Power Of Inflation And Deflation In Nigerian Economy

By - - [ Education ]

Nigeria had faced a lot of Inflation and Deflation in her history as a result of many reasons.

Firstly, Inflation is a sustained increase in the general price level of goods and services in the economy over a period of time,  which is normally caused when aggregate demand exceeds aggregate supply of goods and services. This is because the income of workers increased from what it used to be, to a favorable amount, making them demand more. Suppliers will use the advantage to increase prices of those commodities.

Coming towards Deflation which is a decrease in the general price level of goods and services. It is caused when prices fall along with reduction in output and Employment. This is sometimes a method purposely drafted by the government in order to quench or counter inflation.

Which do you think is the best in Nigerian Economy?

 

Power of Inflation and Deflation in Nigerian Economy - By David Akwe - 2019-09-06 15:14:10

Inflation because it can be both beneficial to economic recovery and, in some cases, negative. If inflation becomes too high the economy can suffer; conversely, if inflation is controlled and at reasonable levels, the economy may prosper.so inflation is better

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Power of Inflation and Deflation in Nigerian Economy - By George Belema - 2019-09-06 15:38:07

Nigeria needs to follow the Deflation policy because the prices of foods and services have gone very high despite the stagnant salary available for workers in Nigeria, people are really suffering because of inflation.

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Power of Inflation and Deflation in Nigerian Economy - By Meshach Chiedozie - 2019-09-06 15:46:05

Inflation because it can be both beneficial to economic recovery and, in some cases, negative. If inflation becomes too high the economy can suffer; conversely, if inflation is controlled and at reasonable levels, the economy may prosper.so inflation is better

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Power of Inflation and Deflation in Nigerian Economy - By Umoru Abubakar - 2019-09-06 15:50:07

as the economy of nigeria is concerned the best that it should adopt is the deflation policy because nigeria lacks money in circulation and thereby putting households so poor that they can afford inflated goods.

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Power of Inflation and Deflation in Nigerian Economy - By Gentle Friday - 2019-09-06 15:51:11

Though both of them is unfavorable economy situation, but deflation is rather preferred to inflation. During deflation, the monetary authority through the central bank of Nigeria uses morasuasion as tool the withdrawwithdraw too much money from the economy caused by inflation. Prices of goods and services will be reduced because of lack of money in the economy. 

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Power of Inflation and Deflation in Nigerian Economy - By ifijie George - 2019-09-06 15:53:02

I think nigeria should maintain a stable price for goods irrespective of the increase or decrease in workers salary cause it'll help people in making a well define budget and plans on how to spend

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Power of Inflation and Deflation in Nigerian Economy - By Nasiru Abass - 2019-09-06 16:03:23

Both inflation and deflation are not favourable to Nigeria economy in any way...I think Nigeria should maintain the normal and stable price for goods and services in order for people to have a better budget on how to spend...

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Power of Inflation and Deflation in Nigerian Economy - By Folorunsho Oluwatomiyosi Gloria - 2019-09-06 16:06:07

A little bit of inflation is good for economicgrowth – around 2% to 3% a year. But, when prices begin to fall after an economic downturn, deflation may set in causing an even deeper and more severe crisis. As prices fall, production slows and inventories are liquidated. Demand drops and unemployment increases.

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Power of Inflation and Deflation in Nigerian Economy - By Chinonso Henry Ikueze - 2019-09-06 16:14:12

Diversification is best for Nigerian Economy. the over dependence in oil resources is the bane of our economy instability and fluctuations over the years, due to the fallible nature of oil prices. over 90percent of nigeria;s income revenue is oil based meanwhile Nigria other Natural resources could be looked into and bring out there best potentials. other resources like Agriculture, Tin and ore mining among others. and until we realise these facts, we'll continue to wallow in economic crisis and uncertainties

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Power of Inflation and Deflation in Nigerian Economy - By Oyegbaju Olamide Vivian - 2019-09-06 16:22:30

Both inflation and deflation have terrible consequences for Nigerian economy. One of them will cause harm to the supplier the other will to the buyer so both are non advisable. All we need is a stable economy.

God bless Nigeria

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Power of Inflation and Deflation in Nigerian Economy - By Oyenpemi Opeyemi - 2019-09-06 16:27:08

Nigeria case is a very special one that will take professionals to analyze. This is because if there is inflation in Nigeria, the price will continue to grow and never come down again. Once Nigeria experience an inflation, do not expect that a time will come when such price will go back to it's normal point. That is my country for you.

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Power of Inflation and Deflation in Nigerian Economy - By Ishaq Usman - 2019-09-06 16:27:51

The boths are needed for a stabled economy..you can't run a country on just deflation and no inflation..they must fluctuations in between inflation and deflation to run a stabled nation..Nigeria as a nation needs to be running on both ends to have a stabled nation

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Power of Inflation and Deflation in Nigerian Economy - By Orekoya Tobi - 2019-09-06 16:44:47

I think inflations occurs when there is too much of printing of money in circulation with less production of domestics goods.Look at the Nigeria society virtually everything is imported for us to have a stable and good economy in Nigeria I think the government have to effectively subsidies and encouraged a lot domestic  products empower the  youth and entrepreneurs to able to produce locally made products and promotes it to the level its can be widely accepted and exported.

