The protest is more than a clamour for an end to police brutality, but rather to growing frustration about the state of the economy.
The hike in electricity tariff is considered ill-timed by many especially in the face of hikes in fuel price and value-added tax.
IGR of the 36 states of the federation and FCT declined by 12% y/y to N612.87bn in H1 2020 from N693.91bn in H1 2019.
The NNPC boss disclosed that plans were underway to end the oil-for-fuel swap system in the nearest future.
Many stakeholders hold strongly that new investments in the oil sector is dependent on the passage of the PIB.
The start up of refineries will attract , enhance employment opportunities and conserve the foreign exchange earnings of the country.
The economy continues to face severe dollar shortages due to lower oil receipts which continues to pressure the nation’s FX reserves.
The government may need to review the protectionist measures in place in order to avert a food crisis.
The telecommunications sector remains one of the fastest-growing sectors in Nigeria’s ailing economy.
Despite the actions of the CBN, growth in the sector is yet to show a remarkable improvement.