The main cause of the problem is because our government failed to make the country to be less relying on foreign products. We are importing goods more than necessary. In technology we lag behind and the foreign nations are innovating new products that we continue to import.

Federal government needs to tackle the reasons we rely on importing goods. We need ways they can encourage and create a good environment of increasing productivity in Nigeria. Electricity is bad and has gotten worse again during this dry season as usual. They should start by providing constant electricity. Many companies left the country because of bad electricity. There is much more to discuss about this than Electricity.

So the government are not solving the primary reasons but going for secondary reasons. They wanted to control the parallel market and which they have just achieved like the CBN rate. Exchanges and others are restricting people that have ads from selling if not following the rules of the CBN, making the CBN to be indirectly using the exchanges to control the P2P price. Naira has increased in price now, but things in the market are still expensive and not reducing in price at all.