How high inflation is fuelling entrepreneurship in Nigeria

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Inflation has been a major issue in Nigeria reaching a record high of 18.17% in March 2021. This has had a significant impact on the economy leading to rising costs and lower purchasing power for consumers. However this challenging environment has also sparked an increase in entrepreneurship as individuals seek alternative sources of income. With the rising cost of living many Nigerians are turning to entrepreneurship as a means of survival and to combat the effects of inflation. This trend is evident in various sectors from food and agriculture to e-commerce and technology as individuals and businesses adapt to the changing economic landscape.

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  • 1) What are the challenges and risk that Nigerian entrepreneurs face in high inflation environment like ours and how are they adapting to it?
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  • 2) With an all-time inflation of 34.80% recorded at the end of last year, what are the economic challenges facing the average consumers in Nigeria?
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  • 3) What are the impacts of this high inflation having on the general standard of living of Nigerians?
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07 Mar

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07 Mar

27 Days

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