The price of cocoa has gained approximately 7% in April as Ivory Coast, the world’s largest producer, is seeking to reduce its output. The impact on Nigeria is not significant because the country’s cocoa export revenue is miniscule compared to oil.
Nigeria’s IGR spiked by 50% y-o-y to N1.17trn ($3.2bn) in Q1’2018. This would help state governments reduce their salary backlog and outstanding debt obligations.
The attached slides summarise the events that took place in the domestic and global commodity markets this week.
Enjoy your read….