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Dangote refinery cuts ex-depot price for the second time in a week to N820/litre

Dangote Refinery has reduced its ex-depot petrol price by N20 to N820/litre from N840/litre—the second reduction in a week. This represents a total 6.81% decrease from the initial N880/litre. If sustained, this could further exert downward pressure on pump prices and potentially ease inflation.

Brent falls to $68.80pb

Brent futures declined by 1.98% to $68.80pb, driven by rising concerns over global trade disruptions after President Trump issued letters proposing new punitive tariff. Additionally, an unexpected 7.1-million-barrel build in U.S. crude inventories further pressured prices downward.

The price of nickel plunges by 67% to $14,920/mt

The price of nickel plunged by 67% to $14,920/mt from 2023 peak of $45,795/mt, driven by a supply glut from Indonesia’s 2.2 million metric tons output in 2024. The decline is expected to persist through 2025 as EV makers shift to cheaper lithium iron phosphate batteries. Consequently, stainless steel prices may fall, potentially reducing costs of household items, construction materials, and medical equipment globally.

FDC’s Senior Associate, Research, Halimah Adediran, and analyst, Rosemary Ehira, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated, respectively.

Click the link below to watch the video.

Enjoy your read!