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CONCLUSION
What life will look like for the average Nigerian?
2017 is a year that will start off tough
for the Nigerian state and we have not
seen signs that the current government
understands this, or has taken cognisance
of this in their planning. It appears to us
that the government has pinned all of its
hopes on oil prices rising. While we predict
that this will happen in a short window and
provide some respite, this will be short-lived
especially considering the fundamental crisis
of confidence the government’s actions and
policies have created in 2016. This, coupled
with the instability that the security issues
will create makes the outlook for the Nigerian
state a gloomy one.
2017 is a year in which the average Nigerian
will be forced to cut down. The key mantra
will be to conserve cash, and cut down on
excess spending as things get tighter. Where
payments can be structured so that they
can be made in instalments over time, most
will vigorously pursue this option in order to
manage cash flow. Opportunities will present
themselves to pick up assets for below
market prices as people try to raise money,
and it is those who have conserved their cash
that will be in a position to take advantage of
such opportunities.
Key investments in enhancing job skills and
alternate skills will be important as employees
seek to improve their productivity and raise
the chances of retaining their jobs.
Safety and a security consciousness will
become the watchword as crimes such
as kidnapping and armed robbery will rise
as people become more desperate to make
ends meet.
The urbanization trend will continue, driven
by security concerns as well as economic
pressures, and delivering goods or services to
the growing urban population who typically
move to the fringes of the urban centres
initially will provide such opportunities.
The average Nigerian will also find healthcare
more challenging and will need to be wary
of fake drugs. Maintaining a healthy and fit
lifestyle to avoid illness will be an advantage.
It will be important to attempt to create, and
grow, additional streams of income as we
predict that there will be more job losses.
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