FDC COMMODITY UPDATE -January 23, 2025

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Dear Subscriber,

Dangote sells petrol at a uniform price of N970/litre nationwide

In partnership with Ardova, Heyden, and MRS filling stations, the Dangote refinery sets its pump price at N970/litre after absorbing 50% of the global hike in oil prices. Additionally, the Dangote refinery has ensured a uniform price across the country irrespective of logistics costs to other parts of the country.

NLC and consumers push back against the 50% increase in telco tariffs

The Nigeria Labour Congress (NLC) and telecom consumers have opposed the 50% hike in telco tariffs approved by the NCC due to fear of further strain on disposable incomes. However, the Federal Competition and Consumer Protection Commission (FCCPC) has cautioned that any increase must be justified by a corresponding improvement in service quality for consumers.

The price of a 50kg bag of sugar falls to N81,000

A 50kg bag of sugar dropped 4.7% in January to N81,000 from N85,000 in November. This decline is attributed to increased global sugar supply, which lowered import costs amid stable exchange rates. The decline is expected to continue as India lifts its sugar export ban, which will potentially reduce production costs for beverages and baked goods.

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

Click the link below to watch the video.

Enjoy your read!