Bitcoin Forum

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.

What I think is that this present government are like the old government that has nothing unique to offer. The government should come up with plans to make Nigeria to export more than import. There should be a solution to this. We have minerals and other things needed for the growth and development of our nation. Many countries can depend on our goods and services, but we are not producing enough, yet discouraging foreign investors in the country. Can you see how electricity is in Nigeria, our government is not different in doing. We are just not getting anything right.

Yes you are right, this current government is so weak, they do not have any plans on how to solve the challenges we face in the country. This government are not making any effort to make things better. I know the past administration made terrible mistakes that if really this government is working it will be something that they can be able to handle, but it seems the problems in the country are too big for them to solve.

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.

To come to terms with you OP I think exporting additional should be the main source  of revenue for Nigeria's economy most of the initiatives and government organizations that do production in Nigeria now are presently not functioning
I think if we the Nigerians start this exporting I think this could be the end of this so-called inflation rate.
Honestly speaking Nigeria is one of the largely blessed countries you can think of, in Africa when it comes to mineral resources
For illustration, if we the Nigerians start sending abroad
100% of well-homemade rice I think little by little we should accumulate somewhere in no time

 I feel it's too much of a requirement on the government if you ask them to diversify in the natural resources of the nation. To them, oil should be the only major thing to be exported and once that's not getting any much profit, the next thing is to print more money to help keep the economy afloat. For me, it's more of wanting to hide the fact that they are looting the funds and not to be queried much about it than wanting to keep the country afloat that they print these monies for.
 If we keep expecting a better country as the years go by, I feel it would be a waste of time, since these guys are more interested in making money for their generations than wanting to concern themselves with how the country grows.

Why inflation? It is simple. One of the reasons for this is because we devalued our naira. And because our "whole economic lives" is tied to oil prices which is in dollars as the only thing we are know for is oil, it is expected that whatever happens to oil prices directed affects our economy and naira. Obviously, this devaluation has lead to inflation and a reduction in people's income at least this is correct for non-thieving politicians, potentially impacting businesses and consumers negatively. Our businesses today, especially those relying on imports, face challenges due to increased costs. The devaluation affects the prices of imported goods, leading to concerns about maintaining profitability.  For example, look at me trying to sell my dogs because I can't afford to keep up with their high quality food which is imported. How can I be profitable in this business? No way. I have done the math.

If we dey talk economics wey we read for school, yes printing of new currency fit make a country begin withness inflation if not well managed because e mean say more money go dey the system chasing few goods or willing to buy at any price. But for countries wey stand well, the consequences of printing currency no dey hammer the currency down.

Therefore, printing of Naira no be the reason wey our Naira dey crash. Our own case be say we no get any economic indices wey go fit support economic growth. We only depend on one natural resources out of plenty of them scattered across Nigerian states. Na oil wey Nigeria dey export and not even in refined state but in crude wey be say we no dey even get the full benefits of am because if we refine here other byproducts go from the crude go benefit us and we go still export those byproducts with refined petroleum/oil.

The environment for businesses to grow no dey, no electricity, bad road network for transportation of goods, insecurity no let farmers effort show, corruption no allow proper utilisation of money meant for project development.

Which one person go talk? So the issue na simple and direct thing. Fortify production and begin export things then you go see less dependence on foreign exchange and products and the economy go balance then na Naira go use him hand normalize.

But when corruption put government wey no want do the right thing but only seeking ego and to pay back political cronies, omo everybody get family for naija and one way or the other, the evil that men do live with them mbok. Hussle oo  ;D

Hey man, don't basically attribute the drastic fall in the value of the Naira to the printing of money by past administration, there has been the printing of more money over and over again by each administration the comes into power yet the Naira has never fell this down in value to the dollar.

In 2006/7 the Umaru Musa Yaradua/Goodluck Jonathan's administration printed more money into the economy (that was how we got the polymer notes we're using today and others) but never did the Naira fell so badly in rate to the dollar because the administrators as at that time had a working economic plan that was put in place as a government and it all was yielding results on the economy of the country that every citizen felt the positive impact of it in the process of foodstuffs, petrol price, and at that time dollar was around one hundred and something naira.

