Why is Everything so Expensive in Nigeria?

[@FisayoFosudo]

Quick things to note: When it comes to food and agriculture, fertilizers also play a huge role in the price and from reports, that has also tripled in price. Another note, at 9:47, fuel subsidy was removed on the 29th of May 2023 during the president’s inaugural address and not March.

[@ezeribeonyedikachi9095]

greetings sir, With 2,000,000 I will stock my small food mart business (raw food mini supermarket) i've been setting up for like 3 months now, i has taken long because i just work, get some money and then put there, gradually i'm getting there. i've lost almost 3 months in rent but i'm confident it will pick up soon and i can cover up ASAP. i have done the shelves etc its mainly the stocking of the shop that is left and i'm just working and saving to push it sir. thank you for considering sir 🙏

[@victoryanyi4147]

Great video Fisayo, but Nigeria can't fix inflation by increasing intrest rate. Unlike the USA Nigeria runs an inefficient market, with 75% informal and 25% formal, also Nigerian consumers don't spend with credit unlike the USA but with their hard earned money, so increasing intrest rate have no effect on retail borrowers because it's non existent here, also finally the USA is dealing with a demand push inflation while Nigeria is dealing with a cost push inflation brought about by the value of the Naira to th dollar.

[@kinzoogbugo1891]

Love your analysis

[@kinzoogbugo1891]

I think the major problem is the devaluation of our currency when we don't export much. The policy is pushing more people into poverty.

[@miguel-w4t8p]

Exactly... reducing interest rates wouldn't solve the Nigerian inflation problem. Most of what we do are more informal than formal. The government and citizens have a role to play here.. If there is no government interest along the line then the government needs to create an enabling environment for agriculture and business to thrive. If it is too much on the government, they should outsource privatization. Still, I doubt it because there is a serious government interest in these problems the country is facing and it is to their advantage that things remain this way. In the aspect of tackling insecurity, I believe a private army organization will really help solve the problem if restricted to a certain location and given the necessary mode of identification to reduce impersonation

[@oladapotobi1029]

​@@kinzoogbugo1891 yes you are right, but one bright side here is that we will be pushed to start producing

[@pape5602]

Intra-regional trade is very low. We share the same land mass, but not resources. I should be able to hop in my car and drive from Dakar to Lagos (while paying the proper local and regional fees) with no problem. Along the way I should be able to participate in the regional economy and get home safely.

[@xavier9990]

Good morning Fisayo. An informative video right there. I am also an Economics graduate, just like you lol, and I agree with all you’ve said, asides where you talked about how the Government can battle inflation (increasing interest rates). It’s important that we note that Nigeria’s inflation, as you’ve clearly stated, is supply side driving (infrastructural deficiency, insecurity, etc). So, rather than continuously increasing interest rates, they should battle supply side. Most times, our economy does not follow normal economic theories, we should also note that😂.

[@fatokiolusolaosfeam1584]

fun fact: do you know that saying "without further ado" you have done a further ado.

[@FisayoFosudo]

😅

[@phoenixsmith9697]

A man that thinks all the time

[@Jarvis2077]

@@phoenixsmith9697 has nothing to think about except thoughts.

[@tijaniademola5834]

Weyre 😂😂

[@sesebere]

Haha

[@PayazaAfricaLimited]

We make payments seamless and secure for businesses.

[@keszytaylor]

I need loan to take chop , Nigeria hard 😂

[@caressymoses]

@@keszytaylor this guy

[@keszytaylor]

@@caressymoses 😂😂😂😂😂yes na , no be them wan give loan

[@jeyson583]

It's the same here in Ghana Food prices have gone up while the portions have gotten smaller

[@Nurse_villa]

Foriegners made it like that in Ghana

[@davidadeoye6398]

not just Ghana its a global thing, everyone is complaining

[@CyrilAmagbakhen]

Excellent work Fisayo; I stayed glued to the end! Your research efforts are highly commendable.

[@FisayoFosudo]

Much appreciated 🙌🏾🙌🏾

[@alikadaniel9396]

​@@FisayoFosudoamazing video Fisayo. Curious to know how you edit

[@maximusojukwu9471]

The animation and narration kept me glued. How do I inform and tell a good story at this skill level?

