Altcoins Talks - Cryptocurrency Forum
Local => Nigerian Languages => Topic started by: Mr. Allcrypto on February 13, 2024, 05:41:34 AM
-
The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
-
The floor is open for everybody, you can ask any questions pertaining the current inflation rate in Nigeria, and as well as discuss your points of views so we can enlighten and educate each other in this platform 😉.
-
You do not need to make posts consecutively without anyone posting yet. It would be good if your post is merged.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
It is just like saying the cause of the price of bitcoin going down is because the price is going down. You can learn about the cause of inflation and edit your posts to make it better.
Some of the cause of inflation are depending more on imported goods and services, declination in productivity, increase in money supply, I mean money printing etc.
-
I think say na pigin we suppose dey use here. I no sabi speak English oh so I go write with pigin. I no say no be only devaluation way dey cause inflation but when naira value don reduce, it go make things hard for naija bcus goods go come dey very costly when we wan buy from other countries. I dey find am difficult now self to buy things foreign sites and I no happy. All this thing dey result to increase for import prices and then the price level for our economy go come increase scatter. Bcus of all this thing I talk, inflation go come happen.
-
I think say na pigin we suppose dey use here. I no sabi speak English oh so I go write with pigin. I no say no be only devaluation way dey cause inflation but when naira value don reduce, it go make things hard for naija bcus goods go come dey very costly when we wan buy from other countries. I dey find am difficult now self to buy things foreign sites and I no happy. All this thing dey result to increase for import prices and then the price level for our economy go come increase scatter. Bcus of all this thing I talk, inflation go come happen.
Wetin Charles-Tim talk na e dey cause inflation. Before Naira go depreciate na something cause am, abi Naira go just depreciate like that. We no dey produce anything for this country compare to the things wey we dey buy from outside country come inside Naija. So when una go buy their foreign things, since una no get any better thing wey una go sell for them, any price wey them tell you, na him you go pay. And na them get the products so if you no buy, you no go fit survive without that thing. This go make you get no option than to buy am on the exchange rate wey them tell you.
-
The main issue wey dey bother me na say why the exchange rate of dollar to naira just dey rise e come be like say naira no get value again.
With all the natural resources wey Nigeria get the government no fit use am boost the value of naira. Inflation and debt wan just finish Nigeria economy
-
There was a time I heard people complained before about lack of food and all the rest. They said married people should not give birth to many children. They never knew it was inflation. Now, look at naira against dollar, the prices of goods in the market are so high. Those working for government did not get salary increment. This our country seems to be like a stagnant water. Nothing seems to move forward again.
-
Op this your thread and this one https://www.altcoinstalks.com/index.php?topic=318032.msg1503240#msg1503240 are saying the same thing so why creating multiple threads with the same motion? Well as you said in the second thread which captured my mind to make comment and only for me to discovered that you have merged thread or topic. And that is I brought the comment to this side. As you said the price of things are increasing daily and second by second and that quickly reminded me of the flood in the year 2012 and 2022 which was increasing every second ad that is how the cost of living in Nigeria presently and the only solution a brutal protest and if not things will never come back again and instead it will be increasing.
-
All these cause are from bad government I mean bad governance and if not carefully controlled we might sink even more than this we are facing now because I don't any reason putting someone who is not capable to rule the country and can not handle things the way it should go rather than their personal interest. We also knows that our export rate is very low sometimes this bring down our currency because there is no much higher demand by foreigners to buy our products from our country and export to their country, when the rate of export increases more than our imports then we say to have a better economy even as that if we don't still work on some crucial issues about our governance we might fall back so, all these cause can inflation as well.
-
The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
Wetin I dey concerned about na why dollar go increase like with that kind value , everything just hard for Nigeria cost of living is too expensive. Wetin really dey make this dollar high so, we don taya like serious make government do something about this .
-
The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
Inflation rate as of today has skyrocketed to a point that there are items that are now out of rich of the ordinary Nigerian as the economy is in a bad shape and the naira to dollars exchange rate is on the rise, inflation in the price of goods and services is increasing everyday as there is no constant price of goods and services because you can buy something in the morning for 500 and then go back in the evening and get it for 1000
-
Inflation is the overtime increase in prices of commodities (goods and services), it has been a big effect in the economy, its rate is increasing day by day.
