Money Matters Ep 76: Nigeria’s unfolding energy crisis and its impact on the economy


The lingering crisis between Ukraine and Russia has led to an unprecedented rise in cost of crude oil. InNigeria, the cost of diesel has more doubled leading to depleting profit margins for business owners. It has also led to high production cost for manufactures alike. Besides diesel, Aviation fuel has also risen to N607 per litre in some airports in the country. This is the second time the price of the product would rise astronomically in one week.Electrical power supply also took a hit, as TheTransmission Company of Nigeria (TCN) blamed poor gas supply, fault in generating units of generating companies as well as scheduled and unscheduled maintenance, for poor power generation.


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