Okomu Oil H1 Pre-Tax Profit Falls 12% As Weaker Sales, Rising Costs Weigh On Earnings

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July 29, 2026

Okomu Oil Palm Plc reported a 12.03% decline in pre-tax profit for the first half of 2026 as weaker domestic and export sales, higher production costs, and increased operating expenses weighed on profitability, even as the company strengthened its balance sheet with higher cash reserves and a return to a positive working capital position.

According to the company’s unaudited financial statements filed with the Nigerian Exchange (NGX) on Tuesday, pre-tax profit fell to N58.99 billion for the six months ended June 30, 2026, from N67.05 billion in the corresponding period of 2025.

Profit after tax declined even more sharply, dropping 16.42% year-on-year to N39.73 billion, while earnings per share fell to N41.65 from N49.83 a year earlier.

The weaker half-year performance reflects slower revenue growth alongside mounting production and operating costs, squeezing margins despite the company’s continued strong profitability.

Quarterly Performance Weakens

The slowdown became more evident during the second quarter. Pre-tax profit fell to N24.89 billion, representing a 27.00% decline from the derived first-quarter profit of N34.10 billion and a 28.58% drop from N34.85 billion recorded in the second quarter of 2025.

Second-quarter revenue also weakened, falling 7.52% year-on-year to N66.33 billion from N71.72 billion, suggesting softer demand and pricing pressures during the period.

Half-year revenue declined 3.50% to N125.29 billion from N129.83 billion in the same period last year.

Domestic sales remained the company’s largest revenue source, accounting for 90.37% of total turnover. However, local sales declined 3.19% to N113.22 billion, highlighting weaker demand in the domestic market.

Export revenue also fell 6.38% to N12.06 billion, contributing 9.63% of total revenue.

The quarterly breakdown showed a mixed picture.

While local sales declined 11.73% to N58.43 billion during the second quarter, export sales surged 42.98% to N7.90 billion, partially offsetting the weakness in the domestic market.

The improvement in exports suggests stronger international demand or higher shipment volumes toward the end of the reporting period, though it was insufficient to compensate for softer local sales.

Rising Costs Compress Margins

Profitability came under additional pressure from higher production costs. Despite lower revenue, cost of sales increased 3.84% year-on-year to N44.56 billion.

Oil palm production costs rose 1.66% to N37.61 billion, while rubber production costs climbed 17.51% to N6.95 billion, reflecting persistent inflationary pressures and higher operating expenses across the agricultural sector.

As a result, gross profit declined 7.13% to N80.73 billion from N86.93 billion.

Gross profit margin also narrowed to 64.44%, compared with 66.95% in the corresponding period of 2025, indicating that the company generated less profit from each naira of revenue.

Operating expenses added to the earnings pressure.

Net operating expenses increased 12.23% to N20.79 billion, leading operating profit to decline 12.37% to N59.94 billion from N68.40 billion.

Exchange Loss Lifts Finance Costs

Finance costs rose 8.85% to N1.57 billion, largely due to an exchange loss of N1.18 billion.

However, the impact was partly offset by stronger finance income. Interest income from fixed deposits and other cash balances increased significantly, with finance income rising to N622.47 million from N97.87 million in the first half of 2025, reflecting improved returns on the company’s growing cash holdings.

After accounting for finance costs and taxation of N19.26 billion, profit after tax settled at N39.73 billion.

Balance Sheet Strengthens

Despite weaker earnings, Okomu Oil’s financial position improved during the period.

Total assets increased 20.06% to N166.71 billion as of June 30, 2026, from N138.85 billion at the end of December 2025.

Cash and cash equivalents rose 65.34% to N21.40 billion, strengthening the company’s liquidity position.

Inventories nearly doubled to N36.61 billion from N18.32 billion, while trade receivables increased to N7.19 billion.

One of the most notable improvements was in working capital.

The company moved from a net current liability position of N2.49 billion at the end of 2025 to a net current asset position of N19.09 billion by the end of June, reflecting stronger short-term liquidity.

Meanwhile, long-term borrowings declined to N3.91 billion, although lease liabilities remained relatively high at N18.28 billion.

Market Performance

Despite the softer earnings, investors have continued to reward the stock this year.

Shares of Okomu Oil closed at N1,418.00 on Tuesday, July 28, 2026, compared with N1,095.00 at the beginning of the year, representing a 29.5% year-to-date gain.