Nigeria has natural resources and raw materials that they will make proper use of, to achieve economic stability and for the betterment of the country, but they depend heavily on imported goods, the governments lack the ability to think on how to make proper use of the resources to bring development to our country with their full support, and to encourage the citizens to manufacture their own products that will be exported to the foreigners countries, so that they should need us, as well as we need them. The foreigners has to rise us (by increasing the demand of our products) the same way we rise them(as we purchase theirs, which bring development to the countries). governments have the ability to reduce inflation and promote deflation.
-
~snip
Inflation rate as of today has skyrocketed to a point that there are items that are now out of rich of the ordinary Nigerian as the economy is in a bad shape and the naira to dollars exchange rate is on the rise, inflation in the price of goods and services is increasing everyday as there is no constant price of goods and services because you can buy something in the morning for 500 and then go back in the evening and get it for 1000
And the consistent changes in price does not happen in a two-way manner, i.e increase and decrease. It only happens in a one-way manner, i.e we only get price increments, and no decrement. And sometimes, I think some of the marketers over inflate some of these things due to selfish reasons. Truth is, just as the government are not making things easier, some of our fellow citizens are making things tougher as well.
-
For naija we dey witness inflation all round oo this one no be in a given period of time oo this one Dom pass that statement this one na inflation pro max we dey witness inflation for prices of things still dey witness am for cost of living. Na only God fit deliver us from this thing oo cause I don't see it coming to an end anytime soon. Na to find wetin go keep you alive naim dey important first.
-
For naija we dey witness inflation all round oo this one no be in a given period of time oo this one Dom pass that statement this one na inflation pro max we dey witness inflation for prices of things still dey witness am for cost of living. Na only God fit deliver us from this thing oo cause I don't see it coming to an end anytime soon. Na to find wetin go keep you alive naim dey important first.
Nigeria is indeed living in the darkest times ever imaginable, “inflation which has affected the price of every commodities and cost of living. It is not something that we can hope will come to pass soon and the duty to survive is one most are willing to risk everything for. Amidst all these we can only pluck strength and courage to go head out to face every single difficulty that comes along our way, while waiting and praying for such change that will turn us into more prosperous beings.
-
~snip
Inflation rate as of today has skyrocketed to a point that there are items that are now out of rich of the ordinary Nigerian as the economy is in a bad shape and the naira to dollars exchange rate is on the rise, inflation in the price of goods and services is increasing everyday as there is no constant price of goods and services because you can buy something in the morning for 500 and then go back in the evening and get it for 1000
And the consistent changes in price does not happen in a two-way manner, i.e increase and decrease. It only happens in a one-way manner, i.e we only get price increments, and no decrement. And sometimes, I think some of the marketers over inflate some of these things due to selfish reasons. Truth is, just as the government are not making things easier, some of our fellow citizens are making things tougher as well.
The truth is that our fellow citizens are making things more difficult for us. From the moment they discover that they want to raise the price of fuel, even if they haven't implement it, they will go ahead and start increasing the price of goods. if the government decides to tackle inflation, it will be very difficult, and I'm confident that even if they lower the price of fuel to 50 naira today, many prices of goods won't drop again due to our greediness and lack of market control.
Our problem is that once prices of goods increase, there is no guarantee that they will drop again. Items we used to purchase 20 naira before they are now selling them for 200 naira, the government is not only to blame, citizens have obligations to fulfill if they want the betterment of our country.
-
~snip
Inflation rate as of today has skyrocketed to a point that there are items that are now out of rich of the ordinary Nigerian as the economy is in a bad shape and the naira to dollars exchange rate is on the rise, inflation in the price of goods and services is increasing everyday as there is no constant price of goods and services because you can buy something in the morning for 500 and then go back in the evening and get it for 1000
And the consistent changes in price does not happen in a two-way manner, i.e increase and decrease. It only happens in a one-way manner, i.e we only get price increments, and no decrement. And sometimes, I think some of the marketers over inflate some of these things due to selfish reasons. Truth is, just as the government are not making things easier, some of our fellow citizens are making things tougher as well.
