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Brent climbs to $67.21pb on dampened supply prospects

Brent crude rose 0.96% to $67.21pb after talks to resume 230,000 bpd of Iraq’s Kurdistan oil exports failed, easing near-term oversupply concerns. Downside risks persist as slowing economic activity in major consuming countries continues to weigh on demand expectations.

MPC cuts interest rates by 50bps!

The MPC cut the benchmark interest rate by 50bps to 27%, but retained the asymmetric corridor at +260 and -250bps, on the back of macroeconomic stability. The rate cut aims to stimulate credit and output growth without compromising price stability. Nigeria’s interest rate–inflation differential still gives it an edge over regional peers, ensuring sustained foreign portfolio inflows.

Nigeria’s GDP Expands by 4.23% after rebasing

Nigeria’s GDP rose to a 4-year high to 4.23% in Q2 2025, up from 3.48% a year earlier, largely reflecting the rebasing to a 2019 base year. Oil GDP surged 20.46% on higher crude output, while non-oil GDP expanded 3.64%, driven by gains in Industry, services and agric. Quarter-on-quarter momentum is expected to moderate next quarter as sectors adjust to the base effect.

FDC’s Vice President, Dr. Ifeoma Nwokolo discussed these and other burning economic issues on Channels TV Business Morning.

Click the link below to watch the video.

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