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Reason For Economic Recession In Nigeria - Politics - Nairaland

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Reason For Economic Recession In Nigeria by mansholay: 1:44pm On Sep 08, 2016
Several people have said a lot about the recent economic meltdown in Nigeria, with diverse opinion on the effect without or with little say about its caused and as we all know that there is always cause and effect of everything will do in life. First and foremost we have to ask ourselves whether we are at anytime prepare for what is happening now or not, if yes do we save for raining days? Saving is an aspect of macroeconomic variables that leads to Capital Accumulation that will definitely translate to investment and the more investment in a particular society will bring about more output and create employment generation that will bring about high per capital income, and this will lower level of poverty and this will boost the economic performance of such, but in our own case reverse is the case where our saving habit is low not as a result of not willing to save but as a result of other factors such as high dependence population as a result of unemployment crisis, low per capital income, and so on. Moreover, the little being saved is diverted to unproductive sector by given it to some politician to do electioneering campaign, then how do we progress from this kind of attitude without experiencing economic meltdown. Secondly, each and every individual need to cultivate the habit of purchasing local/domestic goods rather than imported products, by implication every product we buy from international market is creating employment opportunity for the citizen of that country and promote high unemployment rate in our own country, therefore we should encourage our locally made product to excel so that they will need more hands in the production processes, and reduce the level of unemployment, poverty and our economic status can be revive back to the normal position. Therefore, everybody has a vital role to play from removing us from this mess. Change start from You and I. change your negative attitude................

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