The truth is that our fellow citizens are making things more difficult for us. From the moment they discover that they want to raise the price of fuel, even if they haven't implement it, they will go ahead and start increasing the price of goods. if the government decides to tackle inflation, it will be very difficult, and I'm confident that even if they lower the price of fuel to 50 naira today, many prices of goods won't drop again due to our greediness and lack of market control.
Our problem is that once prices of goods increase, there is no guarantee that they will drop again. Items we used to purchase 20 naira before they are now selling them for 200 naira, the government is not only to blame, citizens have obligations to fulfill if they want the betterment of our country.
Thus, our economic state dictates that we as citizens owe it to ourselves to work assiduously to transform the infrastructural landscape alongside a strong willed polices from the government. It is most unbecoming for prices to increase with no apparent provocation but what can only be described as greedy moves that end up raising costs for the lot of us. To fix it, there is need to enhance market monitor, it has to improve so that every individual should understand that more profit will result to a wider gap. Quite simply, if we want a better country we need to be an active part of the fight for fair prices, of economic policies really oriented towards the common good and common need rather than the greed and comforts of the few.
-
The main issue wey dey bother me na say why the exchange rate of dollar to naira just dey rise e come be like say naira no get value again
The problem with the high exchange rate in the country is that government has failed and lack the capacity to stabilize the naira against the dollar and this can only be achieved when you meet up local demands on the market with locally made goods and start exporting and we have failed on this regard we need start producing essential goods and services that the country needs that is when we the naira can appreciate against the dollar
-
The problem with the high exchange rate in the country is that government has failed and lack the capacity to stabilize the naira against the dollar and this can only be achieved when you meet up local demands on the market with locally made goods and start exporting and we have failed on this regard we need start producing essential goods and services that the country needs that is when we the naira can appreciate against the dollar
One huge problem that Nigeria has is that they are too dependent on the dollar. Majority of our imports and export rate fixated on the dollar making it difficult for the naira to strive. In addition to that our natural resources are not being managed like I've always said.
A country's economy is dependent on their natural resources and other means of revenue. Our leaders actually failed in managing these resources and as a result we are actually getting hit harder by inflation. The dollar is also hit by inflation but not as much as the Naira is.
-
The problem with the high exchange rate in the country is that government has failed and lack the capacity to stabilize the naira against the dollar and this can only be achieved when you meet up local demands on the market with locally made goods and start exporting and we have failed on this regard we need start producing essential goods and services that the country needs that is when we the naira can appreciate against the dollar
One huge problem that Nigeria has is that they are too dependent on the dollar. Majority of our imports and export rate fixated on the dollar making it difficult for the naira to strive. In addition to that our natural resources are not being managed like I've always said.
A country's economy is dependent on their natural resources and other means of revenue. Our leaders actually failed in managing these resources and as a result we are actually getting hit harder by inflation. The dollar is also hit by inflation but not as much as the Naira is.
It's not only in Nigeria, dollar is the currency that is used in international markets because it's world reserve currency. Nigeria is more of a consuming nation and they are not producing, making us to depend more on foreign goods which worsen our economy. If only we can focus more on producing most of what we use.
-
~snip
It's not only in Nigeria, dollar is the currency that is used in international markets because it's world reserve currency. Nigeria is more of a consuming nation and they are not producing, making us to depend more on foreign goods which worsen our economy. If only we can focus more on producing most of what we use.
You're right. One of our biggest problem is the unwillingness to mass produce. We're just busy consuming other foreign products. As common as toothpick, we still import it from other countries. Nigeria isn't the only country using the dollar for international business related matters. The common sense to just put things inorder is not just there. Just imagine a oil producing country can't even make boost of 20 standard refineries. Our resources ought to be our pride and source of development, but it happened to be the other way round.
-
The problem with the high exchange rate in the country is that government has failed and lack the capacity to stabilize the naira against the dollar and this can only be achieved when you meet up local demands on the market with locally made goods and start exporting and we have failed on this regard we need start producing essential goods and services that the country needs that is when we the naira can appreciate against the dollar
One huge problem that Nigeria has is that they are too dependent on the dollar. Majority of our imports and export rate fixated on the dollar making it difficult for the naira to strive. In addition to that our natural resources are not being managed like I've always said.
