Overview

When I first wrote the first edition of the run-away bestseller: HOW TO CREATE MULTIPLE STREAMS OF INCOME in 2008, the global economy was just entering recession. Economic recession is a temporary slow down in economic activity or prosperity. Nigeria and other developing economics were playing the ostrich game. They were too sure the recession would not affect their largely mono-product economies. How wrong they were. Latest research findings as at 2010 show that: Between 1982 and 1999, poverty increased in Nigeria from 28% to 72%. By 2008, poverty index put Nigeria at 55%; meaning that over 75 million Nigerians live below poverty line. The World Bank classifies poverty into two levels: Moderate poverty and Extreme poverty. Moderate poverty is when a person is living on less than 2 US dollars per day (or N296:00 daily) and earning less than 60 US Dollars (N8, 880) a month. Extreme poverty is when a person is living on less than 1 US Dollars daily (N148:00) or less than 30 US Dollars (N4, 440) monthly. 75 million Nigerians live below extreme poverty level. Inflation is above 15%, while commercial banks charge 32% interest on loans. The crash in Nigerian stock market is said to be the worst in the world. 8 out of 10 men have only one source of income. 8 out of 10 men work very hard, but have no commensurate wages or money to show for their efforts. 6 out of 10 men are constantly borrowing and are in debt. 7 out of 10 men have no form of saving at all. 5 out of 10 men are really struggling to survive, talk less of providing for their homes. 4 out of 10 men depend on their wives for their needs and survivals. 6 out of 10 men either completely neglect or abandon their responsibilities to friends, relations and in-law. 8 out of 10 men spend their money heavily on frivolous things that have no relevance to their future or wealth building. 7 out of 10 men are controlled by competition and therefore use the little money they have to pursue what their friends, relatives, colleagues and associates have, in order to belong. 50% of men are comfortable with jobs that offer security, immediate satisfaction and financial gain. Only 2 out of 10 men are into fruitful investment. 80% of couples' waking moment is occupied by thoughts of money-making it, saving it, spending it, or giving it away. 70-80% of all marriage problems are caused in part by financial issues. 58% of marital problems that end in divorce are solely caused by money

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