The shelf life of Nigeria’s recently presented budget plans is likely to be short with elections due in early-2023 and no guarantee about policy continuity. Any new administration will not only have hot button issues like the fuel subsidy scheme to tackle, but also longer-term fiscal challenges including raising woefully low revenues. Elsewhere, better-than-expected industrial production figures out of South Africa will soon be overshadowed by the hit to output from renewed power cuts and strikes.
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