The rising cost of living presents a formidable challenge for the people of Nigeria. However, this challenge is not unique to Nigeria. Globally, many countries are grappling with inflationary pressures due to a combination of geopolitics and the fiscal fallout from the COVID-19 pandemic. The conflict between Russia and Ukraine has disrupted food and energy supplies, while tensions in the Middle East exacerbate global oil price volatility. Countries such as the United Kingdom have experienced sharp inflationary spikes, Sri Lanka faced severe food shortages, and Argentina continues to endure hyperinflation. As Nigeria embarks on economic reforms—including the reduction of subsidy payment and the flotation of the Naira—these challenges must be mitigated through innovative strategies across the short, medium, and long term.