The first week of February saw a meltdown in both the world’s stock and commodity markets. Brent lost 7.2% to trade at $65pb and the Dow Jones lost 4.6% in one day.
In Nigeria, the Apapa truck gridlock continues to take its toll. It remains a nightmare for importers and commuters alike, with 74 ships awaiting berth, and truck turnaround time at 6 days. This is negative for business logistics, infrastructure and general economic activity.
The attached slides contain an overview of the recent developments in the domestic and commodities market.
Enjoy your read!