The stock market slipped back into negative territory after trading positive for two days, just as commodity prices are rallying. Brent is at a 13-month high of $67.28pb.
The price of crude has posed a dilemma for Nigerian policy makers who need to adjust the pump price of petrol to N190 per litre to maintain equilibrium and keep subsidies at a minimum. Whilst the discussions between the unions and government remain inconclusive, domestic commodity producers are set to jack up prices as soon as the petrol price is adjusted.
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.