Prepare For November - Are You Ready

Just some days ago Buahri stated that "Nigeria is BROKE".

Earlier before that declaration, Osibanjo had stated that "We will not devalue the Naira"; in the same vein Emefiele also said "We are not devaluing the Naira but ..."

These are statements that are pointing to the fact that ALL IS NOT WELL WITH THE NIGERIAN ECONOMY.

And how can all be well with the economy that has over the past 50 years been heavily and majorly dependent on oil? and at the present times, even Countries that are not expected to have oil announcing that they have also found oil at their back yards, making that resource more abundant than ever, and even Countries that used to be at the beck and call of Nigeria's oil are now doing "shakara" and even asking to buy the oil at $20 per barrel?

America is going "oil-less" with extensive research going into finding and exploiting alternative sources of fuel in place of oil.

You need to know that:

*        The Naira is severely under pressure not to hit the N300 per dollar mark

*        About 2 million Ex-Corpers have been added to the labour market, thus increasing the percentage of the unemployed to more than 35%

*        Oil prices have slid to close to $40 per barrel, shattering all the bench marks set for the 2015 budget and even threatening the 2016 budget that is yet to be prepared

*        Inflation has hit a 2-digit all time high of 13%

*        The percentage of Nigerians living below the poverty line has greatly increased to more than 70%

*        There have been massive retrenchments in the Oil and Gas, Banking, Manufacturing and Industrial, Telecom and hospitality Sectors, thus overburdening the already burdened unemployment market

*        In the past 2 quarters, there have been no growth in our economic indices and the Government has even drastically reduced its own economic growth projection from 7.5% to 2.5%

So, November is certainly not going to be easy at all, and the time to prepare for it is NOW - infact Today.

Inspite of these bad news, there is still a piece of good news

Remember the saying that when the going gets tough, the tough gets going?

Well then, this is the time to be the tough and keep going

Prepare for November, don't say I did not tell you

#DrJTF