This infographic by @TheIntelpoint is a powerful illustration that perfectly summarises the Nigerian economy.
The Nigerian economy is living a “fake” life.
GDP is essentially a measure of output. For example, if I make 100 shoes priced at N1,000 each, the GDP from those 100 shoes would be N100,000. (simplistic)
This chart indicates that Nigeria's nominal GDP has grown not because of increased output and consumption, but due to price inflation. Shoe prices went from N10,000 to N100,000; thus, GDP is driven solely by rising prices rather than an increase in production or household consumption.
This situation explains why companies are reporting billions in revenue; however, their inventories remain high.
A critical issue in Nigeria is the decline in consumption. The rebased GDP reflects this decline, combined with increasing inflation, which creates a “fake” economy.
To truly revitalise the economy, Nigeria must implement people-centric policies that create jobs and provide real incomes for its citizens, enabling consumption and promoting genuine economic growth.
While this post uses simplistic language to explain a complex situation, the concept is not difficult to understand. Have you purchased any new durable goods, like a fridge or a car, in the past decade? Or taken a family vacation to Dubai?
God will send a new source of joy, favor, opportunity. An unexpected blessing, things you can’t explain, streams in your barren place. Click here to watch: "Rivers in the Desert" https://t.co/fzO8ZeVnAZ
David said in Psalm 65, “God will crown the year with a bountiful harvest, even the hard places will overflow with abundance.” This overflow is not just to accomplish dreams, not just to go further, but you’re going to see overflow in the hard places. You’re going to overflow with strength, overflow with wisdom, overflow with health, overflow with favor.
Refuse to be a victim. Don’t play that role. It may have been meant for your harm, but at some point, God is going to turn it to your advantage. He’s going to catapult you to where you can’t go on your own.
Look at people through eyes of compassion, not eyes of judgment. You don’t know their story. We see what people do; we don’t know why they do it. Let’s be healers. Let’s be lifters. Click here to watch: "Be a Safe Place" https://t.co/fzO8ZeVnAZ
If you’ll stay in faith, you’re going to see the new thing. God is going to break generational curses, addictions. Poverty and depression will no longer hold you back. There are about to be streams in that desert.
Every thought says, “You’re limited; you’re stuck. The giant is too big; the dream is too great.” That’s okay. That’s when God steps in. He’ll breathe in your direction and give you favor, ability, and blessings that will take you where you can’t go on your own.
I think that as Nigeria, we should glamorize education, science and technology too. Not just entertainment. Yes, we’re uber great at entertainment but we need the 100-million-Naira-prizes for science and people with truly unique projects. Let’s have celebrity educators too.
What God is about to do is going to be unusual, uncommon, out of the ordinary. You’re going to see rivers where there should be dry places. That’s why you can’t figure it out. It’s not going to be logical.
BTC is at $103,863 today
A month ago, it was $ 84,549
22% gain in 30 days if you ignored the “noise”
Securities will rise and fall, but have your strategy on lock
Remember: there are always people out there who are more aggressive, more devious, more ruthless than you are, and it is inevitable that some of them will cross your path.
People will try to define you into becoming the version of how they see you. The problem is they can’t see the greatness God put in you. They can’t see the gifts and talents. They’ll try to limit you to what they see right now, but they’re not seeing the full you.
Every day you face battles—that is the reality for all creatures in their struggle to survive.
But the greatest battle of all is with yourself—your weaknesses, your emotions, your lack of resolution in seeing things through to the end.
Don’t fear people; fear God. If people don’t approve of you, that’s not going to stop your purpose. What will stop you is if you let their opinion become more important than what God has put in your heart.