Nigeria: Savings, Investments Amidst Inflationary Pressures

opinion

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.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.