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There Are 2 Economic Recessions We Must Battle! - Career - Nairaland

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There Are 2 Economic Recessions We Must Battle! by Nobody: 7:51pm On Nov 15, 2016
It's quite amusing when I think about the trends that ride the waves in Nigeria plus the statements that accompany them.

As at the time when the price of crude oil began dropping in the foreign market, the journey towards Recession in Nigeria began.

International demand for our crude oil fell, price for imported petrol rose and the economy took a downturn as the exchange rate rose (A Dollar For About N400). So many goods & services we enjoyed, rose in prices and it really pinched us.

This was the time the bitter statement "dollar don cost" gained popularity. "Change!" is another statement that spilled from the mouths of Nigerians when it seemed Buhari's Administration was making economic matters worse.

Alright! Here we go! The first type of Recession is National and it is my belief that a better understanding of this 9-letter word will do greatly in driving our country to economic prosperity.

However, the second type of Recession is what I believe to be the reason why it has been difficult & time-consuming, dispelling the air of economic crisis. And that is Personal Recession!

Many Nigerians have been going through a Personal Recession long before Nigeria got into her National Recession! And this is simply because many people consume more than they produce; many people spend more than they earn! And most are not even aware of this vicious cycle.

If asked of the way, out of the pool of financial struggle to the pool of prosperity, over & over again I'll say, ENTREPRENEURSHIP!

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