Dealing With The Pains & Frustrations Of Economic Recession In Nigeria

economic recession nigeria

September 17, 2016 – Dealing With The Pains & Frustrations Of Economic Recession In Nigeria

It is no longer news that the Nigerian economy is in a recession, on a daily basis distressing news of job losses, increasing cost of goods and services, closure of businesses, scarcity and high cost of foreign exchange, owing of workers, and increased crime rate, are reported by the media.

The adverse effects of the nation’s economic downturn is borne by individuals and families, there has been media reports of people who have been driven to commit suicide on account of economic hardship and frustration.

Crime rate has been on the increase, and some people claim they got involved in criminal activities due to the current economic hardship. In many homes, conflicts, quarrels, and disagreements are the norm, a lot of family relationships have been strained due to loss of income, and difficulty in providing basic needs.

What can individuals and families do to deal with the pains and frustrations of the current Nigerian economic crisis?

Here are some steps that can be taken to handle the pains and frustration facing many today.

STEPS TO TAKE IN DEALING WITH THE PAINS AND FRUSTRATIONS OF ECONOMIC RECESSION :

1. Have a positive mindset ; your actions are a reflection of your thoughts, keeping a negative mindset makes one to see obstacles, gloom, and doom. A positive mindset makes one to see hope and possibilities.

2. Have an action plan ; wishing your problems go away may appear to be soothing, but it does not solve problems, a well thought out plan and action is required to solve a problem.

3. Make needed life style changes ; as the economic situation bites harder, life styles that promote wasteful and reckless spending of money should be put under control. It is not wise in times like this, to put up appearances and live above your income.

4. Ask for help when you need to do so; there is no gain in suffering and dying in silence, when overwhelmed by financial obligations you should ask for help from those who can offer it.

5. Don’t dwell on bad news ; bad news seems to happen every day, and cannot be avoided, but you can make conscious efforts not to focus on the negative reports you hear. Avoid gatherings and discussions where bad news is celebrated. Dwelling on bad news promotes feelings of hopelessness and depression.

6. Share your problems with trusted friends and family members ; in times of adversity, isolating yourself from friends and family members is a step in the wrong direction, comfort, love, and support from friends and family is essential in coping with pains and frustrations in times of difficulties.

7. Avoid actions that will compound your situation ; financial spending and decisions should be well thought over, actions that leads to debts and unnecessary purchases should be strongly avoided.

8. Put God first in all things ; in the midst of the current economic travails, our trust and believe in God should remain strong, God sees and knows our pains and frustrations, and God will make a way of escape for us, while we wait on Him.

The economic recession has brought hardship to many, getting involved in crime, or considering suicide is not the right course of action. Taking actions to work out solutions to the problems we face is the right way to go.

The current economic recession in Nigeria is not a permanent situation, but a temporal one, it will come to an end in the next two to three years. We should not lose hope, tough times don’t last, but tough people do.

[By John Uzie]