By: Macbeth Ojugbeli & Osamagbe Egharevba
Why the decline in our economy? Are we not the giant of Africa anymore? Nigeria, a land of peace and wealth as finely jeopardised by ethnicity, ‘faith’, greed, godfatherism and prebendalism. Our economy, a crippled drained life just like a failing mansion embedded with downtrodden; all down to Recession: a reduced economic activity via maladministration.
Drastically, the economy of Nigeria has pushed aside all thoughts of hedonism as everyone becomes innovative. Sellers now have new roots to gain by cheating buyers and inflating prices just to meet up with other things; workers spend less due to these inflations in price of goods and services yet no increment in remuneration; government officials now spend with caution to avoid attracting the wrath of Economic and Financial Crime Commission (EFCC), prices of basic commodities are rising by the minute and the cost of basic amenities is far from affordable. The worst of all, the economy have turned so many students into becoming ‘business tycoons’ on campuses. These are some of the problems that are propelled by inefficiency in management as well as incompetence on the part of our leaders.
Before now, the onus of training children in school resides on parents as tradition, ‘faith’ and society finely accept it. Presently, parents have little to take care of the house due to inflation of prices and no increment in salary, perhaps, even the soils do not understand there is recession to yield more for the farmers. What then is the students’ fate when their monthly allowance barely sustains them for a week or at most two weeks? That is if you actually receive these allowances from your ever struggling parents. “What to do” than verge into making money for themselves? Those who are very fortunate to reject advices from unscrupulous and recalcitrant friends into involving in illegal and unwholesome businesses like prostitution, theft, gambling, etc. would resort into trading in order to keep body and soul together.
Nigeria’s present economic downturn has undoubtedly taken a toll on the various sectors of the economy especially the country’s institutions of learning as many students have now become sellers just to ensure that they live up to expectations. When you explore some of the higher institutions in Nigeria, you would be surprised to see the rate at which students involve in various forms of businesses. These businesses range from sales of various kinds of food and snacks, clothes and shoes, home appliances; repair of phones and laptops and sales of different kind of accessories and even foolscap sheet for tests are sold by students. Some even travel miles to work as stewards in wedding or burial ceremonies. All these are the problems that are propelled by inefficiency in management finely traceable to obtuse leaders.
It is quite an unfortunate situation because students who are supposed to be in school and devote their time to learning now have to ‘split’ their time; part of it for studying and another to businesses. This is just one of the painful upheavals in so many higher institutions in our country that claims to be the giant of Africa over the years. This leaves one to wonder if our country Nigeria is really a giant or an ant amidst African states. For how long shall we continue with such a bleeding economy that the offshoot is problem upon problems?
