Nigeria’s economy grew by almost 3.5% in the last quarter, surpassing expectations as its services industry expanded at its fastest pace in nearly two years.
The figures represent a reprieve for President Bola Tinubu, who has struggled to stabilize the economy after cutting costly fuel subsidies on which many Nigerians relied. However Tinubu said the growth figures showed “much work” still needed to be done.
Surging fuel prices have added to already-high inflation, sparking mass protests. They have also forced thousands to find other ways to move around: More than 100,000 cars that formerly ran on gasoline have been converted to run on natural gas.
