Nigeria produces 461,000mt of sesame seeds a year, generating over $700 million in export revenue, ahead of cocoa ($500m). Nigeria is the world’s 6th largest producer of the commodity, which hardly has a domestic market.
Brent oil price crossed the $70pb resistance for the second time this month. This is good news for Nigeria and OPEC.
The Nigerian stock market has recovered, jumping 0.17%, after a sharp dip of 1% yesterday.
The attached document contains an analysis of the developments in the global and domestic commodities market.
Enjoy your read!