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We still depend on our foreign exchange earning on oil export. We still import everything. The president does not use anything Nigerian. The same with ministers and governors. So we are back to ground zero.

Johnson says, “Many of us harbor secret frustrations with the holiday season. Most common is the obligation to buy gifts. It looms over us like the sword of Damocles. We dread the inevitable shopping fiasco and despise Black Friday. We hate not knowing what to get, or buying for people who already have more than they need.

Because of the size of Nigeria’s economy at $568 billion GDP, it is easier to earn money than in Ghana that has a GDP of $51bn. Economic activities in Nigeria are ten times higher than in Ghana. Before a Ghanaian can earn 100 cedis equivalent of 8000 Naira, a hardworking Nigerian can earn 80,000 naira. That is economics for you!

To everyone that knows the importance of foreign reserve, there is indeed a serious cause for concern. First it is the buffer reserve we use to balance out payments against international trade. It is the determinant of our national exchange rate or the strength of our national currency. It is also what creditors use as yardstick to give us loan.

But there is huge difference between national debt and family debt. What most people don’t know is that national debt is not like family finances. The difference is that countries have the central bank to manipulate their economy. They have more financial and monetary flexibility to get out of financial troubles.

If you want to break from cycle of poverty and migrate into the rich middle class without stealing, you must break from salary earnings group and seek a money making idea you can work on. Earning salaries can make you comfortable today, but your focus should be on future sustainability.

The Nigerian external reserve has decreased by $3.22 billion. The development stems from the reserve being $45.07 billion as at the end of June, 2019 to $41.85 billion, by the end of September 2019.

Cultivating a habit of saving as a Nigerian is not particularly easy due to some limiting factors. The number of…

Commit to eating out one fewer time each month. Save money without sacrificing your lifestyle by taking small steps to reduce your dining budget. Start off with reducing the amount you eat out by just once per month.

Warren Buffet prioritised the importance of savings over meeting daily wants and expenses in the following words, “do not save what is left after spending, but spend what is left after savings.”

A saving habit is a good thing for everyone involved in it. Many find it difficult to account for how…