlled and secure environment within Imo State. Several parts of the country continue to face challenges, including banditry, communal conflicts, and kidnappings.
Nonetheless, Johnson’s visit and remarks are significant, sending a positive message to investors and global observers about Nigeria’s potential for stability and progress. They also underscore the contrast between localized experiences of safety and broader security challenges across the country.
Business
Dangote to Uzodimma: Just show me where to invest
By Emmanuel Iheaka, OWERRI
The President of Dangote Group, Aliko Dangote has assured Governor Hope Uzodimma of Imo State that his group will be one of the biggest investors in the state.
Dangote gave the assurance at the opening session of the Imo Economic Summit 2025 in Owerri on Thursday.
The renowned Africa’s industrialist urged Uzodimma to indicate his preferred area of investment and forget the rest.
Dangote described the Imo governor as a personal friend of decades and commended him for providing enabling environment for investment.
“We will be one of your biggest investors in Imo. So, please tell me the area to invest and we will invest”, Dangote declared.
He called on entrepreneurs to always invest at home, adding that foreigners cannot drive the economy of any nation more than the nationals.
“What attracts foreign investors is a domestic investor. Africa has about 30 percent of the world’s minerals. We are blessed,” he submitted.
Dangote reiterated that his refinery was set to launch 1.4 million barrels per day capacity, the highest for any single refinery in the world.
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