Topic: How would normal Nigerian survive naira inflation (Read 246 times)

coping with inflation, especially in a this country with fluctuating currency values its an herculin task to handle and it its challenging, one viable solution to this is seeking multiple streams of income and also investing in assets that can counter inflations. In this current times considering buying and holding stable foreign currencies can be of great necessity.

With the all said and dones, the only assets or investments that can beat inflations are the real estate investments. Bitcoin, the traditional currencies and of course the stocks do encounters inflations.

With the rate of inflation for the country, people wey dey earn in foreign currencies or cryptocurrencies no dey really feel the heat, them fit still change their asset to naira use am run one or two. For people wey dey do meager jobs and wey dey earn in local currencies na their side e red. As things don increase for finish for market, their salaries no get value again. Just small thing wey dey go buy money don finish. My advice na to invest in foreign currencies wether na dom account or crypto, no matter how small the money wey dem get be because the naira go continually dey fall.

I no go lie for u OP, if not b dis Bitcointalk.org man for see pepper for yansh for dis strong inflation and e for hard for people like us to finish school easily without problem of school fees but through d little money i saved from signature campaign helped me to graduate successful without any problem with any lecturers and, if you look at d hardship that is affecting people in the country, you will know dat God use dis platform to blessed us.


Now dat Many top politicians are talking to d government to end d hardship before dey will begin to see d youths visit in all the states for d hardship issues dat is affecting d citizens, I believe government will do something soon to eliminate d inflation.

Bitcoin is a good way of making profit and in this difficult time of the country bitcoin can only help if people are willing to make long-term investments.  Instead of leaving their money in the bank which will definitely lose value over it is better to invest in bitcoin for sometime which will bring profit. Bitcoin is a good store of value if people are willimg to invest their money in Bitcoin than keeping it in the bank.

Acquiring Landed properties na the quickest solution wey come inside my head. Landed propertied especially land na the best way to fight this inflation wey no get to do with online but manual. You can't go wrong with investing in land because land dey always appreciate and the value of your investments go always increase. As you buy land and development come the place, e no matter how small the developments be but e go still add value to your land. You fit hold land for as long as you like until you dun get the value wey you want for the land. You fit also lend am through leasing out the land and they market money from rental payments while you still own the land.


Dollars money no dey suffer inflation for Nigeria, globally e dey suffer but not when you compare am to Naira. In the last 5 years dollars dun increase like 4-5x times wey be say if you been get $1 you go dun get like 4-5x of your money so dollars no dey inflate for the country but e dey give better profits like an assets and that shows how bad the economy of the country has been. If you no sabi crypto e go make sense make you go learn am today and start dey invest inside Bitcoin because self to get dollars dis days no be here so investing in Bitcoin na just the best options.

Dear op, you should also have a personal answer to the question, bitcoin as a store of value has helped a lot of people  hedge against inflation. Although Not every citizen will adopt bitcoin investment so it's likely people like this will find other alternative.
Let me answer your question about the inflation and I personally think people will get involve in different kinds of job that pays quality, some might start up a new business etc. I don't know about your area but in my area people get involved in different kinds of business just to earn. Inflation in Nigeria is not a new thing and citizens always find a means to survive.

Before now our country don they like this, no be today we start to they suffer. And we don dey survive. I know see any length the inflation wan reach wey be say we no go survive for this country. And OP, mind you there is nothing like normal or abnormal Nigerian. As the poor they suffer like this na so the rich they complain because people no go get money to they patronize them again. Everybody they go through the same wahala and na only God go fit help us individually to scale through.

If you like they there dey play, everyday people they japa go another country. Because dem done know say na the only way to escape from the torture of poverty. Ah know say some persons go say even if you travel go outside you go still struggle for there before you survive. My brother e better pass say ah they struggle for country way the government no they so corrupt at least one day you go come out of the struggle. My country wey i know. As man they struggle na so the struggle they increase every day, till person die him fit still just they struggle they go.

I get some reason why i tell you say outside better. For example now, the price of things increase because of inflation if na other countries when the inflation reduce small the price go back to normal. But since dollars increase against naira. The price come drop small i notice say during that time the price of things no still come down instead e they increase the more. Nothing for here wey go go up fit come down. And na we they cause am no be even government sef. We they take advantage of the price of dollar dey use they cheat our fellow brothers and sister. Everybody na opportunist for this country and e they bad.

