Inflation in Nigeria

[Axcel777]

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.

[Penlex_Writer]

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.

[Agbe]

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

[Joshikinz]

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

[Joeboy]

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.

[Agbe]

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

[Nheer]

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.

[Agbe]

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.

[Joeboy]

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.

[Mr. Allcrypto]

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.