Most of these hike in price is as a result of direct or indirect link to importation. The government shut down all borders for years and decided to open them since the elections are coming. Closed borders without a well stated and working plan is a failure.
I was unhappy when I saw the price of egg go up because I love egg but I was astonished when I saw that the price of feed had gone 2× with its quality and quantity reduced. The problem with the economy of Nigeria is that the Central Bank isn't harnessing the advantage we have but rather we have been fighting the opportunity.
Nigeria deals with cryptocurrency more than so many countries in the world. In fact we rank top at so many aspect of cryptocurrency but then, the government has shut against this, chased so many crypro company out of the country (company they could generate tax from) and then freeze accounts of anyone involved i cryptocurrency only to spend billions of naira creating its own cryptocurrency that is as good as useless to everyone.
Locally produced food is another thing that they pretend to us to be supporting instead, they give grants to themselves which they intend not to pay back. These grants aren't given to regular people who have the intent to do business. As a lady, I want to start a pepper 🌶 farm of 10 acres which includes chilli, Bell pepper and so on and then package and sell online and offline (grinded and whole) but I have been denied grant three times. Either I am ask to bring to give 2/5 of the grant as Kola(bribe) or I I told that the grant is only given to those who know people in power.
Surviving in a country like this is very difficult and i can imagine how difficult it is for other people but then, one has to be able to grow themselves. Having the power to vote a good content $1 means a lot and I hope I can grow myself to be able to reward users for their contents.
RE: The real value of HBD in Nigeria