But right from the end of 2015, starting from 2016 the government that has set in to power has been government's that's without economic blueprints plan to show for, it has rather been an issue of many failed promises, trial and error policies, spontaneous decision making culture that has shown little or no positive impact on the economy. It's all been a rate race movement since then, as we are basically a consuming nation than a productive economy which is why the country currency will keep falling down in value against the currency of those other producing countries of the world. So it's not basically about printing of the Naira that has caused the fall in value this badly.

This country does not have just one problem alone there are alot of things to hold on to, some times I think the government are also confused as what to do because problems for naija no dey finish.
Where do u want to start from naira inflation, bad economy, the leaders, the security challenge.

Person wey wan survive for this country the best thing to do na to face ur own challenge make sure u do everything possible to make sure there is food on ur table because if u wan reason government matter I swear u no go fit complain finish.
Minerals we get some African countries supposed come  this our country for shade and refuge but nothing now our country currency dey decrease everyday by day.

That's right mate, I also feel that exportation needs to be more than importation in this country, because I know very well that Nigeria was one of the major exporters of goods and commodity in this continent but they lagged and sluggishly let go of every important thought and focused more on importation of goods which has affected the economy so badly and even when the past government tried to stop this by closing their borders the necessary needs to follow up with the actions wasn't there so it felt as nothing and moreover serves as more means to distabilized the country.

Printing money alone cannot be the only cause of inflation in the country, first you must understand the market play, the demand and supply factor. inflation for Nigeria is majorly caused by the rise of dollar as against the naira, because most of the goods we consume are imported into the country and for those of them that import this goods into the country they pay using dollar and once the dollar is high against the naira, they will always add prices to the goods they sell and in turn this will cause what we call in economics a "multiplier effect", that is it will trickle down to the list commodity seller in the country. More like you don't expect me to buy your pepper for 100 naira and you think I will sell my onion for 50 naira. So this market forces are basically the causes of inflation in an economy and most times it can be controlled by government agencies to checkmate the excesses of those of them that just inflate price unnecessarily without any just cause.

When a government is clueless with their economic polies, this can cause economic stagnation. When an economy is stagnant, you will see that their currency will start depreciating in the international market. This can also cause an inflation. So anybody saying that this present government is the cause of the depreciation of the naira and the cause of this high inflation, the person is right.
When a country can not export because they can't produce and only focuses on importations of almost everything they use in the country. This can also cause the country currency to loose value in the international market. When your currency is weak prices of things will go up and inflation sets in.

We can't just depend on what a former governor said about printing of money, during his campaign and conclude that there was a printing of money by the previous administration. Politicians can go to any length just to win the heart of the people to himself. When is the evidence of his statement? Is there any official documents supporting his allegations to the previous government.

Another major problem causing our economy to go down every day, is as a result of bad Government officials and bad leaders who benefit from it based on their own personal interest. Most of these Goods that are imported to our country are owned by them so they fail to make our nations own better. Because I don't see any reason that our electricity is not working, if other countries that Nigeria supply power could celebrate constant electricity supply why we the root are of the opposite. They spend billions on health facilities, our yet they still  go out to foreign countries for medical trips , spend billions on industry but yet they are not working why won't our economy depreciate. Most of these big firms and companies are owned by our politicians they make policies favourable their business in other to gain profit not for the interest of our nation. Tell me what happened to Eagle cement a nation owned cement factory , Ajaokuta still company, industries and refineries in this country that suppose to contribute to our Economical growth. Our former president built an Agricultural farm (ota farm) for him self but failed to do such for our nations growth. Nigeria is blessed with every natural resource  Agriculture,Gold, iron, lime stone, crude oil etc but yet we suffer from things we have in abundance

The major problem to our nation economical syndrome is because of bad leaders who put themselves and interest above the country they serve. Inflation doesn't affect them that's why they don't care. Increase fuel, gas, cost of things etc doesn't affect them because they provide for themselves through the nation treasury.

