Breaking News: MMM reduces crime and increase investment in Nigeria Says …

The acronym MMM is no longer a new thing to many Nigerians as over 2 million Nigerians are already in the system which they refer to as God sent in this time of economic hardship in the country. Some would say if not for MMM, how would they cope with the present economic hardship.
Tropage went round to get people’s views on what MMM has done in the country. Here are some of the views collated by tropage:

Reduction in Crime: People believe that MMM has reduced crime drastically in the society. In the past few months when MMM became popular in Nigeria, youths across the country see MMM as a platform for making more money as such their minds are occupied on what to do with the money generated through MMM. It is evident that the rate of crime such as stealing, kidnapping, internet fraud, 419 etc have reduced in Nigeria since MMM became popular among the young population of the country
Business Expansion: Despite the economic recession been faced in the country at the moment, Some MMM participants/promoters have expanded their businesses while others have established new businesses from money they have generated from MMM.
Expansion in Internet Banking: There has never been a time that internet banking in Nigeria witness massive usage more than the advent  of MMM. Through MMM people who have never thought of using internet banking now use it for their daily transactions thereby reducing long queues been witness in our banking halls. According to a reporter who spoke to tropage, he said before the advent of MMM he spends lots of man hours trying to make business transactions in the bank but now, he is aware of internet banking as a secured and safe means of transaction as such all his tranfers are done through internet banking thereby saving him time and resources.
Increase in the Use of Internet: Early November, NCC in its Monthly Internet Subscribers Data for September says the number of internet users on Nigeria’s telecoms networks has hit 97.21 million, up from the 95.37 million recorded in August. This increase, many believe could be largely as a result of MMM which is operated online as well as the various social media platforms been created for information and awareness on MMM. This also means that telecoms providers will also witness massive increase in sale of data.
Increase in Telecoms Communication: In MMM, members call one another other for transactions (To Get Help and To Provide Help) when ever they are paired with one another. As such they occasionally call to ascertain that such transactions will be done. These calls happen on a daily basis to ensure that transactions are smoothly done. As a result more airtime is needed at all times.  This may be one of the reasons we have not witnessed much decline in Nigeria communication Sector.
Increase in Consumption Capacity: MMM has made so many Nigerians increase there consumption capacity. MMM puts more money into people’s hands thereby making them to consume more either by buying assets, housing – shelter, food, clothing etc.
Consumption is the value of goods and services bought by people. Individual buying acts are aggregated over time and space. Consumption is normally the largest GDP component. Many persons judge the economic performance of their country mainly in terms of consumption level and dynamics. This means MMM has addede to the GDP of Nigeria in the past few months.
Increase in Saving: People who never thought they will ever have N100,000 in their account now have more than N1,000,000 in their account – all thanks to MMM for providing the opportunity for such wealth. According to a promoter of MMM who spoke with Tropage says if someone has told her few months ago that she will be having over N2,000,000 (N2m) in her bank account today, she would have thought such fellow would have been talking to the wrong person. She said MMM has made her to save more as she now has over N2m lying in her bank account. Going by this, if an average MMM participant has more saving in his or her account it means the banks will have more money for business transaction because as a student of economics, we believe that savings = investment.

All these and many more are the impact of MMM in Nigeria. The system has to be promoted to the fullest in Nigeria

Source: tropage


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