“The Shege Promax Economy”: Average Nigerians ditch quality for survival

In the wake of President Bola Ahmed Tinubu’s announcement to completely remove the subsidy on petroleum products, a move that has led to a staggering increase in petrol prices, soaring as high as N600 per litre from the previous average of N185/litre, Nigerians are faced with the daunting dilemma of devising alternative strategies for navigating their lives amidst this steep surge in costs.

Nigeria’s inflationary trajectory has shown a persistent upward trend, defying efforts by the Central Bank of Nigeria (CBN) to curb the escalating prices of goods and services.

This economic predicament has been further compounded by an array of policies instituted by the recently established administration.