How to swim in abundance even in recession
What is recession?
In economics, recession is a business cycle contraction which results in a general slowdown in economic activity. Macroeconomics indicators such as GDP (Gross Domestic Product), investment spending, capacity utilization, household income, business profits and inflation fall, while bankruptcies and unemployment rate rises(Wikipedia)
Do you know that over (7million) Nigerians have lost their jobs since the past 2 years and over 4 million lost their jobs only in 2017(punchng.com) since the start of recession?
According to the National Bureau of Statistics, in the second quarter of 2017, the nation’s Gross Domestic Product (GDP) grew by 0.55% in real terms, indicating the emergency of the economy from recession after five consecutive quarters of contraction since Q1 2016 (When recession started).
From the NBS report the Minister of Finance reported the country is out of recession. This is said because of the NBS report, but this has not reflected on the lives of Nigerians as inflation still remains in double digit (15 – 16%). Nigeria is said to be out of recession but Nigerians are still in recession as cost of commodities is still on the high side.
Nigerians can come out of recession through creation of jobs.
Can we rely on the government for this?
The agricultural sector holds a lot of opportunities for those who are willing.
Why farming?
Farming presents a lot of opportunities in Nigeria. My brother told me that in Jigawa State Nigeria, Karfin Hausa Local Government Area, a hectare of land can be rented for $49.2 per year, for labour and harvesting, you spend $196. From the sale of your produce you get over $2951.3 beside that which you and your family can consume from cultivating rice alone. Since a bag of rice is very expensive in Nigeria, venturing into farming will be a sure way of getting Nigerians out of recession.
No fewer than 112 million (67.1%) Nigerians of the country’s total population of 167 million now live below poverty level as global poor hits one billion mark.
I have achieved much from my years of experience in farming and have learnt a lot from Steemians on the agriculture tag.
Sweet potatoes from my farm
Yam tubers from my farm
I enjoin you all to join us in steemint.com which will assist you in securing your future and bring you out of recession.
Reference:
- Wikipedia
- National Bureau of Statistics
- Punchng.com
- Shutterstock
Hi
It’s quite hard to believe that the government will keep the poziton up , so we only hope one day the corruption dies and government will work for the last human been in the world.
@futureworld, we hope so
I hope so,too.
Of course Ana
There is a saying that goes
My able brother-in-law, @eugenecr7, you have proven beyond reasonable doubt that whether or not Nigeria is in economic recession, you can feed your family. My younger sister, @trendyevents and the children have food to eat. Imagine that quantity of corn, Irish potatoes and yams that I see you've harvested from your farm. Certainly, that would be enough to feed your family for a long time. Wow!
Please, follow @papa-pepper, @ewuoso. They farm and blog in the homesteading niche like you do. Agba naguo Well done!!!
@maryfavour & @redfishpillar .
thanks for the mention mum
You are most welcome, @ewuoso. Thanks for your support for @eugenecr7.
@maryfavour, self sufficiency is just the answer to problems of this nature. It gives you inner strength to know you have enough to feed your family. Thanks a lot for your upvote
Yes, when you know that you have enough food to feed your family, peace and joy will flourish. As for the upvote, that is the least I can do to support.
@maryfavour & @redfishpillar.
This excerpt caught my attention. My my my , I have just done the math and that is more than 100 % ROI on rice farming alone. (Spend about $250, profit $2951.3). Nigerians love rice, so the market is there already. Like you stated earlier, the agricultural sector provides lots of opportunities for those who are willing. Keep up the good work!
@maryfavour & @redfishpillar.
The profit is even far more than this that one can get from farming rice. I hope to join my elder brother to do the rice farming when i have the money for it. Its worth it, we can all do it. Thanks big sis
You know a bag of milled rice cost about $62. 3. After the ban on importation of rice it made the price of rice to go up and our local farmers are making a lot profit from it. I hope to buy a beautiful car from my profit on engaging in rice farming in Nigeria.
Wow! I never knew that rice farming was this profitable. Please, keep me posted on any development for investment. I'm interested.
Please join your elder brother. You would be glad you did.
Lovely! Before joining Steemit, i consider farming, though it was rough, but the experience gained was golden. Proudly Nigerian.....
@kuboskeey going into farming is a golden experience we all need to gain as Nigerians
Yeh!!!
Good day all. Please withdraw your votes if you can as one alberto1996 hacked into this account withdrew all his sbd and changed his account name to eduardop. This just happened within 40minutes ago.
This account has been retrieved by @eugenecr7. Thanks to steemit team for their great and very fast assistance. Thanks to @maryfavour for her guidance
this post is very imformative.. kindly follow back and upvote my post https://steemit.com/fact/@dimples/fact-001-educative-entertaining-and-motivating
cheers