Nigerias Economy Shows Signs of Resilience Despite Ongoing Cost of Living Crisis

Nigerian states must pay minimum wage with arrears following a prolonged economic downturn that has exacerbated the country's cost of living crisis. Inflation stands at 34.6% as of November, highlighting the severity of the situation.

Nigeria's economy continues to grapple with a weak performance that has been ongoing for nearly two years, exacerbating the country's crippling cost of living crisis. As inflation reached 34.6 percent by November, many Nigerians are struggling to make ends meet. In light of this economic strain, the government has reiterated its requirement that states pay their minimum wage arrears in full, emphasizing the need for fiscal responsibility and stability. This move aims to stabilize the economy and alleviate the suffering of millions affected by the high inflation rate.