It's no longer news that we're having very serious economic challenges. Folks are losing jobs, the price of crude oil is even projected to drop a little further than it has already, private sector is struggling to keep its pace, workers will have their salaries reviewed downwardly. If there was ever a time I felt economic pressures, it's NOW. In fact, I spent my LEAST during the last Christmas and New Year celebrations; the handwriting couldn't be any clearer.

It's my habit to way always seek to glean positives from any negative situation; learn from the mistakes of others and then move forward. I believe this message should have been in some other sections but I felt politics and the economy are inseparable, hence it's here. It's my sincere desire that a few of us could learn one or two lessons from this message. Learning never stops.

Every nation is made up of individuals. And it's these individuals that move into policy-making, effectively carrying over their personal habits into politics. Nigeria is suffering from a lot of factors but I'll seek to highlight a few here. If you want a better life for yourself and family, you must do the opposite of what Nigeria did...and is doing.

ONE MAIN SOURCE OF INCOME. For over 50 years, Nigeria has continued to rely on one main source of income. It's absurd that a nation of over 150 million people ties their economic prosperity to only one source, especially one that's so unstable and volatile in the international market. A lot of our FOREX depends on this single source. We've continued to pay lip service to Agriculture and other sources. So is it with any individual who enjoys only ONE source of income. The person is akin to an individual, who like Warren Buffet will say, is swimming unclad beneath a pool of water. The water is gone and their unclothedness appears to all to see. If you have only one source of income, you need to start making serious efforts to seek other means of income. The more the streams, the better you're placed economically. Nigeria is finally paying for its decades of lack of vision, focus and proactive thinking......and the price may become more grave as the year wears on. Look for alternative sources of income. Just an advice.

A CULTURE OF WASTE AND FOOLISHNESS.

For the past decades, especially since 1960, only God knows how much must have left the shores of this nation. It was decades of mindless waste and looting. I'll support the current administration in its war against corruption and wickedness, provided it is balanced, full, sincere and honest to all. This isn't a political message but an economic one. Subsequent government and politicians wasted our resources in a way akin to a competition amongst a group of gladiators. We are already paying for that.

As an individual, you must NOT be deluded into the thinking that there's always more to come. Take advantage of the little resources you have and maximise it. Nature abhors waste, and all wasters will pay for their waste in no distance time. Be prudent with your resources; give sensibly and be careful of wastefulness. Our leaders are only examples when we're looking for bad ones.

A CULTURE OF ECONOMIC MYOPIA.

We never saved for the rainy days. We never even believed in it. Now the rainy days are here. Our leaders never believed oil price will drop to this level. ..it at even get worse....we never saved....Federal government never saved; state governments never saved....It was stomach, meagre houses and mundane politics.

The only miracle that saved Egypt and Canaan during the times of hunger and famine in the land of Egypt was the saving culture that Joseph advised the land to undertake. Only fools spend all their resources. After every 7 years of economic expansion, there's almost always 7 years of economic strangulation and hunger. We never prepared....even ants are more proactive than our leaders.

As an individual, the best time to save is when you're doing well and getting money. How far you'll go financially depends on how well you manage your resources drying the first 5 or so years of work. Save and invest a part of your income. Don't be like Nigerian leaders. Be smart with your money. A part of all you earn is YOURS to keep. It doesn't matter how much you earn; you still must save something from your pay or business. You've got to learn to save.

Those who refuse to heed the mistakes of the past are doomed to repeat them. Increase your sources of income; it's all within you. Look around. Reduce your expenses; control your appetite. Plan for tomorrow.

Lalasticalala, Mynd44, money is too important to be left uncontrolled.

Very well articulated, this deserves more exposure, lala how far?

The military planted the seed of corruption,now the corruption has devoured our economy..

We Will Survive...

Cc lalasticlala
Obinoscopy

I smell fp. nice write-up

@topic
Instead of the present govt to put more money in Ministry of Solid Minerals, we opted to put the same scare resources on the Presidency and NASS.

Check out how much the Presidency and NASS got compared to Ministry of Solid Minerals.

dearpreye

DeviIhimself:
dearpreye

My brother, we ought to be smart.......These days are days that demand wisdom.

ticker:
I smell fp. nice write-up

Thank you. These are times that try the souls of men. Thomas Paine.

The biggest lesson is that all Nigerians should shun flambuoyant lifestyles and "I-better-pass-my-neighbour" ego-tripping spendings!!! Nigerians are too loud in spending, wasteful exhibitionists and extreme party-warriors without consideration for investments and savings. This must stop...

All Nigerians must now learn by force the basics of Savings 101, Innovation 101 and Investments 101!!!

Be right back to read

dearpreye:


My brother, we ought to be smart.......These days are days that demand wisdom.

you're 100% right

Thanks

**Claps**

Weldone dearpreye....all you wrote up there is the truth.

