Hard times in Nigeria as reforms deepen cost of living crisis
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GUEST - Victor Kgomoeswana - Africa expert
Nigeria is currently experiencing its worst economic crisis in a generation, leading to widespread hardship and anger. A litre of petrol costs more than three times what it did nine months ago, while the price of the staple food, rice, has more than doubled in the past year. These two figures highlight the difficulties that many Nigerians are facing as wages have not kept up with the rising cost of living.
Like many nations, Nigeria has experienced economic shocks from beyond its shores in recent years, but there are also issues specific to the country, partly driven by the reforms introduced by President Bola Tinubu when he took office last May.
Nigeria is currently experiencing its worst economic crisis in a generation, leading to widespread hardship and anger. A litre of petrol costs more than three times what it did nine months ago, while the price of the staple food, rice, has more than doubled in the past year. These two figures highlight the difficulties that many Nigerians are facing as wages have not kept up with the rising cost of living.
Like many nations, Nigeria has experienced economic shocks from beyond its shores in recent years, but there are also issues specific to the country, partly driven by the reforms introduced by President Bola Tinubu when he took office last May.