A country's economy is dependent on their natural resources and other means of revenue. Our leaders actually failed in managing these resources and as a result we are actually getting hit harder by inflation. The dollar is also hit by inflation but not as much as the Naira is.
It's not only in Nigeria, dollar is the currency that is used in international markets because it's world reserve currency. Nigeria is more of a consuming nation and they are not producing, making us to depend more on foreign goods which worsen our economy. If only we can focus more on producing most of what we use.
Will the government policy even allow us to produce with a lot of corruption and incompetence that full this our mother’s land. You have a better point with this our country we are bless a lot to produce things ourselves not depending on other nation, Nigeria as a lot of raw materials but our country mindset won’t allow them to implement that type of decision a lot of bad governance trying to secure more assets for themselves not for the nation.
We are supposed to be a great nation with a lot of mineral resources that we have but this country is full of shits and corruption we hope we find better governance to promote and bring a lot of progress to the country.
-
It's not only in Nigeria, dollar is the currency that is used in international markets because it's world reserve currency. Nigeria is more of a consuming nation and they are not producing, making us to depend more on foreign goods which worsen our economy. If only we can focus more on producing most of what we use.
Yes I agree the dollar is used as a base currency for pricing in majority of regions all over the world. The problem with the Naira is that it's too dependent on the dollar because of poor management of resources. We import way more than we export. Infact it's almost safe to say that the only thing we actually export is oil and oil is getting less valuable on the market every single day that passes.
Imagine importing things that will cost us as low as 5 to 10% to produce and end up wasting revenue on import duty and tariff. The whole system is Very messed up and it's getting worse over time.
-
It's not only in Nigeria, dollar is the currency that is used in international markets because it's world reserve currency. Nigeria is more of a consuming nation and they are not producing, making us to depend more on foreign goods which worsen our economy. If only we can focus more on producing most of what we use.
Yes I agree the dollar is used as a base currency for pricing in majority of regions all over the world. The problem with the Naira is that it's too dependent on the dollar because of poor management of resources. We import way more than we export. Infact it's almost safe to say that the only thing we actually export is oil and oil is getting less valuable on the market every single day that passes.
Imagine importing things that will cost us as low as 5 to 10% to produce and end up wasting revenue on import duty and tariff. The whole system is Very messed up and it's getting worse over time.
From what is happening now in the country I don't think consuming foreign goods making the country economy bad and cost of living. Now Nigeria producing fuel but the price is 100% higher than the importing time. Now Nigeria producing Indomie, spaghetti, Sugar and others commodities but all are coster than the time of importation. Nigeria problem is the elites. Since when Dangote produce fuel in the country, there is no General Electricity in the country. And the National Grid falling upon falling. So let us remove the dollar and foreign goods from this content. I was very much aware that dollar was the problem of Nigeria problem and whenever dollar rise things became costly but internal force are the cause of Nigeria problem. Selfishness and greediness is the caused of everything.
Dollar na international currency which is us to exchange Goods and services and with dollar there is globalization.
-
It's not only in Nigeria, dollar is the currency that is used in international markets because it's world reserve currency. Nigeria is more of a consuming nation and they are not producing, making us to depend more on foreign goods which worsen our economy. If only we can focus more on producing most of what we use.
Yes I agree the dollar is used as a base currency for pricing in majority of regions all over the world. The problem with the Naira is that it's too dependent on the dollar because of poor management of resources. We import way more than we export. Infact it's almost safe to say that the only thing we actually export is oil and oil is getting less valuable on the market every single day that passes.
Imagine importing things that will cost us as low as 5 to 10% to produce and end up wasting revenue on import duty and tariff. The whole system is Very messed up and it's getting worse over time.
the main causes of inflation in Nigeria is bad manegement of our resources by so called leaders that has no knowledge of economics Nigeria can only have a good and stable inflation rate when we begin to prioritize local content over imported goods and products as it will help reduce the inflation I main reason why we are having this high inflation is basically because we are a country that is based on importing and it's the dollar that is used in the international market so we have to use plenty naira in doing that as ours naira to dollar exchange rate is poor
-
Yes I agree the dollar is used as a base currency for pricing in majority of regions all over the world. The problem with the Naira is that it's too dependent on the dollar because of poor management of resources. We import way more than we export. Infact it's almost safe to say that the only thing we actually export is oil and oil is getting less valuable on the market every single day that passes.
