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.
Well your correct in one aspect because allot are factor of naira fall to Dollar not just printing of naira. The level of foreign investors leaving and selling their asset due to unfavorable policy from the government is much, not also area of our consumption is higher than our production. Many consumables here is imported, and their is not policy to support locally produced goods instead they will run it down by some ethnic politics just to keep improtation base on selfish gain of the higher class. Checking the level of mineral resources we have in this nation and the way will import those products because we can't refine them by ourselfs is painful. Secondly our government did not have any good policy to monitor those who are devaluating our currency through pilling of dollars and paying all their services in dollars, even most of Nigeria companies don't want to be paid in naira but in dollars tell me how won't naira fall even if the fail to print naira.