Nigerians resort to emergency loans as austerity and inflation bite

Nigerians are turning to expensive emergency loans to cover the cost of essentials, as the country’s economic woes push more people into poverty and fears grow of a consumer debt crisis.

High inflation and a controversial austerity drive by the government have weighed down on Nigerians’ incomes at a time when payday loan providers have become ubiquitous.

“You become enslaved,” said Samuel, the owner of a small dry cleaning company in…