Nigeria’s economy is in a dire state, with soaring prices causing immense hardship. The Nigeria Labour Congress organized protests demanding government action.
Basic necessities like petrol and rice have become unaffordable for many. Despite this, the minimum wage hasn’t increased in years.
President Tinubu’s reforms, including ending fuel subsidies and currency pegging, have worsened the situation.
The value of the naira has plummeted, making imports expensive. While the government is trying to alleviate suffering through food distribution and cash transfers, challenges persist.
This complex economic crisis demands urgent attention and innovative solutions.
(Based on BBC News)
https://www.bbc.com/news/world-africa-68402662