The inflation surge is everywhere.
The Stears newsroom has documented in great detail how rising food and energy costs have impacted consumers in recent weeks.
Key takeaways:
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The Russian-Ukraine war is partly to blame for the current surge in diesel prices. Other supply chain constraints that pre-date the war also contributed to this. They include, refineries downsizing due to the Covid-19 pandemic and a global commitment to climate change.
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While these factors aren’t particular to just Nigeria, other factors like a reduction in diesel supply by global refiners to Nigeria and limited access to FX by diesel marketers work together to make the situation particularly dire for the average Nigerian.
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Unfortunately, given the epileptic nature of the national grid, Nigerians are faced with a hard choice of reducing our diesel demand or keeping demand and paying the high price in the face of supply shortages.
It’s not just in Nigeria,
