Average prices of foods, transportation and health care among other needs have been projected to increase for month. Investment bankers have estimated uptick in headline inflation rate for the month of May, projected to spike to 12.43%.

Nigeria’s Oil Supply Quota Caps at 1.41 Million Barrels Per Day. As per efforts to reflate, stabilise global prices of oil, Nigeria is expected to slash daily oil supply to 1.41 million barrels per day (MMbpd) base on quota from the Organisation for Petroleum Exporting Countries.