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Brent oil prices hit a four-month high on geopolitical tensions

Brent crude futures surged by 2.36% to $78.51 per barrel (pb) due to increased tensions in the Middle East. This is 4.68% higher than Nigeria’s 2025 budget benchmark of $75 pb, which is likely to boost the naira in the foreign exchange market.

The prices of smartphones in Nigeria rose by 80% in 2025

In Nigeria, smartphone prices spiked by 80% in 2025, which has led to a 7% drop in Q1 sales. The main causes are exchange rate volatility and inflationary pressures. Given that smartphones are increasingly becoming substitutes for PCs (especially among Gen Z and informal workers), rising smartphone prices could become an impediment to digital productivity.

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

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