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No December petrol queues—Dangote to the rescue

Nigeria is expected to have stable PMS supply this Christmas, unlike the intermittent supply of  past years. The Dangote Refinery is pumping all variants of refined products, from dual-purpose kerosene to PMS. The retail price of PMS was also reduced to N970 per litre. Meanwhile, Brent futures slipped 0.46% to $71.79pb as fears over the impact of Syrian President Bashar al-Assad’s overthrow eased. The decline followed reports that Syrian banks and the oil sector resumed operations today.

The price of a loaf of bread rose by 12.5% to N1,350

The price of a loaf of bread surged by 12.5% from N1,200 in August to N1,350 in December, driven by rising input costs like flour, sugar, eggs, and margarine. Moreover, the sharp surge in diesel prices last year, which is a major source of power for bakeries, further pushed input costs higher.

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

Click the link to watch the video.

Enjoy your read!