Audio By Carbonatix
Nigeria's President Bola Tinubu has formed a taskforce to come up with emergency solutions to try and fix the country's ailing economy.
The prices of food and fuel have shot up but many are struggling as their wages are not keeping up with the changes.
The severe economic difficulties have led to widespread hardship and mounted pressure on Mr Tinubu's administration.
Some have pointed to the government's dropping of the fuel subsidy and allowing the currency, the naira, to devalue as being among the causes of the problems. But the authorities have argued that reforming the economy is essential for the future of the country.
The president has directed the team to "submit a comprehensive plan of economic interventions" within two weeks, which will then be implemented over the next six months.
The taskforce is made up of key government officials and industry leaders.
The president also established the Presidential Economic Coordination Council (PECC) - which he will chair - to oversee the economic reforms.
Latest Stories
-
Emergency talks planned as Middle East tensions threaten Ghana’s fuel supply
3 minutes -
My biggest regret was not booking Bisa Kdei for a bigger venue – Akwaaba UK CEO admits
8 minutes -
African nations are each other’s keepers — Mahama urges leaders to protect future generations
9 minutes -
Use pulpits to confront corruption, poor governance — Christian Council urges prophets, religious leaders
16 minutes -
Daily Insight for CEOs: Monthly communication to CEOs
26 minutes -
Confidence level in Ayawaso East by-election poll is 95% – Mussa Dankwah, Global InfoAnalytics
27 minutes -
Mahama urges AU States to ratify African court protocol without delay
32 minutes -
Hopes and fears as US Iranians take to streets after toppling of supreme leader
39 minutes -
Deadly Texas bar shooting ‘potentially act of terrorism’, FBI says
39 minutes -
President Mahama urges Africa to forge its own path, warns against blindly emulating the west
40 minutes -
Ghana Industrial Trawlers Association demands urgent action on maritime security after fishermen were attacked at sea
53 minutes -
GIZ commissions state-of-the-art Bio-Instrumentation Lab for biomedical engineering students at University of Ghana
1 hour -
President Mahama calls for stronger support for African Court on Human and Peoples’ Rights
1 hour -
President Mahama urges renewed commitment to African Court on Human and Peoples’ Rights
1 hour -
Ghana is moving forward– Wonder Madilo credits Mahama for economic gains
1 hour