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Timi Olubiyi urges investments as way of stemming excessive impact of inflation on the economy
The coronavirus (COVID-19) pandemic so far has negatively affected the global economy and more severely developing nations of Africa, particularly Nigeria. The COVID-19 has been devastating in terms of the impact on Nigeria’s economy, businesses, and households and still not looking abated. We have seen a troubling trend in the country in recent times, with, businesses and activities today facing increasing levels of competitive pressure and difficulties, coupled with persistent insecurity, and inflationary pressure where high price increases have continued in transportation, food cost, household needs, raw materials, pharmaceutical products, motor cars, vehicle spare parts, equipment, and in prices of services amongst others. The cost and price of virtually everything is much higher today, and it is because of inflation.
Inflation PHOTO: Shutterstock The Coronavirus (COVID-19) pandemic so far has negatively affected the global economy and more severely developing nations of Africa particularly Nigeria. The COVID-19 has been devastating in terms of the impact on Nigeria’s economy, businesses, and households and still not looking abated. We have seen a troubling trend in the country in recent times, with, businesses and activities today facing increasing levels of competitive pressure and difficulties, coupled with persistent insecurity, and inflationary pressure where high price increases have continued in transportation, food cost, household needs, raw materials, pharmaceutical products, motor cars, vehicle spare parts, equipment, and in prices of services amongst others. The cost and price of virtually everything are much higher today, and it is because of inflation. Inflation is not only a serious problem but also it has a disturbing effect on the economic life, political system, and society a
Inflation PHOTO: Shutterstock
The Coronavirus (COVID-19) pandemic so far has negatively affected the global economy and more severely developing nations of Africa particularly Nigeria. The COVID-19 has been devastating in terms of the impact on Nigeria’s economy, businesses, and households and still not looking abated. We have seen a troubling trend in the country in recent times, with, businesses and activities today facing increasing levels of competitive pressure and difficulties, coupled with persistent insecurity, and inflationary pressure where high price increases have continued in transportation, food cost, household needs, raw materials, pharmaceutical products, motor cars, vehicle spare parts, equipment, and in prices of services amongst others. The cost and price of virtually everything are much higher today, and it is because of inflation.
Savings, investments, and economic growth amidst inflationary pressures
By
Wed May 05 2021
The Coronavirus (COVID-19) pandemic so far has negatively affected the global economy and more severely developing nations of Africa particularly Nigeria. The COVID-19 has been devastating in terms of the impact on Nigeria’s economy, businesses, and households and still not looking abated. We have seen a troubling trend in the country in recent times, with, businesses and activities today facing increasing levels of competitive pressure and difficulties, coupled with persistent insecurity, and inflationary pressure where high price increases have continued in transportation, food cost, raw materials, pharmaceutical products, motor cars, vehicle spare parts, equipment, and in prices of services amongst others. The cost and price of virtually everything are much higher today.