Cost of Living Crisis: Nigeria, Others Risk Social Unrest – AfDB

The African Development Bank (AfDB) has warned that Nigeria, Ethiopia, Angola and Kenya risk social unrest owing to the rising prices of fuel and other commodities.

The AfDB gave the warning in its macroeconomic performance and outlook for 2024 wherein it projected the continent’s economy to grow higher than the 3.2 per cent recorded in 2023.

Nigerians, in some states, including Kano, Niger, Lagos and few others, had protested against the cost-of-living crisis in the country, which is largely blamed on the federal government’s policies of the petrol subsidy removal and floating of the naira.

You do recall, the Sultan of Sokoto and chairman of the Northern Traditional Rulers Council, Muhammad Sa’ad Abubakar III, had on Wednesday at the 6th Executive Committee meeting of the Northern Traditional Rulers Council in Kaduna, warned that with millions of Nigerian youths left without jobs and food, the country was sitting on a keg of gunpowder.