While we play politics with the current realities, its a wise thing for us to individually learn from them and make sensible adjustments.

God bless you bro

theV0ice:
Weldone dearpreye....all you wrote up there is the truth.

While we play politics with the current realities, its a wise thing for us to individually learn from them and make sensible adjustments.

God bless you bro

God bless you too. We all must learn and make the appropriate adjustments OR pay a steep price sooner than later.

dearpreye:


My brother, we ought to be smart.......These days are days that demand wisdom.

Absolutely. Was watching cable earlier today and saw that even big timers aren't immune to the disaster- Asian stocks have been taking a serious beating over the spiralling drop in crude price.

The harder the big players are pummelled, the more likely it is we'd get out of this bad situation soon. #my theory.

Now we have to work SMART to survive as a nation.
One good thing is that some set of people will definately come out strong, I mean stronger than they were before the hard time.

Yes, Nigeria as a nation has problem, thatz some people's money.

omenka:
Absolutely. Was watching cable earlier today and saw that even big timers aren't immune to the disaster- Asian stocks have been taking a serious beating over the spiralling drop in crude price.

The harder the big players are pummelled, the more likely it is we'd get out of this bad situation soon. #my theory.

Sure the negative trends will affect almost all the great empires of the world but some are better placed than others.

dearpreye:


Sure the negative trends will affect almost all the great empires of the world but some are better placed than others.

Bro, in addition to your sound points, refusal to diversify the economy is the major problem. Both on a personal level and on a national level, multiple streams of income is an insurance against poverty. More funds should be invested on income generation and less on recurrent expenditure. Corruption and faulty political structures aid in fostering a culture of waste and institutional poverty.

ideykwum:


Bro, in addition to your sound points, refusal to diversify the economy is the major problem. Both on a personal level and on a national level, multiple streams of income is an insurance against poverty. More funds should be invested on income generation and less on recurrent expenditure. Corruption and faulty political structures aid in fostering a culture of waste and institutional poverty.

Thanks for the above......especially on your second sentence......Happy New Year.

dearpreye:


Thanks for the above......especially on your second sentence......Happy New Year.

Same to you bro!

very sound analysis bro. this present predicament should be a great life's tutorship to each and everyone of us.
Nigeria need total overhaul of her economic system. one of the things i noticed is that our economy is not really participating or integrated into the global economy. the government need to come out with strategies that will integrate us into the global economy. also the government must prioritize that almost all the money that comes in should be channeled to infrastructure especially power. once our power capacity is improved, it will enable the industrial capacity to take off. also I believe our educational system must be totally overhauled systematically, because for Nigeria to develop and be a big player in the global economy, we must have sophisticated educational system, not what we have now.

I'm here to read and learn from enlightened dearpreye.

We are so blessed to experience these in our own lifetime, as every wise man will pick up the morals here to utilize in the better days that are to come.

djon78:
very sound analysis bro. this present predicament should be a great life's tutorship to each and everyone of us.
Nigeria need total overhaul of her economic system. one of the things i noticed is that our economy is not really participating or integrated into the global economy. the government need to come out with strategies that will integrate us into the global economy. also the government must prioritize that almost all the money that comes in should be channeled to infrastructure especially power. once our power capacity is improved, it will enable the industrial capacity to take off. also I believe our educational system must be totally overhauled systematically, because for Nigeria to develop and be a big player in the global economy, we must have sophisticated educational system, not what we have now.

our educational system is still stuck in the 50s albeit a low quality version

Chubhie:
I'm here to read and learn from enlightened dearpreye.

My brother, you need to follow this intellectual giant: ideykwum. He's an ocean of knowlege, hiding behind a sobriquet here.

asha80:
our educational system is still stuck in the 50s albeit a low quality version

Unfortunately that's the truth. ..That's the reason I don't joke with self-education.

NavierStokes:
We are so blessed to experience these in our own lifetime, as every wise man will pick up the morals here to utilize in the better days that are to come.

Only the wise will learn from the mistakes of the present.

dearpreye:


Unfortunately that's the truth. ..That's the reason I don't joke with self-education.

if nigeria really wants to change the our existing education geared towards clerical work needs to be overhauled..however more importantly is whether we truly value education again in this country

asha80:
if nigeria really wants to change the our existing education geared towards clerical work needs to be overhauled..however more importantly is whether we truly value education again in this country

Sadly we don't value education....or at beat we've equated it to money. ....but education is the foundation....We've got issues at hand as as a people. ...where are the vocational schools?

lalasticlala Seun obinoscopy
i wonder why this is not on front page yet

dearpreye:


Only the wise will learn from the mistakes of the present.

Well said bro couldn't have been better put, good to see wise men like you making the effort to get others in sync.