COVID-19 Effects/Updates by The Rt. Rev. Chidi Oparaojiaku, Ph.D( Economics)

Good afternoon covenant friends and Partners, we bring you update meditations from last week up till now. It will interest you to know that we are not in the habit of bringing frightening information to us rather great truths. There’s a shaking going on right now and it’s going to affect everyone, ‘ Tell Zerubbabel governor of Judah that I will shake the heavens and the earth. I will overturn royal thrones and shatter the power of the foreign kingdoms. I will overthrow chariots and their drivers; horses and their riders will fall, each by the sword of his brother “(Haggai 2:21-22). Wished we have all the time to interpret this verses but suffice to say that this prophecy was given to the prophet Haggai for God’s people then and it’s also apt especially now. We are aware you have heard that our national only authentic dependence of sustenance which is oil is at its lowest ebb for the first time, at the cost of $11 or a little above per barrel and to produce a barrel is $30. Summarily we are far selling at below production cost. In the USA the cost of one barrel is at negative meaning they are begging people to come take the OIL almost free. In other nations who are major stakeholders in oil market the likes of Iran, Saudi Arabia etc. the face is not far from Nigeria and USA. As a result of this most of our goods are still on the sea without demand, even at this price. We don’t have proper storage space system hence we can’t store like USA or any other country. We are also giving out palliatives which is commended but from unbudgeted portfolio meaning some budget headings will have to go, again our budget approval was almost 75% based on proceeds from oil. We needed to paint this picture to enable us appreciate where we are currently and where we are going after now and what is expected of us. Before hand we want to apologise for not expanding on a lot of things we should have explained, that is because of time,space and not making the write up unnecessarily lengthen.
WHY THIS WRITE UP?
Honestly, good question and the following is the brief answer we can offer for now:
* After the covid-19 there will be serious hunger and starvation that its impact will almost equal the pandemic consequences.
* There will be fewer cash chasing surplus supplies which will result to drop in prices
* There will be cut in take home as salary if it’s paid at all.
* Allocation states share will naturally reduce to the lowest level thereby affecting the public expenditure and once it affects public expenditure most of the people who eat through Government contracts and PAs, SAs etc will be reduced and local taxes will increase to boost internally generated revenue (IGR).
* Robbery will increase because security vote will not able to cushion the cost of insecurity needs.
* The church offerings will take a downward direction which will affect both spiritual and physical wellbeing of church members. It will affect also church attendance and membership commitments.
* There will be school changes from high paid schools to medium or low paid schools. This will lead to cutting down of school fees at various levels. There will be a boost of public schools numerical strength etc.
* Middle men will automatically vanish in business circles and the reason is obvious.
*Projects shall be abandoned and the minimal resources rechannel to most important areas.
* Building material dealers will suffer a momentary set back and there may be a crash of price.
*Nigeria will look for a way to increase her domestic income through internally generated income which will result increase pump price, income tax, high taxation on local goods and protection of infant industries will be reduced hence the end consumer pays more than necessary. Import and export duties will be at par.
* The disparity in salaries and standard of living gap will close by about 12%.
WHAT TO DO
* Pray,prepare, plan plus curtail unnecessary showmanship and remember first and foremost that you are a mere human being who doesn’t have any control over his or her life.
* Reduce your consumption level and manage your intake .
* Learn some small small skills so that you don’t pay for everything you eat or use.
* Learn to manage your finances and invest wisely especially in inelastic goods. It doesn’t require huge amount of money.
* Adjust your appetite both in food, fashion and desires.
* Become multifaceted personality, that is all rounded in the areas of your competence.
* Change your child’s school if you must borrow to pay school fees. There are many wonderful schools with reduced school fees.
* Avoid fashionable clothes and inferior materials for the money spent on them doesn’t worth its value after all.
* Increase your agricultural desires by planning beyond your immediate use.
* Learn to share the Love of God with your environment and neighorhood by so doing you built security around you and all yours without knowing.
* Prepare because there will be transfer of wealth.
* Improve your faithfulness in preaching and teaching the word of God to all creatures because people’s hope are already in fearful mood. Explore the opportunity of bringing hope to the hopeless world.
* Remember you must pray now as never before.
* Etc.
We ask the Lord Almighty to guide and guard you throughout this pandemic, that at the end of it you will never find any of your own missing, they shall be intact and healthy in the MIGHTY name of JESUS CHRIST AMEN. We put a divine boundary between you and this coronavirus pandemic in the MIGHTY name of JESUS CHRIST AMEN. The Lord shall watch your going out and coming in throughout this season in the MIGHTY name of JESUS CHRIST AMEN. Joy cometh.
*Stay away and safe.