Nigeria is heading towards the “light at the end of the tunnel” as the country grinds through the second year of a cost-of-living crisis, President Bola Tinubu said Friday.
The West African heavyweight has been beset with soaring inflation after Tinubu, elected in 2023, scrapped a costly fuel subsidy and liberalised the exchange rate for the naira currency.
Though the government and international institutions such as the International Monetary Fund have said the reforms were much needed, ordinary Nigerians are going through the worst economic crisis in a generation.
“The past year tested our resolve but through the economic discipline and strategic reform, we achieved what many deemed impossible,” Tinubu said, while signing this year’s 55.99-trillion-naira ($37-billion) budget.
GDP figures released this week showed the Nigerian economy grew at 3.8 percent in the fourth quarter of…
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