The business environment in Africa’s largest economy is getting tougher by the day, and the chances of business owners keeping their businesses running are getting slimmer, as costs of operations balloon. HENRY FALAIYE looks at the challenges and the way forward
An increasing number of Nigerian businesses are feeling the strain of the increasing costs of production, largely due to the removal of subsidies on petrol and diesel.
As a result, the costs of petrol and diesel continue to climb, causing production expenses to surge. This unpleasant situation has become a cause of worry for some operators that their businesses might fold up if the government fails to intervene urgently.