[vc_row][vc_column][gem_button corner=”3″ icon_pack=”elegant” text=”DOWNLOAD PDF” link=”url:http%3A%2F%2Ffdcng.com%2Fwp-content%2Fuploads%2F2019%2F04%2FCommodities-Update-April-16-2019.pdf||target:%20_blank|” text_color=”#ffffff” hover_text_color=”#000000″ background_color=”#ddbd89″ hover_background_color=”#ddccaa”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber,

Brent oil rose marginally by 0.08% to $71.24pb due to prospects of lower production from Libya after hostilities resumed between two major armed groups. At $71pb, the price of oil is 17% above the budget benchmark ($60pb) and remains supportive of external reserves and naira stability.

The Eko Electricity Distribution Company confirmed that there was a total system collapse of the Transmission Company of Nigeria’s network for at least 10 hours today, having a negative impact on aggregate output and pushing up diesel prices.

The attached slides address these and other issues in the domestic and global commodities market.

Enjoy your read![/vc_column_text][/vc_column][/vc_row]