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Showing posts with the label Nigeria economy

Reverse Latest Petrol Price Hike Pending Court Verdict, SERAP Tells Tinubu

In a significant development, the Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to reverse the recent petrol price hike, pending the court’s final verdict on the matter.  SERAP emphasized that this move is necessary to alleviate the growing economic hardship faced by Nigerians. They argue that until the courts decide on the legality of the price hike, it should be suspended to provide relief to citizens.SERAP, known for its advocacy for transparency and good governance, filed a lawsuit against the government following the fuel subsidy removal that led to sharp increases in petrol prices.  According to the organization, the new petrol prices have exacerbated poverty and violated citizens' rights to an adequate standard of living. This call comes at a time when many Nigerians are grappling with rising costs of living, prompting widespread protests. While the government insists that subsidy removal is vital for economic reforms, SERAP co...