With oil prices above $70pb, a 36-month high, policy makers in Nigeria are likely to be thinking of reviewing budgetary spending upwards and looking forward to a stronger naira.
However, it is still too soon to celebrate as oil price volatility is a feature of commodity markets.
The current price is 15.73% above the average in Q4’17 and thus provides a much needed buffer against exogenous shocks.
The attached slides contain a snapshot of the commodities market and the burning economic issues on the domestic and global front.
Enjoy your read!