My Thoughts on Growing Inflation Rate

The rate of inflation these days is becoming alarming not only in Nigeria but in the entire world.
Though I taught that my country is the only one suffering from inflation but when I read on other steemians post I discovered that is all over the world which is very bad for citizens especially the poor who are finding it very difficult to feed.

Nigeria has been dealt with inflation in the past years but it have not been this bad because since our new president was sworn in to government the proce if goods and services have drastically increased and its has been a problem for everyone.
Honestly, Nigerians are really suffering due to the high rate of inflation in the country, but I believe that one day everything will be alright.

According to you, what are the major reasons behind the growing inflation rate, specifically in your country?

Even if the rich are affected because of the rate of inflation, imagine how the poor will feel.
This is so sad in my country that anything that goes never comes down, that is when a price of a particular goods increases, it will never decrease, and it is really affecting us.

Importation of petrol: In our we have a refinery that produces petrol but it is currently not functioning and the government are not making and effort to fix such problems.

The Importation of Petrol into our country have made the price of diesel, fuel, kerosene, gad etc. To be very costly and once fuel price goes up everything will increase because it is fuel that they use in transporting many of the goods and services that we consume.

Removing Of Fuel Subsidy: The first thing that our new president did was to remove fuel subsidy which have become a problem for Nigerians, before we normally purchase fuel for 220 NGN and after he remove the subsidy it increased to 700 NGN Nigerians complained about it but it is so sad that we are gradually getting use to it.
Everyone now sells according to their own satisfaction, which is why we are suffering from inflation.

Population And Demand For A Particular Goods: The population of a country some how causes inflation because when many people demand for a particular goods the price will be gradually increasing and this is currently happening in my country Nigeria, when plenty people are demanding for a particular the price will increase because they no that people are buying them.

^{The population that want to purchase goat 🐐 meat 🍖 from a seller}

Increase In Dollar: The increase in dollar also causes inflation in Nigeria because they always import goods from abroad to the country, so it will be difficult for them to make a profit.
Nigeria is a country that value foreign products more than theirs and it is a shame because it we are consuming our local products the inflation we are facing will not be much, but currently we are really suffering and out currently in gradually depreciating everyday.

Do you think that the increasing inflation rates affect all the classes and fields of life?

Yes, the increase in inflation does affect all the classes and fields of life because as humans, once prices of things are high and not in a stable condition it will definitely affect our lifestyle because we will spend too much especially for the poor they will have to face suffering in life.

We all need food to survive in life, and once they is no food, it will really affect our lifestyle because food gives us energy, and when we have energy, we will be happy.

As a common citizen, how can we play our part to control the inflation?

As a common citizen, we should learn how to sell things at a very low cost because most of the inflation is caused by we, as we want to make more profits than required.

We should learn how to consume to our satisfaction and also reduce our demand for goods and services.

As common citizens we should learn to prioritize our local products, this way they will be less important of goods and and inflation will gradually reduce.

I am inviting @simonnwigwe, @pandora2010, @josepha and @suboohi to join me and participate in this wonderful contest

10% goes to @hive-109435