Nigerians may be wondering whether the year 2025 will bring the “renewed hope” promised by the President Bola Tinubu administration – or whether they are in for another year of economic despair.
Nigerians are facing unprecedented economic challenges, arising from the removal of fuel subsidies. This has raised the price of petrol by nearly 500% within one year.
What’s more, the liberalisation of the foreign exchange market resulted in an over 100% depreciation in the value of the domestic currency between October 2023 and October 2024.