Well your correct in one aspect because allot are factor of naira fall to Dollar not just printing of naira. The level of foreign investors leaving and selling their asset due to unfavorable policy from the government is much, not also area of our consumption is higher than our production. Many consumables here is imported, and their is not policy to support locally produced goods instead they will run it down by some ethnic politics just to keep improtation base on selfish gain of the higher class. Checking the level of mineral resources we have in this nation and the way will import those products because we can't refine them by ourselfs is painful. Secondly our government did not have any good policy to monitor those who are devaluating our currency through pilling of dollars and paying all their services in dollars, even most of Nigeria companies don't want to be paid in naira but in dollars tell me how won't naira fall even if the fail to print naira.

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.

I checked Naira to a dollar value this afternoon and I was weak for some seconds. People might see it as advantage but clearly, their is nothing good about this currency decline that we are facing everyday because by the time you take ₦100k to the market, you wouldn't have much to buy but in 2019, ₦50k is going to buy you a lot. As the dollar is climbing up, so does entire commodities are increasing everyday and because you earned in dollars doesn't mean our parent and other siblings are earning dollars, they are been paid in Naira and they suffer from this inflation more than anyone.

This is what you get when you net in importation is bigger than your net exportation, we clearly import even toothpick into this country which is why importers are running to FX Market all the day to get their hands on dollars. If we want to stop inflation, it's pretty simple; we need to increase agriculture and how do we do that? We increased security along the rural areas where banditary is going on, we discourage importation of items we can produce here, even the demand of dollar will dropped drastically  because there wouldn't be demand for importation, we will begin to have more of exportation  and inflation will comes down to the nearest minimum.

our government no they ever get new things for us, the thing be say as one they go the next government wey go come go worst pass the one wey they there before, because omo year never go far and people done they suffer like this, and the thing come be say na the same carnival of people they always climb that seat and that is why nothing is changing because they are always doing the same, the problem be say even as we they produce our local food the price still they go up the thing just they surprise me oh and now wey nothern government done place ban on buck buying, the problem be say no be say our government  know the truth oh but they just decide say them wan suffer us, and some of them go pay for the problem we they today.  and foreign people  self done tire for our matter.

Op I do not really agree with you, since the naira redesign cash has been scarce like never before. I do not think is because of the naira printing. To me I have seen it in two areas that our government has caused:
.1 failure to revamp the refineries: if the refineries are functional and we are able to export. I think the cost of petrol which has caused untold hardship will drop and our GDP will witness growth since we can buy without the dollar rate and employment has been created for the teeming youths.
2. Import duties: I live close to A PORT AUTHORITY (ONNE PORTS AUTHORITY). A trunk driver told me the Nigerian customs charge per container the sum of #10m. Ask yourself this question, where are those funds going, when they can make 1bn per day yet nothing seem to work in the economy. Now if you are the importer, how much can you sell those goods you paid #10m for, of a truth the goods will be so expensive. Assuming I have the poweror in government these are the areas I would have tackle first.

The funny thing is that the government sef dem know these things because you no fit tell me say a whole economist and financial head of the country like Nigeria no suppose know how money value dey work ? But instead they choose to make it beneficial to themselves and forget about we wey be the masses and leave the country to be in a situation that has gone beyond repair and I know this is even the beginning because we are getting to a even more worse state than this.

   We no know wetin dey cause inflation,if we ask dem go say na dollar dey rise ,are we spending dollar in country? Y dem go tell us say na dollar, so they beaure de change sef dey complain of shortage,so na wic way we wan go for this country

    Dem say na our local production go make life cheap,say importation cost now wetin dey happen, nobody dey talk again,our oga at the top no see any talk or do,the 36 governors we him invite still no better outcome say him no go allow importation for food but make we grow our local crops.

   The tin be say dem no send the citizens wether we survive or not e no consine dem , because dem no get anything to offer. May God help and save Naija Amen.

