February 9, 2018 /9:55 AM /FDC
The first week of February saw a meltdown in both the world’s stock and commodity markets. Brent lost 7.2% to trade at $65pb and the Dow Jones lost 4.6% in one day.
In Nigeria, the Apapa truck gridlock continues to take its toll. It remains a nightmare for importers and commuters alike, with 74 ships awaiting berth, and truck turnaround time at 6 days. This is negative for business logistics, infrastructure and general economic activity.
1. Nigeria is World’s Largest Consumer and Producer of Cassava With an Annual Output of 57.13m Tonnes
2. Sugar Prices Down by 0.15% - FDC
3. World Avocado Production Currently Valued at $10bn
4. Oil Price Volatility Is a Feature of Commodity Markets
5. The Delayed Impact of the Fuel Scarcity on Inflation is Expected in January 2018.
6. Nigeria’s non-oil exports increased by 55% to $1.26bn in 9M’2017
7. The Nigerian Economy: Riding On Global Commodities Market Waves
8. Drop in MoM Inflation Attributed to Massive Increase in Aggregate Output in December 2017
9. Nigeria is the nation with the 5th largest agric output in the world
10. Nigeria is the Largest Producer of Tomatoes in Sub-Saharan Africa and 13th in the World
11. Nigeria is Now the World’s Second Largest Producer of Sorghum
12. Consumers Are Bracing Themselves for a Challenging Christmas
13. Nigeria is a Fringe Player in Global Rice Production
14. Growing Global Supplies to Keep Prices of Grains Down
15. Oil Prices Slipped 0.26% in Sympathy with A 5% Slump in Copper Prices