International records / OpenAlex research

Effect of exchange rate on inflation in Nigeria

Previous studies on inflation determinants in Nigeria present mixed findings. For instance, Ilemona and Ibrahim (2017) and Inam (2015) report that the exchange rate and money supply exert a negative and insignificant influence on inflation. Conversely, Nuhu (2021) finds these same variables to have a positive and significant impact. Building on these divergent results, this study examines the impact of exchange rate, money supply, interest rate, and government expenditure on Nigeria’s inflation rate, utilising annual secondary data from 1995 to 2024. The ARDL model and the ECM were employed to…