Posted 3/17/2024, 6:53:20 AM
Nigerians Struggle Under Soaring Prices and Economic Hardship After Subsidy Cuts
- Cost of living has soared in Nigeria since subsidy removal, with inflation hitting 30% and prices of goods like food and transport tripling
- Government has introduced palliatives like conditional cash transfers, subsidies for farmers and small businesses, but these have not eased hardship
- Protests have broken out across Nigeria over high costs, with unions threatening strikes over poor economy
- Experts criticize government's policies as inadequate and directionless, say Nigeria must invest in power, agriculture, and engage technocrats
- Hardship will get worse without dramatic action, risking unrest and tenants' inability to pay rent due to minimum wage lagging costs