Economy and Politics: High Inflation is a Major Economic Issue Nigeria Must Address
This edition of the "Economy and Politics" show features Dr. Muda Yusuf an economist and former Director-General, Lagos Chamber of Commerce and Industry, LCCI as he speaks on "Nigeria's Inflation Trend and the Implications for Households".
According to him "Inflation is the major accelerator of poverty in Nigeria because it reduces the purchasing power of the citizens. It also reduces the real income and when we are faced with a situation that can be described as "Stagflation" it means nominal incomes are reducing".
Speaking further he stated that inflation also has adverse effects on the mortality of businesses because as prices are galloping not many businesses will be able to survive across all sectors.
The former DG of the LCCI believed that an alignment between fiscal and monetary policy authorities was critical to addressing the issues of costs and supply chain disruptions in the country.