What are the adjustments you have personally made to cope with the present economic conditions in your city// 25% set to null

Hello friends, I'm elated to be penning down my engagement for this week, you can go through below for a proper absorption of my article.

The economic situations in my location

It is obvious that most economy's of the world are really going through hard times like; increasing rate of inflation, insecurity, natural disaster etc. Although these malignant and good economic scenarios are not just humanly invented as we can attribute the majority of them to be divine.

We can recall according to certain Economic principles that after certain seasons of depression, there is always a boom but this is not always true as there has been a constant increasing rate of inflation, insecurity and poverty in my country since its creation from 1960 till date.

Taking inflation for instance, Nigeria's inflation rate stood at 5.44% in 1960 and currently as of last two months (May) the NBS (national bureau of statistics) gave a confirmation that our economy's inflation rate stood at 17.71, which is highly malignant to the Masses as no economy can make Hayway with such rate of inflation.

Taking a comparison of this adverse effect from 1960 till date for instance, a product that was sold at 200naira in 1960 is currently valued at about 856,235 naira. That is, taking a statistical observation of the average inflation rate of about 16% each year.

On the other hand, we're also ravaged by increasing rates of insecurity and poverty as everyone now lives in fear, if not for divine intervention because of most people's inhumanity where people are now kidnapped while others are being slaughtered without mercy and some others losing their properties without government indemnity.

All these have posed a great threat to our economy and all citizens at large. Moreso, we have an about to be conducted election which which has also reduced the rate of money in circulation in my location (Nigeria) as majority of our politicians have withdrawn high volume of money for campaign and had also created an adverse effect in my location.

Some of the government subventions, policies and palliatives put in place to help in reducing the overbearing rate of inflation in my location

We all know that inflation is a continuous rise in the prices of goods and services.
Nevertheless, there are some policies by my government enacted to curb this menace in the society although most of them aren't current development but a few of them includes: Operation Feed the Nation (OFN) Youth Empowerment.

These are the two major programs by my government to reduce inflation at the moment but they're too myopic to with such a bantam agenda for instance,

• Operation Feed the Nation (OFN).

This program was introduced not really by the incumbent government but by one of Nigeria's former president Olusegun Obasanjo with the aim of improving the rate of productivity that's absent in the Nigerian agricultural system but this aim has been limited to just feeding government primary school pupils by the incumbent government which has not affected inflation positively in my location.

• Youth Empowerment.

This program has been sustained over a few years and it is geared towards improving the Youths productive capacity in the nation as they are empowered through learning some skills and also sensitizing others on the acquired skill. Some of these skills include Teaching, Technical skills, agro based skills, medical skills.

Furthermore, this particular program has not affected inflation in an obvious and reasonable way because it only favours a few persons. In this regard also, the fortunately affected persons receive a stipend of about 10,000naira to 40,000naira as non-graduate for 3 months while graduates receive the same amount for 2years. But in all these strategies, the country keeps experiencing chronic inflation because we have not properly employed the best strategy to curb and extirpate the menace of inflation like;

Reduction in tax rate which will in turn increase per Capita income and finally boost the rate of productivity.

Reduction in tariffs and lifting of trade embargoes, as this will also aid improved rate of importation and exportation of goods, geared towards ample productivity in the domestic economy.

Increased expenditure by the government. This is where we do get it wrong most times in my location. For instance, my president recently signed a budget which contains a total expenditure pattern of 17.127 trillion naira, and I asked myself if all these monies were properly deployed would there be anything like poverty in my country? but most of these monies are diverted into many dubious and fake projects of which if such expenditure had been properly followed, it will in effect create job opportunities to the masses and also reduce inflation to some extent although inflation on its own is also a tool for development for instance when there is excess money in circulation within a region, the government create means to collect these monies from people by reducing the rate of productivity in the local economy and this will in turn cause inflation and do justice to the meaning of inflation it is just plenty money targeting or pursuing a few goods.

Finally the government could have continued their subsidy program on petroleum, especially fuel as this will help the local economy to produce at ease because the removal of subsidy on petroleum products has forced the masses into paying more on those products and this has also contributed to the current rate of inflation in my location. So if the government retains the subsidy program, it will help local investors to also keep the cost and prices of their products low and affordable by the masses.

Some of the personal adjustments I have made to help in reducing the negative economic impact around me.

Yeah it's really not easy as a fresh graduate that is trying to cope with grace in such a harsh economy but since knowledge is profitable to direct, I have first learnt to cut my cost at every sphere of my living for now.

Before gaining admission in 2016 to study Economics in the university, I learned masonry from my late Dad who was an engineer and this was easy for me to learn because I do help him in estimating building calculations and also pegging client houses. But currently, the work seems like wrestling with an elephant as I can't sleep at night after doing the job.

Moreover, I've been working as a barber and also waiting for the strike to be called off so I can go for service and then face my career squarely, as this is the major strategy I've put in place to help in reducing the effect of this inflation on my side.

I like eating a rich diet smile😀😀򐀠but currently, I've reduced my spending on food as never to go begging for any reason. So I cook more of my favourite but indigenous soup which lasts longer but is properly preserved against getting sore because of the weather. Moreover, I've deployed a 101 eating strategy to save some money for miscellaneous purposes.

My recommendations for the audience

Yeah, my recommendation to my audience is just to cut your cloth according to your pocket because what is happening is really a global issue if it is not poverty in Africa it's war in the west. We can also attest to the war between Ukraine and Russia has malignantly affected many things globally and the insecurity in most of our African Nations has also forced investors out of our regions.

Finally, do what you can, this is the end time, all these things have been written long before now, so we have to go through it because the scriptures cannot be broken. it may stand as a mystery but it's a reality that we can't deny or possibly escape. Bye to all my good neighbors, let's try and keep strong, thanks for checking on me.

I also invite my friends @successjoh @talktofaith @kingworldline @bukkyi4u to also join in this beautiful contest.