Subsidy removal, cash scarcity, other events that shaped Nigeria’s economy in 2023

The price change led to a revision of the pricing structure across goods and services, with transportation costs rising as much as 200 – 300 per cent higher.

A spill-over from 2022, Nigerians will not in a hurry forget the harrowing experience of the cash scarcity brought about by the naira redesign policy of the then Godwin Emefiele-led Central Bank of Nigeria (CBN).

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