United States President Donald Trump seemingly tweeted his way into getting the OPEC-Russia alliance to act on cooling down the oil markets. However, what he may not have foreseen is the impact his ban on Iranian oil imports would have on the oil markets. Prices are back up to $78 per barrel, US gas prices are up to almost $3/gallon and this could hurt the US economy and him as the US midterm elections approach.
Recently released trade statistics by the Central Bank of Nigeria reveal significant improvement in Nigeria’s foreign trade position in the first quarter of 2018. However, with oil & gas proceeds accounting for 93% of total exports, Nigeria’s vulnerability to oil price and production shocks remains its Achilles heel.
How we communicate, socialize, spend leisure time, and conduct business has moved onto the internet. The amount of data harvested from these activities is growing constantly – Big data. This itself is an expedition into unchartered territory with seemingly limitless possibilities. However, the potential for abuse is rife and presents potentially grave consequences.
In this edition of the FDC Bi-monthly publication, the FDC Think-Tank analyzes these issues and their implications on businesses and the economy at large.
Enjoy your read!