BY
ADAMU FATIMA
U13MM1141
Recession is the period
when the economic output is decreasing instead of increasing thus having the
effect of reducing tax revenues to the government. This Forces the Government
to dig deeper into reserves and external borrowing to suffice its expenditure,
thus plunging the economy into debts, causing effects such as inflation.
Inflation directly boils down to the individual citizen who has to spend more
on goods and services as the cost of living escalates.
Nigerian students have
described this recession as a nightmare owing to the fact that the allowances
they get from their benefactors did not increase as the price of commodities
have. Hence the money they have to spend on books, typing assignment and even
feeding has not increased with the price.
Crime rate has
been increasing as a result of the high cost of living brought about by
recession. This is as a result of many students resorting to theft and fraud in
order to get an extra money for their upkeep and tuition fees. This will lead
to students living with fear as their property is always at risk of loss and
they are afraid of being harmed due to the violence that is associated with
stealing. The rise in crime rates will affect the concentration of students as
they cannot fully concentrate on their studies because of concern on the
security of their property. Crime rate also brings about insecurity around the
campus since the affinity of students to steal has risen. This creates an environment not conducive for studying and thus the students grades will drop
significantly.
Parents are not able to
support students effectively because some have lost their jobs due to employers
downsizing firms. This will cause a decrease in performance of students because
low standards of living give the student a hard time and thus they are not able
to have concentration in their studies thereby affecting their performance in
class. In order to achieve good grades, peace of mind is essential to be able
to grasp what is being taught during lectures and personal studies.
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