Topic: Inflation in Nigeria (there must be a way out) Bitcoin is also a way out (Read 89 times)

Yes, my oga @ryptopreneurBrainboss, you talk true talk for this matter, we know say as this country dey so, if the government make bitcoin investment legal tender for the country e go help many citizens mostly the youths but that one no mean say the country economy go good just in a twinkle of an eye.
As we all already know how the political system they very corrupt even if we as citizens try our best to change some kind things, e no go show say we done try our best because as the youths they rebrand things, the government they spoile am, so the thing be say the Nigerian governments go first make change as them promise us before, then things go change for good, then if them accept Bitcoin join things go con change ASAP.

Difference dey when you say Bitcoin investment and Bitcoin adoption, Bitcoin no be wealth creation tools wey you go think say immediately you accept am say all your problems are solved. Nigeria accepting Bitcoin no do much for the economy of we never resolved wetin dey truly cause our economy to dey dis poor which is bad governance. Just because Nigeria accept Bitcoin no mean say everything go begin work for the country. If you reason am well, e fit make things worst because the stealing go dey so fast and decentralized wey be say you fit no catch person wey steal am and people no go dey fear to thief again as mixers can be used to mix the money and we no go fit track am to the stealer address. Nigerian youths na hustlers so dem go always find way to chop and investing in Bitcoin na one way to chop well tomorrow.


No be job creation be the issue but dem go fit maintain am when dey start am, me I for say make the government's assist the youths in entrepreneur programs wey be say e go teach the youths how to hustle and make money for demselfs because although na government dey make economy better due to their policies dem but the private sectors get a very important role to play for development and when a country private sectors no strong jobs go hardly dey for people to do because for every country, government alone no fit handle the no job wahala wey dey. When we dun get better entrepreneurs wey dun launch their own companies, slots go dey to hire people and reduced the stress on the government.

In my own point of view concerning the inflation in Nigeria right now, we are also contributing in the cost of goods in the market. This means that the sellers are passing on the higher cost of bringing goods to the market. We should understand that Nigeria economy is very poor. Ways in reducing inflation in Nigeria:

1) Agriculture: agriculture sector can help in reducing inflation. If going back to plainting of crops such as cassava, yam, plaintain and raring of livestock. This will help in reducing inflation.
2) Expectations: we should stop expecting inflation, I over heard a lady saying next year hunger go dey oh, I was like what is wrong with this country, if people keep expecting inflation next year, firms will put up prices high and workers will demand higher incomes because nobody wants to be left out.
3) Employment: Nigerian government should focus on graduates with no jobs, promoting of jobs, and investment can help to reduce inflationary pressures. In a country that employes and creates jobs to youths and citizens whereas this look like pushing money out through salary payment, this will help in reducing inflation on the country.

4) Bitcoin adoption/acceptance: since Nigeria economy is very weak, therefore, accepting Bitcoin will sustain the economy to some extend. In fact Bitcoin will boost the economy in the country, it will even create employment and self reliance of the youth.
Accepting Bitcoin in the country will even help the government because the youth will create jobs by themselves without looking for the white coller jobs. And that means crime rate will reduce. Bitcoin will help the fiat currency to withstand with the oppressive dollar