Nigerians lament coronavirus budget crunch as fuel and electricity prices soar
16 September 2020 |
7:20 am
Nigerians lament an increase in prices after the oil-rich nation dumped a controversial petrol subsidy system in the face of a coronavirus budget crunch. Authorities announced an end to the subsidies earlier this year, as falling oil prices robbed Nigeria of a major chunk of its revenues. Increasing the pain for average Nigerians, the government has also almost doubled the cost of electricity from 33 to more than 60 naira per kilowatt. The manager of a printing and embroidery company describes the impact these changes will have on his production.
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