From ‘Essenco’ to Cash Scarcity: Navigating Nigeria’s Economic Challenges Across Generations

In 1984, we queued to buy rice, milk, and sugar, which were tagged essential commodities. They were essential commodities; they were scarce, demand outstripped supply, and people had to queue for

rationed supplies. There was money to buy food during that period that period. Hence, foodstuffs were tagged as essential commodities, also popularly known as, “essenco.” Those who attained maturity after 1984 may have yet to learn this. I pray that when we overcome these, food and cash scarcity. Fast-forward to 2024. There seems to be food, but purchasing power is low, and money is now the essential commodity.

Given the above, different generations face different challenges. I pray that when we overcome these avoidable pitfalls, food and cash scarcity will never happen again in Nigeria.

Avoiding the tribulations of “Essenco” would, therefore, require that we should collectively stay clear of the pitfalls that took us to Nigeria’s Red Sea, which began long ago.

Grace and peace!!!