The Effect of Inflation on Economic Growth in Nigeria: A Time Series Analysis (2010–2020)

Abstract

This study investigates the effect of inflation on economic growth in Nigeria using time series data spanning from 2010 to 2020. By examining the inflation rate alongside GDP growth rates, the research adopts a descriptive and comparative approach supported by graphical visualizations. The study further incorporates comparative insights from South Africa and Ghana to highlight regional patterns and deviations. Findings reveal that high inflation rates in Nigeria, especially post-2015, have adversely impacted GDP growth, supporting existing economic theories. The study concludes with actionable recommendations for inflation-targeting strategies and macroeconomic stabilization.