Economic struggles loom over Nigeria's election

STORY: At a bank in Nigeria's capital tempers are flaring.

Some have been forced to wait for hours to withdraw very little money.

"In my own country..."

This is Abuja resident Adebayo Babatunde.

"I cannot withdraw more than one 1,000 naira and they tell me now… I am from my bank now, they said it is only 1,000 naira that they can give me.’"

That's less than three U.S. dollars.

With a presidential and parliamentary election around the corner, the economy - dogged by surging inflation, widespread unemployment and acute shortages of foreign currency - is adding to voter frustration.

A central bank decision to replace old banknotes has also caused controversy as there are not enough new notes in circulation.

But it's not just cash that's scarce.

Arguments break out at fuel stations as well.

In Lagos, this is one of just a few in the vicinity that still have petrol amid recurring fuel shortages.

Bus driver Titus Nwafor.

‘’People are suffering, there is no money, there is no food."

But, he says, politicians on the campaign trail are not offering solutions.

President Muhammadu Buhari promised to revive the economy and improve livelihoods when he took office in 2015.

He prioritized infrastructure - spending billions of dollars on new roads, bridges, airports and rail.

But that came at a cost.

Nigeria's foreign debt has risen fourfold under Buhari to $40 billion.

The budget deficit has widened every year.

Buhari has also introduced protectionist policies including Import bans on rice.

That was a spur to local production, until increasing insecurity hit farmers' ability to plant.

With the cost of fertilizer and diesel also high, the price of a 50kg bag of rice rose nearly 90% last year to almost $120.

The situation has been exacerbated by the global health crisis, war in Ukraine and crude oil price slumps as well as heavy flooding last year that experts linked to climate change.

Buhari says his government has been laying the foundations for a stronger economy.

But many complain conditions have got worse under his watch.