“Money is very hard to get, it doesn’t grow on trees”, an angry man bellowed at his son for asking for extra tips. “But why Dad?” The young boy asked innocently, “I don’t know, the economy is hard, it’s the fault of the government” The irritated father concluded and stamped off fuming lightly.
Like the enraged man, many people complain bitterly of how difficult it is to make money. So many businesses in existence which includes workshops, Malls, and different services being rendered, not out of benevolence but to satisfy the basic demands; Mans gotta eat.
In order to fix the growing cankerworm of empty pockets, so many questions have been raised, all directed at alleviating the money crises plaguing citizens of every country. Taking Nigeria as a case study, the country is alleged to be owing billions of dollars in dept, with it’s effects biting hard in the citizen’s finances.
Some popular opinions rationally reasoned that the introduction of massive currency notes would go a long way in increasing the standards of living of Nigerians. Simply put, give everyone money and everyone is happy. But unfortunately, a lot of economists disagree with this move claiming that it’ll make the situation even worse.
Despite the warnings, few people still believe that what the country needs is a little boost in finances. Take for example, everyone receives an incentive from the government, then there’ll be enough money to serve as capital for businesses to thrive.
While the bright side of it is under consideration, the adverse effects could be devastating as claimed by economists. Too much money in circulation would definitely lead to inflation and a devaluation of the currency. For instance, people would be forced to pay millions for a loaf of bread, because the money available would outweigh the matching economic activities. In a nutshell, a poor man would still be poor with just a lot of money.
Below are some public opinions on the need to print more currency notes.