This is the increase in prices and fall of purchasing value of money.
Inflation is a global problem not just here in Nigeria alone, i believe some time ago i read of U.S being hit by inflation towards ending of last year and this year too.
But let's talk about Nigeria, our country. Without the surge of prices in goods and commodities, we are already facing hardship due to bad governance + the recent inflation.
Adding this two together can make anyone living in this country loose his/her senses.
Believe me nothing makes sense here in our country again, forget inflation for a minute, how about fuel scarcity currently tormenting the entire nation? Crude oil is Nigeria number 1 natural resources from where fuel and other petroleum products are gotten from.
Yet we export crude oil and then buy refined fuel from the same people we sell crude oil to, I mean does this make any sense? We can't the government look into refinaries that has been established and get them fucntioning? So won't have to buy petroleum products outside.
Bad governance and lack of infrastructure is our major inflation in Nigeria if you ask me. If we can make judicious use of our products, i don't think the inflation would eat deep into our economy, currently Nigeria inflation rate is around 16.17%.
We have good economists that can help us deal with inflation and plan our economy ahead of things, these great minds are here in our country but we don't recognize or develop talents and knowledge we have. Rather keep coping the western world and end up messing ourself up when they already use our best brains over there. Chaii 馃う馃徎鈥嶁檪锔廚igeria my country.
Economics isn't my area of specialty but there are thousands/ if not millions of best brains wasting that are experts in economics that could help reform our economy.
I wonder if there is going to a better government that would come and reverse us from this collision course we are locked in.
Imagine how much we would save and how many employment opportunities we would create if we can get some of our factories that the past governments has established working again? Like the Golden guinea factories, refinaries etc.
If we keep consuming products from outside our country, buying everything from China and U.S etc. We will keep rise in inflation in our country.
So in a nutshell, we need a better government to rekindle our factories , facilities and so on, create and employ great minds to manage and strategize our economy, then and only then do we have a chance against inflation.
If not we would keep heading for a rollercoaster ride.
personal impact is a different story, because i don't know where to start from? Is it fuel, sachet water , food stuffs , transportation or what self?
It's a living hell, it pains to remind yourself of all these because you might decide to take your own life.
Sachet water is 3=#50
Gas is 1kg=#800
Transportation we normally take #100 is now #400
If we enter clothing aspect then i want to dig my own grave because it's morethan 2 years i bought a t-shirt or trauser last for myself.
Abeg i rest my case, my mind don dey boil self i swear.
Thank you and have a nice evening.
