2023-07-18 14:30:58
In Nigeria, the first measures taken by the new president to revive the economy pleasantly surprised investors. But among households, they are hard felt. Evidenced by the inflation figure published yesterday, Monday, July 17, which continues to climb.
It peaked at 22.7% in June, slightly above May. The radical reforms carried out over the past six weeks by Bola Tinubu have therefore not yet improved the daily lives of Nigerians. On the contrary, they have undoubtedly aggravated the surge in prices. The new president is well aware of this and has been focusing for the past few days on social emergencies.
Friday, July 14, he declared a state of food emergency because the prices of basic foodstuffs are soaring even faster than the others. Thanks to an envelope from the World Bank, he also announced a monthly aid of 10 dollars for six months in favor of the 12 million households among the poorest to counterbalance the doubling, or even the tripling, of fuel prices since the elimination of all subsidies. It was one of the very first decisions he made, a very painful step in a country where 40% of the 220 million inhabitants survive in a state of great poverty.
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