Recently the economy was hit with its worst economic crisis in decades. The export value of crude which is the number one resource in the country nose dive to 52 percent, that is #1.27 trillion Naira and most of the hard currency needed to finance import disappeared. Worst is, the country hardly manufacture what it consumes --making her dependent on import commodities.

Some economic experts have gone to predict hard times for the country. Only just last year, business confidence stood at about 8.4 percent, people were hopeful and confident in the economy. Also, the country's gross domestic product GDP growth rate indicated a significant growth of 9.19 percent as at the end of September last year compare to the 2.57 percent recorded in the previous year.

These economic experts have also predicted high inflation rate from 9.6 percent to 10.18 percent just for this year alone. Meanwhile, the almighty dollar continue to fight and dominate the Naira in the foreign exchange market. The present condition of the foreign currency market and the big gap between the parallel market and the inter bank rate is a big worry for everyone despite the desperate efforts f the Central Bank of Nigeria CBN to settle/revive the situation.

From all indication, it have shown that proper plans needs to be in place in order to be able to handle serous economic issues such as crude oil price drop. And failure to do so will result to naira fall which in turn affects other sectors in the country and likely to cause economy recession which we have been experiencing so far.

Economy recession is a period of general economic decline and it is usually accompanied by a drop in the stock market, real estate market and increase in unemployment.
The cause of the decline is clearly seem in the financial report of the oil and gas industries who were unable to merge their total expenditure together with their total revenue which then lead to the laying off of employees, therefore increasing the unemployment rate to an alarming 12.1 percent just for the first quarter of this year.

According to the labour market report released by the National Bureau of Statistics, the number of unemployed Nigerians increased by 518,000 to 5 million just for the first quarter of this year. It is no surprise that the average individual on the street is always angry and bitter especially with the high cost of living today.

The purpose of this article is to tell you how or the ways to survive the present economy crisis.

1. DISCOVER YOUR TALENT
Take your time to figure out that which you know you are good at but have not given it your attention before now. Find that inner skill which you possess, that is what will drive your interest. Take your time and discover the entrepreneur in you and utilise it to your advantage. For instance, you like the internet and are always online, why not consider blogging. You see, blogging is another perfect way to stay busy while still doing what you love, you can blog about anything you like as long as you have the knowledge and interest in it. And as you continue to blog about interesting stuff and there is enough traffic to your site -- you never know, any corporate firm might be interested in placing adverts on your site and the cash will start coming.
Or you enjoy teaching and you are good with kids, why not take up a teaching position in any of the schools close or around your environment --at least that will save you the cost of transportation.
CONTINUE HERE==>http://westentrepreneur.com/489/--unemployed--how-to-survive

So nice !


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