Financial analyst speaks on increasing inflation rate in Nigeria
Financial analyst, Bamidele Olusegun on Tuesday said that the raising inflation in Nigeria is a result of government policies, one of which is the policy on fuel subsidy.
The government had recently released 12.5 per cent inflation rate for the month of January. A rate that has helped push up the cost of living of Nigerians.
Mr Olusegun said that the inflation rate also reduce the ability of both the government and household to save. He said the inability to save has also reduced the level of investment in the economy which will reduce the growth capacity of Nigeria.
He suggested ways to reduce the rate of inflation in the country.