It’s good news for farmers especially Cocoa and Wheat farmers as global conditions lead to increased demand according to latest figures released by the Financial Derivatives  Company, (FDC) With poor weather conditions affecting wheat farmers in the United States and expectations of low main-crop harvest in Ivory Coast leading to a thinning global supply of Cocoa from major supplies, Nigeria could witness a 0.31 percent rise in wheat futures and a 0.99 percent rise in the price of Cocoa

improved global demand for Cocoa and Wheat

There is even more good news.  Nigeria is witnessing its 13th consecutive month of decline in inflation, with headline inflation declining to 14.33 percent in February, the report said.

Ignatius Chukwu, a financial journalist based in Port Harcourt says that is some reason for cheer. “the decline in inflation rate is not strange, Chukwu says.  “ I am not surprised at the decline in inflation because we passed through a sharp rise in foreign exchange prices and a sharp reduction although not back to the pre 2015 figures.”

improved global demand for Cocoa and Wheat

Although the cumulative decline is at a single digit of 3.75 percent, core inflation shows a double-digit decline at 11. 7 percent, it’s lowest in three months. All that good news that could make one giddy, were it not for the fact that the country’s debt keeps piling while its productivity is barely growing. Our debt is spiraling with a 25 percent rice in total debt stock, a “ticking time bomb according to the FDC report. There is also not much to cheer about our debt/export ratio, which is at 57 percent and a slight decline in the Naira. Experts say the prognosis is cautious optimism hinged on hopeful gains in the price of crude oil; another rude reminder that Nigeria remains a mono product economy.

There is even more good news.  Nigeria is witnessing its 13th consecutive month of decline in inflation, with headline inflation declining to 14.33 percent in February, the report said.

But we should on the bright side, some of the numbers that determine production like power are looking good. Average power output so far this month is slightly over 4000 MWh/h, some improvement from the 3000MWh/h days.