The cause of inflation

[Y3shot]

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.

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[Charles-Tim]

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.

[Y3shot]

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.

[Hyphen(-)]

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.

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.

[OGsmall]

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.

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

[Majestic-milf]

 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.

[Davidvictorson]

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.

[Gozie51]

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 

[Lida93]

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.

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.

[Bright0515]

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.

[DaNNy001]

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.

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.

[Spaceman1000$]

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.

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.

[7juju]

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.

[Kliss]

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.

[Uhwuchukwu53]

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.

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.

[Promocodeudo]

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.

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.

[Antotena]

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.

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.

[Baki202]

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.

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.

[Nangiconference]

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.

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.

[Jaycoinz]

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.

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.