A SHORT HISTORY OF INFLATION RATE IN NIGERIA, Inflation has been a major problem facing Nigeria right from the period of civil war (1966 – 1970). Prior to this period, the Nigerian economy was in steady growth. This condition of inflation history continued till the time of the first military intervention in 1966 when there was a deliberate policy of fiscal and monetary discipline.
There was a balanced budget and there was no inflation. Due to increase in government expenditure, budget deficit became acceptable to the government and inflation-opposite of deflation.stagflation. started to set in. by 1973 inflation had risen to about 6%. In that same year, the Naira was devalued and the prices of imported commodities increased. In 1974, the Udoji salary award took the inflation figure from 13.8% that year to about 34% in 1975 due to increase in salaries and wages of workers. However, there have been fluctuations in the level of inflation history in Nigeria.
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budgeting or example, the inflation figure 1982 was just about 7% but rose to 24% in 1983 and to 39% in 1984 and it became worse in 1986 when Second-tier Foreign Exchange Market (SFEM) was introduced.
The inflationary figures stood at 40%. In any case, inflation has been controlled by successive governments but it has not yet been eliminated.
Limited partnership is a type of partnership which is formed and registered under the Limited Partnership Act. In a limited partnership, there must be one general partner with unlimited liability and one limited partner whose liability is limited to the amount invested. The partners cannot take equal part in management and administration of the business. The limited partner can have access to the account of the partnership== inflation history
The main features of limited partnership
Limited partnership is a type of partnership which is formed and registered under the Limited Partnership Act. In a limited partnership, there must be one general partner with unlimited liability and one limited partner whose liability is limited to the amount invested. The partners cannot take equal part in management and administration of the business. The limited partner can have access to the account of the partnership.
The main features of limited partnership
are:
