I want to use this medium to greet all great Hivers. How has been your day so far, hope you are all doing good? I'm positive minded that it's all well and fine.
Currently! The concern of almost every Nigerian right now is the issue concerning hyperinflation that has hit the market over the price of goods and services. Inflation has become a trending word on the lips of every Nigerian, even those that do not understand what inflation means they have been able to witness in the real life experience. But the reason for this content is that, the complain over inflation from all Nigerians vary in the sense that where you have some part complaining, you have some others not complaining about the high inflation of goods and services.
Comparing those that earn in dollar and those that earn in naira.
If we are fair, the conversation rate between naira and dollar which is equivalent of one dollar to #1,700. Meanwhile, most people are taking advantage of this to meet up with the high inflation of prices of goods and services. These are people that are able to earn in dollars. These category of people are still liable to meet up considering the conversation rate between naira and dollar.
The other category of people are those that are earning in naira and spending in naira. These set of people can't meet with the hyperinflation of price of goods and services unless they are also benefiting from the excess of cost of governance in Nigeria. The best opportunity now is if one earns in dollar which is one of the opportunity that hive community blockchain brings to the table. I'm a blogging on hive community blockchain and earning in dollar, so I'm a bit at advantage and still partially be able to meet up the high inflation rate.
Basically, you can't compare someone who earns in dollar and spend in naira with someone who earns in naira and still earns in naira. The former would feel the impact of inflation or hyperinflation than the latter. The only advantage one could have the others is to be able to earn in dollar, convert it and then spend in naira.
Thanks for stopping by to view my blog. Please do have a wonderful day ahead.