The Quantity Theory of Money (QTM) was studied in Nigeria from 1960 to 2009. The researchers found that there is a long-term relationship between the amount of money in the economy and the prices of goods and services. They also discovered that inflation is mainly caused by an increase in the money supply. However, they did not find evidence supporting the idea that inflation leads to higher interest rates. Overall, the study confirmed the idea that inflation is primarily influenced by the amount of money circulating in the economy.