Nigerians’ cost of living pain deepens as election looms
The health NGO worker’s 135 000 naira ($99) monthly salary is nearly double the country’s minimum wage, but she said life keeps getting tougher as her salary fails to keep pace with rocketing costs.
Living standards for millions in Africa’s largest oil exporter have crumbled in the past three years as the government of President Bola Tinubu pushed through painful reforms, including fuel subsidy removals, naira devaluation and electricity subsidy cuts.“This is the most positive investors have been about Nigeria probably in the last two decades,” said Thys Louw, portfolio manager at investment firm Ninety One.
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