Dear Subscriber,

Brent slipped to $64.52pb

Brent futures lost 2.03% to $64.52pb as investors lowered their demand growth expectations due to the U.S. and China tariff war and growing oversupply concerns. Near-term oil prices may remain bearish, with OPEC+ planning further output increases in May and June, and a potential progress in U.S.-Iran nuclear talks that could ease sanctions and boost supply.

Nigeria’s non-oil exports surged 25% to $1.791bn in Q1’25

Nigeria’s non-oil exports rose by 25% in Q1 2025 to $1.791bn from $1.436bn in Q1 2024, driven by strong agricultural output, mainly cocoa (45%) and urea/fertilizer (19.32%). This growth is expected to continue, reducing reliance on oil, diversifying government revenue, and enhancing fiscal consolidation.

Price of stockfish remains relatively stable

The price of stockfish has remained steady at ₦1,500–₦1,800 in 2025, due to constrained consumer incomes and a stable exchange rate. To maintain affordability, traders now sell in sachets and smaller portions. The current price level is expected to continue through Q2 2025.

FDC’s Manager, Dumebi Oduwole and senior analyst, Tomiwa Ajewole discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated respectively.

Click the link below to watch the video.

Enjoy your read!