High Cost of Living: Union Bank Raises Employee Compensation Twice
It is no longer news that most Nigerians are experiencing severe economic hardship due to the recent FX policy and subsidy removal. The economic challenges arising from the opening up of the foreign exchange market and the removal of petrol subsidies have resulted in soaring inflation and a significant drop in the value of the Naira against the Dollar. This has led to skyrocketing fuel prices, affecting the costs of other essential commodities and services, including food items, transportation, education, and healthcare. This increased economic burden falls on the citizens. It has significantly impacted the lives of Nigerians, leading to calls for the government to provide palliatives and policies to cushion the biting effects of the deteriorating economy. As citizens continue to wait on the government to roll out relief packages for the public, the private sector has swung into action, taking up the gauntlet of easing the financial burdens of its workforce. Many organisations like U