Oler Oladele: Nigeria’s Inflation Driven By External Pressures As Fuel, Food Costs Rise
Founder of The Money Wit Club, Oler Oladele says Nigeria”s inflation is driven by external pressures, with fuel and food costs rising
Founder of The Money Wit Club, Oler Oladele says Nigeria”s inflation is driven by external pressures, with fuel and food costs rising
Founder of The Money Wit Club, Oler Oladele, has said that Nigeria’s rising inflation reflects external economic pressures, pointing to fuel costs and supply chain challenges as key drivers of recent price increases.
Speaking during an interview with ARISE NEWS on Saturday, Oladele explained that the uptick in inflation, which rose to 15.69% in April 2026, is being heavily influenced by global and domestic cost pressures filtering into food prices.
“So what we need to understand here is that this reflects external developments,” she said
She stated that food inflation has been driven higher by rising staple prices and further worsened by increasing logistics costs across the supply chain.
“What we see is that food inflation has risen. It was initially driven by a slight increase in staple prices, but was later worsened by logistics costs,” she explained.
Oladele further linked the inflationary trend to global energy market dynamics, particularly rising oil prices and their impact on domestic fuel costs.
“We see that oil prices are up, and fuel prices are almost twice what they were last year,” she said.
According to her, these external cost pressures are still filtering through the economy and are likely to persist until global conditions stabilis
“So what we are currently seeing is the effect of that, which will continue until external factors begin to ease,” she added.
On monetary policy, she suggested that the inflation outlook could strengthen expectations that the Central Bank of Nigeria will keep interest rates unchanged at its next policy meeting, given the prevailing macroeconomic conditions.
She concluded that macroeconomic factors remain central to Nigeria’s inflation trajectory, with external shocks continuing to influence domestic price levels.
