Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,166,647 members, 7,865,598 topics. Date: Wednesday, 19 June 2024 at 09:24 PM

Cost-push Inflation In Nigeria;what The Government Need To Do - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Cost-push Inflation In Nigeria;what The Government Need To Do (223 Views)

Inflation In Nigeria Climbs To 26.72% In September 2023 - NBS / Prices Of Bread, Gas, Fuel Others Jerked Up Inflation In March – NBS / Food Price Inflation In Nigeria 2021 (2) (3) (4)

(1) (Reply)

Cost-push Inflation In Nigeria;what The Government Need To Do by coputa(m): 12:04pm On Jun 23, 2022
Nigeria is presently experiencing cost-push inflation;The continuous rise in prices of goods and services due to constant rise in the cost of factors of production which producers and manufacturers factor into prices of goods.The increase cost of production like rise in rent,electricity bill,fuel,interest rate and cost of raw materials can only be offset by higher prices,the rising cost force producers to continually increase prices. HOW THE GOVERNMENT CAN NIP IT IN THE BUD The government should identify items with high cost;in the case of Nigeria,imported raw materials and finished goods into the country with the high exchange rate has greatly affected prices of goods and services.They should substitute raw materials with cheaper ones(local)and encourage entrepreneurs to set up import substitution industries in critical areas like;textiles:tyres: spares,pharmaceuticals etc.this will increase high productivity and output per person will rise at which cost per unit rises.
Re: Cost-push Inflation In Nigeria;what The Government Need To Do by coputa(m): 12:14pm On Jun 23, 2022
Another area the government need to act is in the areas of ''high interest rate'' from banks,many industries has packed up because the interest rate of borrowing from our banks. It is neck breaking coupled with the scarcity of forex in the parallel market.If goods are produced at relatively cheap rate,prices will definetly go down.

(1) (Reply)

INEC Shares Conditions For Political Parties To Substitute Vice-presidential Can / This Is How Tinubu Will Improve Our Educational System ( Video) / Enjoy Your Social Media Frenzy, Apc’s Ajaka Tells Peter Obi, As He Says Boys ...

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 8
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.