As anticipated, Nigeria’s new president Bola Ahmed Tinubu has jettisoned the fuel subsidy, which is estimated to cost the Nigerian treasury about US$10 billion annually. This is about 24% of Nigeria’s 2022 budget. Fuel subsidies have been in place in Nigeria since the 1970s. They began with the government routinely selling petrol to Nigerians at […]
losers, winners and a possible solution
Recent inflation numbers from Nigeria are creating serious concern over the rising cost of food items in the country. But this is not Nigerians’ first encounter with food prices running hot, as the spikes date back roughly two decades. Between January 2003 and August 2021, the food inflation rate has raced to three major peaks. […]