This one shoke everybody, my brother, I was pondering about the whole situation a few hours ago, I don't just understand, especially the manner in which the Naira has risen but the inflation refuses to subside. Fine, at the start of this whole thing, the forex played a major role in this hyperinflation and economic woe since we are a consuming nation but the fact remains that our people aggravated it unnecessarily. Every sector of the economy started using the inflation excuse to increase prices. No one in the business can be exonerated from this, be it the manufacturers, the wholesalers down the retailers. They were just driving the market as if it is their birthright and the government is just clueless about the whole situation. They are never prepared for anything.

What I expected to be strongly affected by the FX-made inflation are the imported goods and services, while the locally made goods and rendered services should increase a little bit. But Nigerians used that opportunity to earn more which triggered the hyperinflation. And since there is no viable competition due to the border closure and the discouragement caused by the low naira value, it continues unabated. I wonder if the pepper sellers sort for FX as well to sow and harvest it to the point that N200 now was the value sold for about N50 in less than a year. Sugar moved up by about x10 in 3 years. These are abominations and can only happen in Nigeria.

Now, about the housing, we can't entirely blame the landlords but they contributed as well. The high cost of building materials should be considered also. However, the wickedness here is that the house that was built 5-10 years ago without any renovation is reflecting the inflation to the point that the house of N250,000 a few years back is now about $750,000. All these are too much and show the wickedness of Nigerians. Nigerians are all just selfish and the blame is not on FX and the government alone but on everybody.