When these economic indicators decline, so will GDP. Notify me of new posts by email. The — recession saw private consumption fall for the first time in nearly 20 years. We see massive loss of jobs, companies are shutting down and aspiring entrepreneurs put their business ideas on hold to see how things turn out.
Nigeria should change the course of its economy and find a solution to the ongoing recession. According to the national bureau of statistics, more than four million people lost their jobs inand this number has continued to increase in More than half of population in Nigeria live in poverty and hardship. Receseion beginning of showed some positive changes, but they have not affected the whole aspect of the Nigerian economy. What should Nigeria do to change the situation? At least ten steps should be taken to make Nigeria great again! Most economic experts try to proffer solutions to the Nigerian Government.
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Any town and city can be used including rural areas to trade in okriika business. Nigerians including rich and not so rich wear used clothes in varying degrees. Some low income earners wear it as a matter of course, some others wear it because they have spotted designer and fashionable wares. Okrika clothes, Okrika bags, okrika shoes is very popular among Nigerians which makes Okrika business very lucrative. Today the Okrika business is booming, not only because of the continued recession in the country but because of the popularity of being durable and retaining it original condition for a long time. The reasons why Okrika business is one of the easiest and profitable business people do today are as follows:.
Some recessions have been anticipated by stock market declines. By using this site, you agree to the Terms of Use and Privacy Policy. The United States housing market correction a consequence of the United States housing bubble and subprime mortgage crisis significantly contributed to a recession. By Kimberly Amadeo. You can also start an outdoor catering service for weddings, events and whatnot. This article is about a slowdown in economic activity. Why trust the NBER? Nigeria is full of opportunities and we are not taking advantage of. Conference Board Leading Economic Indicator year-over-year change turns negative before a recession. Below are points 1, 2 and 8 on the list. If you have valuable information that answers any of the questions above, you are in business. It lowered them a half a point each month, resting at 1. When prices fall over time, it has a worse effect than inflation.
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