The instability and continuous depreciation of the naira has done a lot of damage to the economy of the Nation. The effects of the economy include decline standard of living of the populace, increased cost of production cost push inflation e.t.c.
One of the major objectives of the monetary policy in Nigeria is economic growth using money supply and inflation control (price stability) as a measure; but despite the various monetary regimes that have been adopted by the Central Bank of Nigeria over the years, inflation still remains a major threat to Nigeria's economy.
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Answer:
The instability and continuous depreciation of the naira has done a lot of damage to the economy of the Nation. The effects of the economy include decline standard of living of the populace, increased cost of production cost push inflation e.t.c.
One of the major objectives of the monetary policy in Nigeria is economic growth using money supply and inflation control (price stability) as a measure; but despite the various monetary regimes that have been adopted by the Central Bank of Nigeria over the years, inflation still remains a major threat to Nigeria's economy.
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