Economist Says Reforms Brought Stability but Lower Living Standards

• • 1 min read
Economist Says Reforms Brought Stability but Lower Living Standards

LAGOS — Professor Bongo Adi of Lagos Business School says the removal of the fuel subsidy and foreign exchange liberalisation have stabilised Nigeria's economy but at the cost of falling living standards. Speaking in a television interview, he said that at 4 per cent growth it would take about 15 years for incomes to double, and that per capita income is now about $1,000.

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