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Brent dropped 0.18% to $83.05pb as investors await inventory data from EIA

Brent crude slipped 0.66% to $83.05pb today as investors await U.S. crude inventory data from the EIA and U.S. inflation figures on Friday. Also important is the outcome of OPEC+ virtual meeting on Sunday.

Ginger prices skyrocketed by 275% to N45,000 (50 kg) on rising demand 

The price of ginger in Nigeria has surged by 275%, reaching N45,000 per 50kg bag from N12,000 in 2022. Despite being the world’s second-largest producer, increased global demand and rising exports have driven the domestic price of the commodity up. The price is expected to remain elevated until the global price of ginger stabilizes later in 2024.

FDC’s senior analysts, Dumebi Oluwole and Tomiwa Ajewole discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes respectively.

Click the link to watch the video.

Enjoy your read!