Opinion by JuliusOgunro: The price of bread via thecableng
the grocery store around my house. I was at first incredulous and thought the shopkeeper had made an error calculating my change but she insisted that was not the case and that the price of the loaf, the particular brand my family is fond of, had increased from N800 to N1,000 a few days back.
The steep rise in the price of bread and the reactions of my Facebook friends are emblematic of the economic hardship Nigerians face and the creative, sometimes hilarious, ways they respond to it. Since 2016, Nigeria has experienced double-digit inflation, with each succeeding year often worse than the previous one. This year has been particularly bad. Since April, the country’s inflation rate has been above 20 percent: 22.2 percent in April, and 22.04 percent in May.
The Buhari administration is noted for policies such as the border closure, currency redesign, School Feeding Programme, Anchor Borrowers Programme Trader Moni, the Treasury Single Account, the N-Power, Conditional Cash Transfer, and many others, which span the administration’s focal areas of anti-corruption, Infrastructural development, social investment, economic diversification, security, and counter-terrorism.
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