In March, the average national price of refined petroleum products declined across board. Petrol fell by 5.3% to N163.4/liter, while Diesel and Kerosene prices declined 1.65% (to N206/ltr), and 6.79% (to N268/ltr) respectively.
The lower energy costs reinforce the inflation trend, as shown in the fall in headline inflation to 13.34%. However, domestic commodity prices have started climbing up again. The prices of palm oil, flour and rice are higher in April compared to February.
The attached document contains a snapshot of the burning issues, alongside an analysis of the global and domestic commodities market.
Enjoy your read!