Naira scarcity may affect private business in Q1 - Report

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It will be recalled that in February, Nigerians were faced with fuel and naira scarcity.

It added that “The decline in new orders was the first since June 2020, while the fall in output ended a seven-month sequence of growth. In both cases, the reductions were the most pronounced in the survey’s history, apart from during the opening wave of the COVID-19 pandemic.

“With new orders and output falling, companies reduced their input buying and staffing levels accordingly. The declines were the first in 32 and 25 months respectively. The decrease in purchasing reflected not only a drop in customer demand but also difficulties for companies to find the funds to pay for items.”

The report also showed that scarcity of cash also led to an increase in the cost of fuel, and operational costs of businesses and organisations.“The rate of inflation was the softest since June 2020, but marked nonetheless and stronger than the series average. Staff costs also rose again in February, but at a modest pace,” the report added.All rights reserved.

 

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Exactly!!!

Good day everyone my name is Adedeji I can build jet engines, helicopter engines, gas turbines, advanced missiles engines, hypersonic engines, hydraulic systems and many more

It's already affecting. Bank collected money from people and refused them Access to their money. Economy is been crippled

Affected already especially in the rural areas

“May” ?

Pressure ti wa😒

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