The President of Small Businesses owners Association of Nigeria, Femi Egbesola, has lamented the impact of the policies of government on business owners
In a phone conversation with SaharaReporters, he noted that many business owners had abandoned their businesses to engage in menial jobs.
According to him, this development is strengthened by their inability to sustain their businesses and stop them from collapsing
“Many businesses have shut down and their owners have resorted to doing menial jobs to survive. Some persons now ride Okada (motorbike), while some others ride Keke Maruwa (Tricycle), other are engaged in substinence farming, while some have left the country to engage in menial jobs overseas, since the business climate of Nigeria does not favor their businesses”
He also demanded that a state of emergency be declared in the Nigerian economy, noting that more businesses are finding it hard to survive
“By November, we will have another survey and report to examine impact of these policies on businesses and many businesses are finding it hard to cope currently”
Nigerians have been groaning under the weight of policies by the Tinubu-led administration.
Policies such as naira devaluation and hike in price of fuel have been blamed for harsh economic realities facing many businesses who are forced to downsize and millions forced to shutdown.
Although the Tinubu-led government has continued to reassure Nigerians that its policies are on right track, more recently, stating that its copying China’s model of economic reforms, Nigerians are grappling with unbearable costs of living and a sprawling inflation.
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