Dear Subscriber,

Brent drops to $70.42pb as OPEC+ sticks to April output hike

Brent futures fell by 1.68% to $70.42pb as OPEC+ moved to increase oil production by 138,000 barrels per day in April. This move will mark OPEC+’s first output hike since 2022, aligning with Trump’s push for lower prices. This is $4.32 (6.11%) below Nigeria’s $75pb oil benchmark price, which will lower oil revenue and increase the fiscal deficit.

FDC forecasts February inflation to ease to 32.11% (old method)

FDC projects February headline inflation to decline to 32.11% from a peak of 34.80% in December 2024. This validates the recent price reductions in some key commodities like rice (50kg) at ₦90,000 (-2.86%), beans (60kg) at ₦95,000 (-5.26%), garri (40kg) at ₦34,000 (-5.26%), and onions (80kg) at ₦90,000 (-10%), driven by consumer resistance and increased supply.

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

Click the link to watch the video.

Enjoy your read!