Austerity Measures: Dollar Rises To 180 Naira! Suffering Ahead For Nigerians

Dr Brimah Protests


Nigerians who did not enjoy when oil was sold high in the market but rather had more numbers becoming destitute: totaling 100 million living under a dollar a day during the Jonathan administration; are bracing for more suffering as the government has instituted austerity measures leading to dollar shooting up from N170 /$ to N180/$ in the past week.

During the times of surplus, the Nigerian government officials and cabal friends looted hundreds of billions of dollars directly from oil revenue sales, the Diezani kerosene subsidy scam and other schemes, rather than saving in the nation’s external reserves and building a powerful economy and now here comes the hardship.

It has been asked whether at the very least, Nigerians will benefit a bit from the drop in oil prices with relief at the pump if Nigeria sells gasoline at lower price due to the lower price the commodity is now being sold with expected drop in price of refined product.