Quote from: Hyphen(-) on February 05, 2024, 06:15:03 PM

Over printing of money is a the main cause of our Naira devaluation. Since the year Nigerian government decide to start printing one thousand Naira note, many economists complained that it will keep affecting the Naira value, but the government are just after what they will earn while running the project without considering the consequences it will bring letter. Now they keep printing this money always not knowing that too much circulation of Naira will affect the country’s currency that is why the the government is now trying limit the currency circulation thinking it will help the economy.

The Nigerian government also over printed money during the time when they were moving to change the currency, that put a lot of new moneyin circulation without removal of the old naira notes.

Quote from: Y3shot on March 05, 2024, 12:03:30 PM

Printing of money is not the only cause of inflation but their are other factors,

Another factor is that we depend too much on importation even to simple products that can be manufactured here, hence when the price of importation increases, the effect is massive on the market because many good are imported.