As we all know, the cost of livelihood in Nigeria is becoming very expensive. The economy is trembling, but we fail to understand the reason.
(Photo Credit: The Guardian Ng)
Recall that during the tenure of Goodluck Ebele Jonathan, the economy was not as hard as it presently is. Now, in this article, I will be outlining 3 reasons why the Nigerian economy is becoming very hard.
1. We solemnly depend on foreign countries.
When you compare our imported products to our homemade/exported products, you will see that our imported goods are more than the exported. This is one of the reasons why the economy is so bad.
If we can reduce the import rate and take agriculture seriously, we can be more than 70% independent. Agriculture not only gives food but clothing, shelter, medicine, provisions of raw materials, empowerment of labor, etc.
(Photo Credit: Center For Global Development)
2. We hardly help each other grow.
This is common among us. We hardly assist our neighbors to grow. For instance, you see a person running an organization, but because he is a Nigerian, you don't patronize him rather you patronize foreign organizations doing the exact same thing a Nigerian does. It gives the foreigner a leverage our us.
Let's stop being discriminative to our own people and start helping each other grow.
3. We are profit based oriented rather than solving a particular problem.
When it comes to business, we value making profits more than satisfying a customer. This is one reason why the economy is getting harder day after day.
The reason why money isn't circulating well is because we primarily think of making profits rather than solving a particular problem.
Imagine the poor drainage system in some parts of the country. If the government cannot come up with a solution, an individual can take up the responsibility to solve the drainage issue and thereby stop the flooding.
(Photo Credit: Daily Post)
That way, a particular problem is solved and that individual can generate tons of profits if a passage ticket is created which enables people to pass safely and also value their money with you.
These are the things we should look out for in Nigeria to promote its economy. Stop the social media oppression if you are not adding value or solving a particular problem in the country.
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