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What is the main reason behind Nigeria’s economic crisis? | Business and Economy

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Jun 4, 2024

Nigeria, with its large population and status as one of the top oil producers in the world, is currently at a standstill due to a general strike demanding higher wages. The country has faced challenges such as corruption, economic mismanagement, and a weak currency, which have contributed to the current situation.

The strike, led by union leaders seeking a higher minimum wage, is shining a light on the struggles faced by Nigerians. President Bola Tinubu’s recent reforms are being blamed for exacerbating the situation, leading to widespread unrest and disruption.

The strike has caused the shutdown of the national electric grid and several airports, prompting questions about whether the government will change its course on the wage issue. Can this pressure from the people force a change in policy and address the economic challenges facing the country?

On a recent episode of the program, host Cyril Vanier discussed the strike and its implications with guests Khalil Halilu, CEO of Nigeria’s National Agency for Science and Engineering Infrastructure, Amaka Anku, head of the Africa practice of the Eurasia Group, and Hamzat Lawal, anti-corruption activist and founder of Connected Development, a civil society organization. Each guest provided insights into the situation and the potential outcomes of the strike.

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