In the aftermath of the coronavirus recession, the world has been left to face an energy crunch time as the supply of natural gas, coal, and other energy sources fail to adequately satisfy the ramped-up demand. Since energy prices affect economic decisions across the supply chain, the rise in prices has had a significant impact on economies with many companies in Europe, Asia, and Africa shutting down, unable to bear high energy costs.

Semiconductors are the foundation of advanced technologies, The shortage in its supply is hamstringing the production of products ranging from cars and computers to all smart appliances and might extend into 2022 and potentially beyond, as reported by experts in the semiconductor industries.

The cost of moving shipping containers around the world has ballooned because of sudden shifts in demand during the pandemic. It is accompanied by a rise in both air and water freight fees.

It is no longer news that the Dollar to Naira value is not stable, and even the apex finance body couldn’t avoid the constant degradation, hence the persistent increase in the price of goods.

Considering most of Smartflow’s products are sourced from Original Equipment Manufacturers (OEMs) across the globe, the steep increase in input costs will lead to an increase in prices and possibly longer lead times going forward. We advise all our clients to plan proactively and order well in advance of any major requirement, whilst taking into consideration possible future price increase.

If you are planning for any major projects where our products will be required please get in touch with our representatives to support you with the right pricing and stock availability.

Smartflow is involved in the supply, installation, and support of fueling and non-fuel systems and equipment, call us on 08125120366, 09018045354 and 07015825689 or send an email to sales@smartflowtech.com to contact us.