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 FGN increases its 2025 budget to N54.2trn

On February 5, the FGN increased the 2025 proposed budget by 9.05% from N47.9 trillion to N54.2 trillion, citing additional revenue generation and robust infrastructure and solid minerals sector investments. Additionally, the naira appreciated by 1.92% to N1,565/$ at the parallel market, as the CBN extends forex sales to BDCs until May 2025.

Brent up to $74.93pb as Saudi Arabia raises crude prices

Brent futures rose 0.43% to $74.93pb after Saudi Aramco raised its March 2025 contract crude prices for Asian buyers. However, prices may decline soon due to the ongoing U.S.-China trade war and rising U.S. crude inventories, which have heightened concerns over weakening global oil demand.

The price of a crate of eggs declined to N6000

The price of a crate of eggs fell 23.08% to N6,000 from N7,800 in December, driven by lower post-festive demand. A decline in poultry feed costs, mainly maize, which makes up 65% of feed, also contributed to the price decline. However, prices are expected to rise in the near term due to low production ahead of the Ramadan season on March 1.

FDC’s M.D., Mr. Bismarck Rewane,, 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!