Di International Monetary Fund, IMF, don warn say Nigerians fit face worse economic condition for near future as cost of food and transport continue to increase, wey dey squeeze wetin families fit buy, as global wahala still dey persist.
Di fund also warn say Nigeria debt go increase, as di country crude oil price sell pass $113 per barrel for international market yesterday, wey give fresh hope say government go get more money.
Di increase for oil price come as uncertainty still dey ground di peace talk between United States and Iran concerning di Middle East war, wey fit make Nigeria dey earn plenty money from oil for long time.
For current level, Nigeria crude dey sell about $53 per barrel above di $60 benchmark for 2026 Budget. Data from oil market show say Brass River and Qua Iboe grades sell for $113.82 and $113.72 per barrel, respectively.
Oil price wey start di year at about $64.85 per barrel and rise reach $68.05 by end of January, don increase plenty as geopolitical tension dey high.
Analysts say Nigeria fit earn plenty oil money from di crisis as long as di fighting continue.
Di director of African Department for IMF, Abebe Selassie, for one press conference on Economic Outlook for Sub-Saharan Africa, during di ongoing Spring Meetings of World Bank/IMF for Washington DC yesterday, talk say di effect of di ongoing crisis don already affect di whole region well well, including Nigeria, with serious pressure on cost of living.
According to am, “Di immediate effect go be serious pressure, including for food security, either through limited availability of fertilizer, expensive fertilizer, or even more direct as transport cost don increase, e go make food price increase and cause plenty wahala.
“We don already see plenty increase for transport price wey people dey face. Transport cost dey very high for people for city areas, and even worse for rural areas.”
As e dey show how families dey suffer more, Selassie talk say: “We don already see say di crisis dey pinch people well well. E dey make life hard for people.”
