Inflation in Nigeria stifles economic growth, urgent measures needed for stability.
Inflation has been a big problem for Nigeria's economy, affecting its growth. Researchers looked at data from 1980 to 2019 to see how inflation, interest rates, exchange rates, and government spending impact the economy. They found that high inflation hurts economic growth by making things more expensive and reducing the value of money. Exchange rates also have a negative effect, but interest rates actually help the economy grow. Government spending doesn't seem to make much of a difference. The researchers suggest that the Central Bank of Nigeria should take steps to lower inflation rates to help the economy.