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Godwin Obaseki,  the Governor of Edo State, Nigeria, has attributed the country’s persistent rise in inflation to its inability to consistently produce and export goods[2][3][4]. According to Obaseki, Nigeria’s reliance on imports and failure to boost domestic production and exports are key drivers of the inflationary pressures plaguing the economy.

The governor highlighted that Nigeria’s struggle to generate sufficient exports has contributed to the dollarization of the economy, as the country increasingly relies on foreign currency to fund imports[5]. This over-dependence on imports has made the Nigerian economy vulnerable to exchange rate fluctuations and global supply chain disruptions.

Obaseki’s assessment underscores the need for Nigeria to strengthen its industrial base, enhance productivity, and promote export-oriented industries to address the root causes of inflation. Developing a robust domestic production capacity and expanding export markets could help Nigeria reduce its reliance on imports and stabilize prices[2][3][4].

The governor’s remarks come as Nigeria grapples with high inflation rates, which have eroded the purchasing power of consumers and posed challenges for policymakers. Addressing the structural issues that limit Nigeria’s ability to produce and export goods is crucial to achieving sustainable economic growth and price stability.

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