A trader in Nigeria shares her experience of starting a foodstuff business and the challenges faced due to rising capital requirements.
“When we started this business in February 1994, the prices for commodities at the time were okay. My husband and I started with just N15,000 but without a minimum of over N1 million capital, I don't think someone can start a comfortable foodstuff business now,” a trader said. Standing behind a parked vehicle in front of her shop loaded with some food commodities, 58-year-old Nkiruka Romanus wipes her face with the back of her palms to clean a simmering sweat.
It was a hot Saturday afternoon in late January and Mrs Romanus recalled how she and her late husband started the foodstuff business with N15,000 in 1994. Mrs Romanus, popularly known as Mama Chikwado, has been in the business of selling food items such as beans, rice, flour, and sugar among others at the Olojudo market, Ido Ekiti, Ekiti state, for 30 years. With proceeds of her business, she has sustained her family over the years, especially after the death of her husband
Nigeria Foodstuff Business Trader Capital Requirements
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