The removal of the gasoline subsidy, which had been in place for decades and kept the price of petroleum products low, was Mr. Tinubu’s first significant policy change after becoming government.
In some areas of the nation, its elimination has resulted in rises of up to 200%, but the new president has defended the action, stating that it is critical to utilize that money more wisely.
Since many Nigerians rely on generators to provide them with energy, the increase in fuel prices has a negative impact on the country’s economy.
The Association of Master Bakers and Caterers of Nigeria recently issued a 15% price increase warning for bread.
Some households have admitted to BBC Pidgin that they are unable to purchase bread.
Mallam Ado Yahaya from the northern state of Kano said, “My monthly pension cannot cover the cost of buying bread every day so we have switched to another more affordable food.”
Through a program called the National Safety Net Programme, 12 million households will now receive a new monthly stipend in addition to the $6 they currently receive from another effort started by the previous administration.
Although the statement was vague about numbers, it is likely that these more disadvantaged individuals have access to the grain and fertilizer supplied to farmers.