For dis Naija mata wey dey ground, pipo dey vex well well about di export and import policy. I get some ideas wey dey my mind and I fit yarn am for dis cryptocurrency forum wey no get any kain restrictions.As we sabi, Naija dey always depend on oil for money matter, but e get as we fit spread our hand enta other sectors like farming, manufacturing, and technology. E go reduce our eye wey dey oil and help us build beta economy wey go last.
If we fix our road, light, and oda infrastructures well, e go bring foreign investors come our side, make trade easy, and ginger economic action. Government fit also drop incentives wey go make investors chook eye for di areas wey need development well well.
But o, e dey important make we shine eye wella for transparency, accountability, and to follow law well. Na so we go fit create environment wey go help development wella and make investors gree put money for Naija.

Printing money is not the only factor that causes inflation. There are many other factors that causes that and many countries of the world have experienced inflation at one point or the other. In simple terms, what causes inflation include production cost, fiscal policy and demand/supply balance. In Nigeria, there is problem in all the factors that causes inflation, that is why we are here today. The floating of the Naira is just one of it, what triggered what is happening now is actually the borrowing and excess printing of currency that happened during the last administration of Mohammadu Buhari, but this does not mean it is the only factor responsible for it.

The frustrating part of it is that there is no hope in sight because Nigeria is gradually heading to a failed state as a result of the failure of the present administration to arrest the worsening economy.

The issue of inflation and currency devaluation is complex, reflecting systemic challenges beyond just the current government. While their policies and decisions play a part, it is not something that can be reduced to a single reason or entity. It is a result of policies being made, fiscal discipline being (or not being) exercised, and of global trends of the global economy. Working together to developing sustainable economic policies, would be the best way to go about not just avoiding, but overcoming significant economic challenges in today’s interconnected world.

If they can't solve the problem..., why are they adding to it. More money have been printing over the years by the past government and things never be as add as this. Dollar never appreciate on daily basis but in this regime, we always see increase everyday. I don't really see over printing as the cause of the problem. What I see are:
👉 Mismanagement of fund
👉👉 Failure to diversify. Why crude oil always. Agriculture can save us from this mess if our government try it out.

Why you say the situation don go beyond repair? As it stands if them put their head for ground think about the country, them Dem go surly come up with good idea. I no know why them just abandoned the country while them dey embezzle the country wattin  o good. Our import rate too much it's hight time we start manufacturing. But everything na their hand e dey, if them start to repair our refineries them build some manufacturing companies, after all we get enough raw materials wey need processing, if we do all these things our currency dey likely to get small value pass as e be now.

Blaming a specific government or administration for all economic situation glosses over the complexities of the issue. Economic challenges from a combination of historical policies, global economic forces and domestic decisions. Its consider a wide range of factors and adopt comprehensive and nuanced approaches to address economic issues effectively. Inflation and currency devaluation requires multifaceted strategies including prudent fiscal and monetary policies structural reforms to enhance productivity and competitiveness investment in infrastructure and human capital and fostering a conducive business environment for sustainable growth.

   The main cause of inflation in Nigeria is the devaluation of Naira because it lead to higher cost of importation fees that spreads through the economy of the nation which will now affects production cost,demand and supply, because of this action,it increases machinery cost, fertilizer and other farming materials for farmers and then increase in food price and other commodities.

   Inflation also can happen when there is a rise in price because of increase in production cost like raw materials  and  salaries  also when there is a hike in demand and services can lead to inflation since consumer will want to pay more for that products.

   Inflation is very high because of the labor market practicing strict economy in 2021and 2022 hard inflation was high at the ratio of unemployment to job vacancies was at the high side.

The removal of the fuel subsidy was the origin of all the problem we are facing in this country. The president made a big mistake by announcing the removal of fuel subsidy without having a proper planning on how the country would cushion the aftermath of the subsidy removal. Things were not this though when fuel subsidy was still in place. If the government can quickly fix the issue of high cost of transportation, things will go back to normal in our economy.

Took me till I got into Economics class to realize this.

In Economics, there are 3 views of inflation and causes which also make up the 3 definitions. These views are ;

The layman's understanding - it is the general rise in the price of goods and services in an economy.

The monetarist view- a phenomenon where there is an increase in the supply of money, making more money to chase fewer goods.

