The removal of fuel subsidies in May 2023, exchange rate unification, and fiscal policy adjustments represent imperative steps toward macroeconomic stability; yet their immediate impact has been severe, with inflation reaching 34.8 percent by December 2024 and poverty rate rising to 47 percent.
The Nigerian experience und
Nigeria’s economic reforms under President Bola Tinubu’s administration exemplify the global challenge of implementing necessary structural changes without being unmindful of minimising their therapeutic pains on citizens.
The removal of fuel subsidies in May 2023, exchange rate unification, and fiscal policy adjustments represent imperative steps toward macroeconomic stability; yet their immediate impact has been severe, with inflation reaching 34.8 percent by December 2024 and poverty rate rising to 47 percent.
The Nigerian experience und