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Brent rises to $67.42pb

Brent futures climbed 0.57% to $67.42pb, driven by optimism over a potential U.S.-China tariff deal. Market sentiment improved after U.S. Treasury Secretary Scot Bessent and Commerce Secretary (Howard Lufnick) described Monday’s talks as ‘good’ and ‘fruitful,’ signaling progress.

FDC forecasts May inflation to decline to 23.15%

Inflation is projected to ease marginally to 23.15% in the month of May from 23.71% in April, driven by a stable exchange rate, lower PMS and diesel prices, and base year effects. Inflation could rise again in June due to flooding in Mokwa, a key farming hub, combined with increased demand during the Sallah festival.

Prices of a 12.5kg cylinder of cooking gas declined to N16,250

The price of a 12.5kg cylinder of cooking gas dropped by 7% to ₦16,250 in June, down from ₦17,500 in April. This reduction was driven by lower import costs and falling petrol prices. In the near term, we expect the downward trend to continue, supported by increased market competition and a stable exchange rate.

FDC’s M.D., Mr. Bismarck Rewane, and economic associate, Tomiwa Ajewole, 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!