• Cost of living reaches all-time high
• Inflation rate escalates, defies economic principles
• Protest may enhance accountability, improve investment outlook
Nigeria’s economy, following weeks of youth protests, faces more economic risks in areas of unemployment, capital flight, and cost of living. Tension continues to build across the country as protests against bad governance and police brutality become widespread.
Tagged #EndSARS, the movement was to express youths’ disapproval of perceived societal anomalies. It was, however, hijacked by hoodlums, who, for days, dealt deadly blows on the bleeding economy — looting public and private facilities. This has kept youths and vandals on the streets halting business activities and free flow of movement in major city centres.
Experts project that the current situation could worsen the already compromised economy, evident in the rising cost of living as a result of inflation. Cost of…
Source: Guardian Newspaper