Tips
to Survive Economic Recession in Nigeria Today
Very
few foresaw the economic state of the country today after the change we so
desperately sought in the country was handed down to us. We were quick to forget
that our value system has become warped and clung to a wishful clandestine plot
of the government to transform our economy miraculously.
We
believed the rigour with which the new government fought the state of
corruption in the state would also cause drastic developments in all areas,
choosing to believe that price of fuel will drop to a mere 10 naira per litre,
trusting that there will be uninterrupted power supply and that graduates no
longer have to wait several years to get a suitable job.
We
chose to believe things couldn’t be so bad, since we are considered the largest
economy in Africa, an oil rich country, the purported giant of Africa. Alas, the
cost of living has skyrocketed in recent times, there is little hope of getting
24 hours of electricity in a week, the heat emanating from the sun has become
unbearable, well-paying jobs have become scarce and the foreign exchange rate
has become heartbreakingly high.
Rather than
rely solely on the government for the change we so need, I believe healthy
scepticism is very necessary for survival.
Hence,
our survival instinct has to kick in. Here are a few tips on how to survive in
the face of the economic instability plaguing our beloved country:
1. 1. Minimize or stop foreign purchase for now:
I know this is no easy feat, but you have to buy
Nigerian to grow the naira. The consolation here though is that our indigenous
fashion designer for instance are doing a tremendous job right now. You can get
your fashion apparels from stores like ShopMaju or the 5k store. Get your
household items, appliances or accessories from online stores in Nigeria. Stick
to Jumia or Konga right now, to avoid the overbearing cost of importation.
2. Start a business to address unemployment:
If
you already have a job, please do everything you can to keep it, as times are
hard. However, if you are currently unemployed, the best way to tackle
unemployment is through personal empowerment. Entrepreneurship is key, start
something today. Even if it’s a small trading business, monetizing your
writing, event coordination or planning, get something done.
Tap into the various industries at your disposal, Lagosian love to party, get
into a catering business, start small but who knows, you could probably end up
catering to bigger events or even be hired as an interior decorator in the
homes of some affluent people living in the upscale residential areas of Lekki
or Victoria Island.
3. Use cheap hotels only:
If you have to travel round the country, avoid
staying in luxury hotels in Nigeria for now. If you need a place to stay close to the
airport, stick to cheap hotels in Ikeja.
The hotels in Lagos and Abuja are considered to be
on the high end of the cost spectrum but you can get affordable accommodations online
through Jumia Travel, Africa’s no 1 hotel booking portal. You are assured of
great deals and amazing discounts on all hotel across the country.
4. Fight
the heat:
To
protect yourself from the health consequences of the heat wave, stick to
wearing light and loosely fitted clothing, drink plenty of water, use a
deodorant spray and wear sunglasses.
5. Maintain the Nigerian sense of humor:
While
we continue to struggle with the seemingly unabating economic hardship, our
will to survive should be the greatest resolve. We must ensure that we retain
the Nigerian sense of humor, for which we are well known. Humour is a sure way
to cope with all the hassle and it lifts all the pressure off us.
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