Rising Cost of Living in Nigeria Causes Public Discontent
Latest Tanzania economy news · Rising Cost of Living in Nigeria Causes Public Disconte… explained · updated Aug 22, 2026 · economy news · GDP · investment
TLDR
- Campaigns for the upcoming presidential election in Nigeria began this week, with elections scheduled for January 16, 2027.
- President Bola Tinubu, who took office in 2023, is seeking a second term amid ongoing challenges such as youth unemployment, poverty, and poor infrastructure.
- Research by SBM Intelligence indicates that approximately 80% of Nigerians believe the country is heading in the wrong direction, with 45% citing the rising cost of living and security concerns as major issues.
- Tinubu faces opposition from 18 other candidates, including former Vice President Atiku Abubakar and former Governor Peter Obi, who were also prominent in the previous election.
- Despite the World Bank reporting economic growth in Nigeria, many citizens feel disconnected from this progress due to the high cost of food, housing, and transportation.