The protests scheduled for August 1 are named "End Bad Governance in Nigeria."

Nigeria's President Bola Tinubu expressed his readiness to confront nationwide protests over rising living costs scheduled for next week, amidst what economists describe as the country's worst economic hardships in nearly three decades.

Nigeria currently faces a 34.2% inflation rate, exacerbated by Tinubu's decision last year to eliminate a popular petrol subsidy and significantly devalue the naira. Citizens, frustrated by these measures, have mobilized on social media to organize protests starting August 1, highlighting grievances against poor governance and economic difficulties. Authorities are concerned about potential violence during these demonstrations.

"We are not intimidated by protests. Our priority is the welfare of ordinary citizens and preventing any potential harm," Tinubu stated on Thursday after meeting with traditional leaders at his official residence.

Nigeria's last major protests occurred three years ago against a police unit accused of extrajudicial killings, resulting in a violent police crackdown that claimed many lives. The upcoming August 1 protests, themed "End Bad Governance in Nigeria," seek government action on demands including free education, improved security, urgent measures to tackle inflation, and transparency in lawmakers' salaries.

However, Tinubu remains optimistic about Nigeria's economic prospects, asserting, "I assure Nigerians that we see the light at the end of the tunnel. The economy is on its way to recovery."

Nigeria's largest labor union, which recently negotiated a new minimum wage with the government, has urged Tinubu to engage with protest leaders to discuss their demands constructively.