The share price performance suggests investors remain optimistic about the company’s long-term fundamentals, supported by its strong cash generation, improving liquidity and dominant position in Nigeria’s palm oil industry. The optimism appears to overwhelm near-term profitability, which faces pressure from weaker sales, rising production costs and foreign exchange-related expenses.

Sam Altman Says People Still Want Human Leaders, Argues AI Cannot Replace Accountability

By

Samuel Nwite

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July 29, 2026

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OpenAI Chief Executive Officer Sam Altman says he no longer believes artificial intelligence should replace corporate leaders, noting that people ultimately want humans, not AI systems, to make major decisions and be held accountable for them.

Speaking on the “Invest Like The Best” podcast, published Tuesday, Altman said the role of a chief executive extends beyond making decisions, requiring trust, responsibility and public accountability that AI cannot provide.

“I think for my job, for example, I think the world wants to know about the person that’s going to be responsible for the decisions of a company, and who they’re going to hold accountable if they make bad ones, and they don’t really want an AI CEO,” Altman said.

His comments represent a notable shift from remarks he made last November on the “Conversations with Tyler” podcast, when he suggested OpenAI should aspire to become the first major company led by an AI.

“Shame on me if OpenAI is not the first big company run by an AI CEO,” Altman said at the time.

The latest comments indicate that Altman’s thinking has evolved as AI adoption has accelerated. Rather than expecting AI to replace people in leadership positions, he now believes human judgment and accountability remain essential qualities that technology cannot easily replicate.

Altman said one reason AI has not transformed the economy as dramatically or as quickly as he once anticipated is that people continue to prefer interacting with other people.

“People have a great degree of trust and enjoyment in working with other people,” he said.

“And you can go hire an AI consultant right now, or talk to an AI sales rep right now, or hire an AI engineer or whatever somehow most people seem to still really prefer interacting with a human.”

Altman added that he shares that preference.

“I definitely would much rather engage with a person than engage with an AI for almost everything,” he said.

This suggests that while AI systems are becoming increasingly capable, social trust, empathy and human relationships remain significant barriers to fully replacing people in many professional roles.

Altman pointed to creative work as another example where human involvement continues to matter, even as generative AI produces increasingly sophisticated images, writing and other content.

“There’s the joke about at this point, the signature on a piece of art is most of the value, but the truth of it is you want to know about the person behind it,” he said.

“You read a novel, you want to know about the person behind it.”

The remarks come as debate intensifies over AI-generated content across creative industries, including publishing, social media and visual arts, where questions about authenticity, originality and authorship have become increasingly prominent.

Altman also acknowledged that his outlook on AI’s impact on employment has become more measured.

Earlier in the development of generative AI, he warned that the technology could eliminate “entire classes” of jobs, particularly entry-level positions. More recently, however, he said he was “delighted to be wrong” about the technology’s short-term impact on employment, noting that widespread displacement has not occurred as quickly as he expected.

His latest comments reinforce that shift, suggesting that demand for human interaction has slowed AI’s disruption of the labor market. Even as AI models continue improving, Altman believes there remains a distinctly human capability that machines have yet to master.

While many industry leaders describe that advantage as “taste,” Altman suggested the concept is broader and more difficult to define.

“The world may need a new kind of word for the kind of judgment that people are very good at, that AIs seem to really deeply struggle with,” he said.

His current stance lends credence to an emerging consensus among some AI executives that the technology is more likely to augment human decision-making than fully replace it in areas requiring trust, accountability, creativity and nuanced judgment. While AI continues to narrow the gap in technical capabilities, Altman now believes those uniquely human qualities may remain among the most durable competitive advantages in an AI-driven economy.

4 Next Big Cryptos: XRP, Worldcoin, Hyperliquid & BlockDAG Set to Lead the Next Bull Rally

By

TI Partners

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July 29, 2026

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A fresh phase seems to be forming in crypto markets as funds move strongly into a few selected assets. Many traders are trying to spot the next big cryptos early, before wider demand pushes prices higher. While the overall market shows mixed signals between pauses and selective rises, certain projects stand out due to strong usage, buyback plans, and clear chart setups.

