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Vol 64 No 17

Published 24th August 2023


Pushback tests Tinubu's tilt to the market

Anger on the streets is mounting in the wake of spiralling food and fuel

Hailed by bankers and foreign investors, President Bola Tinubu's decisions to end fuel subsidies and float the naira have collided with reality. The measures are fuelling the highest inflation for almost two decades and the government's mooted palliatives are falling short of its promises. It started when Tinubu delivered his inaugural speech on 29 May, ending the fuel subsidy which was costing about US$800 million a month.

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