It is obvious that the economy inflation is affecting the nation but that does not guarantee that everybody that keeps his money in Bitcoin is safe from inflation forever. Please don't think that Bitcoin is place where every body makes profit during inflation. Bitcoin investment is an investment that requires a long time expectation. Not just a quick way of making money or presumably that all people who are into cryptocurrency are rich. The concept of Bitcoin journey is holding for long to achieve your goal not a place to putoney and make profit always except for traders

When choosing a store of value, you must be presise wether a short time or a long time. If it's a long time investmet it should definitely be bitcoin but If it's short term investment then you cans just be doing normal buying and selling either online or offline then money made from it can be use to invest on bitcoin as long term investment.

First of all to survive na must so believe me ways must surely pop up and besides this na Nigeria, the most populous and industrious black nation in the world, we no dey two so forget about how people go take survive and believe me the Bitcoin way you dey call sef might not be the first instance to what people will use to guide themselves during this period so I am very certain that naija go still dey grove to the matter.

As of this time wey I dey write this post things don high like mad and the inflation and dollar increase don dey really get hin effect for the country but still on still things and life must move on as normal.

You are right my brother, you know say for this life, no be waiting you get na E another person go get and we no fit survive in the same way, yes bitcoin na better thing wey everyone suppose deal with because he dey really help very well, but you see as Nigerians wey we be, we get many ways wey be say even thing's price high we go still chop, that one dey one of the best thing wey make me like naija be that, naija na country wey be say no matter how government treat us we go survive, so make him no think the way him dey think am, many people dey naija wey be say even if you try explain for them from today till next year about bitcoin they will not have interest in it, him fit get money make him still tell you say him no get money to do all this kind stuff.

Exactly. We'll survive. Although they're messing up our economy regardless we'll survive.

This topic sounds very funny to me as you asked how would normal Nigerian survive the naira inflation, moreover both normal and abnormal people will and can always survive the hardship in our country.
There have been some years back when things where worster than how it is not, but we just have to put ourselves busy by doing something that's worth profiting.
The only abnormal person is one who's not doing anything to survive but putting all his mind to get free money, you must have to work before you can get money, when you are not working tell me how you get money that's not possible that's why when I see this topic I didn't care to read the content in it before makeing this reply but I think the only person who's not normal is a personal who's not working but depending on free money when he or she already knows that the country is hard as day passes by.

This naira inflation na God hand he dey but as Nigerians is in our DNA to survive any weather.if snow like make he start to fall for every were for Nigeria we go survive.this inflation has been happening from our fore father's time but was growing gradually.till our time,the matter be like say we want die.nigerians we survive in all weather if dollar like turn 3000 per dollar we go survive.no were Nigerians no fit survive,if them get chance go Pluto them go survive 😂things we just keep going up, nothing wey done go up for Nigeria wey don come down make ONA check am.i started buying a carton of chicken at the rate of 7500 now na 35000 were we dey go like this no hell fire...

All Nigerians cannot do crypto, for me it is highly unachieveable. This is not the first time that inflation is hitting us as a country neither will it be the last. The best thing to do in this situation is to make sure your money is being utilize to do business. Don't store your money in the name of saving it in a bank or piggy vest. Use your money and run a business, because you will be buying and selling according to the present market price, this way your money will appreciate.

If Nigerians can be more aware of the Bitcoin technology, that in itself will go a long way in alleviating poverty in Nigeria. How I wish the advocacy that we are making about the adoption of Bitcoin would go through to the highest level of government, so that governments can take accurate decisions that will promote the adoption of Bitcoin amongst average citizens.

For a country like Nigeria with an over bloated population, having alternatives such-like enriching of people with the knowledge of cryptocurrencies like bitcoin, it will go a long way to solve some of our problems because some of our traders can even start to convert their money into either usdt or other stable coins and that alone can help them in at least keeping the value of their savings intact.


