World Bank wants Nigeria to maintain the fuel subsidy removal. What made me posted that topic is because I noticed people in my neighborhood do not on generator again. It started when Tinubu removed fuel subsidy. IMF said inflation in Nigeria will reduce. World Bank said that it is good how fuel and electricity subsidy are removed. They do not know what is going on in the Nigerian.
It is easy to know that standard of living in Nigeria has reduced significantly. Inflation continues as the prices of good and services are increasing. I saw this today which I think is worth discussing about on this forum.
Like seriously, things have changed in our today's Nigeria. Life is not longer as luxurious as we used to have it before and the standard of living have not increased, rather it is depreciating with the abrupt change of the economic dynamics in the country. The peak of all of these things is the fuel subsidy removal which brought about the rapid increase of fuel pump prices across the country and inflation rate of many commodities rising by 400% percent or within range.
To say people weren't prepared for this is the least, however these are changes we need in the country to be able to face the economic realities burdening us for long. My problem is, what's the sustainability of these policies, in terms of human factors and the road map to these reforms have not been clearly stated which means people might just end up sacrificing for nothing in the end and that's my fear.
