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A Must Read: Tips To Survive Economic Recession In Nigeria Today - Business - Nairaland

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A Must Read: Tips To Survive Economic Recession In Nigeria Today by donmayorgroup(m): 9:38am On Jul 20, 2016
No one 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 so 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 had to wait several years to get a suitable job.
You might also like>>>Nigeria, Heading Into Recession Says IMF

We chose to believe things couldn’t be so bad, since we were considered the largest economy in Africa, an oil rich country, the purported giant of Africa, but alas, the cost of living has skyrocketed in recent times, the fuel queues wouldn’t disappear, there was no hope in getting PHCN to turn on power for at least 20 mins in a week, the heat emanating from the sun rays 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:

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 online store right now, to avoid the overbearing cost of importation.

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.

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....FINISH UP PLEASE >>>http://www.michaeldoosblog.info/2016/07/a-must-read-tips-to-survive-economic.html?m=1

Cc: Mynd44, lalasticlala

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