HELLO friends how are you all doing.I live in Nigeria in Aba,Abia state and in most states in Nigeria undergo similar difficulties such as insecurities,pollution,increasing cost of living with decreased income earning per individual which make life as a Nigerian very difficult.Considering the prices of commodity then and now there is a alot of difference.few years ago fuel or petrol was bought at 65 naira that is 0.076 usd and now fuel is sold at 650 naira now that is 0.76 usd.
Dollars influcence to the global market and currencies make things even tougher in my country with 1 dollar which is equal to 1200 Nigerian naira
The exchange rates and the exchange market are going sky high.
WHAT THE CHANGES MEANS FOR US (NIGERIANS)
This changes makes life difficult as alot of people cant live up to the standards.The prices of goods and services change drastically,you may have bought an item for 300 coming to buy it again the prices has be elevated to 350 0r even 400 this is really a problem cause not all have that certain amount and most individual are self employed earning about 5000naira which is 5.81 usd. The income earned is low as some are married with kids to take care of,rent to pay,school fees, clothing and food which isnt enough cause of the overall general increase.The Nigerian economy is typically classified as an emerging economy: an economy that is transitioning toward modernisation which the country and its individuals are not ready for yet.
SOLUTION
So of these problems can be avoided or reduced.How???
Spending available resources more effectively and efficiently. Nigeria needs to utilise its available resources in a more efficient and effective way such as spending more on critical public services to achieve its social and economic development objectives,these objectives when properly outlined can help solve some of the problems we Nigerians face not only the government but the individuals as well need to work together to achieve their goals
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From @bummblebee