Contest:How to Control Inflation"

Good day steemians how are you all doing today I hope all is well and you all are in good health and enjoying your day as for me I'm perfectly fine and in good health as well

Today as I will be submitting my entry I will be taking part in an amazing contest organize here in the steem entrepreneur community which has the theme "How to Control Inflation"

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Inflation this has been one of the major sickness that has been burdening many developing countries all round the world, mostly in Africa as today I will be focusing on my country and the state of it's inflation.

Nigeria being the giant of Africa has all of a sudden suffer from and intense inflation due to the fact that our leaders chooses to pursue wealth and ideological interest instead of the interest of the entire nation.

And as a result of this the nations economy has gone from bad to worse as the prices of goods and services keeps increasing and some of the things that were affordable before now seems nearly impossible to afford as we speak.

And according to my own knowledge the various ways of reducing inflation in a national setting are;

• The most effective ways of reducing inflation in a national setting is to set increase in the amount of production thereby causing goods and services in circulation to be sufficient for the masses

• Eliminating and targeting high interest dept in a national setting would really help to fight inflation at the same time the increase in tax can help the state to fight and overcome inflation.

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The term product inflation is one of the most common kind of inflation that has been Invading most countries, it is simply the process whereby the cost of production which includes the high cost of raw materials and wages can certainly lead to a rise in the price of such products

So therefore when the cost of production increases the total value of the product being produced in the process must certainly increase as well so as the company wouldn't have to suffer lost.

This has been one of the many questions people have been asking on the street why is things more expensive in the village than in city, and this is very common here in Nigeria especially with our local goods

But the answer to that question is the fact that yes some of this goods like rice and garri are being produced and processed in the villages but it is just that when all this goods are being processed and finished it is then moved from the village to the city for sales to reach more customers

Living the villagers to suffer inflation in a sense that the goods that is being produced in your locality seems to be the most expensive commodity

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It is the sole responsibility of the government mostly those in charge of the executive powers of the state to pay attention to the most pressing matters at hand and for the main time ignore most things that seems irrelevant to the people

For example if a country is suffering from high cost of goods and Commodities the government should ensure that they vendor into the increase in production and forget about doing irrelevant things as at that time like buying weapons for armies and commissioning new officers and office holders.

^{This will be the end of my entry and I will like to invite some of my friends @xkool24, @goodybest & @drhira to also follow and participate in this amazing contest and to share their own point of view}