Imagine importing things that will cost us as low as 5 to 10% to produce and end up wasting revenue on import duty and tariff. The whole system is Very messed up and it's getting worse over time.
Some policies that the government is making are not encouraging to producers and discouraging to those considering becoming producers. If there is enough incentive and a bulk of good policies encouraging producers, our production strength will increase because Nigerians are very hard workers. There also has to be some kind of program from the government to help people scale the bias in their minds about locally made products that they view as inferior to the ones' imported. Encouraging purchase of locally made products will be encouraging to producers.
-
~
One huge problem that Nigeria has is that they are too dependent on the dollar. Majority of our imports and export rate fixated on the dollar making it difficult for the naira to strive. In addition to that our natural resources are not being managed like I've always said.
A country's economy is dependent on their natural resources and other means of revenue. Our leaders actually failed in managing these resources and as a result we are actually getting hit harder by inflation. The dollar is also hit by inflation but not as much as the Naira is.
It's not only in Nigeria, dollar is the currency that is used in international markets because it's world reserve currency. Nigeria is more of a consuming nation and they are not producing, making us to depend more on foreign goods which worsen our economy. If only we can focus more on producing most of what we use.
If you’re a country that is always consuming and not producing, there is no way the currency of your country will be valuable in the international market, it’ll continue to depreciate and even your country people won’t like to be earning in Naira again but their earnings should be pegged more on the currency that your country uses for most international transactions. Nigeria Naira can only get better when we produce and sell out products in Naira in the international market, by that way, our currency can also gain value as it’ll be the base current for transaction out of the country. Even the little things we get to export are being sold mostly in dollars, how will we then now get value for our currency. It’s really impossible that way.
-
The problem with the high exchange rate in the country is that government has failed and lack the capacity to stabilize the naira against the dollar and this can only be achieved when you meet up local demands on the market with locally made goods and start exporting and we have failed on this regard we need start producing essential goods and services that the country needs that is when we the naira can appreciate against the dollar
One huge problem that Nigeria has is that they are too dependent on the dollar. Majority of our imports and export rate fixated on the dollar making it difficult for the naira to strive. In addition to that our natural resources are not being managed like I've always said.
A country's economy is dependent on their natural resources and other means of revenue. Our leaders actually failed in managing these resources and as a result we are actually getting hit harder by inflation. The dollar is also hit by inflation but not as much as the Naira is.
It's not only in Nigeria, dollar is the currency that is used in international markets because it's world reserve currency. Nigeria is more of a consuming nation and they are not producing, making us to depend more on foreign goods which worsen our economy. If only we can focus more on producing most of what we use.
Will the government policy even allow us to produce with a lot of corruption and incompetence that full this our mother’s land. You have a better point with this our country we are bless a lot to produce things ourselves not depending on other nation, Nigeria as a lot of raw materials but our country mindset won’t allow them to implement that type of decision a lot of bad governance trying to secure more assets for themselves not for the nation.
We are supposed to be a great nation with a lot of mineral resources that we have but this country is full of shits and corruption we hope we find better governance to promote and bring a lot of progress to the country.
There is another market manipulation by the government and CBN. Naira is appreciating over dollar since last weekend till date, but the cost of goods is still increasing despite the value that Naira is having which shows that the government is doing this for their own selfish interest. However, since it's a manipulation, it will be temporary and I don't see how this is solving the problem of hardship in the country.
-
There is another market manipulation by the government and CBN. Naira is appreciating over dollar since last weekend till date, but the cost of goods is still increasing despite the value that Naira is having which shows that the government is doing this for their own selfish interest. However, since it's a manipulation, it will be temporary and I don't see how this is solving the problem of hardship in the country.
Well in my opinion there is a little bit of misunderstanding here the Naira is not actually appreciating over the dollar and that can be noted by observing both their prices and price movement. What is actually happening is that the dollar is been dropping for a while now. During that very first period of bitcoin price pump, the dollar also increased in value too but it was mostly noticeable for those that trade Dollar pairs on the Forex market.