[@Amytianaglobal]

As a voice artist, I love how your voice soothes and passes the message simultaneously. 👍🏾

[@jeffreyrt734]

This editor earnimg every penny

[@gamingthings9940]

2 million naira grant.... Definitely getting a new laptop and tablet first. Running Premiere pro 2023 and After Effect 2023 using dynamic link on a 14 year old laptop is INSANELY slow. Rendering literally takes a day at times. Well, photoshop runs smoothly. Great video Fisayo! Your new "Vox" editing style is 🔥🔥🔥🔥🔥. Chromatic aberration is goated

[@magdalene-adaogban5890]

Great video Fisayo! We didn’t see the link you directed us to at the end of the video.

[@FisayoFosudo]

What link are you referring to?

[@empresskofoworola]

​​@@FisayoFosudo at 14:01

[@boluwatifeshopelu1054]

Video editor went wild

[@TheCinematicTola]

honestly

[@KingJosh-u5t]

Thought I was the only one who noticed

[@jessie_oyawiri]

Was really crazy

[@Swiftwebberi67]

This thing touch some of us more than the others o🤣

[@iamtompte]

Ikr

[@motlwangmachachamise548]

Thanks you as a South African to try understand the economic factors however ill need to re-watch the video & more of your videos .....thanks once more 👌🏾👌🏾👌🏾

[@mukhtaribrahim5981]

This's very educative aje

[@FisayoFosudo]

Thank you for watching! 🙌🏾

[@Pinenilla]

Congratulations on 700k subs Fisayo❤🎉

[@dipoajax]

excellent down-to-earth explanation and superb story-telling skills. Thumbs up Fisayo. You nailed it.

[@FisayoFosudo]

Thank you kindly!

[@caressymoses]

Fisayo dun teach me about inflation pass my economics teacher that year. Great video sir

[@FisayoFosudo]

Haha, thank you 🙏🏾

[@nannimwuyep]

The editing here is on another level. Just 2 mins in and I'm eager to pick up my PC and replicate some of these. Awesome video, Fisayo.

[@jessie_oyawiri]

I swear 😅

[@bosun99uk]

Things are so expensive, that spending money and earning is so annoying.😢😢😢

[@williamsumeh6906]

Great work putting this together. I know this took a lot of research and design. The graphics were dope. I had to rewind just to get the gist of the video as the graphics took my attention from the info.

[@favouritejome]

Thanks for making an informative video on this 🙏

[@FisayoFosudo]

Glad it was helpful!

[@1RRaider]

Really great abd helpful video. Fisayo

[@FisayoFosudo]

Glad it was helpful!

[@ayobamiokla]

Well understood. Well done bro.

[@FisayoFosudo]

Appreciated

[@Demmybacus]

Great video. Superb information. Also,the editing and infographics is top notch.

[@samuel_adebayo]

Just watching you channel gives me great editing inspiration, your editor needs a raise, I would love to reach out to him personally

[@MiDaY_i]

This was very well put together🔥🔥

[@danielchile6845]

I laid out all these points to curb food inflation to my friends, straight out my head glad seeing my points here as well❤️

[@olufadihaneefullah4211]

Fisayo casually consulting for the government in a way all their "experts" never did. It could be that the government just refused to adhere to the advice of their experts due to selfish reasons, but it's good for the general population to know what's happening.

[@Chuby_ubesie]

Nigeria has no Problem with Monetary Policy because that one doesn't affect the political class as much, the real problem is on Fiscal Policy and curbing government corruption and waste

[@atulenicholas8020]

Really really enjoyed this!! Great Job

[@guy_cod]

Thank you team Fisayo, very informative video

[@FisayoFosudo]

Our pleasure!

[@MOA007]

Nigeria's inflation is just a very BAD one..😢😢.. its sad story.

[@pixiedust6630]

Even in Cameroon prices have skyrocketed. Its mad

[@chineduezeofor2481]

Excellent video 🔥

[@FisayoFosudo]

Thank you very much!

[@adeimsef]

0:27 I nearly mistakes Yam Tuber for KZbinr 😂😂

[@rebeccahillsares8253]

😂😂😂😂

[@Barrytales]

😅😅 not only me

[@digitaledu6624]

The whole world is facing inflation not just Nigeria. In America where I live groceries have doubled and some items tripled. Please start tell Nigerians the truth the whole world is facing this issue.

