This morning I heard a report on the news that the price of crude oil on the international market has dropped to below $50 per barrel. Ofcourse, this is a fall out of the recession that has been on going in the World now for several weeks. What is happening is that the order for crude oil has dropped desperately because many more countries, organisations and people around the world don’t have the extra to pay for crude oil derivatives. (gas, diesel etc.). Crude Oil price due to this situation has hit a 3yr low and could go lower. The fact that OPEC hasn’t sufficiently cut down on production to create scarcity in the market isn’t helping at all.
After listening to this news, I suddenly got apprehensive. The last budget for 2009, before it was reviewed was done based on crude selling at $69 per barrel. If Nigeria plans on that, it simply means we’ll experience loads of deficit as a country. Even if the revised, unapproved budget based on $45 per barrel is implemented, there’s no guarantee that the price of crude wont fall below $45 within the period (2009). What it reveals is that our erstwhile weak economy may be about to take a plunge into darkness. If we are talking about recession in the World, we may decide to term ours Depression. Does that mean I’m a prophet of doom or a seer of gloom?
No. Not necessarily. My Mother used to tell me when I was much younger. “It’s always darkest before the dawn” and so I developed an attidtude towards bleak situations. The worse it gets, the closer the reprieve is. Some people say, “there’s always light at the end of a tunnel”. So what light have I seen at the end of this dark tunnel of recession coming. What dawn is likely to break over this apprehensive and cloudy outcome? – NETWORK MARKETING.
Network Marketing is what i’ve come to dub, the 9th wonder of the world. It is a business that is owned by all for the good of all. Everybody becomes a marketer of the products the business makes and earners from the business are determined by their referral ability. Telling someone to purchase the products rewards the teller, the told and the business altogether. The teller earns referral bonuses, the told gets a good product and an opportunity to earn referral bonuses if he/she decides to tell someone else about the product and the business profits since it’s products are being sold.
I’ve heard someone say before “the economy of Nigeria is tied to Network Marketing”. and I sincerely thought the person made a lot of sense. There are very few countries like Nigeria where networks are taken very seriously. We have networks within networks; networks or barbers, welders, pure water sellers, dwarfs, physically challenged, okada riders, taxi drivers, market sellers, vulcanizers etc. to name but a few. That doesn’t have included religious networks – churches, fellowships, mosques of different denominations and convictions; and even other networks within these networks. What about blood? So many people at the end of the year travel long distances to re-unite with other members of their extended family. These networks can number as many as 100 sometimes. Then, there are clubs and networks of primary schools (different sets), secondary schools, universities, polythecnics and all other institutions.
If building social networks has moved literally from being a talent to being a skill for us, there just might be window (large one) of opportunity for our economy to leverage on in the guise of network marketing. We would find it relatively easier to buy and sell on that model than on any otherI know of. Better still is the fact that as a developing country, it will accelerate our efforts into becoming 1st world because it empowers all that are concerned. Of course, it’s no news that common wealth can only be achieved when wealth is common. That is, when many have access to and can easily harness the opportunities to create wealth. If Network Marketing is then the answer to our economy, what is the question….LOL…..what network marketing products are available. Well, I’ll talk about that later but the 2 that are currently making waves every Nigerian needs to ride on right now are Holidays and Cash and Independent Field Advertisers(IFA). For any info on these, feel free to send a mail to busayoakanro@gmail.com.
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