Diesel prices have surpassed ₦2,000 per litre in some parts of Nigeria, leading to concerns about broader economic effects. Many manufacturers depend on diesel-powered generators for factory operations, so higher energy costs are increasing production expenses. This explainer examines how the rising cost of diesel could affect transportation, food prices, and everyday goods, ultimately impacting what Nigerians pay. It also explores why diesel is becoming so expensive in an oil-producing country and how long businesses can absorb these costs.
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