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.
Poor economic planning by the government can cause inflation, when a country is more of consumers than producers, OP, no doubt you made a very good point, printing of money is one if the factors to consider, when the government printed 1k note I thought about it and concluded that this might lead to hodling of that denomination by either high profile individuals or corrupt government official, the scarcity of naira we are facing today is caused by the individuals through banks, it is a problem, Nigeria doesn't have agencies that will monitor all this things even though they have such agency, the will be compromised in the long run, the naira is very weak because of it's low demand and less value for purchases, less encouragement for local producer can also course inflation but the major cause of high inflation is the high cost of petroleum product which control almost everything both transportation.