A Nigerian businessman recently took to social media to express his frustration over the steep increase in business costs across the country. In a video he posted, he described how things have changed drastically over the past few years.

He recalled that back in 2018, he used N2.4 million to buy 800 bags of groundnuts. However, with the same amount of money today, he can only afford 40 bags. This shocking difference highlights how much prices have risen, making it difficult for businesses to survive.

The businessman’s experience reflects the broader struggles faced by many entrepreneurs in Nigeria. The rising costs of goods, driven by inflation and other economic challenges, are making it harder for business owners to stay afloat and maintain profitability. This is particularly tough for small and medium-sized enterprises that already operate with thin profit margins.

As costs continue to rise, Nigerian businesses are being forced to adapt or risk closure, putting immense pressure on both business owners and the economy as a whole.