October 25, 2018 / 07:10 PM / FDC
Nigeria’s Consumer Confidence Index (a measure of consumer optimism about their present economic circumstances) declined by 9% in Q3’18. This is an indication of dwindling purchasing power and economic despair. This is likely to make the current minimum wage negotiation more acrimonious.
Brent price dropped sharply by 4.5% to $75.74pb in one week. The impact of this decline on oil revenues, external reserves and the value of the naira will be profound if it is sustained.
The attached document contains a snapshot of the global and domestic developments in the commodities market this week.