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Power of Inflation and Deflation in Nigerian Economy - By Henry Uche - 2019-09-06 16:46:07

It's true the problem of inflation and deflation in Nigeria is another stuff entirely, but God will help us, the truth is that if there an increase at which government  generate revenue, it  will be a greater change at which the country can be a success.

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Power of Inflation and Deflation in Nigerian Economy - By John Agada - 2019-09-06 16:52:27

The power of inflation in the Nigeria of today is mainly felt by the poor and average economic people in nigeria because take a look at it during inflation and the prices of things goes up who feels it the poor people, and again if the prices of things comes down who does it benefit the more? The poor people still so ad for me I think inflation and deflation in Nigeria affects the poor people

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Power of Inflation and Deflation in Nigerian Economy - By Olumide yusuf - 2019-09-06 16:54:42

Deflation is the best in Nigerian  because prices of good and services will reduce ,by this people will be able to avoid it ...During this period the seller makes more sale that he or she used to before ..

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Power of Inflation and Deflation in Nigerian Economy - By Ehinmoro Faith - 2019-09-06 16:56:56

Inflation is the increase in price of goods and services  The power of inflation in the economy affects the poor people in the society but makes the rich get richer 

Deflation is the reduction in price of goods and services. It is a balanced economy for both the poor and working class citizens 

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Power of Inflation and Deflation in Nigerian Economy - By Ibrahim Zulu olamilekan - 2019-09-06 17:23:17

Nigeria has been experiencing subsequent increament in the price of goods and service since almost after independence. There was a break in the increment some 20 Years back thus deflation, but it has risen to a very high rate again. It's so distasteful for Nigerians t< be experiencing increment on the price of commodities like this

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Power of Inflation and Deflation in Nigerian Economy - By OMOTAYO ZAYNAB TOLULOPE - 2019-09-06 17:25:34

Things are getting more inflated day by day in Nigeria meanwhile deflation is the best for Nigerian economy. With that everybody both the rich and the poor can benefit.

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Power of Inflation and Deflation in Nigerian Economy - By Adebayo Gbenga - 2019-09-06 17:27:43

Deflation is the best for Nigeria economy  because when there is decrease in price of goods and services it will be suitable and it will be benefits for the majority and most especially the poor 

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Power of Inflation and Deflation in Nigerian Economy - By Salami Kehinde - 2019-09-06 17:55:05

Deflation is the best in Nigeria... It's good for both the middle class,the rich even the seller will see a lot of gain and progress more

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Power of Inflation and Deflation in Nigerian Economy - By Precious idisi - 2019-09-06 17:55:15

Inflation is not a good idea for the Nigerians because of the unavailability of money in the country. Deflation is really favourable to those who do not have enough to take care of themself and family.

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Power of Inflation and Deflation in Nigerian Economy - By Okoye Stanley Chinedu - 2019-09-06 18:00:53

In my own opinion, a deflated economy would go a long way to balance things up because inflation is so high right now 

 Ways to do this is by supporting local startups and companies and by reducing exports, a country like Nigeria should not be importing rice and other products that we ourselves can produce and export

Thank you

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Power of Inflation and Deflation in Nigerian Economy - By Okoye Stanley Chinedu - 2019-09-06 18:01:21

In my own opinion, a deflated economy would go a long way to balance things up because inflation is so high right now 

 Ways to do this is by supporting local startups and companies and by reducing exports, a country like Nigeria should not be importing rice and other products that we ourselves can produce and export

Thank you

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Power of Inflation and Deflation in Nigerian Economy - By Martha Chinaza - 2019-09-06 18:13:19

Am not in support of inflation in Nigeria because is high  so that there will be livelihood for the poor. Deflation is important and aimed for effective living.

Lastly,  inflation rate and Deflation rate should be adopted if there is no deflation certainly there won't be inflation for a lasting  and stable resources and economy so I think both should be adopted. 

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Power of Inflation and Deflation in Nigerian Economy - By Olaleye Victor - 2019-09-06 18:16:59

Boths are needed for a stabled economy..you can't run a country on just deflation and no inflation..there must fluctuations in between inflation and deflation to run a stabled nation..Nigeria as a nation needs to be running on both ends to have a stabled nation

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Power of Inflation and Deflation in Nigerian Economy - By Adeseolu Kazeem - 2019-09-06 18:53:11

Deflation is what is best for Nigeria, as it is the minimum wages received by government workers is very low which makes living hard for most of them except those that are on bulky salary areas. Inflation will only do Nigerians harm and no good 

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Power of Inflation and Deflation in Nigerian Economy - By Kehinde anthony - 2019-09-06 19:34:16

I think inflation has crippled economic activities in the country and caused a lot of set back, this. shouldn't be the best Nigeria should face, considering deflation i still support that because it can rather speed up economic activities in the country and ensure means of livelihood for all. The government should please consider deflation as a method in Nigeria.

