A Nigerian entrepreneur has expressed his concerns on social media regarding the escalating costs associated with conducting business in Nigeria.
In a video he shared on social media, the individual stated that in 2018, he procured 800 bags of Groundnut at a cost of N2.4M. However, at present, the same monetary amount can only procure 40 bags of Groundnut.
‘’In order to understand the level of devaluation we have gone through and the impact of inflation in Nigeria, I want to tell you as a businessman. In 2018, I bought 800 bags of groundnut at N2.4 million. For the same equivalent of that money, I bought only 40 bags. If this does not shock you, nothing will shock you again”
Please take a moment to view the video shared below……..
