Nigeria: a big time bomb ticking very fast - A letter from Abiodun Oyeyemi in Lagos The objective situation in Nigeria can best be described as a big time bomb ticking at a very fast rate. The Trade Union leadership is under a lot of pressure, as big revolts over wages and working conditions have broken out. They are still holding back the movement qualitatively but it is only a matter of time before it explodes on a higher level. Many of the big companies are now directly cutting wages by as much as 40%-70%. The pressures on the lower classes are mounting by the day. The stock exchange is always overheating. A crash is inevitable.