ABUJA, Feb 16 (NNN-AGENCIES) — Nigeria’s President Bola Tinubu is meeting state governors to discuss the crippling cost of living crisis.
One of Nigeria’s most influential traditional rulers, the Sultan of Sokoto, said the country was at a tipping point, because of the increasing struggle many Nigerians faced in buying basic foods.
He called on Tinubu to address the economic crisis sparked by his decision to cut fuel subsidies.
Nigeria, Africa’s biggest oil producer, had for years underwritten the cost of petrol, but following his election last year, Tinubu said the policy was unsustainable.
Higher transport costs have placed additional pressure on Nigerians and in recent weeks there have been protests over soaring food prices and the failure of wages to keep pace.
Unions have threatened strike action in the coming weeks. — NNN-AGENCIES