Nigerian Entrepreneurs Adjust Operations To Remain In Business

Businesses move to maintain operations following subsidy removal

02:11 PM WAT, Tue September 12, 2023

Nigerian businesses have adjusted to remain relevant in the economy despite the challenging operating environment.

Petrol subsidy removal, exchange rate unification, high inflation rate among others appeared to have eaten up most Nigerians purchasing power.

In July, Africa’s most populous nation’s Annual inflation rate increased for a sixth month to 24.08%, the highest since September of 2005.

For a nation said to have 71 million people living in extreme poverty, running a business may be a tough task for entrepreneurs.

These businesses have had to adjust to remain in operation and reduce running costs.

For them, the Government needs to support businesses by enacting and implementing policies that will enable businesses to remain in business.