The Economics view- a situation where aggregate demand is 4unning ahead of aggregate supply. I.e more people are looking for what to eat and are demanding meanwhile, little amount of people are manufacturing and supplying goods into the market.

Now you may think, that the cause of the devaluation of the naira currency is just the cause of distortion in the monetary sector of the country. If that was true, things would have gotten better by now. A lot of factors have come together to devalue the Nigerian currency. And there are all bits of these 3 views. Serious monetary and even fiscal policies would be able to save us now... But the government just seems to be sleeping on our matter like we need to go into hell and make a deal with the devil before our country would be saved.

Printing of Naira wasn't necessary and even it was, they didn't pay back the central bank that money and it's the reason why we are here suffering today for the inappropriation, the Nigerian politicians are very wicked and lack human sympathy else why would you print money and then squandered the money meant for public use.

The senate Akpabio.was questioning the last senate president about how 26T naira was use and he said he doesn't have that record, it's a shame that the world is watching these men yet they lied on public offices as if people are not watching them. One of them stood up and said the senate was meant to Approve and not to investigate how funds were spent. This senators are heatless and it pains me that all of them are the same, it's only political party that differentiate them; APC, PDP, LP and NNPP are all the same people running from one party to another, Nigeria is far from been great again.

Why we always experience inflation in our country here Nigeria is because of bad and corrupt government we have here.
Our government has failed to value it own currency which is resulting to high cost of commodity, goods and other things in the country, this has resulted in elevated costs for machinery, fertilizers, and other inputs for farmers, which can result in higher food prices.
Importation of goods and services, exchange rate, wages, interest rate, pump price of petrol, and unemployment rate are significant determinants of inflation in Nigeria in the long run, which the government can still do something about but choose to over look it because it's not affecting them or there generation in anyway making the poor masses go through pains and hardship.

Oga the reason why many people dey blame the new government na because dem no dey actually do things to solve the issues, it okay that the deed has already been done by previous administration but wasn't that the main purpose of the people actually electing you? If we knew that they would be this incompetent then no Nigerian would have actually voted them in power well I no blame them as them  actually buy their way to the top nai make .

You dun talk am finish, an economy of a country no go just collapse, na from previous bad decision wey the past government dem take and the follow up bad decision wey the current government dey take na wetin the cause an economy to collapse. But sha no matter how bad the pass government been be if the present government sabi wetin dem dey do dem go fit keep the economy moving even if the economy no strong e no go collapse as Nigeria economic dey collapse so, but because dem no get clue of anything to do and dem no dey do anything self na wetin make the economy dey go on a free fall.


Lack of production follow, lack of utilization of our national resource to boost the economy of the nation follow too. No be just one thing dey cause this economical disaster wey we dey face so. If you dey observe eh no sector ran by the government dey work. We get clueless leaders and until we get our electoral process right we go continue dey face problems like this. Make we elect leaders wey get vision for the country, make dem give us manifesto on wetin dem go do differently, make we dey hold mandatory debate and person wey convinced us get our votes and no be this party something wey we dey vote so dey deceive ourselves.

This what I am saying, this government no get any plan, that is why you go see say they are not making anything effort to make things better. It is as if governance is too heavy for them and everything is sinking in their hands, this government don't even care to do anything for the masses, they never had plans to work. What they are concerned is with is to be in power thst is why they can do anything to retain in power as much as bribing the electoral commission to just do what they like.

E get some tins wey dem do for di past like printing money wey fit affect di economy long term. Blaming just one government for all di wahala we dey face fit too simple. Di relationship between government policies, how money strong, and inflation, e dey complex and different factors fit influence am over time. E important to look at plenty economic factors, like how government dey spend money, monetary policies, how di global market dey behave, and di problems wey dey inside di economy when we dey analyze inflation and how money strong.

Well spoken op the printing of new naira notes by the past administration really facilitated on this inflation because it reduces the value of naira as the day goes by.

