The headlines in recent months have been anything but inspiring for employees of major companies and corporations in Nigeria. A few of those;

– Premium Times Nigeria reports that Zenith Bank sacked over 1,200 employees.

– The Punch says Diamond Bank fires 200 workers.

– The Nation Newspaper‎ also said Ecobank Nigeria sacked 1040 workers.

These are but a few of the headlines that profile the ever increasing volatility of white collar jobs in Nigeria. These numbers are very disturbing; means of livelihood are taken away from families. And this is not only happening in the banking sector; it is almost in every sector or industry of the economy.

This is because businesses when faced with high costs of operation, apart from increasing prices and or reducing offering per unit of offering; they also look to cut jobs. In the Nigerian context, foreign exchange palaver has really affected companies; prices of imported commodities have gone through the roof, with its resultant ripple effect on the prices of other commodities. In all honesty, it’s never easy to see how these happenings affect ones job, because according to Nassim Nicholas Taleb “a monthly salary is a harmful addiction” until when its too late. If not for anything it shows no one is insulated.

This only became real to me, when the “job-cuts” wave crept into my workplace, colleagues started getting ‘letters’; people who I didn’t think were sack-able got the boot. And trust me, few if any of these people would have had it in their plans that their works would soon be taken from them. Not certainly in these times when every commodity seems to be sold net of subsidy; try tomatoes few months back.

But even when one is prepared, the effect can always be tougher than imagined. But here is one solution; starting a side hustle. Everyone needs a side hustle of some sort.

What is a side hustle?

A side hustle according to entrepreneur.com “is a way to make some extra cash that allows you the flexibility to pursue what you’re most interested in.” This is a chance to do on the side something that appeals to you with potentials of extra cash and yet keeping your day job. For you, it may be writing, while it may be dancing or making pastries for someone else. Over time these can become a stream of income.

Why you need a side hustle in Nigeria today

1. Your day job is not as safe as you think; we need to wake up to the reality that our day jobs aren’t safe anymore. There was a time when people graduated from universities and hot off the press are recruited into corporations where they get to work till they retire. Those days are beyond us. You only need to look at the Job creation reports in Nigeria to fully understand how dire things have become. A side hustle gives you a cushion against the uncertainties of the work place

2. Opportunity to make more money; for most, this is the most motivating factor of starting a side hustle. Everyone needs that extra bit of income to support the main hustle; your day job. But is that really all?

3. It may improve you at your day job; if your side hustle somehow relates to your day job. Then both hustles will rub off on each other. They somehow become symbiotic; as you improve one, you invariably improve the other. If for instance you are very good in Excel at your day job, starting an excel tutoring blog or YouTube channel would not only make you some money but also make your excel skills better, which would greatly improve you at work.

4. May turn to a main hustle; over time you may come to realise that your side hustle is starting to pay-off way more than your main hustle.

5. Develop other skills; Your side-hustle can afford you the opportunity to become a good sales person, you could also see yourself learning how to manage a business.

Final thoughts; choose side-hustles that play to your strengths and complement your day job. Also be on the look-out for ones that will leverage your basic experiences and network.

http://lightednation.com/2016/08/need-side-hustle-nigeria-today/