Sixty-four years after Independence, Nigerians are perplexed by the lavish lifestyles of the political elite in contrast to the daily struggles of the majority who eat from hand to mouth.
Despite being Africa’s biggest oil producer, the nation is grappling with an economic crisis, marked by high inflation, unemployment, and multidimensional poverty. Yet, government officials continue to indulge in luxurious spending, seemingly disconnected from the sufferings of ordinary citizens.
A Nation in Economic Crisis
Nigeria’s economic woes are deepening. Inflation has surged to record highs despite slowing for the second consecutive month to 32.15 percent in August 2024. Food inflation, which makes up over half of the total, stood at 37.52 percent.