[@SirAlexishaya]

See me watching and taking note. This video needs trend ajee. 10 million views up

[@FisayoFosudo]

🙌🏾🙌🏾🙌🏾

[@mrnatha]

Mallam Ishaya😃🙌 Good to see you

[@brodricokubama3999]

2 million will help my importation business I still learn from you heroshe is won of the best

[@JohnOdunayo]

"Out of Control" *shows Ctrl* 😅 nice

[@FisayoFosudo]

🤝🏾

[@mzvlogs6409]

i converted the 555naira you were buying 1kg of rice to myhome currency which is kes it becomes 45kes and let me tell you guy that is the price of a 1/4 of a kg of rice here,a KG goes at 140 which is arounf that 1600 naira and we are used to it.

[@FisayoFosudo]

Wow 😮

[@ekpouduak8292]

Vox is the template. Niiiice.

[@olumuyiwafatoba675]

This is a very impressive video! I’m interested in learning how this was scripted and the graphics generated

[@emmanuelolaniyi5704]

Thank you Sir, One thing I would pick here is to increase my earning

[@rixlle]

Love this

[@godsonabbey6670]

I like this video.

[@usmanabdulkadir3334]

Nice content keep it up as always fisayo bro

[@towobolababatunde6491]

A very informative nd educative video,.,.,.this just got me

[@FisayoFosudo]

Glad you enjoyed it

[@DominionAudu]

Fifi we need an audio post-production tutorial bikooo🙏

[@cryptozaza2020]

It’s the Canabis plant for me while explaining the agricultural effect of the GDP

[@FisayoFosudo]

Inflation is high 🙏🏾

[@oludeleisrael5719]

Fisayo!!❤️🌟

[@pascalsanyi9737]

Video was top notch 👍🔥

[@FisayoFosudo]

Thank you for watching 🙌🏾

[@therealnwezejasmine]

Let's go new video 🎉🎉🎉🎉

[@FisayoFosudo]

🙌🏾🙌🏾

[@jobiej7416]

This what I call Fisayonomics! Thanks.

[@ojodarexxxy3901]

Wow, 2 million will definitely get me a full frame Nikon camera with a sharp prime lens and a flash to start my photography business y'all !!!!!

[@KingJosh-u5t]

Good work as usual 👍🏾

[@TechSavvyInsider4u]

Hey Fisayo, I need to know if you have a Google Pixel. I want to try out the Germini live chatbot. 😊

[@TheAkinyemiJeremiah]

A two million naira grant will get my branding business a new system for taken on bigger projects and a solid graphics tab for speed and flexibility. Also an office chair, market our brand on social media via ads and venture into printing and venture into product photography for each client. ❤

[@PayazaAfricaLimited]

What is the name of your business and what do you do?

[@obamike]

You didn't mention the petroleum subsidy removal that led to increase in petrol price. This is where the current inflation in Nigeria all started. Once there's increase in fuel price, there will be increase in transportation cost which leads to increase in prices of goods.

[@israelchetachi683]

You obviously didn't watch till 09:45 😅

[@_Unchained]

Finance Friday 😊

[@adebiyiadekunle871]

I’m fed up😢

[@oyelekebalogun8769]

Year 2023 you can fill your car tank with 11k fuel, now u will spent 50k above

[@Oyaskii]

I didn't even need to see the video to know why things are expensive. The thumbnail was enough 😅

[@eabumoye]

By the way, things have become more expensive since this video was posted - which was just 2 weeks ago! Prices have jumped by 60 - 100%.

[@thaddnarrative]

Great video👏

[@nnodimjohnkennedy6367]

I think the country is suffering from something greater than inflation. Inflation is too much money chasing few available commodity. There is no money in Nigeria yet things are very expensive so its not inflation

[@seedcamcreationstudio]

2 million grant will kick start my Fish hatching business... I feel someone needs to think about this... Why is it hard to my hatch? Great video I had to plant pepper and some other plants 3 months ago.. still enjoying them till now... Now there is rain... 😂😂😂 I am a (visual) motion designer but that didn't stop me from solving problem...

[@UBUAPRAISE]

Informative😮😮

[@FisayoFosudo]

Thanks for watching 🙏🏾

[@UBUAPRAISE]

@@FisayoFosudo 👌🏻👌🏻👌🏻

[@aliyurabiu4976]

Pls do a videos on remote jobs for us Nigerians

[@victorukaeagbu6023]

As someone studying software engineering, doing that without light is discouraging. Hopefully, I can get solar panels with 2 million naira. That is if the inflation hasn't reach there😂.

