Nigeria is facing a grave situation as the public debt and economic crisis grips the country. With almost every action and reaction, the economical condition of the economy will get worse day by day. What is worse is that this problem has worsened due to lack of political will on the part of the Nigerian authorities to tackle this problem. Even though, the current Nigerian government has taken certain crucial steps to tackle this current crisis, it seems they are yet to find any success.
Government should take measures to resolve the public finance crisis fast if Nigeria is to survive these tough times. If Nigeria does not resolve these issues soon, there will be huge financial challenges ahead. The rapid economic growth in Nigeria has created huge financial problems for people living in the city dwelling state. This has been very much frustrating for the government which has failed to address the problems of its people. The poor performance of the Nigerian economy has resulted in the state of affairs wherein most of the people are now suffering from hunger.
The situation in Nigeria is not any different than what happened in the past when there was no political will to address the debt problems of ordinary people. The last Presidential election as well as the recent assembly election show that there is absolutely no political will to address the problems of the common people. The people, who have lived in the rural areas for decades, are the ones who have suffered the most from the economic downturn. They are now running from pillar to post seeking financial assistance to meet their basic needs.
Although, there have been certain positive measures taken by the Nigerian government, yet these measures are just a part of the solution. At the same time, it is obvious that the government cannot continue to do nothing about the unpaid debt. There has to be a way to resolve this problem that will ensure both debt relief and economic growth in Nigeria. There is a need to bring a change in the mentality of the Nigerians; it is time for them to realize that there is a problem when there is so much wealth to be enjoyed in the country.
Fortunately, there are debt relief options that have been formulated by experts and professionals. These experts and professionals know that the best way to proceed with debt relief is to use the debt settlement process. This is the option that is preferred by more than eighty percent of those who used it. Why is it that more than eighty percent of those who opted for this process were successful? The reason lies in the advantages that this form of debt relief offers over other forms of debt relief options.
Firstly, debt settlement is the only option that ensures guaranteed economic growth in Nigeria. It is not very difficult to understand why the majority of the people are opting for this particular debt relief options. For starters, it is the best option that is available for them. When an individual for a settlement, he/she will be given a benefit of about fifty to seventy percent of the total money owed to the creditors. On the other hand, the government will be . . . . . . providing a further thirty to forty percent as grant.
Secondly, there is no risk involved with using debt relief options. There are several other alternatives that have risks attached to them like bankruptcy. However, this is not the case when you opt for a settlement. Apart from the fact that you do not have to pay the full amount, you do not have to face any negative consequences. This is a clear indication of the reason why more people are opting for these options.
Next, it is the simplicity of the process. In case of any other solution, it is obvious that individuals will have to face a lot of difficulties and difficulties in the entire settlement process. The reason is that due to many complications, it will be difficult for an individual to settle his/her debt on time. This will result in another burden being added to your debt. However, when you opt for a settlement, you can be rest assured that all the complications and risks are not with you.