Russia's invasion of Ukraine quickly extinguished the glimmer of hope seen after the Covid-19 pandemic. This has forced some states to resort to the International Monetary Fund (IMF) in order to support their economies.

West African countries have continuously been on the brink in 2022. The economic recovery came to an abrupt end, like everywhere else in sub-Saharan Africa, because of the Russian-Ukrainian war. The surge in hydrocarbon prices, following this conflict, has caused unprecedented inflation almost everywhere in the world. The economies of the region have not escaped this generalized price surge. They are very extroverted and highly dependent on imports, especially basic necessities.

The global inflation rate, calculated on an annual basis, was 21.47% in November 2022 in Nigeria, the country that is the leading economic power in the region and the continent. For its part, the overall inflation rate in November 2022 was 1.39%, which is 0.15% higher than the rate recorded in October 2022 (24%) on a monthly basis.