[6:48 PM, 6/27/2020] Korede: Good morning Covenant Friends and Partners and we do believe you had a wonderful week. Again, writing our weekly reflections and meditations from OHAJI/EGBEMA the food basket of the state and the home of OIL AND GAS. The PEACE that radiates makes the atmosphere conducive for ease business environment. The bright sun this morning promises a wonderful day. Everything is still in the divine presence of God in Umuokanne as we write. It is of great and appreciable privilege to read some of your reactions during the week. Each time we read your reactions and comments to our weekly reflections and meditations it gives us hope to continue. Some of us who are joining us recently and based their comments on those recent write up need to actually search for early writing to enable them understand what we are doing and what we want to achieve. Most of the things we have written in the past three MONTHS have happened and are still happening. Read your daily newspapers and reviews you will honestly understand the state of our economy and the impact of Covid-19 pandemic on world economic health. In any case we will try to proffer solution or rather answers to your questions to the best of our knowledge. But be reminded that, SALVATION IS FOUND IN NO ONE ELSE, FOR THERE IS NO OTHER NAME UNDER HEAVEN GIVEN TO MEN BY WHICH WE MUST BE SAVED (Acts 4:12). Many people may react negatively to the fact that there is no other name than that of Jesus to call on for salvation, yet this is not something the church decided. If God designated Jesus to be Saviour of the world there is absolutely nothing we can do about it and no one else can be his equal. Christians are to be open-minded on many issues, but not on how we are saved from sin. No other religious teacher could die for our sins;no other religious teacher came to earth as God’s only Son; no other religious teacher rose from the dead and no other religious teacher was incarnate. Our collective continuous focus should be on JESUS,whom God offered as the way to have eternal relationship with Himself. Indeed and honestly there is no other name or way. WHAT ARE YOU STILL DOING? WHO ARE YOU STILL WAITING FOR ? If you are observant you will know that the world is gradually summarising, hence everyone should be doing rehearsal and stock taking. There’s no more time to waste or gallivanting about. Due to concerns raised by some of us, our reflections and meditations this week will look at those areas of concern with the theme: THE NEW NORMAL AND ECONOMIC CONSEQUENCES BOTH THE WEALTHY AND THE POOR. The new normal living with and defeating Covid-19 pandemic is not an option or a choice rather it’s a compulsory fight for everyone both the educated and uneducated, the wealthy and the very poor, the political leaders and the very led, the government and the governed, the teacher and the student, the public sector and private sector, the church leaders and church member, the crime peddlers and crime fighters, the Boss and subordinates,the Bourgeois and Proletariat etc. Hence ALL HANDS must deliberately be on the deck. The new normal does not and will not respect status without hardwork.
Just few reviews from the newspapers and alternate lines from other sources. Late Stephen keshi says ” People don’t have to believe in you for you to succeed. Just work hard, when you succeed, they will believe” Honestly we confirm this quote. Don’t make anyone your yardstick of success but keep trying every and several opportunity and sooner than later you will be celebrated without remembering your background. From the dailies, Trump has stopped access to green cards, work based visa till the end of 2020; The NCAA boss stated that the non-operation of commercial flights had dragged down the authority’s revenue by 90 to 95 percent; 76 firms jostle for 57 marginal oil fields;Trump planned stopping $1.5 billion aid to Nigeria-Ex-NSA; seven Nigerian Journalists died within seven days meaning intolerant nature of our nation; EU,UN deliver $22 million essential medical supplies to Nigeria; FG commits $58 million to curb pandemic;Government releases #13.6 billion for health workers hazard allowance, life insurance and it is becoming a culture in our Nigeria that before you get what is due you, you must go on strike or attempt revolution to generate attention; High import duty slowing 2021 metering target ,DISCOs cry out, maybe they should go on strike in order to receive attention; Anxiety as debt service burden stokes bankruptcy;Global gas glut leaves Nigeria’s LNG unsold, threaten #80 billion dividend;Manufacturers suffer drop in profits as Covid-19 underpins bleak outlook; Budget officer says that Nigeria spent 99.2% of Q1 on debt services ; Reps probe utilisation of #25 billion appropriation of Refugees commission; ICPC begins constituency projects tracking; PWC says that Nigeria small businesses face #617.3 billion funding gaps annually; Nigeria’s eternal reserves down by #261 million; N- power ready to absorb 400,000 applications for third batch ,wonderful creativity provided is not one of those political gimmicks because election is around the corner; SDGs say that there should be strict laws to protect earth meet 2030 sorry if the Lord refuses to protect the earth He created no human law, rules or policies can; Blood in the land and pain of denial; Investors lose #38 billion on equities’ sluggish performance; Banks caution customers, say frauds on the rise;Fighting against ethnic supremacy in Nigeria; Oil price crash sends NSE ASI down o.29%; FG seeks to criminalise non-wearing of face masks but still debating on the proper punishment for rapists and criminals convicted of enormous corruption are released with ease, what a nation; CBN to distribute #432 billion non interest loans to farmers and our plea let it get to real farmers, not political farmers; Reps to probe water resources ministry over #343 million expenditures without approval vouchers; FEC okays #2.3 Trillion economic stimulus plan for Nigeria;CBN says selfish Nigerians working against us; NNPC posts #9.53 billion operational loss for March; FG unbundles NIPOST, creates three subsidiaries; President Buhari urges caution on ECOWAS common currency and FG increases TETFUND’s research grant to #7.5 billion; the world is running out of oxygen supplies, WHO warns.
