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Telcos to get a moderate tariff hike soon

The Minister of Communications has confirmed that the government will agree to a modest increase in tariffs to ensure industry sustainability and reduce the profit erosion of the operators. He pushed back against the 100% tariff increase request made by the Mobile Network Operators (MNOs).

Brent rose to $76.48pb on colder-than-usual winter conditions

Brent futures climbed 0.42% to $76.48pb driven by higher demand for heating fuels amid colder-than-usual winter conditions, which are increasing fuel consumption. Oil prices are anticipated to remain bullish in the near term, supported by the severe winter forecast in the U.S. for January, which is likely to continue driving up demand.

The price of iron ore dropped 32.20% to $97/tonne

The price of iron ore plunged 32.20% (yoy) to $97.36/tonne in January 2025 from $143.6/tonne in January 2024, driven by weak steel demand in China amid its real estate crisis. Nigeria has vast iron ore deposits predominately in northern Nigeria (Kogi, Niger, Zamfara, Kebbi, and Kaduna). With increased government efforts towards infrastructure development, opportunities emerge to improve domestic iron ore and steel production in the near term.

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

Click the link to watch the video.

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