Economist Podcasts A messy oil change: Nigeria’s fraught reforms
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Sep 7, 2023 
Ore Ogunbiyi, a correspondent from Lagos, shares insights on Nigeria's economic challenges following President Bola Tinubu's controversial fuel subsidy cuts. He discusses the rising inflation and its toll on ordinary citizens while contrasting this with cautious optimism from investors. Leo Marani, reporting from Mumbai, highlights how India's cities could thrive with more autonomous governance, using Bhubaneshwar as a shining example of urban innovation. The conversation also touches on the evolving landscape of video games, shifting towards kinder themes to cater to a diverse audience.
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Rising Living Costs in Nigeria
- Nigerians express discontent over rising living costs, with inflation at an 18-year high.
- Staple foods like rice and garri have almost doubled in price, causing widespread concern.
Impact of Fuel Subsidy Removal
- Removing the fuel subsidy, while economically necessary, has drastically increased petrol prices.
- This has led to a surge in transport costs and hardship for many Nigerians.
Ineffective Palliatives
- The government's plan to mitigate the subsidy's impact with cash transfers has faced challenges due to political disputes.
- Inadequate palliatives, like small food portions, fail to address the rising costs.