Few things for our consideration and happenings to guide our decisions this week:
(1) WHO director general Dr. Tedros Ghebreyesus said global cases are rising by about one million cases per week. This,he said are increasing oxygen demand to 88,000 large cylinders per day or 620,000 cubic metres of oxygen,
(2) According to John Hopkins data, global cases stands at 9.4 million as at Thursday morning with 4.7 million recoveries and 482,000 deaths,
(3) WHO says it needs over $30 billion to develop Covid-19 tests, treatments, vaccines,
(4)Other sources income that could replace oil monopoly in Nigeria are obvious. Nigeria is bouyantly blessed with abundant of other natural resources but oil sightedness monopoly has been our bane. Nigeria has Gold in great quantity that if it’s properly explored and financed by the international standard and devoid of corruption would help in the recovery of economy faster. Gold can be found in Niger, Ebony, Edo states and FCT. Again Columbite and it is deposited in great quantity in Kano, Bauchi, Kogi, Kaduna states etc. This is a black mineral group and it is an ore of niobium which has a sub metallic lister and a density that is high and it’s also a niobate of Iron and manganese. It could be used to produce a welder able speed steel that would enhance the transmission of radio waves and would be able to detect heat, and if properly managed by trusted and qualified professionals without lopsided appointments, it has the capacity to enhance the speedy recovery of our economy in no distance time. Coal is another one and also one of the oldest commercial fuel that supported the economy of Nigeria. It is greater in quantity in places like Umuahia, Eungu, Oba,Asaba, Benue etc.
What to do in the circumstance as we look up to God to help us overcome the onslaught of Covid-19 pandemic and its co- travelers.
(1)The church of God here on earth has not relied on any other sources of generating funds primarily, except from church members in the form of tithes, offerings, Thanksgiving, the other sources which is considered secondary is through pledges, donations and may be seed droplets. At the tertiary level, another source of financial inflows is through recent entrepreneurial ventures of the church which are funded from what is realized from the primary and secondary sources. Again, if the theory of multipliers effect is anything to go by, church members who directly or indirectly make available the funds of the church are within the described economic milieu which means that a drop in their earnings will in turn, results in drop in the earning capacity of the church. For churches with investment, the market response to products and services is undoubtedly low due to low per capita income and low purchasing power of products and services customers leading to a shrink in the market size and business returns. Hence churches should not be insensitive to manage every available resources till there is visible evidence of full opening of economy,
(2) Learn to create more assets and reduce the liabilities at hand. Assets are grouped into two major assets namely: Tangible assets and intangible assets. Tangible assets consist of different sub classes, which include current assets and fixed assets. Current assets contain inventory, while fixed assets contain building and equipment. Intangible assets are those non physical resources and rights that have a value to the firm because of advantages they accrue to the firm in marketplace. It includes but not limited to goodwill, copyrights, trademarks, patents, computer programs, financial assets, accounts receivables, bonds and stocks.
(3) Review your workforce and possibly readjust or reprioritise your available skills. Instead of employing new hirers do retrain and retool your available staff. If you must employ now let it be an inevitable skill that you cannot manage any of your existing staff to handle,
(4) All over the world people have more than one way of revenue generation and many people of understanding do not depend on one source of inflow of money. They put more attention in creating more money through asset building. Some areas of investment that are still viable and can pay back in long term than short term include stocks: Growth stock, Dividend, New issues and Defensive stock. Bonds are still showing quite appreciable positive signs of growth. Bonds include: treasury bonds, high yielding bonds, mortgage backed bonds, foreign bonds and municipal bonds. Real estate has not depreciated in its efficacy and potency of doubling your investment annually. Finally and above all starting your own business is very apt and compulsory. You can start with very little amount of money say #20,000 or #25,000 only.
(5) Don’t abandon your business. Met someone few days ago and asked him to supply us chickens. His reply surprised me. He said he had no stock and that he has finished his capital during this Covid-19 pandemic and that he has nothing to fall back on. This is a man we know that should have over three to four hundred birds but he has finished the birds waiting when Covid-19 pandemic will be over for him to borrow money to start again. We told him that he is in for a long wait. Please Covid-19 pandemic is not going away anytime soon, hence continue your business with every fibre in your disposition. A lot people are waiting for the end of Covid-19 to start. Please stop waiting because you will be waiting indefinite.
(6) FG has been threatening second lockdown. Please pray that government does not make their threats happen. Honestly we speak under God with what is happening now with our economy and borrowing synonyms with Nigeria this nation and indeed most of the organisations including the church will not survive it except God’s intervention.
Greetings of blessings to all of you and we think sufficient unto the day.
Let us pray together:
Heavenly father and father of our Lord JESUS CHRIST we thank you for your love towards us all. We bow down in humility and adoration to you alone.
There are serious threats to our existence and well being and our eyes are on you to deliver us from the spirit of wickedness and blood thirsty demons.
We pray that you quieted the proud mouths of our enemies and shut them up so that they will close their mouths in utter shame.
Almighty and most merciful Father, grant us the grace of your boldness and courage to stand against injustice, oppression, corruption and maladministration.
We make all these requests through JESUS CHRIST our Lord and saviour AMEN. Keep staying safe and bold. We will make it.
His BONDSERVANT Chidi.