Tinubu’s Administration: Easy Ways to Survive and Make Money in Nigeria

Introduction

Last night I was just sitting in my recliner around 11 p.m. evaluating the outcome of the day. One of the thoughts that popped up was some of the unanswered questions of the young people around me. This is as regards their faith in the new government here in Nigeria, and how the young Nigerians will survive, and prosper (make a lot of money) in this President Bola Ahmed Tinubu’s lead administration.

As they asked will Nigeria and Nigerians ever experience prosperity? The truth is this “every challenge or trouble you might see, someone is benefitting from it”

Therefore, instead of being the one complaining, why not be the one benefitting from the challenge?

For your information most companies rose during depressions and economic meltdowns for the past few days, I have been thinking of how this new administration of President Bola Ahmed Tinubu will favor me. I am equally aware of how to scale my personal businesses through this anticipated, unstable, and tough regime.

If you are like me and you are desperate to build a good life in Nigeria in a time like this, you only have two options, which are;

Ways to Survive in Nigeria

1. JAPA SYNDROME
2. Learning the magic of building and scaling  your business in a troubling economy like Nigeria

JAPA SYNDROME (Those traveling Abroad)

The JAPA SYNDROME has remained the most popular opinion, especially for those who have little faith in the growth of Africa especially in Nigeria but this is not my interest today because this is the most irresponsible thing young Africans especially Nigerians engage in.

Today I will share the secret of how to thrive in a troubled economy in Nigeria.

Road Map to Scaling Your Ventures and Making Lots of Profit in Tinubu Administration

Some of the highlight of the early hardship that surfaced immediately after the handover is as follows;

1. Removal of fuel subsidy
2. Reduction of NYSC allowance
3. Stopping previous government poverty alleviation programs like school feeding programs and Npower programs
4. Increase in taxation (both direct and indirect)
5. Increase in the exchange rate

Highlight the impact of the above-stated policies

1. Removal of fuel subsidy:

This policy is one of the most dreaded policies especially in the past 24 years of democratic rule in

Nigeria.

The inauguration of the Tinubu lead administration was the most striking highlight of his first speech as the president. Whether he did it consciously or ignorantly, the impact of this had an immediate impact on price of PMS increased with immediate effect and this immediately affected the cost of transportation and gradually spread across other items and services as the cost of PMS drives businesses in the nation because it is the fulcrum of all ventures. Angola made a similar policy but cautioned the effect with some concession for bus drivers but Nigeria did nothing.

2. Reduction of NYSC allowance:

It was equally rumored that the incoming president intends to reduce the allowance of NYSC members from 33,000 to 25,000.

This naturally reduces the purchasing power of corps members and that of the nation at large.

3. Stopping the privileges of the past government in poverty alleviation

Without any alternative, the new government has stopped every kind of poverty alleviation program by the past government without any alternative.

Naturally, this is a serious campaign for poverty.

4. Increased Taxation

The new government hopes to drive its activity through taxation and this will further put pressure on the income of the masses. This comes either directly or indirectly. The worst hit is importers.

5. Increase in the exchange rate

Basic economics should predict that the exchange rate of naira to foreign currency should decline in favor of the naira but the reverse is the case. This is due to some irregularities in the foreign exchange market and this is policy dependent.

The summary of these above-listed points is increased or very high inflation with limited purchasing power. This means that in the short run, there will be hardship, recession, and depression in Nigeria if no changes occur. In the long run, there are chances of a better economy if resources are channeled properly.

What to Venture into in this Economy  

1. Oil and Gas
2. Tech-related Ventures
3. Agriculture and Agro-related Business
4. Real Estate
5. Power Generation Sector

 

1. Oil and Gas

This sector has already started grossing immediately and there are chances that modular refineries will soon be licensed and that the monopoly-controlled sector will soon be highly competitive with an unlimited market.

2. Tech-Related Venture

This niche requires little capital and assets to start up and due to innovation and tech survey generation, this niche will keep thriving. Some of the areas it covers include programming, e-commerce, robotics, animations, blogging, affiliate marketing, graphics design, etc.

3. Agriculture

This is the main sector this government has resounded its interest in. In fact, people use the likes of “Agbado (corn)” to make a jest at the administration, though we don’t know how they intend to achieve this, I believe that it will grant lots of privileges to top people in this sector this will come in form of grants, soft loans and other forms of assistance.

Note: This sector only rewards those on a large scale or reasonably medium scale so if you must be here, you must SCALE UP.

4. Real Estate

This sector has unlimited privileges due to the searchable needs of housing in the nation it is a core priority to every Nigerian and its primary market is our “Team Japa” who earn in hard currency. The easiest way to enter this sector is by being a middleman “agent”

5. Power Generation Sector

The cost of PMS affects hydro electricity which will limit its supply and equally increase its cost. The opportunity here is the alternative to hydroelectricity which is solar energy and inverters. You can benefit by joining any part of the production and supply chain which includes solar production, solar institution, inverter design and production, inverter supply and installation.

Conclusion

This Tinubu lead administration is going to be a challenging one in the short run or even in the long run. Still, through my recommendation and suggestions in this post, it could be your most rewarding and life-changing economy.

Note: There could be other sectors that will experience growth, feel free to share them in the comment section along with your conviction. Comments and questions are equally entertained if you have something you want me to talk about; you can equally drop it in the comment sections below.

Enjoy a great season of your life.