I saw an old coin at my mum's shop today. It was an interesting piece to me because I wasn't born in the era when coin was a thing in Nigeria. This got me talking to my mum about how badly our currency and economy had diminished through the years. My mum told me how she would have spent this 10kobo if it were the 90s. It was so depressing for me cause I which to be born in the era where 10 kobo was a thing. I'm sure some of us have not seen 10 Kobo in real life haha.
Looking at our economy, I can't really blame anybody for their actions, even the president, and here is why; As we all know it takes every Nigerian to make up Nigeria and it takes every one of our economic and commercial activities to make up our economic status, so I can say it is not only our leaders that influence our economy, we have our impact in the economy too. I know some political decisions or laws can influence our activities but aside from that there are some choices we make that are at our discretion and not influenced by the government, for example, hoarding; most sellers will hoard their goods at the slightest increase in price or demand of goods, this makes the goods scarce, allowing them to sell at a higher rate.
Another scenario was a while ago when the Nigerian government closed the border to increase production in Nigeria and the trade of locally made goods which will give us a favourable balance of payment and an increased GDP, but how did Nigerians react? They start to complain instead of coping and being tolerant. It would have impacted our economy positively.
I wanted to weave my hair recently and weaving usually costs 300-500 naira is now about 1k this got me thinking, why has weaving gone up in price, is her hand now expensive but then I realized that every cause has an effect. The fact that nearly everything is expensive now has affected her normal price and for her to make ends meet, so she would increase how much she charges. For example, just an increase in the price of fuel can affect literally the price of everything, and that is what is happening.
In conclusion, how can we as individuals impact our economy positively? How can we make that dusty 5 naira meaningful again? I have tried to think about this but here are a few tips I think would help: honesty and transparency; maybe reducing our population, and lastly love and selflessness, we should try to consider others in our dealings.
Thank you for visiting my blog and have a fabulous day ❤️✨.
All images are mine
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