Oil prices spiked by 1.1% to above $38pb as expectations for a more disciplined enforcement by OPEC buoyed market sentiment. Nigeria will benefit from the price increase but its revenue will suffer the impact of a production cut. The FGN benchmark price gives enough room for revenue swings.
A further relaxation of the lockdown, at a time of rising infection rates, is raising concerns about the testing, tracing and isolation of likely carriers. The level of infections in the next 4 weeks will determine what happens next.
In the slides, the FDC Think Tank discussed these and other burning issues on Channels TV Business Morning programme.
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