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Power of Inflation and Deflation in Nigerian Economy - By Israel Ugwu - 2019-09-06 20:01:48

Control of inflation and deflation is primarily a function of the government and central banks of a country. Inflation occurrs when the prices of goods and services rise sustainably over a long period of time. Likewise deflation occurs when the prices reduce sustainable over a long period. In a case of inflation, you’ll need more money to purchase an otherwise little amount of goods and services. In this case the government and central banks must intervene

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Power of Inflation and Deflation in Nigerian Economy - By AKIODE OLAOLUWA - 2019-09-06 20:10:06

In a developed or developing Economy there is no way an economy can do away with inflation and deflation. Inflation is caused by the forces of demand and supply meanwhile deflation government use deflation control inflation when there is too much money in circulation through the use of monetary policy in the money. So the two goes hand in hand.

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Power of Inflation and Deflation in Nigerian Economy - By David Oluwafemi - 2019-09-06 20:14:15

The whole issue with this inflation and deflation is that Nigeria hasn't really experience real deflation because during there's always increase in unemployment rate even with the increase in price of Good and services. Therefore I think none is good for Nigeria

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Power of Inflation and Deflation in Nigerian Economy - By Akintobi Akinwale - 2019-09-06 22:03:54

Inflation Is the continuous  increase in price of goods and services. The power of inflation in the economy affects the poor people in the society but makes the rich get richer by the day. 

Deflation it the continuous reduction in price of goods and services per time

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Power of Inflation and Deflation in Nigerian Economy - By Idiris Opeyemi - 2019-09-06 22:53:44

I think the power of inflation in economic will surely affects the poor.deflation is really okay for this country,so that the poor would also be able to afford what they need for their family.and such case,the seller get mire sales every day

Inflation will never works out in this country,because once price is high in Nigeria.it will never comes back to the normal price

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Power of Inflation and Deflation in Nigerian Economy - By Kehinde Mejida - 2019-09-07 02:07:17

To the poor  or average  man,  deflation  is welcome. Because  little  money  can buy something  reasonable and the value  of money  is appreciated  to mostly physical  goods like food  items .The other way  round   inflation  is high  time  for everybody mostly  the  poor , the  value  of money  is less  compare  to what  the money  can buy  at time  of deflation .

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Power of Inflation and Deflation in Nigerian Economy - By Quinzyugoo Blessing - 2019-09-07 02:29:57

If you ask me I prefer the government maintain a stable price in the general market since the Nigeria circulation of money is low there are so many set back in the economy inflation or deflation they are unfavorable to the nigeriN economy with these they can set setback

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Power of Inflation and Deflation in Nigerian Economy - By Taiwo Korede - 2019-09-07 11:49:09

Ehinmoro183

Inflation is the increase in price of goods and services  The power of inflation in the economy affects the poor people in the society but makes the rich get richer 

Deflation is the reduction in price of goods and services. It is a balanced economy for both the poor and working class citizens 

The boths are needed for a stabled economy..you can't run a country on just deflation and no inflation..they must fluctuations in between inflation and deflation to run a stabled nation..Nigeria as a nation needs to be running on both ends to have a stabled nation

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Power of Inflation and Deflation in Nigerian Economy - By Arowosaye Oluwafemi - 2019-09-07 12:26:55

I believe there should be chances for the government to invest but we are in a cinutry where the government doesn't even care about the citizens. So to curb inflation, there should be reduced rate of raw materials and money should be supplied to the farmers.

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Power of Inflation and Deflation in Nigerian Economy - By Jesujuwonlo Oni - 2019-09-07 15:31:08

Looking at the Nigeria Economic with is in starve of growth and development, inflation should be in place for draught. But the policies of the inflation to be used must be careful implemented by concerned party of the econmy to ensure it is cyclical in nature otherwise it may lead to depression in the economy.

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Power of Inflation and Deflation in Nigerian Economy - By Adebayo Olagbaiye - 2019-09-08 17:38:55

If we have good deflation, due to a big increase in productivity, lower costs, then in theory there will be real wage increases. With this type of deflation we are seeing lower prices, but also higher output, higher productivity, higher profits.  If Nigerians  see lower prices, but they have rising real incomes, then you would expect higher spending because they will have the money to buy these cheaper goods.

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Power of Inflation and Deflation in Nigerian Economy - By Oludaye Adekunle - 2019-09-16 04:01:54

Nigeria is operating what other country are yet to discover but our operation seems as if we don't even know about what we are waiting inflation and deflation have is easy consequences and also there are some circumstances surrounded by inflation and deflation in Nigeria economic there is over 45% of 8 and also 32% of 9

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