Nigeria Out Of Recession: Why You Shouldn’t Celebrate Just Yet

Have you heard the good news?

nigeria out of recession

Maybe we shouldn’t be celebrating just yet. Image source:

Yes, just like the headline says:


Nigeria is officially out of recession!

[Yipee! *Does the skelewu*]


Coursera business 728x90

I was at work, when it came up on the News.

The reporter said something along the lines of “We are happy to report that Nigeria is officially out of the recession.”

Okay, I might be paraphrasing/exaggerating here, but he sounded happy.

And I was… till I heard that Nigeria’s GDP increased by 0.55% because of an increase in the petroleum and oil sector

I was like… oil again?

Normally, I don’t like to speak on things I’m not an expert (or aspiring expert) on, but I just had to say my piece on this one.

Who Made Petrol Hero Over Us?

From as far back as I can remember, Nigeria has been all about oil, gas, Petrol and the rest of their family.

Students would go to school and uni in order to graduate and work in oil companies.

Because that’s where the money is… scratch that, was.

Nigeria even joined a crew of Oil and Petroleum Exporting Countries and was chilling.

The economy was fine. Business was bubbling, those that could steal stole, etcetera shmetcetera.

And we saw that it was good.

Nothing could go wrong.

But then it did…

In the first quarter of 2016, oil prices fell like overripe mango.

Everybody was freaking out. T.B. Joshua had not predicted this.

Patience Jonathan never “hexperred-it”.

Then we all remembered what the green in the Nigerian flag stood for – fertile lands and Agriculture.

Check this out!  What Types of Online Freelancing Jobs Should You Do?

We finally realized there were other sectors besides Oil, Gas and the rest of their family.

The government started passing grants for agriculture around like flyers for church convention.

They placed restrictions on importation and started looking for local entrepreneurs, people with ideas for businesses, people with crafts and locally made products they could export to bring in foreign exchange.

The struggle was real.

21 months later…

Nigeria lifted her head up and began to climb up out of the recession.

I should be happy. Things are going to get better now.

Or are they really?

Petrol, Oil and Gas once again threw Nigeria a lifeline, and we took it like any smart country would.

Hire Freelance Writers Now from

But I think we can do better than just that.

It was our sole reliance on the oil sector that got us in the recession in the first place.

Now we want to celebrate them coming to our rescue?

I don’t know about you but I don’t think it’s time to celebrate.

I think it’s time to double down on our efforts.

Let’s take the lessons this recession has taught us and put it to good use.

If you have an idea for a business that would take the country to another level, now is the time to get it done.

It’s time to stop buying Gucci and Prada and time to start buying local brands like The Oga Label and Emsley.

It’s time to promote our products, buy our own products and even export our products en masse.

It’s time for you and I and the rest of the 170 million people in this country to put our brains and hands to work.

Check this out!  The Sharp Guy Ultimate Guide To Blogging For Dummies

Nigeria can and should be better than having only one “Hero” economic sector.

So don’t celebrate just yet. Shout for joy and get back on your grind.

No worry, we go groove later.

What are your thoughts?

Do you agree? Or do you think Tomi is just being pessimistic and doesn’t know what he’s saying?

Let us know so we can flog him.


Keeping it 500,

Tomi Joshua


P.S. My opinion is my opinion. If you no like am, I dey house comman beat me.

Author: Tomi Joshua

Tomi is a case.

A bit brash, at first blush. But ultimately, he means well. There are very few things he won’t say or do in the presence of tolerant company (especially when it could make for a good story later).

Tomi is a Doctor, writer, certified inbound marketer (Shout Out to HubSpot), Digital Hustler, and online business addict.

He is most likely to be found dancing to the beat of his own drum, even in accapella.

Leave a Reply

Your email address will not be published. Required fields are marked *