I really haven't done a thorough research on what caused it but the dollar is currently dropping though it may not seem significant and that is more like the reason Naira in comparison seems like it's pumping.
-
~
One huge problem that Nigeria has is that they are too dependent on the dollar. Majority of our imports and export rate fixated on the dollar making it difficult for the naira to strive. In addition to that our natural resources are not being managed like I've always said.
A country's economy is dependent on their natural resources and other means of revenue. Our leaders actually failed in managing these resources and as a result we are actually getting hit harder by inflation. The dollar is also hit by inflation but not as much as the Naira is.
It's not only in Nigeria, dollar is the currency that is used in international markets because it's world reserve currency. Nigeria is more of a consuming nation and they are not producing, making us to depend more on foreign goods which worsen our economy. If only we can focus more on producing most of what we use.
If you’re a country that is always consuming and not producing, there is no way the currency of your country will be valuable in the international market, it’ll continue to depreciate and even your country people won’t like to be earning in Naira again but their earnings should be pegged more on the currency that your country uses for most international transactions. Nigeria Naira can only get better when we produce and sell out products in Naira in the international market, by that way, our currency can also gain value as it’ll be the base current for transaction out of the country. Even the little things we get to export are being sold mostly in dollars, how will we then now get value for our currency. It’s really impossible that way.
I completely agree with you on this point you made here because the economy of every nation is powered by the productions capacity of the nation and in Nigeria we are basically an import dependent economy and that is really affecting our currency because the dollar is really way higher than our currency so is affecting us negatively we need as a matter of emergency increase local our local production so we can export so that our currency can have value in the international market that is when we can reduce inflation in Nigeria
-
There is another market manipulation by the government and CBN. Naira is appreciating over dollar since last weekend till date, but the cost of goods is still increasing despite the value that Naira is having which shows that the government is doing this for their own selfish interest. However, since it's a manipulation, it will be temporary and I don't see how this is solving the problem of hardship in the country.
Well in my opinion there is a little bit of misunderstanding here the Naira is not actually appreciating over the dollar and that can be noted by observing both their prices and price movement. What is actually happening is that the dollar is been dropping for a while now. During that very first period of bitcoin price pump, the dollar also increased in value too but it was mostly noticeable for those that trade Dollar pairs on the Forex market.
I really haven't done a thorough research on what caused it but the dollar is currently dropping though it may not seem significant and that is more like the reason Naira in comparison seems like it's pumping.
What I notice here is that the changes in the movements of currency show shifting trends of the overall world market. That is why for instance a notion such as dollar looks to be weakening, may be associated with the notion that Naira is strengthening, while the truth is many times otherwise. This has proved that if we are to evaluate the situation, understanding the global economic system is more profound. This way, we obtain information of what to do while observing market results to better manage funds and resources.
-
The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
inflation is a major challenges we all experience in this country,after removal of subsidy everything in the country skyrocket twice as before,and what i finds that about this country is that the moment price increases it reamains or increase instead of going back to the formal price,the economy crisis has gone boyond our expectation.
-
The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
inflation is a major challenges we all experience in this country,after removal of subsidy everything in the country skyrocket twice as before,and what i finds that about this country is that the moment price increases it reamains or increase instead of going back to the formal price,the economy crisis has gone boyond our expectation.
inflation is a big problem in Nigeria as the current price of goods in the market has moved beyond the ordinary Nigerian to afford because price of goods has skyrocketed by an unimaginable level the worst part of it is that government is not concerned about the worries of the citizens, government should take concrete steps to make sure that inflation is reduced to the minimum by taking measures to improve on our local manufacturing industry
-
The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
My very question wey if I see the President I go ask am be say even if any other thing wan cost, e no supposed be fuel, no be we way dey even sell crude oil to other countries... This thing really dey bother me but I no say God dey for us and him go help us, Amen
-
The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
Inflation is the continuous rise in the price of goods and services over an extended period of time. In the country today, Inflation is simply the order of the days as every day by day prices of commodity continue to multiply, this are as a result of numerous factors such as insecurity, Naira devaluation against foreign currencies, high cost of production and so on. The government are one of the causes of inflation in the country this is because if the government can provide enough security for the country there wouldn't be anything like theft of farm produce, which may later on lead to the hike of produce, because the farmer will want to make up for the lost crops by increasing the prices of their crops during sales.
