Commodity Prices to Remain Elevated as Transport Fares Set to Rise Further

Wednesday, February 24, 2021 / 2:25 PM / FDC Limited / Header Image Credit: FDC Limited

Brent is now trading above $65 per barrel and generating decent revenues for the FGN as production is stalled at 1.45mbp.  These revenues are now beginning to yield a positive impact on the excess crude account which is now at a paltry $77m on the one hand and keeping Nigeria's external Reserves ($35.28bn) from dropping sharply on the other.  The outlook is for oil to trade steady above $60pb in March 2021.

The slides below give a snapshot of the discussion in the commodities segment of the Business Morning programme on Channels TV by the FDC Think Tank.

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