Dear Subscriber,

Brent slipped to $74.80pb on the U.S.-China trade clash

Brent futures fell 1.53% to $74.80 as U.S. tariffs on China took effect, with President Trump imposing a 10% levy on Chinese goods. The decline was further driven by OPEC+ maintaining its plan to gradually increase output from April. In Nigeria, Dangote Refinery cut its ex-depot fuel price by 6.32% to N890/litre, reflecting lower global oil prices.

The average price of evaporated milk (160g) increased to N900

The average price of a tin of evaporated milk rose by 28.75% (yoy) to N900 from N700, driven by higher production costs. With increasing demand and a further anticipated hike in price, consumers are now switching to more affordable substitutes and sachets.

FDC’s Manager, Dumebi Oluwole, and analyst, Miriam Odey, 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!