The Nigerian government has implemented a significant increase in electricity tariffs, raising them by over 300% for consumers who utilize relatively large amounts of energy, such as businesses and households in high-end neighborhoods. However, amidst this adjustment, complaints have arisen from Nigerians who do not fall into these categories, as they have observed their bills also experiencing a surge.
This development comes at a challenging time for many Nigerians, as they grapple with managing shrinking purchasing power and eroded savings. Nevertheless, the government has reassured citizens that its economic measures and policies are designed to eventually stabilize the economy.
Meanwhile, the national currency, the naira, has depreciated significantly, currently exchanging at 1,140 to $1.
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