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Brent futures rise by 1.26% to $103.19 per barrel
Brent futures rose 1.26% to $103.19 per barrel as markets priced in risks of prolonged supply disruptions amid stalled U.S.–Iran peace talks. Oil prices are likely to stay higher, boosting Nigeria’s export earnings while also leading to higher domestic fuel costs.
FAAC disbursement increases to N2.04trn in March
The Federal Account Allocation Committee (FAAC) disbursed N2.04trn among the Federal, State, and Local Governments in March. This represents a 7.94% increase from February’s allocation of N1.89trn and the highest level recorded in 2026. Allocations may stay elevated on strong oil prices but could expand money supply and intensify inflationary pressures in the near term
Pasta prices surge 34.38% (yoy) to N21,500 per carton
The price of a carton of pasta surged by 34.38% (yoy) to N21,500 from N16,000, driven by higher global wheat prices and rising production costs. Prices are expected to remain elevated due to tighter supply, as wheat plantings are likely to decline in response to higher fertilizer costs. Consequently, consumers may shift toward cheaper substitutes such as rice, which is projected to decline in price.
FDC’s Assistant Vice President and Head of Research, Dr. Ifeoma Nwokolo, and analyst Ayobami Olatunji discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated, respectively