Nigeria’s cost of living crisis is heaping misery on the citizens with inflation soaring amidst failing efforts by the monetary and fiscal authorities to stabilise the national currency’s exchange value and to review workers’ wages.
Rising prices have taken many essential items, including food and housing, beyond the reach of millions of citizens across the country, as highlighted by a PREMIUM TIMES’ market survey in Minna, Niger State.
In April, Nigeria’s inflation rate surged to 33.69 per cent, according to the National Bureau of Statistics (NBS) marking the 11th consecutive increase on President Bola Tinubu’s watch. The 0.49 per cent increase over the figure recorded in March is the highest since 1999 and the fourth-highest since Q1 1996.
