How to Make Money in the Recession –pt 1 - 9JAOlofofo | Nigeia #1 gossip site.

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Sunday, 4 September 2016

How to Make Money in the Recession –pt 1


 

By Samuel George

Data released on August 31, by the National Bureau of Statistics confirmed that Nigeria is currently in a recession. Although, it was only confirmed recently, it has been eating up Nigeria for months and government policies undoubtedly have not helped matters.

In these times of economic uncertainty, Nigerians need to take their destiny into their hands and make something of it.

4.8 million Nigerians have lost their jobs in the last year and with the recent recession report it can only get worse.

To make money we as Nigerians need to look somewhere else, away from the traditional jobs. We need to own our own businesses. While there are lots of businesses to choose from, a few have been outlined and are the most profitable and non expensive to startup.

Agriculture will be the focus of today. The government is trying to diversify the economy, the price of food stuff is on the increases and of course the government is giving the sector utmost attention.

The word may sound crude; it sure is a great source of income. Maize for example which takes about 3 months to mature and less than a month to dry will cost you less than N150,000/hectare from planting to harvesting. On sales you should have a turnover of at least N300,000 which puts your profit at about 150,000 minimum. As at last year a ton of maize was sold at about N80,000 but now sells at over N110,000. Considering the fact that Nigeria isn’t self sufficient in these areas, the price of these commodities will most likely be on the increase. Other profitable areas of agriculture include Catfish, Soya beans, Cassava, and Rice.

Stick around as ‘Part 2’ of how to make money in the recession to be out in 72 hours.

Keep to conversation going; follow Samuel George on Twitter @9JAsamuelgeorge

 

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