The 2016 Budget, to some, it is an answered prayer, to another it is a thorn in the flesh while to some others, it is like hell was let lose. However, from a school of thought, it is believed that the description or definition of a thing is largely dependent on perception. So, that means whether good, bad or ugly your perception isn't wrong we may just be having a different view.

So, What Are We Looking at Today?

In my post last week, I mentioned few points that justify the high figures of the 2016 budget in my opinion and I got so many reactions from people at a different stance about the matter. Does that really change anything about my opinion? No, rather it did move me to write this complimentary post to buttress my point on this matter. The reality is, consciously or unconsciously the budget is about you and me. It is designed to make some people and mar some other. It is holding in its hands blessings and curses for everyone involved, a combination of good and bad to trade with whoever cares but, what do you see?

If truly The Budget 2016 is presented as the Budget of Change, and it is to focus largely on sustainable ECONOMIC GROWTH, JOB CREATION, INFRASTRUCTURAL DEVELOPMENT and SOCIAL WELFARE PROGRAMME, DIVERSIFICATION of the revenue base from NON-OIL REVENUE, particularly from AGRICULTURE and SOLID MINERALS with N6.08Trillion Expenditure at a deficit of N2.2Trillion and oil price is projected to be $10 per barrel already, there will likely be these three (3) sides to it:

THE UGLY SIDE

In one of the comments I got on my post last week, someone raised a brilliant point about "....companies already declaring losses, shedding staff, people losing jobs, economy receding,....etc., because of the economic situation" and you know what, I share his feelings but not without insight. And in my own view, here are some more ugly things we should expect;

Many companies are likely to be acquired, merged or outright closure due to heavy taxation and excise duties especially on imported goods and services. And if you are a small business owner expect your own portion of this bitter pill too.

Workplace condition will be stiffer and unbearable for many. Jobs will be lost, people will be forced out of work too and lot more worse things are likely to unfold due to the unfriendly weather of the economy for businesses generally.

The country will borrow to run the country and since oil is no longer dependent, they will likely want to look inward such as recovering arrears of collections and dues that have been looted or evaded to run the country.

States and Local Governments are likely to be more strict on the collection of taxes and dues because allocations from Federal purse may not come as expected for same reasons as above and if they want to run their states they have to look inward. My fear here is multiple-taxation.

With focus on Infrastructural development, many illegal locations for markets, shops even buildings may be demolished or advised to move to a planned location to expand roads and other projects structural projects for urbanization.

Things are going to be very hard and people will be the one to determine their own fortune.

THE BAD SIDE

I saw in a short video documentary done by CCTV on Facebook last week showing how people are selling off their stuff. A young man was interviewed and he said "it is due to the economic harshness". A car dealer was also asked, he said there is no much patronage and buyers aren't coming because the economy is bad. Their perception is also true because;

More people may likely sell some frivolous belongings, things that aren't so necessary but just for some fancy lifestyle. Others will barter a lot of personal stuff too just to keep up with life.

Salary may be slashed in some sectors and people may have to cut down on their expenses. In order to have more to spend, many will take to exercising by walking some distance they often take Bike, Keke or Buses to. Others may cut down on frequent visitation to eateries and resolve to have a taste of "Mama Johnny delicacies" to save few bucks.

There may be delay in paying salaries as some business activities will be unpredictable, and employees will tend to want to borrow, take salary advances or patronize money lenders at exorbitant rates.

There may be slashing or cancellation of some benefits due to workers, because cost reduction and monetary value will be the goals of some companies this year.

Inflation rate is predicted to be about 10% with Naira devaluation estimated to be around 10% - 15%. N1000 may no longer buy you so much again.

I can go on and on but let me quickly talk about the next point:

THE GOOD SIDE

“Everything has beauty, but not everyone can see.” — Confucius

Going by the content of this budget, it shows that the governments already envisage these realities and made provisions for ways to make changes without much damage.

The budget will improve the real sectors and make the country a producing nation and not consuming nation.

A number of fresh intervention funds might be introduced to stimulate economic activities in the non-oil sector. Agriculture, solid minerals and SMEs remain key focal points (I hope to make a post on this next).

They indicated intentions to create more jobs, through access to funds for small business startups and direct employment into various key sectors.

The capital market outlook may likely be bearish and if you have ever dreamed of owning a company this will be a good time to buy stocks because price will fall to pick up later if everything goes as planned in the budget.

ANOTHER GOOD SIDE OF IT

This may be the beginning of end to laxity, mediocrity and indolence in our generation.

There will be liberation from comfort zones into deliberate lifestyle focus on responsibility for Nation building and Personal Economic Prosperity.

People will discover their pain point and skills. They will seek for ways to dig out and channel the course of relevance.

This time will force people to take charge of their lives. Many will take life seriously and be self-reliant.

Many CEOs will rise and freelance jobs will be available for different categories of skilled works.

New opportunities will surface and people will be more conscious of it as knowledge will increase.

This may be the time for you to take the leap and start that side business because banks, Individuals and Institutions will be looking for laudable business to invest in and not some hand to mouth ideas.

FINAL THOUGHT

I intend to make this an eye-opener to everyone reading it. I intend to help you achieve Clarity and Confidence to develop Strategy for your PERSONAL ECONOMIC PROSPERITY even in the face of this harshness because I still believe the budget to be a force for the emancipation of a Great You and a Great Nation that we all desire if it is properly implemented in good faith.

I will be in the comments to hear your view.

Thank you.

2016 2016

However, am optimistic about 2016

and I also don't disagree with the @op on his "FINAL THOUGHT".

You mean some people so much believe the trash they think about and are bold to post it on nairaland.

It is quite sad that someone who cannot put is thought down coherently would post trash on a public forum like nairaland. Anyway, as he said it is his opinion.

RESPECTnoble:
2016 2016

However, am optimistic about 2016

and I also don't disagree with the @op on his "FINAL THOUGHT".

We all should be optimistic, It doesn't cost a thing.

agitator:
You mean some people so much believe the trash they think about and are bold to post it on nairaland.

Belief and Courage sometimes differentiate between a loser and a winner.

agitator:
It is quite sad that someone who cannot put is thought down coherently would post trash on a public forum like nairaland. Anyway, as he said it is his opinion.

. I won't expect less from an AGITATOR. I know one to be a rebel and loser who do nothing but to stir bitterness and engender division.

peterpierre1st:
Belief and Courage sometimes differentiate between a loser and a winner.

pay no attention to him my brother, he is just a doubter, some people have been slaves for so long they don't understand or see opportunities for freedom when it knocks.

Bief:
pay no attention to him my brother, he is just a doubter, some people have been slaves for so long they don't understand or see opportunities for freedom when it knocks.

I won't sir. It will be a waste of time to do so.