September 09, 2020 / 09:58 AM / FDC / Header Image Credit: FDC Limited
Oil plunged by 6% in one day as doubts of the economic recovery by investors spooked markets. At a time of growing controversy about the new PMS pump price of N160 per litre, the thoughts of a sharp drop in the price of oil will be received with mixed feelings by Nigerian consumers. Does this mean lower petrol price accompanied by a drop in government revenue? The Naira continues to wobble in the parallel market, now trading at N445/$.
The slides below provide a snapshot of the discussion in the Commodities segment of the Business Morning programme on Channels TV by the Head of the FDC Think Tank.