Spotting solid structure at an early stage often makes the difference between big gains and missed chances. Coins supported by strong inflows, system upgrades, and positive chart patterns are building steady pressure. Below are four digital assets that are shaping up for strong upward moves.

1. BlockDAG Gains Attention with $0.00000019 Entry Window

BlockDAG moves into a leading position among the next big cryptos after reaching another key stage. Claims for Batches 1–6 and official staking are set to go fully LIVE within 48 hours, giving holders a chance to claim, stake, and grow their holdings as the system expands.

To mark this step, BDAG coins are still open at a very low price of $0.00000019 for the next 48 hours only. At the same time, Live Swap is running at 22% below the CoinMarketCap rate, offering a short window for users to increase their coin share before time runs out.

Alongside this progress, BlockDAG (BDAG) keeps building its wider setup with upcoming launches such as the Casino & Sportsbook, Tier 1 Exchange listings, BlockDAG Exchange, and Super App.

By combining fast network growth, near-term staking rewards, and reduced entry pricing, BlockDAG gives early users a clear way to grow holdings and plan for long-term benefits.

2. XRP Shows Signs of Build-Up and Pattern Strength

Among the next big cryptos, XRP is showing recovery signals after falling 38% this year and 68% over the last 12 months. Data shows that accumulation is increasing, which often comes before a price rise.

Spot XRP ETFs brought in $5.6 million in one day, lifting monthly inflows to $12.43 million. This marks four straight months of positive inflows, reaching more than $325 million this year while other assets saw outflows.

Chart signals also point to a stable base. After dropping to $1 in June, the price moved up to $1.1345 while forming an inverted head-and-shoulders pattern. It has crossed above the 25-day average, and PPO lines show a positive crossover. If key resistance levels break, XRP could move toward $1.2898, with larger targets near $2, suggesting about 77% upside.

3. Worldcoin Builds Strength Before Possible OpenAI Boost

Worldcoin (WLD) is gaining attention as one of the next big cryptos after dropping nearly 50% from its June peak. The project holds strong drivers, including Grayscale’s filing for a spot WLD ETF, which could bring deeper demand if approved.

WLD is closely tied to OpenAI, both linked to Sam Altman. Market watchers expect added attention and possible value growth ahead of OpenAI’s public listing. Technical charts show a double-bottom pattern with rising RSI and PPO signals, pointing to a possible move back toward the $0.70 resistance level.

4. Hyperliquid Forms Bullish Pattern with Rising Volume

Hyperliquid (HYPE) is shaping up as one of the next big cryptos, forming a bullish pennant pattern that often signals continued upward movement. This setup includes a sharp rise followed by a tight triangle shape. After testing the lower level, the price looks ready for a bounce that may push HYPE to new highs near $76.77.

Backing this pattern are strong platform numbers. Trading volume has crossed $190 billion in the last 30 days. In addition, the rollout of HIP-4 helps the platform aim for a strong position in the fast-growing prediction market sector.

Key Insights

The search for next big cryptos brings focus to four projects with strong upward setups. While XRP, Worldcoin, and Hyperliquid show strong data and clear chart signals, BlockDAG stands out due to its short-term timing advantage.

The launch of claims for Batches 1–6 and staking within 48 hours, along with the low entry price of $0.00000019 for the same period, creates a limited-time situation.

Taking action before this short window closes allows users to secure higher allocations, get ready for staking rewards, and prepare as the BlockDAG system grows. With upcoming features like Casino & Sportsbook, Tier 1 Exchange listings, BlockDAG Exchange, and Super App, the platform is preparing ahead of the next major price move.

Best Crypto to Buy: BlockDAG, Ondo, Cardano, and TRON Lead Market Focus!

By

TI Partners

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July 29, 2026

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Capital flows across decentralized networks are shifting rapidly as traders pivot from purely speculative assets toward projects delivering functional utility, real-world yield, and robust execution. Across current market discussions, participants are closely evaluating BlockDAG, Ondo, Cardano, and TRON to identify the best crypto to buy in this shifting landscape.

Rather than relying on simple price momentum, today’s market activity rewards ecosystems with clear payout mechanics, expanding real-world asset integration, high-volume transactional pipelines, and reliable layer-1 infrastructure. Explore this article to examine how these four distinct projects are positioning themselves and where the strongest opportunities lie in the current cycle.

