Does Inflationary Dynamics Impact on Nigeria’s Economic Growth?


  • Paul Abdullahi Hassan
  • Adetokun Akeem
  • Ibrahim Ndatsu Ato
  • Abdulkamaru Salawu


Inflation, Exchange rate, Interest rate


Background: High inflation rate is one of the economic problems facing Nigeria. As the government is unable to provide a long-term solution to this issue, inflation in the economy is inevitable.

Objective: The study aimed at exploring the medium and longstanding interactions of inflationary dynamics on Nigeria’s economic growth speed.

Methodology: Autoregressive Distribution Lag (ARDL) bound estimation procedure was utilised in the study. The researchers used the Augmented Dickey-fuller test (ADF) for the stationarity test on the variables.

Result: The study found that inflation has a detrimental long-term and short-term influence on Nigeria’s economic growth. This demonstrates that when inflation is excessively high, an economy's currency loses buying power as a result of an increase in prices.

Unique Contribution to Knowledge: The study has demonstrated the link between inflation and Nigeria’s economic growth.

Conclusion: The study concluded that inflation has a severe consequence on the Nigerian economy both in medium and longstanding periods.

Recommendations: Giving the study’s findings, the study recommended stringent monetary policy.




How to Cite

Hassan, . P. A., Akeem, . A., Ato, . I. N. . ., & Salawu, . A. (2023). Does Inflationary Dynamics Impact on Nigeria’s Economic Growth?. Ianna Journal of Interdisciplinary Studies , 5(1), 84–92. Retrieved from