The Nigerian government announced good news to the people suffering from inflation, free grain and increase in salaries from the government.
A foreign news agency According to the report Nigeria, an African country rich in petroleum and natural gas reserves, will provide facilities to its people to overcome the economic crisis and reduce the impact of rising petrol prices.
In this regard, the Vice President of Nigeria has issued a statement that the government plans to distribute free grain, fertilizer and increase the salaries of civil servants from next Monday. The aim of this move is to reduce the effects of the removal of subsidy on petrol, due to which the country’s economy is going through a severe crisis.
The distribution of grains and fertilizers will be done through the central bank, the spokesperson said in a statement, adding that state governors have also supported the plan.
It should be noted that last week, the Nigerian Senate approved a request by President Bola Tinubu to borrow $800 million from the World Bank to help deal with rising fuel prices after President Bola Tinubu stopped major petrol subsidies in May.
Yesterday, the price of petrol in Nigeria reached 617 naira ($0.78) per liter, which is said to be the highest price ever. Because of this subsidy, prices remained stable for decades, but later on, food prices became increasingly expensive.
Labor unions, on the other hand, have criticized the government for removing petrol subsidies without taking concrete steps.
It would be recalled that Nigeria’s central labor unions and the government had in June set an eight-week timeline to finalize an agreement on the minimum wage hike for civil servants.
Nigeria is Africa’s largest oil producer importing almost all of its refined fuel due to insufficient refining capacity and neglect of existing refineries.
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