1. BlockDAG Drives Value Ahead of Claims Launch!

Few names in the current market compare to BlockDAG when discussions turn toward the best crypto to buy. A time-sensitive milestone announcement allows holders to secure BDAG at a limited-time price of $0.00000019 for the next 48 hours, alongside an active Live Swap running at 22% below the CoinMarketCap price.

The timeline sweetens the deal even further. In 48 hours, claims for Batches 1–6 will go fully live alongside the launch of native staking. This immediate access to claiming and staking rewards gives participants a direct path to grow their holdings and stake for passive yields as the ecosystem expands.

A live Casino & Sportsbook built on the BlockDAG network continues to anchor utility, while the project rolls out upcoming Tier 1 Exchange listings, the native BlockDAG Exchange, and an all-in-one Super App. This kind of functioning ecosystem, layered on top of immediate claiming and staking mechanisms, gives the project a foundation that few emerging tokens can currently match.

Between the limited 48-hour entry price, the imminent batch claims, active staking rewards, and an ecosystem expanding toward Tier 1 exchange access, BlockDAG (BDAG) continues to stand out as one of the strongest options available today. As the 48-hour countdown progresses, enthusiasm around this token keeps building, with expectations for continued growth remaining decidedly bullish.

2. Ondo Expands Real-World Asset Tokenization Efforts

Ondo (ONDO) is the governance token of Ondo Finance, a DeFi platform focused on bringing real-world assets onto blockchain networks. The project offers products linked to traditional finance, including tokenized Treasury exposure and yield-focused solutions.

Ondo has gained attention as interest in real-world asset tokenization grows, though the token price has also moved with wider market conditions. Among discussions about the best crypto to buy, ONDO is often considered because of its connection to financial products rather than short-term trends.

The platform has expanded its services across multiple networks and continues to work with financial partners. Future progress will depend on adoption, market demand, and how quickly tokenized assets become part of regular financial activity.

3. Cardano Faces Risks Amid Upgrade Plans

Cardano (ADA) is a Layer 1 blockchain built around proof-of-stake technology, research-based development, and long-term network planning. It supports smart contracts, staking, decentralized applications, and governance features. Cardano remains a large cryptocurrency project with strong liquidity, although ADA has faced price pressure during recent market changes.

When investors discuss the best crypto to buy, ADA is often included because of its established network and ongoing development plans. The project continues to work on upgrades aimed at improving performance, security, and usability.

Recent concerns around a third-party wallet issue affected sentiment, but the problem was linked to the wallet layer rather than the Cardano blockchain itself. Future growth will depend on adoption and successful upgrades.

4. TRON Maintains Stablecoin Transaction Growth Focus

TRON (TRX) is a Layer 1 blockchain designed for fast transactions, low fees, and smart contract support. It uses its own virtual machine and allows developers familiar with Ethereum tools to build applications more easily. TRON has become widely used for USDT transfers because of its speed and lower transaction costs, especially for cross-border payments.

In conversations about the best crypto to buy, TRX is often mentioned due to its strong transaction activity and network usage. However, the project also faces challenges, including regulatory attention connected to stablecoin activity.

TRON’s future performance may depend on continued demand for digital payments and how global rules affect stablecoin networks. The blockchain remains focused on practical transaction use rather than only speculation.

Final Thoughts

Blockchain protocols are increasingly measured by tangible adoption metrics, real-world utility, and structured economic incentives. While Ondo, Cardano, and TRON offer distinct strengths across real-world asset tokenization, research-driven Layer 1 scalability, and global stablecoin liquidity, their long-term trajectories remain closely tied to broader market cycles and gradual network adoption.

By contrast, BlockDAG establishes an immediate advantage through concrete incentives, upcoming Tier 1 exchange listings, and a rapidly growing ecosystem spanning a Casino & Sportsbook, BlockDAG Exchange, and Super App. Featuring a limited-time entry price of $0.00000019, a 22% Live Swap discount, and claims and staking going live in 48 hours, BlockDAG positions itself firmly as the best crypto to buy right now.

SpaceX Extends Sharp Selloff of Over $1.2tn As Investors Brace For Earnings And Lock-Up Expiry

By

Samuel Nwite

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July 29, 2026

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SpaceX shares continued their steep decline this week, extending one of the stock’s worst losing streaks since its public debut as investors reassess lofty artificial intelligence valuations, mounting capital expenditure concerns and the potential impact of an upcoming share lock-up expiration.

