For Africa’s most populous economy, the surge promised a fiscal windfall. For households and businesses, it delivered higher fuel costs, rising transport fares and a widening cost-of-living squeeze. The same oil rally that inflates government revenues tightens pressure on ordinary Nigerians.
As Olugbenga Olaoye, an energy economist and member of the United States Association for Energy Economics, puts it:
“Higher oil prices improve government earnings, but they also increase costs across the economy. The fiscal side may look stronger, but