-
The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
Inflation is the continuous rise in the price of goods and services over an extended period of time. In the country today, Inflation is simply the order of the days as every day by day prices of commodity continue to multiply, this are as a result of numerous factors such as insecurity, Naira devaluation against foreign currencies, high cost of production and so on. The government are one of the causes of inflation in the country this is because if the government can provide enough security for the country there wouldn't be anything like theft of farm produce, which may later on lead to the hike of produce, because the farmer will want to make up for the lost crops by increasing the prices of their crops during sales.
Government is the main cause and reason for inflation in the country because government has refused to create an enabling environment for economic growth because in virtually all aspects of the economy government has not done anything that will cause the economy to be in a good shape because in a country where there is no constant power supply for economic activities and a good road network for the for economic activities can't expect a good economy situation where we will have a good inflation rate
-
The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
Inflation is the continuous rise in the price of goods and services over an extended period of time. In the country today, Inflation is simply the order of the days as every day by day prices of commodity continue to multiply, this are as a result of numerous factors such as insecurity, Naira devaluation against foreign currencies, high cost of production and so on. The government are one of the causes of inflation in the country this is because if the government can provide enough security for the country there wouldn't be anything like theft of farm produce, which may later on lead to the hike of produce, because the farmer will want to make up for the lost crops by increasing the prices of their crops during sales.
Government is the main cause and reason for inflation in the country because government has refused to create an enabling environment for economic growth because in virtually all aspects of the economy government has not done anything that will cause the economy to be in a good shape because in a country where there is no constant power supply for economic activities and a good road network for the for economic activities can't expect a good economy situation where we will have a good inflation rate
Government really haven’t done anything much about the economic crisis though, but I guess they are trying to make some betterment in the aspect of agriculture products cause seems the products are getting cheaper and reachable for the poor and needy, the market values of some agriculture products (foods ) has really become affordable and we hope the price really get more cheaper than this. Seems the government are really working and trying to be farming themselves not importing or depending on any country for agriculture products and farmers now are employed and they work for government now so I guess with time Agricultural products will be affordable and that will really reduced the economic cost and increase economic growth for the nation.
We just need to give the government time and believe with them. We hope for better results for our mother’s land.
-
Snips
I don't understand what you mean because I price of food stuffs in the market has not reduced because people are really complaining government has really not done enough even in the area of agriculture because what government is doing is just playing politics with everything because all the Agricultural programs you see them camouflage on television doesn't get to the people who are the real farmers, what Nigeria farmers need at this present point in time is mechanized farming so government should bring modern farming implement to farmers so that food can be produced in in mass scale which will see the price of food stuff come down in the market.
-
Snips
I don't understand what you mean because I price of food stuffs in the market has not reduced because people are really complaining government has really not done enough even in the area of agriculture because what government is doing is just playing politics with everything because all the Agricultural programs you see them camouflage on television doesn't get to the people who are the real farmers, what Nigeria farmers need at this present point in time is mechanized farming so government should bring modern farming implement to farmers so that food can be produced in in mass scale which will see the price of food stuff come down in the market.
Well said. The government is simply political about everything even in the area of agriculture. The government fully knows that food is one of the basic amenities that the citizens cannot do without, so if they are to invest in anything it should be more in the agricultural sectors. This investments involves the introduction of mechanized farmer, just like you have said. Mechanized farming will make work in the farm easier and better, you cannot expect an elderly man or woman who is a farmer to be clearing bushes in a large expanse of land. Another way the government can make investments is through giving out of financial support to the farmers, this financial support can help them purchase fertilizers and seedlings to enable them have more harvest.
-
The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...
inflation is a major challenges we all experience in this country,after removal of subsidy everything in the country skyrocket twice as before,and what i finds that about this country is that the moment price increases it reamains or increase instead of going back to the formal price,the economy crisis has gone boyond our expectation.
But another truth be say this whole inflation thing sef no be for only this country oo because Omo na the whole entire world because there are so many things wey no actually dey the way e suppose dey again and so many people don dey affected especially for our own country but the difference between Nigeria and other countries be say their own government fit dey do something the whole matter but as for Nigeria we government just dey reluctant about the thing.