One of the largest economies in Africa, the Nigerian economy, was forecasted to enter recession last year despite the hit of the pandemic on crude oil prices.
However, the Nigerian economy greatly improved, emerging out of recession with 0.11% in the fourth quarter of the same year as a result of tremendous positive growth on crude oil prices and in agriculture stated on the website of National Bureau of Statistics, FCT Abuja.
With the rebound, the economy is said to improve rapidly as crude oil prices output increase in 2021. This improvement has been predicted to improve the situation of the non-crude oil industry as well.
While the country’s GDP is growing, businesses were still booming for others. Although, it’s not a bed of roses for everyone mostly for those in the informal sector. A lot of businesses have been affected and it seems the number of unemployed youths remain stagnant.
People have to meet their daily needs, so they keep on working round the clock and learning new skills. We spoke to countless marketers who shared with us the state of their business.
Making A Living In The Pandemic: Interview with Blessing Christopher and others
Speaking with Blessing Christopher, a tailor, it was as if there was never a Covid-19 outbreak. For Blessing, even throughout the pandemic, customers have been trooping in to get their dresses made. And the amount she charges remains the same or sometimes higher due to her track record of making beautiful and well designed clothes.
The tailoring industry is huge and competitive. With the hit of the pandemic, many young people and mostly students have been forced to equip themselves with any skill that is in demand to make ends meet.
Other individuals we spoke to, under a baking sun in the streets, expressed how much challenges they are facing with paying various bills due to unemployment and poor returns in business.
Some shoemakers and sellers lamented how it has been difficult to make sales. It is either customers beat the price way down or settle for a footwear with a lesser quality.
However, the government is making efforts to create more employment opportunities to empower youths. The economy is said to increase by 1.5% this year and 2.9% in 2022, with the growth of crude oil prices playing a vital role as well as the condition of global economy.
By Elijah Christopher
Elijah Christopher is a journalist at A New Touch Of Africa, is also a creative writer, a poet, and an IT enthusiast. He contributed to the collaborative poem written in celebration of Edwin Morgan Centenary, the first Glasgow poet laureate and Scottish national poet from the University of Glasgow. He loves meeting people and learning about new places, cultures, events, and lifestyles.
