President Bola Ahmed Tinubu’s government has seven days, starting today, to halt Nigeria’s upward inflationary trend.
A Nigerian court on Wednesday ordered the Nigerian authorities to “fix” the prices of commodities to alleviate the suffering of Nigerians.
The economic situation in Africa’s largest economy became unbearable after Tinubu scrapped petrol subsidy on the day of his inauguration as president on May 29, 2023.
The policy triggered an upswing in food inflation and pushed up gas and transportation prices, resulting in a higher cost of living. Nigerians have started to protest the harsh economic realities that have persisted despite the government’s little interventions.
Justice Ambrose Lewis-Allagoa of a federal high court in Ikoyi, Lagos wants the central government in Nigeria to cut down the prices of bicycles and spare parts; flour; matches; milk; motorcycles and spare parts; motor vehicles and spare parts; salt; sugar and petroleum products, including diesel, premium motor spirit, and kerosene.
—Ezinwanne Onwuka reports for TruthNigeria from Abuja.