CHURCH UNUSUAL: As Christians This Recession Should Not Be Seen As Trouble But as An Opportunity

Topic: Christian Family Strategies In an Era of Economic Downturn
Speakers: Mr. Bright Chimezie and Mrs. Victoria Onwubiko

How to Survive In Era of Recession

It was indeed an unusual service at Victory Sanctuary S.D.A Church, Lekki, Lagos, on Wednesday, 23rd of November, 2016. Two experts in the financial field, Mr Bright Chimezie, an insurance profssional, and Mrs. Victoria Onwubiko, a marketing manager at Wakanow.com, took the church audience on a journey of financial analysis and gave insights on the best possible ways by which Christians can survive their finances, especially in this current time of economic recession.

Below are excerpts from the discussions...

Question (Mr Bright): How can Christian families manage this recession, can we come out of it?

How do you describe economic recession, and what are its evidences?

Answer (Mrs Onwubiko): The things that point out to a period of economic downturn are; inflation, inflation has currently increased to 17.1 in Nigeria, and this inflation has been consistent since about nine months ago.  The economy is compressing and not growing. Scarcity is an another evidence, there is also massive unemployment, and value of commodities also reduces.

Question (Mr. Bright): What composes a Christian family?

Answer (Mrs. Onwubiko): A Christian family follows the precepts of God, it raises godly children, and keeps the word of God. It is a unit that is united in Christ.

Question (Mr Bright): How do you live righteously at the time of recession, marrying the two together?

Speakers: L-R, Mrs. Onwubiko and Mr. Chimezie during the programme

Answer (Mrs. Onwubiko): Firstly, as Christians, we are not living in the world's economy, but the kingdom's economy. We shouldn't worry because we are not of the world. Though it is a bit stressful on us as Christians too. As Christians, these things should not be seen as troubles but as opportunities.

Question (Mr. Bright): At what stage will a Christian family feel the impact of the recession...with the prices of things gone up?

Answer (Mrs. Onwubiko): That's the difference between a Christian family and the others. How a Christian family would react to it is different from how a non-christian family would react. A Christian family would discuss and plan. It is how we manage it (the situation) that matters. I believe a Christian family will strive in terms of well-being.
 
Question (Mr. Bright): Please stress more on the things that a family is supposed to do for themselves apart from the salary jobs.

Answer (Mrs. Onwubiko): To make more income, these seven streams (in business) is something a Christian family is supposed to do naturally, and not only during recession. It is about being industrious. To help yourself, agriculture is also an area one can go into. Me as an example, I sell bed-sheets. For those who don't do '9 to 5' jobs, there are things you can sell, online marketing. There are small businesses one can do in Nigeria. You can also research on them, you can partner with someone if you cannot do it all alone.

Question (Mr. Bright): What is the strategy to identify recession?

Answer (Mrs. Onwubiko): If the money you have cannot buy you the things you need; People are out of jobs - 79.9% of the people in Nigeria are out of jobs. It is also a time of opportunities, example is in agriculture, minerals and education sectors, which have grown over a period of time now.

Question (Mr. Bright): How can someone budget and invest in recession?

Answer (Mrs. Onwubiko): Looking at a lot of risks involved, 85% of businesses die in the first 2 years. So you need to be sure why you are doing what you are doing. It should be in an area where God has given you a talent, that you have a calling for, especially long-term business. Financial management is also very important. Spending lavishly will not allow a business to grow. We need to look inwards as Christians. It's all about your mindset.

Mrs. Victoria Onwubiko answering questions from the moderator

Question (Mr. Bright): How do we know when the recession will end?

Answer (Mrs. Onwubiko): When people starts getting jobs, and that would not be the federal or state government jobs, but it would be private companies. And also when foreign currency (exchange) increases. That's when you know that things are moving and improving.

Question from the audience - How do we get funds fro SMEs (Small Medium Enterprises)?

Answer (Mrs. Onwubiko): Bank of Industry (BOI) do special funds for women and the youths who are just coming out. Micro-finance banks too give loans, after saving for about 6 months. The church should also be a community where people can come and learn, form a cooperative, and where they can come and get money (loans).

There is also OPM - Other People's Money. It is another way of starting a business. Financial management is also very important to surviving (Savings and prudence in spending)

Question from the audience - How do you start (a business) as a young person?

Answer (Mrs. Onwubiko): Just start from somewhere. Whatever you can think, you can achieve it. Education is different from skills. Skills is what makes you a blessing to your family and generation.
Consistency and diligence is very important, don't be indolent. Also make yourself available when the church organizes programmes for capacity building.

Look inward and you will see what you can achieve!

The senior pastor, Pastor Bukky Ajide rounded off the Church Unusual programme by some words of encouragement

"We wanna thank the the guests and everyone for those contributions. First, we need to get knowledge, don't allow recession to burden you down. Don't also forget the principle seed-time and harvest. Have a dream and begin to sow seeds to that dream. Financial knowledge/literacy is very key".

Thank you all.