A Nigerian businessman has voiced his frustration over the skyrocketing cost of doing business in the country, highlighting the severe impact of inflation.
In a video posted on social media, the entrepreneur compared his 2018 purchase of 800 bags of groundnuts for N2.4 million to his recent experience, where the same amount could only buy 40 bags.
“To understand the level of devaluation and the impact of inflation in Nigeria, I bought 800 bags of groundnut at N2.4 million in 2018. Today, with the same money, I can only buy 40 bags,” he lamented. “If this doesn’t shock you, nothing will.”
