Business owners in Nigeria’s Federal Capital Territory (FCT) have raised concerns over the growing difficulty of sustaining operations due to the country’s harsh economic conditions. From traders at local markets to restaurant operators and farmers, entrepreneurs say the high cost of doing business, coupled with declining consumer spending, is crippling their livelihoods.
Many attribute their struggles to increased transportation costs, inflation, and weakened purchasing power. They say even weekends, once bustling with customer activity, now feel like ordinary weekdays, as fewer residents can afford to buy goods and services in bulk.
At Apo Fish Market, a foodstuff trader said bulk buying has dropped significantly. She explained that customers now buy only what they immediately need, and many leave empty-handed after checking prices. A vegetable seller at the same market described selling produce at nearly a loss just to attract customers. He noted that buyers frequently request to pay in installments or seek lower prices.
“In a weekend market like this, you’d expect crowds,” he said. “Now we just sit and wait, and even when customers come, they buy on credit.”
In the Gudu market, a restaurant operator also lamented the rising cost of ingredients, even those that are in season. She said her daily sales continue to decline despite slight price increases to cover expenses. According to her, items that should normally be cheaper during their harvest period have become unaffordable due to inflation and supply chain pressures.
“Buying foodstuff today feels like buying gold,” she said. “And I don’t blame customers. We all are just trying to survive.”
She called on the government to urgently address inflation, stabilize the naira, and support local farmers to reduce food prices and ease pressure on small businesses.
A fabric dealer also spoke of reduced customer turnout and rising transportation expenses, which he said have eroded his profits. He urged the government to implement tax relief measures and improve access to credit for small businesses, warning that many entrepreneurs are “sinking fast.”
Similarly, a poultry farmer operating along the Airport Road said the rising cost of chicken feed, electricity, and transport is threatening his business. He often sells his birds at heavily discounted prices to raise money for basic family needs, he explained, warning that such a practice is unsustainable in the long term.
“If nothing changes, I may shut down soon,” he said. “We need the government to improve infrastructure and create better economic conditions. If not, unemployment and mental health issues will rise.”
Across the FCT, small business owners are calling for urgent government intervention to address inflation, improve infrastructure, reduce business costs, and restore public confidence in the economy. Without immediate support, many say their businesses may not survive.
