Nigeria, hard times and cacophonous tunes

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IF reports emanating from the grapevine are anything to go by, then, interesting times beckon in 2022. Barring any unforeseen circumstances, the Nigerian government is expected to fully remove the “unsustainable and economically disingenuous” fuel and electricity subsidies next year. In simple terms, the dreaded full deregulation of the oil and power sectors will most likely take effect next year, to pave the way for “market-based”, “cost-reflective” pricing mechanisms. However, government is said to be ‘forgivingly’ planning a “well-targeted” N5,000-a-month social intervention scheme to cushion the biting effects of poverty on about 40 million vulnerable…



Source: Nigerian Tribune

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