The Quick Money Syndrome- A Root of Poverty in Nigeria.

The Quick Money Syndrome- A Root of Poverty in Nigeria.

The "quick money" mindset has become a pervasive issue in Nigeria, contributing significantly to the country's poverty challenges. 

This syndrome is evident in the nation's affinity for get-rich-quick schemes, such as Ponzi schemes, which recently drained over 1 trillion naira from the economy. #CBEX 

These schemes thrive on people's desire for instant wealth, often with little effort or investment.

The consequences of this mindset are far-reaching. Cybercrime (Yahoo,Yahoo) has become a lucrative industry, preying on the vulnerable and unsuspecting. 

The emphasis on "prayers for wealth and prosperity" without corresponding hard work and diligence has also contributed to this problem.

 The Bible's advice to "pray and work" seems to have fallen on deaf ears.

Furthermore, the "quick money" syndrome has led to a lack of patience and dedication in entrepreneurship.

 Many Nigerians prefer immediate gains to the long-term process of building a business or investing in agriculture. 

This is reflected in the high levels of food inflation and hunger, as people are reluctant to engage in farming or other productive activities that require time and effort.

The syndrome also affects the job market, with many graduates shunning marketing and other essential roles that drive economic growth.

 Instead, some young people, especially ladies, are lured into "sex for money" or other exploitative relationships with "rich pockets."

The 1 trillion naira lost to CBEX alone could have established 15 industrial hubs, generating over 50,000 job opportunities.

 It's time for Nigerians to rethink their approach to wealth creation. 

By embracing entrepreneurship, learning skills, and offering talents, people can build sustainable livelihoods.

As I always say, "To make income, be an entrepreneur, get a job, learn a skill, offer your talents, be a trader, offer knowledge, go to school, etc." It's time to break free from the "quick money" syndrome and build a brighter future for Nigeria.

Olubunmi Oluwadare. Author.

I SEE MONEY IN AFRICA.

www.uni-preneur.com

#Entrepreneurship #Ponzi #nigeria