Economic Recession: 5 Ways To Survive In Nigeria Today

Whoever could have predicted the state of the economy today after the change we so desperately sought after in the country was granted!

With a new government and the aggression with which it fought the corrupt state which has eaten deep into the system today, we all started living in a fool’s paradise. Thinking the price of petroleum will probably fall to 20 naira per litre, thinking we’ll be privy to electricity at least 20 hours in a day or that a dollar will be the equivalent of a naira.

We concluded things couldn’t be as bad, since we were considered the largest economy in Africa, an oil rich country, the purported giant of Africa, but alas, the fuel queues wouldn’t disappear, there was no hope in getting PHCN to turn on power for at least 20 mins in a week, the heat emanating from the sun rays has become increasing unbearable, well-paying jobs have become scarce and the foreign exchange rate has become heartbreakingly high.

Hence, our survival instinct has to kick in. Here are a few tips on how to survive in the face of the economic instability plaguing our beloved country:

1. Start a business to address unemployment:

If you already have a job, please do everything you can to keep it, as times are hard. However, if you are currently unemployed, the best way to tackle unemployment is through personal empowerment. Entrepreneurship is key, start something today. Even if it’s a small trading business, monetizing your writing, event coordination or planning, get something done.

Tap into the various industries at your disposal, people who stay in Lagos love to party, get into a catering business, start small but who knows, you could probably end up catering to bigger events or even be hired as an interior decorator at the homes of some affluent people living in the upscale residential areas of Lekki or some of the best accommodations in Victoria Island.

2. Minimize or stop foreign purchase for now:

I know this is no easy feat, but you have to buy Nigerian to grow the naira. The consolation here though is that our indigenous fashion designer for instance are doing a tremendous job right now. You can get your fashion apparels from stores like shopmaju or the 5k store. Get your household items, appliances or accessories from online stores in Nigeria. Stick to Jumia or Konga right now, to avoid the overbearing cost of importation.

3. Use cheap hotels only:

If you have to travel round the country, avoid staying in luxury hotels in Nigeria for now. If you need a place to stay close to the airport, stick to affordable hotels in Ikeja, like the Ibis Hotel Ikeja which lies in close proximity to the Murtala Muhammed Airport and Ikeja City Mall.

The hotels in Lagos and Abuja are considered to be on the high end of the cost spectrum but you can get affordable accommodations like the Bolton White Hotel and Apartment online through Jovago, Africa’s no 1 hotel booking portal. You are assured of great deals and amazing discounts on all hotel across the country.

4. Maintain the Nigerian sense of humor:

While we continue to struggle with the seemingly unabating economic hardship, our will to survive should be the greatest resolve. We must ensure that we retain the Nigerian sense of humor, for which we are well known. Humour is a sure way to cope with all the hassle and it lifts all the pressure off us.

5. Fight the heat:

To protect yourself from the health consequences of the heat wave, stick to wearing light and loosely fitted clothing, drink plenty of water, use a deodorant spray and wear sunglasses.

Featured Image: Ghetty Images
Written by: Mariam Banwo Barry


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