Dear Subscriber,

Brent lost 3.91% to $62.92pb due to looming trade war concerns

Brent futures fell 3.91% to $62.92pb after U.S. President Trump imposed a 104% new tariff on as part of an escalating financial frenzy after China’s increase of 84% tariffs on U.S. goods. This ping pong will keep prices volatile in the near term. In the meantime, Dangote refinery has reduced the price of PMS by N10 to N920/litre.

Domestic commodity prices falling

In line with our inflation forecast of 22.54% for the month of March, we have noticed a decline in most commodity prices, driven by consumer income constraints. Notable decreases include rice (50kg) by 10.53%, beans (50kg) by 15%, garri (40kg) by 5.88%, and palm oil (5L) by 16.67%. However, pepper prices rose by 91.67% due to low supply from pest infestations.

FDC’s M.D. Mr. Bismarck Rewane, discussed these and other burning economic issues on Channels TV Business Morning.

Click the link below to watch the video.

Enjoy your read!