Not so long ago Nigerian economists were claiming Nigeria would be immune from the world financial meltdown. Now the Nigerian economy is being hit very hard as the world economy is pushed more and more into recession. The dramatic fall in the price of oil is having a devastating impact on Nigeria's finances and the coming period will see this translated into even greater suffering for the working masses.
The present Yar'Adua administration in Nigeria elaborated a so-called "Seven Point Agenda" as it came into office. None of its goals have been achieved and will not be achieved on the basis of the present capitalist economic set up.
crisis in Nigeria is affecting all layers of society. Significantly the Lagos
doctors have taken a decision to embark on militant strike action for better
wages, but also better and cleaner working conditions.