Nigeria Faces Worst Crisis in Decades - New York Times

Nigeria is facing its worst economic crisis in decades, with skyrocketing inflation, a national currency in free-fall and millions of people struggling to buy food.
The crisis it says is largely believed to be rooted in two major changes implemented by a president elected 15 months ago: the partial removal of fuel subsidies and the floating of the currency, which together have caused major price rises.
It adds that punishing inflation means poverty rates are expected to rise still further this year and next, according to the World Bank.
But Presidency disagrees. It says the report, based on several interviews, was all gloom and doom, as it never mentioned the positive aspects in the same economy as well as the ameliorative policies being implemented by the central and state governments.

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