Nigeria is facing its worst economic crisis in decades, with skyrocketing inflation, a national currency in free-fall and millions of people struggling to buy food. Only two years ago Africa\u2019s biggest economy, Nigeria is projected to drop to fourth place this year.<\/p>\n\n\n\n
The pain is widespread. Unions strike to protest salaries of around $20 a month. People die in stampedes, desperate for free sacks of rice. Hospitals are overrun with women wracked by spasms from calcium deficiencies.<\/p>\n\n\n\n
The crisis is largely believed to be rooted in two major changes implemented by a president elected 15 months ago<\/a>: the partial<\/a> removal of fuel subsidies and the floating of the currency, which together have caused major price rises.<\/p>\n\n\n\n A nation of entrepreneurs, Nigeria\u2019s more than 200 million citizens are skilled at managing in tough circumstances, without the services states usually provide. They generate<\/a> their own electricity<\/a> and source their own water. They take up arms and defend<\/a> their communities when the armed forces cannot. They negotiate with kidnappers<\/a> when family members are abducted.<\/p>Read it all<\/a>. Nigeria Confronts Its Worst Economic Crisis in a Generation , with skyrocketing inflation, a national currency in free-fall and millions of people struggling to buy food https:\/\/t.co\/umLRRrmPTv<\/a><\/p>— Xavier Delcourt (@x_delcourt) June 12, 2024<\/a><\/blockquote>