Inflation in Nigeria: How Rising Costs Are Impacting Consumers.
Inflation has become a persistent issue in Nigeria, a challenge that continues to weigh heavily on consumers nationwide. Defined as the increase in the prices of goods and services over some time, inflation erodes purchasing power and leads to economic uncertainty. In Nigeria, the inflation rate has been on a sharp incline, affecting the livelihoods […]
3 Questions Every Nigerian Entrepreneur Should Be Asking!
Except you’ve been living under a rock, you are probably aware of the wave of protests that swept through Kenya and made its way to Nigeria. Scratch that, you don’t need to live under a rock not to be aware of the protests in Africa. I currently live in a country where a good number […]
Latest Global Trade Changes and How They Impact Your Finances
A few weeks ago, the Nigerian government signed a “new-old” national anthem into law, a situation that has sparked outrage among citizens. In a period where the country’s inflation is increasing daily and other dire economic and national issues, there is certainly a case of misplaced priorities somewhere. Moving forward, the global trade landscape is […]
Nigeria’s Economy to Slip from First to Fourth Place – Understanding the Implications, Surprises, and Citizens Perspectives
Nigeria’s Economy – In 2022, Nigeria recorded a GDP of 477.4 billion US dollars, to become the largest in Africa –a few years later, with a steady decline in GDP among other factors, the country’s economy is set to slip to fourth place according to forecasts from the International Monetary Fund. The IMF’s World Economic […]
What Does the Rising Naira-Dollar Disparity Mean for Nigerian Businesses? PT. 3
“Although we have tried our best to keep the expenses low, our operating costs have increased significantly due to the global factors in recent times. This has brought us to a tough decision of a 10% general increase on all our products.” The above is an excerpt from a recent notice of a price increase […]
2024 Housing Trends – What To Expect in Nigeria’s Real Estate
Before we talk about the 2024 housing trends, let’s get some statistics in. In 2023, the real estate industry in Nigeria was marked with a major touchpoint – the removal of fuel subsidies earlier in the year. The decision by the government to lift fuel subsidies had far-reaching consequences that directly affected the purchasing decisions […]
Don’t Let Inflation in Nigeria Ruin Your Life. 10 Practical Ways to Manage Your Finances in Nigeria.
Inflation in Nigeria – Inflation is a persistent increase in the general level of prices of goods and services. It erodes the purchasing power of money and makes it harder for people to afford the things they need. Low income earners are especially vulnerable to inflation, as they have less savings and assets to cushion […]
Housing Trends Today – What to Expect in Real Estate.
The global housing industry in 2022 presented an outlook that moved from promising in the early parts of the year to uncertain in the latter parts. In Nigeria for example, insecurity, flooding, and issues with the economy formed part of the challenges that affected the sector. A more worrisome development was the inflation rate within […]
5 Proven Ways To Diversify Your Income in 2023!
Are you feeling the January drought yet? If you are, we can relate to that. It is still early in the year and that presents ample opportunity to make better financial choices, so you don’t repeat the financial mistakes of previous years. The truth is, to diversify your income can be quite a challenge, especially […]
Lifestyle Inflation and How it Affects Your Business
Lifestyle inflation is when your expenses gradually scale up over time, as your income rises. It can be a temptation to buy more stuff as your salary increases, but this can be harmful to both your personal finances and your business. It can be a dangerous trend for your business because it can lead to […]