Many of us thinks the rise of inflation and the weakness of the naira currency is because of the new government we have in the country. Before now a state governor was complaining about how the past government was printing of money, and many people thought it was just propaganda which they took it very lightly. The hardships and the high inflation rate we are seeing today is as a result of printing money that has been taking place longtime ago.
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.
Printing money alone cannot be the only cause of inflation in the country, first you must understand the market play, the demand and supply factor. inflation for Nigeria is majorly caused by the rise of dollar as against the naira, because most of the goods we consume are imported into the country and for those of them that import this goods into the country they pay using dollar and once the dollar is high against the naira, they will always add prices to the goods they sell and in turn this will cause what we call in economics a "multiplier effect", that is it will trickle down to the list commodity seller in the country. More like you don't expect me to buy your pepper for 100 naira and you think I will sell my onion for 50 naira. So this market forces are basically the causes of inflation in an economy and most times it can be controlled hence by government agencies to checkmate the excesses of those of them that just inflate price unnecessarily without any just cause.