For much of the past three years, Nigeria’s economic debate has centred on a few key prices: petrol, foreign exchange, electricity, and the cost of borrowing. Since 2023, government reforms have altered each of them significantly. Fuel subsidies were removed, the exchange rate was liberalised, electricity tariffs for some consumers increased, and the Central Bank pursued one of its most aggressive monetary tightening cycles in decades. These reforms sought to correct long-standing distortions and restore market signals. They changed how reso
For much of the past three years, Nigeria’s economic debate has centred on a few key prices: petrol, foreign exchange, electricity, and the cost of borrowing. Since 2023, government reforms have altered each of them significantly. Fuel subsidies were removed, the exchange rate was liberalised, electricity tariffs for some consumers increased, and the Central Bank pursued one of its most aggressive monetary tightening cycles in decades. These reforms
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