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The prevalent economic meltdown has exposed the financial instability of many world economic giants. With countless losing their jobs in the US and UK, the situation in developing and underdeveloped countries is almost falling off the edge of survival. In Zimbabwe, for instance, many middle-class citizens are struggling to maintain a healthy economy. The Zimbabwean economy needs to be resuscitated.
Funnily enough, nobody seems to be exempted from the economic crisis. There have been massive responses from the globe as a result of this unkind credit crunch. Several online economic analysts and researchers have done a good job at proving this point. Consider, for instance, these words: “While there has been much discussion in the media on the state of the US economy, what about the rest of the world? From Greece to Guadeloupe, from Italy to Indonesia, from Chile to China, from Egypt to India, countries across the globe are feeling the heat of the recession that started over a year ago in the United States."
In Nigeria, the situation couldn't be worse. The economic crisis has reared it ugly head in the Stock Exchange. The Niger Delta has not helped matters a bit. It is during economic crises that fuel scarcity makes an epileptic return into the system. When asked for his view on the issue, Isidore Sonariwo, the Managing Director of Lekki Concession Company (a company with primary focus on infrastructure development and operations management), says, “As I have already indicated, Nigeria needs to devote effort to developing other sectors of the economy. We are blessed with plenty of arable land for agriculture; a range of untapped minerals that can be mined and sold in the global commodity markets; a vibrant culture, nice beaches and waterways for tourism; and resourceful, intelligent and resilient people; amongst other things. We need to understand, nevertheless, that we will not change Nigeria overnight. Accordingly, it will be important to establish clear long, medium and short term plans, and to stick to them. Although things appear to be changing for the better, I believe that it is fair to say that we have historically been too biased towards short term thinking at the expense of the long term.”
However, a lot of Nigerians are not losing courage. As hopeful as ever, we are going to fight the crisis till the end. Despite the Niger Delta situation, intermittent fuel scarcity, power instability, the reduced exchange value of the Nigerian Naira etc., Nigerian’s have persevered the economic meltdown well. In fact, in my own opinion, Nigeria has dealt the crisis a good blow!
At times like this, we youths must realize that we have a lot to contribute to remedial efforts. Whatever good our hands find to do, let's do it well! Let a formidable bunch form, reach out, consult and share ideas. Let’s work against the tide of the economy and persevere because, in due season, we'll overcome this meltdown and smile again!
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Ayo Morakinyo
Ayo Morakinyo is an optimistic impact maker who desires to see people live their lives with worthy purposes while contributing to national and environmental development. He believes that a serious pursuit of this goal would make our environment (communities & societies) a more conducive habitat thereby reforming our homes into well-built nests where good citizenship is inspired and effective leadership is encouraged. Ayo has had 5 years experience in writing and some of works have been Published on The Jenda Journal, World Bank's youth portal and the Commonwealth Youth Community. He is a passionate Nigerian who believes in the potential betterment of his country and encourages global development.
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