This time last year, the mood in Nigeria was one of unbridled optimism. President Muhammadu Buhari had completed just over a month in office and the countrymen were hopeful, emboldened by his anti-corruption rhetoric. A year later, the honeymoon is over and the difficulties of Nigeria’s economy and political situation have resurfaced in Africa’s most populous country. This has especially been the case for the oil sector, which the nation’s budget depends heavily on, as it was hit by the slump in prices and domestically by slow reforms, renewed militancy and large-scale theft from pipelines. The fall in Nigerian oil output has also coincided with a fall in tomato production. This has led to a major shortage of what is the main staple in Nigerian cuisine, and epitomizes the multi-thronged crisis the country is in. Nigeria has been through renewed militancy before, and there is no reason why it cannot overcome it again. But with its oil industry in dire need of money and reforms, the tomato shortage is only making matters worse. Nigerian oil output slumped close to 30-year lows of 1.4 million b/d in May as militant attacks intensified in the Niger Delta, with the emergence of a
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Source: CTRM Center