It is no longer news to any informed Nigerian that Nigeria’s economy pre COVID-19 left a lot to be desired. For a country that self proclaims to be Africa’s biggest economy, the yawning infrastructure gaps and inadequacies in numerous sectors belie these claims.
With the COVID-19 pandemic grinding economies across the world to a halt, the chances of a prolonged economic recession looms large for most economies.
Nigeria’s dependence on oil as its major forex poses uncertainties resulting from the downward price fluctuation of crude oil in recent times. With continued downward fluctuation, Government expenditure on infrastructure development will take major hits.
Amidst the Coronvirus pandemic, Government, Corporate organization and consumer spending behaviour leaned towards efforts to fighting the pandemic. The Federal Government and Large corporations has allocated huge resources into healthcare to help fight the pandemic. Small businesses and consumers have been left reeling from the extended lockdown.
Post COVID-19, the economic landscape for Nigeria looks grim to say the least. Without about 31 million registered small businesses in Nigeria, the ‘supposed’ backbone of Nigeria’s economy will have to plod on with no stimulus package offered to them by the Federal Government to enable them maintain operations. Many businesses in this category will certainly become victims of the global pandemic and shut down their little operations.
For medium and large companies, budget cuts in advertising and promotions will become most likely with massively reduced consumer spending power.
Government spending will not change significantly, but will likely see a reduction in spending in some areas of the economy. Foreign lending options will certainly be slim as most countries have challenges as well.
Post COVID-19 crisis will affect consumers the most. With many living on daily wages, the recession following the pandemic will drive consumer spending power lower. This situation will possibly manifest for an elongated period.
Strategic actions Post COVID-19 would be for Government and large corporations to focus intently on stimulating the SME sector through investment and capacity development. Done effectively, these investments will pay off huge dividends and help propel Nigeria’s economy to a better situation than it currently finds itself in.
Three Crucial Tips For Effective Self-Promotion
Speaking highly of yourself to others might be uncomfortable, but it could benefit you and your career or business. Positive self-appraisal is a major reason many workers advance to higher positions, and it’s a technique that every worker or entrepreneur should practice.
“Self-promotion is a necessary tool to help professionals elevate into the next stage of their careers, especially if their peers do not properly recognize them,” said Vanessa Fioravante-Cuomo, principal and co-founder of ANDER & Co.
However, there’s a fine line between self-promoting and bragging. You can share your success and attributions without coming off as a boaster. Here are three tips to help you master the art of self-promotion.
What is self-promotion?
Self-promotion is the use of tools such as social media, marketing, and branding to make your services, expertise, interests, skills, strengths, and talents readily known to potential new clients. Self-promotion has existed for as long as businesses have – even the very first workers in the Industrial Revolution had to promote themselves to find work – and has been all around you for your entire life, even if you haven’t noticed it.
Flyers that you encounter at libraries, grocery stores, and community centers are self-promotion. Ads that people or small businesses take out in local newspapers are self-promotion. Most prominently, people posting about their career, job, or services on the internet – whether on social media or classified ads sites such as Craigslist and Fiverr – is self-promotion. Even an ordinary resume could be considered a self-promotion item.
Why is self-promotion important?
In the modern gig economy, more people are becoming entrepreneurs or freelancers. Self-promotion is vital to stand out against your plentiful competition. Potential clients could easily choose to hire someone other than you, read more…
Top 3 Social Trading Platforms For Copy Trading
Let’s talk about social trading networks, shall we?
Imagine earning from Forex or a trade without having to dedicate most of your time and resources. Imagine the ease of learning how each strategy works when it comes to trading. This is what social trading allows you to do and far more. What is social trading? You might ask, don’t worry, I will tell you.
Social trading is a form of investment that permits investors to watch the trading behaviors of both their peers and experts within the trading world. It allows you to follow their investment strategies using either copy trading or mirror trading.
This method of trading makes it easy for beginners to link their trading accounts to those of expert traders and imitate their trades automatically. It was even described by the World Economic Forum as a low, sophisticated alternative to traditional wealth managers. Little or no knowledge of the financial markets is needed.
Lately, social trading is being talked about as one of the best things to have happened to the online trading community. There are numerous Social trading platforms out there, it keeps increasing. However, here is our Top Three Social Trading Platforms with some of their main features;
Founded and run by Yoni Assia, eToro is a great platform for starting traders. It provides a huge variety of investments and also a community of traders where users have the opportunity of interacting with each other like every other social media platform. With their News Feeds feature, users have the opportunity to monitor and manually copy any trader of their choice.
This platform has an interesting feature called the Copy Trading where users can automatically copy traders in bits thereby managing both exposures and risks. What I love the most about this platform is the free and unlimited demo account made available to everyone.
2. Naga Trader
They boast of having some of the best social trading features that include social networking, social trading, copy trading, and innovative investment services such as the NAGA portfolios.
Social networking involves, starting a unique project that traders from all over the world can join hands to work on. Copy-trading allows Naga traders to reproduce the success of elite traders and make it their trades. These two practices have gained popularity within the global markets so much that Naga Traders were nicknamed – the “Tinder Of Trading”. This platform also gives you access to their social trading network where you meet, interact, and share with fellow NAGA traders
Founded in 2017, ZuluTrade is a Social trading system that works with dozens of brokers. It is best for hosting the most advanced social trading features. This platform works by gathering many elite investor trading data and records their trading strategies. You can analyze this in a minute and replicate their performance by customizing the risk and investment management. You can also have access to a free demo account, where would practically learn how to start and clarify your ideas.