Let no one kid you any further. We are in a recession and it may take up to 2018 for us to come out of it.
This is the time to be very pragmatic, review your spending critically and cut down or cut out some areas.
Don't spend unless you have to, cash is king. This is no time to embark on capital projects or acquire assets except you are one of the small percentile that saw this coming, had the means and built a stockpile of cash reserves.
For those in this class, a recession is when wealth changes hands as they are in a position to buy assets at discounted rates. For the rest of us, we need to spend extra wisely and cut out areas of waste.
If you haven't had a family economic retreat yet, this is the time to do so.
To tell junior to face his WASC and JAMB exams seriously because study abroad or in a private university in Nigeria is no longer on the table.