Harsh economy: Publisher tasks Nigerians on saving culture

As a panacea to the harsh economy hitting Nigerians hard, the Managing Editor/CEO, Premium Eagle Media Ltd, publishers of The Eagle Online newspaper, Dotun Oladipo, has urged Nigerians to embrace and sustain saving culture.

According to the Publisher, it is one of the strategic and shrewd approaches to making a headway in the country’s distressed economy.

Oladipo, who gave the the advice at the 2022 Annual General Meeting of a non-governmental organisation, Ikhwan Mutual Forum, in Ojokoro, Lagos, said in this period of economy downturn, cultivating saving culture, no matter how small, would impact positively on a family in the long run.

Speaking further on the theme; “Surviving the challenges of Family Upkeep, Harsh Economy and Rising Cost of Living”, Oladipo noted that for every family to survive and thrive in the harsh economy, serious attention must always be paid to daily costs with a view to whittling down expenses and maximise the benefits of every spending.

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The media entrepreneur further noted that one key aspect many families underrate is bulk purchase, adding that any household item purchased in bulk, when the resources are available, would better serve the family in the nearest future as well as save cost.

The media practitioner asserted that individuals must be realistic and disciplined in their finances as he alluded that nobody can be bigger than his source of income.

Moving forward, Oladipo reasoned that to forge ahead in this hard time, Nigerians should be creative, work out better alternatives, avoid imitating others blindly as well as not being wasteful.

Also discussing the theme, an Assistant Director in the Lagos State Ministry of Information and Strategy, Alhaji Abdul Razzak Misbahudeen, said the state of the economy in the country called for families to be prudent in spending, focus on needs instead of wants, as well as prepare the family’s budget.

He advised members of the Ikhwan Mutual Forum to device collective efforts in order to ensure that individuals can conveniently cater for their needs.

Working on alternative sources of income that can take care of heavy expenses, he advised, was also a positive approach for survival in the troubled economy.