Responding To Economic Turbulence With Prudence, Prayer And Watchfulness

Proverbs 22:3 (ESV) states that “the prudent sees danger and hides himself, but the simple go on and suffer for it.” The word “simple” in this verse does not refer to humility, but rather to their stupidity. It refers to a simpleton, a person with little common sense or intelligence. A simpleton is the opposite of a genius. Christians are usually “simple”, not “prudent” about economic affairs. A kind of ignorant naivety, a blind belief that everything will be fine. If you are serious about watching your world, you must be prudent and knowledgeable.

The Bible asks that we “watch and pray.” You keep a watch by seeking out the relevant data, facts and information. Do not merely pray and confess the word. Also remember to set a watch. In the tumultuous landscape of Nigeria’s economic future, projections from the Nigerian Economic Summit Group (NESG) indicate a potential drop in inflation to 21.5% by 2024, down from the 24.5% recorded in 2023. According to the report, launched on January 24, 2024, this optimism is anchored on several factors. However, amidst these positive indicators, there are ominous shadows.

Food inflation, fueled by credit costs, security issues, and internal displacement, remains a serious threat. The removal of fuel subsidies is expected to increase core inflation by raising transportation and energy costs. Things will improve in the long run, but as a creative, business-minded Christian, don’t be a simpleton who ignores all facts and prays blindly. Follow Joseph’s prudent management style. We are urged to manage resources wisely, diversify our income streams, and seek stability in the face of economic shifts. Ignorance lacks both virtue and valour. In your financial planning, you are encouraged to be prudent, anticipating risks and taking precautions to protect your economic well-being.

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