Nigeria’s business sector suffered major setbacks in the month of February, which also, was an election month that witnessed 2 weeks of unstable business activities and waiting-game by portfolio investors, as per reports.
The firms identified ‘insufficient power supply, high interest-rate, unfavorable economic climate, financial problems, unfavorable political climate, unclear economic laws, insufficient demand and access to credit’ as the major factors that constrained business activities in February.In the following months in 2019, the survey also captured businesses, predicting an 11.3 and 11.1 inflation rate for the next six and twelve months, respectively. As against the 11.37 percent in January 2019.
The report also captured some positivity in the service sector which indicated a higher disposition for expansion and employment.