2023-08-01 08:57:01
Nigerian President Bola Tinubu has announced several measures once morest the cost of living, including the release of 200,000 tonnes of grain following massive food looting in the northeast of the country.
Since his inauguration at the end of May, the Head of State has taken a series of economic measures aimed at reviving THE long-term investments, but with severe effects on household wallets, deepening poverty in Africa’s largest economy.
No other solutions
Last month, the president notably ended fuel subsidies, quadrupling gasoline prices, and indirectly driving up food prices. “The price of fuel has gone up. Food and other prices followed. Households and businesses are in difficulty,” he acknowledged in a speech broadcast on television on July 31. “I wish there were other solutions. But this is not the case. »
To “reduce the burden” of the economic crisis, Bola Tinubu promised the less €240 million for the agricultural sector, €150 million for SMEs and €90 million for the manufacturing sector. “I (also) ordered the release of 200,000 tons of grain from strategic reserves,” he said, eager to explain his decisions, a style that contrasts with that of his predecessor Muhammadu Buhari.
On July 30, a total curfew was imposed in the state of Adamawa (northeast) where hundreds of residents engaged in massive looting of shops and public food storage warehouses, announced the local authorities. In mid-July, Bola Tinubu announced a “state of emergency on food security”, promising massive investments in agriculture, and money transfers to plus poor.
(With AFP)
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