Bishop David Oyedepo of the Living Faith Church Founder, has advised Nigerians against frivolous spending to overcome the current economic challenges.
Oyedepo said many issues of poverty and inadequate resources confronting the nation with the attendant problems facing the masses, were due to poor management and wastages.
“Many Nigerians do not budget for the airtime they consume per month but rather pay as they go.
“We have so many issues with our youths of today, ranging from unemployment, underemployment and the efforts at setting up new businesses but there is a militating problem of wasteful spending.
“In 2015, it was reported by the Nigerian Bureau of Statistics and the World Bank that Nigerians spent up to N447 billion on recharge cards monthly, which is even more than what is spent on food.
“The same thing applies to those who run small businesses; it is not for you to start living large from your small business but you should seek to grow it and expand further,’’ he said.