The Niger Delta Avengers threaten to disrupt Nigeria’s oil production. This could reduce output by as much as 50% and threaten growth and external sector stability.
The good news is that Nigeria’s non-oil exports increased by 55% to $1.26bn in 9M’2017. This represents a paltry 2.6% of total exports projected at $48bn for 2017 and implies that the country is still heavily dependent on oil and gas.
The attached slides summarises the events that took place in the domestic and global commodity markets this week.
Enjoy your read!