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How to Make Money in the Recession –pt 1

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How to Make Money in the Recession –pt 1

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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

 

ALSO READ:  Recession has been over dramatised by Nigerians- Okorocha
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