Because with inflation businesses and households usually perform poorly, and expectedly more money is paid for the same goods and services. However, it was mainly instigated by the continuous rise in the level of inflation rate in Nigeria in recent times. The consequences and impact of inflation (price instability) in Nigeria cannot be over-emphasized, we can all feel it. In recent times we have noticed a daily rise in all price of commodities and food prices which is already manifesting as a cost of living crisis. Therefore, investing is key to hedge against a sharp inflation impact because it erodes the value of savings if funds are just left in the bank accounts.

Source: Nigerian Tribune November 22, 2024 06:11 UTC