Nigeria is the largest producer of peanuts (groundnuts) in Sub-Saharan Africa, and 3rd in the world. It is an important ingredient for African broths, butter, confectioneries, cosmetics and personal care products. It has major health and wellness advantages. Its versatility and potential export benefits make it a commodity of the future in Nigeria.
In the meantime, Brent oil has dropped by more than 10% in February, technically now in correction territory. The Nigerian economy will feel the pinch in 60-90 days when lower revenues begin to manifest itself.
The attached slides contain a snapshot of recent commodity market movements and burning economic issues.
Enjoy your read!