October 25, 2017 / 8:40 AM /FDC
Diesel prices have climbed 2.5% in the last week. Cumulatively, it has increased 20.4% despite the improvement in on-grid power generation.
Domestic commodity prices have been oblivious to the diesel price spike due to the bountiful harvest season.
Burning Economic Issues
· 46m bank accounts without BVN
· 2018 Budget to be presented at FEC
· Trump to decide on Fed chairperson
· Brent crude up 0.21% to $57.49pb
· Parallel market flat at N363/$
· Diesel price up 2.5% to N205 per litre
· Improved on-grid power generation at approximately 4000MW
· Frozen accounts to drain liquidity out of the banking system
· Grain prices to trade bearish on favorable weather Forecast
· Lowering demand expected to weigh on prices