Post
Topic
Board Nigeria (Naija)
Re: The cause of inflation
by
Lida93
on 06/02/2024, 05:06:14 UTC
The cause of the inflation is nothing but as a result of printing money that is naira is losing value constantly everyday. The economy has never been bad like this, we are facing the consequences of wrong economy doings.
Hey man, don't basically attribute the drastic fall in the value of the Naira to the printing of money by past administration, there has been the printing of more money over and over again by each administration the comes into power yet the Naira has never fell this down in value to the dollar.

In 2006/7 the Umaru Musa Yaradua/Goodluck Jonathan's administration printed more money into the economy (that was how we got the polymer notes we're using today and others) but never did the Naira fell so badly in rate to the dollar because the administrators as at that time had a working economic plan that was put in place as a government and it all was yielding results on the economy of the country that every citizen felt the positive impact of it in the process of foodstuffs, petrol price, and at that time dollar was around one hundred and something naira.

But right from the end of 2015, starting from 2016 the government that has set in to power has been government's that's without economic blueprints plan to show for, it has rather been an issue of many failed promises, trial and error policies, spontaneous decision making culture that has shown little or no positive impact on the economy. It's all been a rate race movement since then, as we are basically a consuming nation than a productive economy which is why the country currency will keep falling down in value against the currency of those other producing countries of the world. So it's not basically about printing of the Naira that has caused the fall in value this badly.