Who wins when inflation is high?

Various groups are sometimes considered winners in an inflationary economy: welfare recipients with their ever-rising benefits; workers with their generous wage contracts; wealthy people with their capital invested in inflation hedges.

How can printing money cause inflation?

Hyperinflation has two main causes: an increase in the money supply and demand-pull inflation. The former happens when a country’s government begins printing money to pay for its spending. As it increases the money supply, prices rise as in regular inflation. They buy more now to avoid paying a higher price later.

What business can turn you to a millionaire in Nigeria?

With a capital between N20K – N100K this business could turn you to a millionaire over a period of time. HOUSE CLEANING SERVICE: Many home-owners and apartment dwellers will welcome help at “house cleaning’. Charge a flat fee for the amount of work that must be done.

What are the most profitable small businesses in Nigeria?

Visit the beach side, amusement parks, Stadium complex, Trade-Fairs, Swimming pool side, etc. and see many attractive toys produced locally. With little capital of about N20K you can venture into this business. GSM PHONE REPAIRS SERVICES: This is another highly profitable small business.

Should you start a gym-related business in Nigeria?

Fitness has always been a source of concern, and Nigerians have also caught the bug. This is because of the high rate of cancer that continues to ravage people. If you are a fitness and health enthusiast, then you can look towards starting a gym-related business in Nigeria.

How can I make money online in Nigeria?

If you can write or have the capacity to learn how to write, start a blog. Blogging is a good way to make money online in Nigeria. All you need is internet access, good research skill, an interest, and a laptop and a lot of time. Your most important and perhaps expensive investment in a blogging career is your time.