Why Cost Of Living In Nigeria Remains High Despite Naira Gains
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- Опубликовано: 24 авг 2024
- Earlier this year, Nigerians saw the free fall of the Naira against major world currencies and continued its downward trend as experts had predicted in 2023.
The Nigerian currency lost its value in a historic dip that surged the prices of many household consumables and crippled the manufacturing sector.
But in the last few weeks, the Naira has made a significant comeback so much that it is said to be one of the best performing currencies in the world.
Gist Nigeria's Mercy Frank speaks to Experts to find out the fundamentals behind this unprecedented value gain and what it means for Nigerians and the economy.
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I still wonder why we should celebrate Ñaira when its selling at above 1200. Thi Govt met Naira at 700 per dollar
They met it at 460 please
The federal government needs to reduce the import duties on fertilizer simple then price control can take effect
Because it artificial increase in first place. Our people are greedy.
Yea people are greedy but the politicians and government agencies are messing up this country big time. Please ask Nigeria custom why they have not reduced increment in import duties which they increased up to three times this January. So you expect someone who paid heavily to clear his goods to reduce price without making his profits.
See if you know the kind of corruption going on in your government agencies, you will weep for this country.
The government need to setup an agency who takes charge of price control