Well as a fellow Nigerian I can't agree less with you. I can say that we Nigerians have a thick skin to withstand whichever situation that we find ourselves as a nation at that particular time but the truth of the matter is, that shouldn't be a yardstick to the reason why we would continue to suffer as a nation especially when we see our leaders enjoying and flamboyantly living in a life, while we are suffering to put a meal on our table. Things have to change. Because we can easily adapt to situations or realities on ground doesn't give them the opportunity to infest more wahala on us.

According to Hooke's law in physics, the strain of a material is proportional to the applied stress within the elastic limit of that material. Meaning when an elastic material is being stressed, the molecules and atoms in that material deforms until when the stress is applied fully and when the stress is removed the elastic material comes back to its initial form. But at the same time, when the elastic material continues to get more force and energy being applied to it, it gets to a limit that it cannot withstand it any longer then the stress breaks the material.

As of yesterday, in Niger state, Nigeria, people went on to the street to protest on the issue of food hike and other commodities which is one aspect that signals to you that everything have a limit and it's only a matter of time but when people are over stretched to their limits, it will result to a backlash that we may not be able to bear and all this things happen over time, they don't just happen once.



What is impossible does not exist and that is the kind of philosophy that I have. But on a brighter side, every issue has a solution to it. Being it a fast solution or a delayed solution. Life is a marathon not a sprint race. And the beginning of every problem is taking a little step towards solving it so we all can be instrumental to the adoption of Bitcoin in our various Communities and we can start up campaigns that advocate the benefits of Bitcoin so that people understand what it is.

Omo as e be now, e don red oo. The inflation just dey fly so tay even people wey dey abroad dey feel am say the cost of living just dey high.

The people wey e dey affect pass na those wey na only one source of income dem get and those wey dey work for government or wey na only salary wey dem go still owe them dey expect. Till now corpers never receive alawee and government workers still dey expect payment ontop the inflation oo.

Business people now still better pass people wey dey collect salary because you sell as you buy.

The way to store your money na to buy properties because that one go still appreciate as time dey go but say make you go keep money for bank na cruise oo.

Inflation is sure hitting not just the Nigerian Naira but also other currencies., the inflation has proven to be a global pandemic that is eating really deep into every country's economic reserves. I wouldn't say that the case of Nigeria is the worse because I'm pretty sure that despite our poor economy, there are so many countries that can not be compared with us, because we are far better than them so our case isn't the worse.

Now there are other ways a Nigerian man can survive the inflation that's infested this country asides crypto.
1. Have several sources of income: by having several sources of income, you'll be creating so many streams for money to come into your pocket, either daily, weekly or monthly, that way you'll be accumulating more money Rather than depending on just one source of income.

2. Start earning in Dollars: Thanks to the digital age we are in now, we can still be in this country and still earn in other currencies, there are lots of ways one can work and earn in dollars online without even leaving the comfort of your home. Yes, inflation may also be hitting the dollar too but it's much more valuable here than it is there, right now, a dollar is almost 1,500 naira, so just imagine having a job you're been paid 500 dollars every week or month as a Nigerian man, imagine how helpful that would be for you. The value of $500 isn't the same there as it is here, it may not even be enough to buy groceries for a week over there, but over here, it's a huge money.

See my brother, make nothing surprise you for naija, we are built with steel naturally, and secondly i no too understand wether you dy ask how Nigerian dy take survive or wetin dem need to do to take survive this inflation, if na wetin dem need to do, to take survive this inflation, I don talk am before, and I dy very clear on that.

As a typical Nigerian wey sopos work smartly, try as much as you can to dy earn in dollars, any business wey you need to do wey go make you earn in dollars bro do am, because if 100dollar dy pay ur bill before, today e go still pay ur bill, because before 100dollar na 75k but now 100dollar na 150k, so try to earn and save in dollar to lighten ur burden.

Actually Nigerians are going to survive no matter what, let me enlighten you a little bit. did you know that even if you're not part of Bitcoin you would have survive the inflation? yes because we are build that we. Nigerians can survive anywhere in life so this inflation is just one of the things that Nigerians will survive. there is a popular quote that says "No matter the price of rice we go still chop" you what that means? no matter the situation we will still survive and the situation in the context is inflation.

Although Bitcoin would have been good to rescue us but not everyone will be part of it. So right now there can't be a specific or fastest as you said solution to this because of so many reasons and the reason are rooted deep down so it's hard to uproot them but we will surely do that.