Dear Subscriber,

Brent climbed to $66.56pb

Brent futures rose 2.46% to $65.63pb following a 90-day U.S.-China tariff reduction, which lowers U.S. tariffs from 145% to 30% and China’s from 125% to 20%. Meanwhile, U.S. inflation eased to 2.3% in April from 2.4% in March, reinforcing expectations that the Federal Reserve will hold interest rates steady. This could spur consumer spending and drive oil prices higher in the near term.

Price of mid-sized bunch of plantains surged to N5,000

The price of a mid-sized bunch of plantains jumped 400% to N5,000 in May from N1,000 in December 2024, driven by seasonality and rising demand. With prices expected to stay elevated, the cost of plantain derivatives like chips and flour is also likely to increase in the near term.

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

Click the link to watch the video.

Enjoy your read!