Dear Subscriber,

A contract of $6.7bn to revamp the moribund Nigerian railway system is likely to have a profound impact on national productivity and GDP growth.

More directly, its effect on reducing distribution costs will help keep inflation and food prices in check. The bad news is that there will be a considerable time lag between this investment decision and its impact on the economy.

The attached slides summarize the events that took place in the domestic and global commodity markets this week.

Enjoy your read!