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AfDB warns rising Cost Of Living may lead to Social Unrest

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The African Development Bank has raised an alarm that RISING PRICES of fuel and other commodities could lead to SOCIAL UNREST in Nigeria, Ethiopia, Angola and Kenya.

The bank sounded the warning in its macroeconomic performance and outlook for 2024, in which it projected Africa’s economy to grow higher than the 3.2 per cent recorded in 2023, but projected that growth will rebound to 3.8% in 2024.

The Nigeria Labour Congress (NLC) has already scheduled a two-day nationwide protest – after the expiration of a 14 day ultimatum it issued to the Federal Government – over the hardship being experienced by Nigerians as well as the deteriorating security situation in the country.

The planned days for the nationwide protest are February 27 and 28.

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