“We opine that adequate consideration should be given to the dire state of the economy and the possible unintended social unrest that may result from the protests.”
Mr Tinubu unveiled plans to provide a N75 billion credit facility between July 2023 and March 2024 to 75 enterprises to strengthen the manufacturing sector.
“Also, there has been a drop in importation because things are really biting hard,” he said.
Checks at different businesses observed that the old N500 and N1,000 notes were being accepted by traders as legal tender.
Any fuel price hikes affect the Nigerian economy in ways that run much deeper than they do practically everywhere else in the world.
The private businesses collective says it was in quandary amid the legal tussle and controversy surrounding payment and collection of VAT.
Rising and high inflation, perennially high-interest rates, and scarce or high rate of forex has compounded the downturn in the sector.
