The economic logic of the subsidy cuts, devaluation and other reforms enacted after President Bola Ahmed Tinubu took over on Aso Rock in mid-2023 was clear: the fuel subsidy alone was costing some $10bn/yr, risking state insolvency.
But the consequences of Tinubu’s reforms have caused immense difficulties for a majority of Nigeria's estimated 226m population, as the price of staples soars.
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