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Brent rose to $62.35pb

Brent futures gained 1.08% to $62.35pb after U.S. President announced that India’s Prime Minister pledged to halt purchases of Russian oil. The move aims to pressure Moscow toward peace in Ukraine and may tighten supply, although lingering supply risks could still weigh on prices.

Nigeria’s Headline inflation eased to 18.02% in September

Headline inflation eased for the sixth consecutive month, falling sharply by 2.10% to 18.02%. The moderation was largely driven by harvest season, FX stability, and base year effects. However, this trend may not be sustained as rising PMS prices (N992/litre) could change the trajectory.

The price of cobalt more than doubled to $42,725/tonne

Cobalt prices surged by 103% to $42,725/tonne in October 2025 from $21,000/tonne in February, following the Democratic Republic of Congo’s (DRC) export ban. The restriction tightened markets and raised production costs for EV batteries and electronics. However, prices are expected to ease in the near term as the DRC lifts the ban and enforces export quotas beginning October 16, 2025.

FDC’s Assistant Vice President, Dr. Ifeoma Nwokolo, and Economic associate, Ajibola Ayodeji discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated, respectively.

Click the link below to watch the video.

Enjoy your read!