Inflation & The Nigerian Redesign Naira Policy

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In the last year, the Nigerian economy has fallen short due to the policies they've made regarding the currency, creating more value for the naira as well as restructuring the economy to be better placed for its citizens. In this video, I talked about the two biggest prevalent economic issues in Nigeria and how they've affected the lives of regular people.

I talked about how these policies were aimed at giving making the naira better at all costs, but because of improper planning, the policies went ahead to spiral into other sectors and created massive turmoil in the finance sector. I talked about how corruption stems more at the grassroots rather than the top.

I explained how corruption creates a snowball effect in the Nigerian systems. I explained that inflation can be most talked about at the grassroots by the proper regulatory policies.

At the end of the video, I addressed the ultimate maker of policies that influences the most important aspect of the economy and why they're the personnel that needs changing.



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22 comments
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The recession is in every part of the world but the corruption is really making the recession to drain us here...

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This really didn't emphasize recession. In the video, it was mainly about government policies and their adverse effect.

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Rightly said, government policies should make an strong environmental behavior about being best polices.

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(Edited)

Not only Nigeria mostly African countries are struggling economically, what is behind this how is that possible all countries are going through same condition, it's not happing in any other rigion , we don't even see a single country in Africa which we can say is a develop country

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There's no country struggling as hard as Nigeria in Africa. Check with the local people, do not consult with information on Google. People here are literally dying due to government policies.

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I remember when we had the naira redesign. The government will say one thing and the bank will do their minds. It was crazy and incompetent was screaming at us and we kept paying attention to mundane things.

I agree that government needs to employe competent people in the public sector and then the private sector should to work hand in hand with the government to bring the change

I am not seeing that happening because greed and the need to make profit won't allow those two parties to work together.

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The public sector is corruption, the private sector extorts people. The banking system in Nigeria should arguably be the worst in the world. They have some of the most useless policies I've heard of. TBH I think it boils down to not having qualified people. Emefiele is a failed CBN governor because I feel he's not truly qualifed at all.
This country looks like it won't work, just like you've seen, I've also seen too. There's no way anything can work. We've ended up electing another deadwood again, so help us God.

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(Edited)

Lol. Governor Emefiele always making think if he actually passed through the falls walls of financial education and economics 😩

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Banks are the most corrupt. I don't know where you live, but where I come from, banks were very wicked to us during that period.

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I don't think he's qualified as he's more of a dunce. Having all the degree doesn't make one eligible or qualified for a job as the central bank's governor

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You see these three things: greed, incompetence, and exploitation are what is causing this havoc in our country. The government because of greed and lack of competency cannot enforce a law they brought and before you know it, things get disorganized, making it look as if they cannot make a good decision which could better many things for everyone. In the end, we are the ones to suffer for it.

How does one even tackle or stop corruption? I bet, there is no solution to it now because things will keep escalating and the issue of currency and inflation cannot be resolved any time soon.

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We could have be able to tackle corruption if we voted the right people. It's human beings who make policies. the ones we have in power are monsters if you ask me. I said it at the end of the video. We will keep spiralling into a huge snowball, if people do not change and vote in the right people. The corruption also lies within us..

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Something similar happened here are few years ago. A new government was instated and the president redesign the money removing the face of the former president and putting his face there. This politicians can be very petty at times. During the process the money diluted even more and there are constant reports that the central bank is tinkering more with the monetary policies and supply.

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Hahaha you mean the man put his face in the new redesigned currency? That's totally terrible

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Lol yes. That's what he did on the new currency. Their ego's have become disproportionate.

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Nigeria and the worries attached. Governments and banks did us so well during the naira design palava. And you are right, corruption is at the root and it has bitten us so badly.

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Banks are the most corrupt. I don't know where you live, but where I come from, banks were very wicked to us during that period.

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We have so many incompetent people in almost every sector in Nigeria both private and public sectors are always making terrible decisions. Sometimes I don’t want to think about Nigeria it scares me

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Nigeria already scares me from the beginning. When we look at the constitution, we cannot find a single policy that will indicte politicians if they didn't rule well. Now we've ended up voting wrongly in this election again.

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