How to swim in abundance even in recession
What is recession?
In economics, recession is a business cycle contraction which results in a general slowdown in economic activity. Macroeconomics indicators such as GDP (Gross Domestic Product), investment spending, capacity utilization, household income, business profits and inflation fall, while bankruptcies and unemployment rate rises(Wikipedia)
Do you know that over (7million) Nigerians have lost their jobs since the past 2 years and over 4 million lost their jobs only in 2017(punchng.com) since the start of recession?
According to the National Bureau of Statistics, in the second quarter of 2017, the nation’s Gross Domestic Product (GDP) grew by 0.55% in real terms, indicating the emergency of the economy from recession after five consecutive quarters of contraction since Q1 2016 (When recession started).
From the NBS report the Minister of Finance reported the country is out of recession. This is said because of the NBS report, but this has not reflected on the lives of Nigerians as inflation still remains in double digit (15 – 16%). Nigeria is said to be out of recession but Nigerians are still in recession as cost of commodities is still on the high side.
Nigerians can come out of recession through creation of jobs.
Can we rely on the government for this?
The agricultural sector holds a lot of opportunities for those who are willing.
Why farming?
Farming presents a lot of opportunities in Nigeria. My brother told me that in Jigawa State Nigeria, Karfin Hausa Local Government Area, a hectare of land can be rented for $49.2 per year, for labour and harvesting, you spend $196. From the sale of your produce you get over $2951.3 beside that which you and your family can consume from cultivating rice alone. Since a bag of rice is very expensive in Nigeria, venturing into farming will be a sure way of getting Nigerians out of recession.
No fewer than 112 million (67.1%) Nigerians of the country’s total population of 167 million now live below poverty level as global poor hits one billion mark.
I have achieved much from my years of experience in farming and have learnt a lot from Steemians on the agriculture tag.
Sweet potatoes from my farm
Yam tubers from my farm
I enjoin you all to join us in steemint.com which will assist you in securing your future and bring you out of recession.
- Wikipedia
- National Bureau of Statistics
- Punchng.com
- Shutterstock