Nigeria is grappling with severe inflation, peaking at 24.48% in January 2025. The country’s economic reforms under President Tinubu include subsidy removals and unifying exchange rates, but these measures have led to higher living costs.

As traditional financial systems falter, citizens turned to cryptocurrencies, trading about 59 billion USD in 2023-2024. The Nigerian SEC is crafting regulations to formalize crypto transactions, aiming to stabilize the economy through enhanced fiscal policies.