Small businesses and consumer goods firms are facing heavy disruption in their supply chain and operational costs due to inflation,
currency risk, removal of fuel subsidies leading to a significant increase in energy costs, and scarcity of foreign exchange . currency risk, removal of fuel subsidies leading to a significant increase in energy costs, and scarcity of foreign exchange .
In fact, small businesses are struggling, and many are on the brink of collapse. Even big companies such as Nigerian Breweries have posted losses and released their audited results for the period ended December 31, 2023, revealing a net loss of N106 billion during the year, largely induced by the impact of the devaluation of the naira on its foreign exchange transactions.
The upward trend in the prices of basic food items continues to disrupt the spending pattern of consumers and citizenry, and individuals are refraining from spending on other households’ needs, products and services. Consumption and spending are currently weak in the country, which should ordinarily be the economy’s primary driver.
The necessary shopping, bargaining, and transactions can take place anywhere, and businesses can be accessible everywhere and anywhere in Nigeria with the adoption. Obviously, this strategy’s adoption will provide customer convenience that will enhance and reduce shopping costs.
President Bola Tinubu has approved the appointment of Brigadier-General Lawal Ja'afar Isa as Executive Secretary of the National Commission for Almajiri and Out-of-School Children Education. The President has also approved the appointment of Alhaji Tijani Hashim Abbas as Senior Special Assistant to the President on Chieftaincy Matters. General Ja'afar Isa is a respected leader…
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