In my own point of view concerning the inflation in Nigeria right now, we are also contributing in the cost of goods in the market. This means that the sellers are passing on the higher cost of bringing goods to the market. We should understand that Nigeria economy is very poor. Ways in reducing inflation in Nigeria:
1) Agriculture: agriculture sector can help in reducing inflation. If going back to plainting of crops such as cassava, yam, plaintain and raring of livestock. This will help in reducing inflation.
2) Expectations: we should stop expecting inflation, I over heard a lady saying next year hunger go dey oh, I was like what is wrong with this country, if people keep expecting inflation next year, firms will put up prices high and workers will demand higher incomes because nobody wants to be left out.
3) Employment: Nigerian government should focus on graduates with no jobs, promoting of jobs, and investment can help to reduce inflationary pressures. In a country that employes and creates jobs to youths and citizens whereas this look like pushing money out through salary payment, this will help in reducing inflation on the country.
4) Bitcoin adoption/acceptance: since Nigeria economy is very weak, therefore, accepting Bitcoin will sustain the economy to some extend. In fact Bitcoin will boost the economy in the country, it will even create employment and self reliance of the youth.
Accepting Bitcoin in the country will even help the government because the youth will create jobs by themselves without looking for the white coller jobs. And that means crime rate will reduce. Bitcoin will help the fiat currency to withstand with the oppressive dollar