Oil prices slip as Venezuela sanctions ease
Brent futures declined by 1.09% to $90.50pb, after trading at $91.50pb on October 18th. This decline is due to the possible increase in output as the US eased sanctions on Venezuela. However, losses were limited by growing geo-political tensions in the Middle East.
The price of turkey jumps by 60% ahead of Thanksgiving
The price of a kilo of turkey surged by 60% to N5,300/kg in October 2023 from N3,300/kg in January 2023. This increase can be attributed to the high cost of livestock feeds, exchange rate fluctuations, and rising demand as the festive season approaches (Thanksgiving and Christmas). Higher prices could prompt consumers to switch to more affordable alternative sources of protein like fish.
These and other burning economic issues were discussed on the Business Morning programme by Economist Clement Igbanugo on Channels TV.
Click the link below to watch the video.
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