Physical gold you own is regulated by your local market, Paper gold and ETFs is regulated by the market of the country it issued in. If governments want to they can make gold non-jewellery ownership illegal on the personal and custodial ownership level and force you to sell it to them or worse take it without compensation.

Nigeria being an oil country sits in a tough position, these are naturally inflation heavy economies since the were enjoying exports of their oil so they could be hit hard first, when compared to other countries with a more diversified market