Nigeria economy is built around the oil sector which the price of dollar is one the major factors that influence its rate. the current administration might be fighting secretly to reduce this economic crisis but i will advice them look properly at other sectors of the economy like the agricultural sectors, going back to our cocoa plantation ,coal mining ,limestone and so  many more because Nigeria is actually blessed with so many natural resources .

in addition ,another way to reduce this economic crisis is to stop borrowing, and reduce the rate of importation, build refineries in the country instead of exporting crude oils and also going back to buy the finished products(fuel,diesel,gas) because this will also help to reduce illegal refining of fuels which also cause environmental hazard.

lastly, they should also reduce some of the unnecessary allowances giving to politicians and use the money to build social infrastructures ,so that nigerians will have the need to enjoy social amenities .

It might not be the main reason but it's a very strong reason (if not the major reason). Even if we fix the ones, you mentioned above. If the printing doesn't stop, we'll still be having similar issue. This is from my research though

We have talked about this before and I also concluded that printing of more money in deference denomination and also in new currences is this cause of the inflation. Let me break it down according to my understanding, the value of any goods or commodity is scarcity. When anything is relatively scarce it now becomes expensive and also valuable but when it's everywhere it becomes much and no longer valuable. Just as some shitcoin or altcoin may have a total number of 100billion is supply and 80bilion in circulation, that is to tell you that it will be difficult for such coin to be worth anything because 1 of it may find it very hard to hit $1.

For example if  #1000 was not created, our highest curency would have ended in #500. And other lesser value like #5 and #10 will be appreciated. But due to the printing of #1000 note has made other smaller currences not useful.

Another one is demand and supply. The demand is high and the supply is low. There is drastic increase in demand of commodity but we lack production. These production is difficult as a result of the inability of people to afford the production equipment. Now we talk about farming most people love farming but do t have the capital to enhance there farming business. Due to this most rice produces in Nigeria are not that good because the tools needed to make rice farming lucrative is not there, so they do it there own way.

Thee is less exportation and high importation. Nigeria are more of consumers than producers and when you don't produce anything as a county but always consume, you'll end up enslaving yourself to people that sell goods to you. because you only depend on them for feeding. and if they can't produce anymore you'll die of hungry and you must adapt to any price they give to you. Because you depend on them. So I think this points are the reasons why we suffer in this country.

Your point could only be one of the reasons why the naira looses its value including the falling of national economy.
Just as you said that the past governments has been printing excessive monies, mark the word "past governments", if by so doing as the cause, does it mean governments after governments increases the number of monies they prints? Because as the case maybe, the naira looses its values and the economy rate falls by governments after governments.

Let's get this out on a buttress, does it mean in just few months that Tinubu has just been on seat he has printed over what a kind of the past government of Buhari has printed in over 8years of his tenure? Because in this short while of Tinubu's government, the cost of living has multiplied in folds and we are yet to experience more as time goes
I am not in dispute that this could be one of the reasons but let's not relax blames specifically out of the money printing cases.

I personally feel this is also concerned about the failure of our federal government to incorporate with the foreign economy sectors.
Let's also look at the monopoly governances whereas only a specific investor is permitted for production depriving other investors to enable the industrial system being competitive to produce quality and affordable products within the country instead we either relies on one investors products or importation of foreign products.
Even at the foreign trades of importation and exportations seems difficult for our local investors considering the border conditions where being shutsdown while some of our local importers are being deprived from letting their imported materials in and even if succeeded bringing them in to the country, the importation charges would be so high that the Investors would want to cover their capitals and also make incomes by setting their products on a higher purchase.

Why can't we have standard infrastructures to attract foreigners to partner here with us or classes of infrastructures to attract foreigners with greeners pastures within our localities?

Imagine us with substantial educational and medical infrastructures and the lack of tourism centres, these are what the government can structure and installs in this country to attract economy growths to our societies and by so, our currency would be valuable.

In essence the government is only being selfish while in power of governing authorities.

If we're a sane countries, Buhari would be in jail right now but because his party are protecting him and trying to protect the lineage of the north, they don't want to do that because he is one time retire General. How can a siting president signature be forge and money was withdraw from the central bank and people want to say they had no idea when that was done, he approved for the printing of Naira he had no idea about, that man lack accountability and that's where our problem started from.

