Dear Subscriber,

Brent slipped to $65.95pb  

Brent futures declined by 0.98% to $65.95pb driven by optimism over a potential ceasefire in Ukraine. The decline followed reports of President Trump’s proposed summit between Vladimir Putin and Volodymyr Zelensky.

In Nigeria, the pump price of PMS declined by 3.35% to N865/litre after Dangote Refinery reduced its ex-depot price to N820/litre

Markets look to Powell ahead of Jackson Hole

Global investors await Powell’s Jackson Hole speech on Friday, where Fed officials will outline views on growth, inflation, and tariff impacts. Markets are also anticipating a potential 0.25% rate cut at the September 16–17, 2025, policy meeting.

The price of a piece of ponmo (cow skin) surged by 67%

The price of a piece of ponmo has surged by 67% (YTD) to N500, driven by higher beef costs and growing demand. With income constraints forcing consumers to seek cheaper protein substitutes, ponmo has become an inferior good. However, its rising popularity is pushing prices upward, making it less affordable for poorer households and worsening food inflation pressures.

FDC’s M.D. Mr. Bismarck Rewane, and analyst, Rosemary Ehira, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes, respectively.

Click the link below to watch the video.

Enjoy your read!