[@jamesezekiel-olufemi1202]

@fisayo Shey you no go create community of mentees like this. Come and mentor us in this economy 😭

[@Mperor_Niho]

What is the solution?

[@chieduonabu6252]

N2M, I go buy my mic, audio interface and booth reinforcement oh....

[@jemolife15]

Does it have an api like stripe

[@adebayorobiu9536]

If I get two million naira grant, I’m going straight to Alaba to purchase solar, price is fuel is consuming all the profit

[@byImmanuel]

It’s all just a big mess, isn’t it? It usually is, just now way more than ever before.

[@MOA007]

2 million naira will definitely make go into new grounds in my business.. like sell a wider range of wat i sell now.. 😊

[@nanayawterry]

Same thing in Ghana

[@chimebath85]

The real reason is our currency , spending and debt problem.

[@call_me_akayz]

Do you think we'll get to that stage of using another currency to battle inflation? I hate to think about it but it's looking possible day by day💔

[@aokaparagit]

At that point we can then officially say, Nigeria is gone. It would be a disgrace to the so called “giant of Africa” and Africa at large.

[@stevebonee3798]

nice video

[@FisayoFosudo]

Thank you for watching 🙌🏾

[@favourajuobi27]

What's the solution sir?

[@centboyaugustine1314]

A Two million naira grant will go a long way in my agro product distribution across the nation is more or less a big boost to my business

[@wolexismedia]

What do you use for your motion graphics?

[@abdulraheemmuhammad4985]

Fisayo is a Mumu APC supporter.

[@MARKOTHEDEV]

broooooo you saying we should save for the raining days cus we ain't see nothing yet... damm it is well.

[@pgroninyt275]

😅2million naira grants i aren't gonna lie with the way this country is heading to will spend 1m on food first before prices double up again then invest with 300-500k then remaining 500k look for a small scale business to venture in food business might be the best to consider right now

[@Nurse_villa]

You know its expensive when foriegners start saying stuff is expensive because they know any given minute there money can lose vaule so they very careful how they spend

[@kinzoogbugo1891]

The devaluation of our currency is a terrible policy.

[@Rasputinoid]

2million naira grant. I'll kick off my agrotech business that would completely cut off consumers from most middlemen and connect them directly with the farmers. I'll start with the pilot phase in Asaba where it can be controlled and monitored plus farms here are tired of the middlemen. Then from there scale up other states while showing increased subscriber base but mainly to university communities before state capitals because its easier to work in a controlled environment at that stage while meeting with real farm owners around plus publicity is cheaper around university areas plus they would even help out via word of mouth. Before moving to state capitals. In two years to three years, we would have covered the whole South-south and South West plus Abuja and Niger states plus maybe Nasarawa.

[@Solomon_Amoasi972]

Not only Nigeria but Ghana is even worse

[@appolliengratien2415]

Bro for plateau state we have 2500 can somebody come and by ?😂😂😂😂😂😂😂

[@AJSProjects007]

There's one thing you didn't talk about that is who caused it? Someone who lacked understanding of how an economic policy affected all areas sectors and commodities overall, He removed subsidy and floated exchange rate.🤦🏾‍♂️🤦🏾‍♂️ You didn't mention he is giving bags of rice now.

[@rixlle]

If only the government could listen

[@Nurse_villa]

2 million naria wont do nothing for me i need more like 60 million naria

[@mrnatha]

We salute you🙌...President...🤭

[@omokorbojessy8365]

​@@mrnatha😂😂😂 the guy too funny

[@0fficialBlvckk]

No payaza on iOS 😡😤

[@KayKay69365]

It is so scary that in a few years, Nigeria could get to a hyperinflationary economy if care is not taken. Just like Zimbabwe left their currency to deal with such hard times, that may be the same case for Nigeria. Hold on to your $$$ my friends. That's my advice to you

[@jessie_oyawiri]

I'm a video editor i can get you edit like this.

[@otegwupero2890]

wow Amazing video... two million naira grant will get my a good start up catapult as i would be able to get studio lights, a decent camera and gimbal for better videography as i currently rent gadgets with whatever profit i get

[@oluebubemgbemena3118]

Omo this country Don scatter