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The economy of any body or nation can be described in a form as money in the pocket, food on the table, money in the bank (safe). That description seems simple though; however, it covers quite a number of things that defines everyone or country’s economic condition. The areas covered include:
- Money in the pocket – Aggregate spending;
- Food on the table – Aggregate production;
- Money in the bank – Aggregate Income (Reserve).
It has been said that everyone’s today was his or her tomorrow; and everyone’s present was his or her future. The implication of that is very simple; whatever we all do today, will become a reason for regret or joy in the future. For every choice, there is a corresponding consequence, which cannot be prayed or fasted away – except by divine intervention!
The questions we all must ask as we desire a turnaround in our economic condition are: “What was our attitude to those three factors a few years ago?”; “How did we spend what God entrusted into our care a few years ago?”; “How much of what we consumed as a people was produced by us a few years ago?”; “How much do we currently have as national savings?”
It has been discovered that beneath every great discovery is great inquiry; and if we can find answers to those sincere questions or find answer to one or two of the questions; we could begin to find a way for our national economic recovery.
I will pause a bit with those questions today; but will come again and again to deal with more pressing economic issues that must be addressed for a true economic boom to come! God bless Nigeria!