Nigeria recorded the highest percentage increment in fuel price in the last one week as a result of the Iran War. Expectedly, some who saw the post as an attack on the hard working federal government started sharing latest indices to counter mine, which I got from The Cable.
I also claimed that Nigeria has had more upwards price adjustments than any other country in the world within the last two weeks. Nobody has shown up with a counter narrative to that. Now let’s have a deeper dive into this issue.
First, according to The Cable, Nigeria has had an increment band between 39.5% – 40.5% as a result of the point I alluded to above.
Those who countered my earlier assertion came up with numbers from other countries such as Vietnam that recorded a 50% increase.
Laos that had a 32.9% – 33% increase. Australia with a 31.8% increase. Cambodia with a crazy 68% increase, and the United States with a 23.6% increase.
Of all the top 10 countries that recorded the highest fuel price increment globally only Nigeria is a member of OPEC. Do you know what this is telling us?
Only two OPEC member countries recorded price increment. One is Nigeria at 39%, the other is UAE ( where missiles and bombs are dropping), yet theirs is 6.4%. Nigeria is the only OPEC member with a double digit percentage increment. If you don’t get the drift, no problem.
When we talk of spike in fuel prices, different countries experience it differently and the increments affects the people on several levels. Inability to connect this dots is the reason many of you hardly appreciates the challenges of being a Nigerian.
While others worry about just fueling their cars, Nigerians worry about more than fueling their cars. The man who doesn’t own a car worry about high transport costs because we don’t have a structured public transportation system that cushions the effects of such rise in fuel price on the people.
The average Nigerian worries about fueling his small generator because he provides his own electricity. The small business owner worries about keeping his shop open at a very exorbitant cost due to high fuel costs.
Those who came to counter my position do not know that Vietnam, a country or 101 million people generates 80.555 Mega Watts of electricity.
They do not know that Laos, a country 7 million people is self sufficient in electricity production with 95% access to the general population, and that Laos exports electricity to neighbouring Thailand, Cambodia and Vietnam. Cambodia with a population of 17 million produces 6000 Mega Watts of electricity.
That all these countries we are dragging the position for highest price increment with, have no business with generators. They are not suffering from the same electricity problems that Nigeria bestows on you.
Also see: Minister Apologises Over Severe Electricity Shortages
That’s why I don’t even have time with some Nigerians in the diaspora who jump around yapping that they too are experiencing price hike in fuel.
They can afford to park their cars and use the city bus or metro to to go work or move around. They are not losing sleep over electricity supply, they don’t provide their own electricity.
They do not know that 80% of Nigerians living in Nigeria depend on electricity for water. That without power they can’t pump water due to the absence of potable water supply in the country. And without water they can’t survive.
They do not understand the intricacies of the fine lines of interconnectedness between multidimensional poverty, prebendalism, misgovernance, and infrastructural decay.
They do not understand the concept of unaccounted costs that emanate from inefficiencies, or indirect environmental/social impacts such as living in grossly underdeveped spaces.
They hardly appreciate how expensive underdevelopment is and the invisible taxation that comes with it as a result of structural disadvantages, or systemic inefficiencies that disproportionately affect individuals, businesses, and developing economies.
Yes, you are also experiencing higher inflationary rates, but the impacts of inflation on the poor functions as a cruel tax. Everything is connected to everything.
Kelechi Deca
