Inflation and It's Overbearing Effects in Nigeria (a Case Study of Selected Individuals and Smes in Ede and Osogbo, Osun State)

Student: Olaoluwa Josephine Ayodele (Project, 2025)
Department of Banking and Finance
Federal Polytechnic, Ede, Osun State

Abstract

The study assessed inflation and it's overbearing effect in Nigeria, using selected individuals and SMEs in Ede and Osogbo as case studies. Inflation has overtime posed itself as an insurmountable pandemic in Nigeria. The direct effect of inflation is felt by almost everyone in the country and thus a matter of expediency, which makes this study essential. The research adopted survey research design and primary data source with the aid of questionnaire. A sample size of one hundred and fifty (150) was used for the study, while 130 questionnaires were returned. The filled and returned questionnaires were interpreted and analyzed through tabularizations and simple percentages. The findings revealed that incessant insecurity problems has hampered food production, which inadvertently led to food insecurity and scarcity, increased rural- urban migrations, mismanagement of funds by public officials, bad microeconomic policies amongst others are the causes of inflation. Thus, it was concluded that inflation is multifaceted, as it's causes are many, ranging through corruption, social inequality, incidences of multiple taxation, productivity constraints, attitude to work and spending pattern, deficit financing of government etc, and for a viable solution to be reached, a pragmatic look must be taken into all areas.

Keywords
Inflation Poverty Government Policy Microeconomy Macroeconomy Insecurity Importation Self Sustainability Local Production.
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