Thousands of Nigerians protest soaring costs

Market & Price Trends
Innovation & Technology
Published Feb 28, 2024

Tridge summary

Nigeria is experiencing its worst economic crisis in a generation, leading to nationwide protests organized by the Nigeria Labour Congress (NLC). The government's reforms, including ending a fuel subsidy and currency controls, have led to skyrocketing inflation, reaching a 30-year high of almost 30% in January. This has severely impacted citizens, causing many to skip meals and give up certain products. Over 1,000 demonstrators marched on the National Assembly in Abuja, demanding an end to the devaluation of the naira.
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Original content

Thousands of Nigerians rallied against soaring living costs on Tuesday as the worst economic crisis in a generation leaves many struggling to afford food. Demonstrators hoped nationwide protests called by the Nigeria Labour Congress (NLC) umbrella union would pile pressure on the government, which brought in reforms last year that have had a devastating effect on citizens of Africa's biggest economy. As inflation skyrockets, many poor Nigerians have had to skip meals and give up products now considered a luxury, such as meat, eggs and milk. Over 1,000 demonstrators marched on the National Assembly in the capital Abuja, watched over by vigilante groups and armed police. The protesters chanted and carried signs saying "Let the poor breathe" and "End naira devaluation". "The government needs to wake up," said protester Roland Bamiche, who works for a hospitality union. "People are dying, people are suffering, people are going through hell," the 45-year-old said. "The high cost of ...
Source: Modernghana
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