We need to mop the excess money in supply and the only way to do that is to arrest everyone involved in printing of the Naira including Buhari and his family he appointed for the printing of the Nigeria currency. If EFCC were to do there job correctly, everything will be restored back to other bit we know them, they will rather chase yahoo boys with $100 gift cards than probe politicians.

Na our government na e be the major cause of inflation way we dey face now for naija, the prices of things are high, our currency is valueless because we are in a failed nation, a nation that has high rate of unemployed youth what do we expect? A nation where we have high level of importation they also went ahead making 1k to be our highest currency if 200h was to to be our highest currency I don't think we will experience anything call inflation.

I also noticed that when even wages in been increased price of things will also increase leading to inflation, and also when ever the price of transportation increases due to high cost of Petro you go see say prices of things go increase too because those commodity, the goods are also been transported. Our government is the major cause of inflation we are seeing here for naija.

This matter is just a simple truth about Life, that consequences of a thing must not occur immediately but after some time. Last government policy and politicizing every issue that need argent attention is the curse of most  problem today.
Printing of naira would have been given attention by all sector but neglected it because of politics, even the issue  of insecurities and kidnapping which is making most of our farmers, and investors not to have good production would have tackle with device but we see it as joke and ethicity issue until all this is tackle expecting Naira to rise or current government to do all with immediate effect is waste if time because everything have it time.

I was taught in my heydays at secondary School, most probably in class three far back 1983 in ECONOMICS class that whenever the government of a nation engages in fidiciary issue of money, it would lead to inflation, for it is not backed up by production of goods and services.
Yes, past and present governments are guilty of such over printing of money, and this has brought the nation to such hopeless state of affairs.
Again, liberal economics has proffered certain solutions to such situations as to mop up the excess money from the public in the following ways;
1) the central bank to higher the cash deposit ratio with the commercial banks
2) the sales of treasury bills to the public
3) specific directives to commercial banks by the central bank to deposit certain amount with them.
But above all these, the government of the nation Nigeria could instigate massive production of agricultural crops to curb this menance. The moment this is done, the prices of food stocks would come down drastically.

OP I disagree with you.The inflation is a complex matter and influenced  for various reason beyond just money printing. The reason of inflation side factors such as decrease of foreign Investment, consumer spending and internal speed less trade. Resource availability, production cost and policies of government also play significantly. On the other side economic policies as fiscal and finance, global economic commodity and trade prices are also influence the inflation.

Don't mind OP, this inflation is more than what he's talking about. Inflation is a general problem in the world recently but just that ours in much. Price just keep increasing everyday. But what does OP expect in a country where they lack basic amenities, where they depends on oil and this natural resources are no more valuable compare to before and country where our leader keep borrowing money from abroad and later embezzle it. The present Government still has some role if he decides to control inflation.

Printing of money is not the only cause of inflation but their are other factors,  but printing of money is of the major cause that can make the currency of a country to lose value drastically. And think this is also one of the reasons why the economy is seriously sinking this time. Normally before now the economy have not been in a good state because of mismanagement of funds and too much expectation.  When a country currency is not valuable compare to other currencies that means the country is going to experience tough time.

The rise in money supply can cause inflation through banks. When they purchase financial resources, the proceeds flow down into various parts of the economy. Inflation can also result from supplier interruptions, such as shortages of labor. Inflation is also caused by a boost the demand for commodities and amenities, or when the money in distribution is not enough to reach everyone, such as during the cashless period, when getting money was difficult and we even had to spend money we didn't have. That period was really a hard time for us to really survive but God come through for us. All these are causes of inflation.

Buhari messed up actually, buh a country that its judiciary is as good as dead, you don't expect anything better. Most of the things we experience now were instigated by his rule, miss especially that money reprinting policy that brought the new notes and maintained the old notes. Not only did they use that medium for series money laundering, but they put the country in so much crisis resulting from the inflation we experience today.

Tinubu on the other hand isn't a good economist to manage the situation properly and the whole thing is resulting in the terrible mess we find ourselves in. Until they find a way of curbing this inflation. I fear things are destined for further degeneration.

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.
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.