Nigeria: Currency reform deepens socio-economic crisis
The devaluation of the Naira against the dollar has plunged Nigerians into a deep socio-economic crisis. The price of basic foodstuffs can double or even triple in the same day. While 98 million Nigerians were already living in extreme poverty in recent years, this figure could explode by 2024 if the crisis continues. For tens of millions of Nigerians, the reforms designed to attract foreign investors have, above all, caused the cost of living to soar.
The devaluation of the Naira against the dollar has plunged Nigerians into a deep socio-economic crisis. The price of basic foodstuffs can double or even triple in the same day. While 98 million Nigerians were already living in extreme poverty in recent years, this figure could explode by 2024 if the crisis continues. For tens of millions of Nigerians, the reforms designed to attract foreign investors have, above all, caused the cost of living to soar.
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