#BounceExclusive: Three Things You Can Do To Help End Recession
The prices of most items imported into Nigeria are still increasing while others have double in some special cases tripled.
It all began in the second quarter of 2016 when recession crept in.
A policy analyst, Boniface Chizea believes there is a need for Nigerians to play their role, even as the government makes effort to reflate the economy.
Three things we must all do to end recession ASAP
1 Buy made in Nigeria goods: This will promote indigenous production, as imported goods do not earn Nigeria any foreign exchange. “Those things that are imported are far more expensive and not within the reach of the people,” the policy analyst said.
2. Learn to Save Today and Take Tomorrow: Saving should not just be limited to money but other consumable goods including power. It is amazing to bulbs placed outside buildings turned on during day time.
“As much as people complain that salaries are not adequate, all they need to do is to live within their needs and make some savings.”
3. Invest in Nigeria: Dr. Chizea says there are small businesses Nigerians can invest in. “They can invest in the capital market or buy treasury bills that are even cheaper and less risky”.
Anyone that can apply these three things will be playing a great role in making the economy bounce back as soon as possible.