Inflation And economy crisis in Nigeria
Inflation is a global thing now and we all know how this is affecting people all over the world but this hits Africans differently because we don't have a good and stable economy yet. so many African still live below 100 dollars a month and a sudden increase in the price of food and transportation is already too much. Some African countries are designed in a way that the citizens should remain poor and every way out for these people are already blocked by the government.
Take Nigeria for instance, the exchange rate of dollars to naira is increasing every day, and presently at 705 per dollar which is scary and not helping because the inflation is there and joining it with crashing currency is bad and suffocating. Some countries are already protesting because of the inflation but not of the crashing currency. Every day we see the youth traveling out of the country because they are tired of this jungle but is that the solution?
NO!
The major problem nowadays is the option of moving out of the country and I think is not helping, this is only a personal solution and not a collective one because if we have nowhere to go we would have to face some of these problems. 70% of youth are not voters and I think that is another major problem Nigeria is facing and now bad governance top the list.
The most surprising part now is that the Nigerian government has declared war against people that are using the naira to buy dollars and is not those people's fault because they want to be on the safer side as the naira keeps crashing. This is scary and the solution to that has already been blocked also.
I know you are thinking about crypto
We can not doubt the power of crypto and how people have been using it for good and save themself from this terrible situation but the fight against crypto persists and in Nigeria for instance the police see you as a criminal if you are doing crypto, I know people still have their means but instead, Nigeria imitates some countries in World that fully support crypto we are waging war against it.
It is a crime for you in Nigeria to look clean especially the youth, the police will be after you and it is a bad experience. The police believe any clean youth is money is not clean that are doing something related to crypto or something worst and you to investigated and based on experience it terrible because you be treated badly
Conclusion
Inflation in some world-leading economies has been bad and people are complaining but looking at Africa with a terrible economy shows how the struggle is hard and why something has to be done, we have Nigeria's naira crashing like a shit coin and that makes the matter worst and in this situation, the government is not helping matters and making the life of their citizens even harder.
What are your thoughts on this?
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