Nigeria is the world’s third largest producer of gum-arabic, with annual output estimated at 22,000 tonnes. Notwithstanding, the country’s production does not reflect its potential. As Nigeria seeks to diversify its revenue profile away from oil, boosting local production would be crucial for economic growth and job creation.
The price of oil has stayed firmly above $63pb in the last month. This means solid revenue in April for the FGN and states.
The attached bulletin addresses these and other issues in the domestic and global commodities market.
Enjoy your read!