Nigeria's Bleeding Economy: A Ticking Time Bomb

 

Nigerians protesting current economic hardship in the country

If you find yourself being a Nigerian citizen these days, a lot of things would probably be going through your mind on a daily basis. From what to eat for the day to how to plan your movements.

The economic hardship currently being faced by the masses has become something of national discuss. 

Cost of living has skyrocketed, Inflation is bitting hard, naira has lost more than 30 percent of its value in the last 8 months, cost of production is killing companies and industries all over the country with unemployment increasing by the minute, kidnapping for ransom is now the order of the day to mention a few.

Prices that one purchase goods in the morning is now different from what you will pay for the same goods in the afternoon as there are no stable prices in the Nigeria market of today.

There have been protest in several part of the country, from Minna to Ibadan, Lagos to Ogun and so on. 

Federal Government Solution

The Federal Government of Nigeria has been trying to come up with several policies and program that will alleviate the current suffering but many of the so called policies have left more questions than answers. 

The government claimed to have given each state the sum of 30 Billion Naira for them to cushion the adverse effect of the current hardship only for some governors to come out publicly and deny this to the chagrin of the masses. 

In a country where one don't know who to believe between state and federal government you can't help but wonder if the government really have the masses at heart.

The prevailing situation has drag many individuals to illegal activities just to survive, children are being taking from private schools to public schools; many homes can barely afford three square meal in a day.

JAPA SYNDROME

Nigerians waiting to board their flight 

The current economic climate has also led to brain drain in in all sectors of the economy; from health sector to the banking and technology sector of the country as people will rather do menial job aborad with great pay than work 8 to 5 everyday in Nigeria just to earn 30 thousand naira a month.

the JAPA Syndrome is now a serious problem in the country as families now sell their properties just to send their children abroad for better opportunities.

LABOUR UNION STAND

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TLC) have embarked on warning strikes and protest all over the country. They've proposed that the government increase the minimum wage in order for the civil servants to be able to cope with the current reality on ground.

In Nigeria, proposing a policy is one thing and implementing it is another. Many states still find it difficult to pay the current sum of 30 thousand naira.

CONCLUSION 

In a country where cost of living is killing the living, one can only imagine how long the masses can hold back before people result to dangerous means just to survive.

With a population growing at an alarming rate, unemployment on the rise coupled with the current economic reality, it will be catastropic if this current reality persist without any solution as we have seen things spilling out of control in several parts of the country.

A stitch in time saves nine!