The stock fell more than 1% on Monday to close at $113.50, marking its 13th decline in the past 16 trading sessions. It slipped another 3% in early trading on Tuesday, leaving shares down roughly 50% from their June peak of $225.64.

The selloff has wiped out more than $1.2 trillion in market value, erasing nearly the equivalent of the current market capitalization of Elon Musk’s other publicly traded company, Tesla. The decline also reflects a broader retreat from AI-linked technology stocks, as investors become increasingly concerned that surging spending on artificial intelligence infrastructure could weigh on profitability before meaningful returns materialize.

The recent weakness follows a wider rotation out of high-growth technology companies after several major firms, including Alphabet and Tesla, disclosed significantly higher capital expenditure plans tied to AI infrastructure. Investors have become focused on whether hundreds of billions of dollars being invested in data centers, chips and AI computing capacity will translate into sustainable earnings growth.

Despite the heavy selling pressure, options activity suggests many traders continue to bet on a rebound, although institutional investors appear more cautious.

More call options than put options changed hands on Monday, with traders purchasing about 106,000 call contracts compared with 77,000 puts. However, put options accounted for the majority of the $442 million in premiums traded, indicating that larger investors continued to spend more heavily on downside protection.

The day’s most actively traded option was the 330-strike call expiring Friday. Priced at just $0.10, the contract has only about a one-third of one percent probability of finishing in the money, according to ThinkOrSwim data. Such activity suggests many retail investors are pursuing highly speculative bets on a rapid recovery.

Meanwhile, some of the largest institutional options trades carried a more constructive tone. Data from Cboe LiveVol showed that four of the five biggest trades by premium were either neutral or bullish. Among them were sizable put-spread sales, including a multimillion-dollar transaction involving in-the-money put spreads that would benefit if SpaceX shares recover.

Another investor collected approximately $1.8 million by selling 5,200 put contracts with a $100 strike price expiring Oct. 16 while simultaneously purchasing 7,000 puts at the $85 strike, a strategy that generally reflects expectations that the stock will remain above key support levels.

“As an investor it’s early. As a trader, Wall Street is now punishing the AI stocks for capex,” said Charles Moon, a technology and momentum specialist at Prosper Trading Academy in Chicago.

Attention is now shifting to SpaceX’s first earnings report as a publicly traded company, which could prove to be another major catalyst for the stock.

Beyond the financial results themselves, investors are closely watching the expiration of the company’s post-IPO lock-up restrictions. Beginning on Aug. 6, eligible shareholders will be permitted to sell up to 20% of their locked-up holdings, representing as many as 911.5 million shares.

Large lock-up expirations often increase selling pressure as early investors, employees and insiders gain their first opportunity to monetize part of their holdings. While not all eligible shares are typically sold immediately, the prospect of additional supply entering the market frequently weighs on investor sentiment.

“I don’t think the lock-up on SpaceX will be as bad as everyone fears,” Moon said. “But it’s not going to help the cause either.”

The sharp decline has also triggered visible anxiety among retail investors, particularly across social media platforms where many individual traders had viewed SpaceX as one of the market’s premier long-term growth stories.

On Reddit’s WallStreetBets forum, one investor shared a screenshot showing losses of nearly CAD 455,000 on thousands of SpaceX shares, writing, “Elon has ruined me. He was supposed to take us to Mars and burn short sellers. Still holding 7,300 shares.”

Similar frustration appeared on Elon Musk’s social media platform X, where users responding to posts showcasing SpaceX’s Starship rocket lamented the stock’s collapse.

“It sure would be cool if this stops crashing… 30 percent short interest and down 40 percent on the month,” one user wrote. Another added: “I believed in you and lost over 20k in a month. I really hope that it comes back.”

The coming weeks could determine whether SpaceX stabilizes after its dramatic correction or faces another wave of volatility. Investors will not only scrutinize the company’s inaugural earnings as a listed company for signs that its valuation can be supported by financial performance, but will also monitor insider selling following the lock-up expiration and broader sentiment toward AI-related technology stocks.

For now, the stock remains emblematic of a wider shift in market sentiment. After months of rewarding companies tied to the AI boom, investors are now demanding evidence that unprecedented spending on artificial intelligence infrastructure can generate returns sufficient to justify premium valuations.