Subsidies Removal: World Bank estimates that more than 7 million Nigerians may fall into extreme poverty.
If the federal government doesn't offer temporary solutions after fuel subsidies are eliminated amid the current economic difficulties, at least 7.1 million Nigerians could fall into extreme poverty. This information was released by the World Bank on Tuesday in Abuja in the Nigeria Development Update for June 2023. President Bola Ahmed Tinubu implemented some economic policies upon taking office, including the elimination of fuel subsidies and the unification of the foreign exchange window, which increased the cost of transportation as well as the prices of goods and services. Insecure households will lose at least 5,700 in monthly income if no…
