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Published 2 months ago

Nigeria’s currency has fallen to a record low as inflation surges. How did things get so bad?

  • Nigeria is experiencing a severe economic crisis due to inflation and monetary policies, leading to currency devaluation and protests.
  • There is a significant rise in inflation to 29.9% in January, driven by food prices, and the currency has lost 230% of its value in a year.
  • President Bola Tinubu has taken steps to address the economic challenges, including ending gas subsidies and releasing food items from government reserves.
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