Signals Convo with Itunu & Tobore

The hosts Tobore and Itunu were interested in knowing how business owners in Nigeria thrived despite the current challenges they face in the country. The hosts mentioned a number of factors that made the ease of doing business quite uneasy, and sometimes stalls business operations for business owners. The fluctuations with foreign currencies, poor power supply, bad roads, and extortion transporters of goods face in the city and on the highway, to mention a few.

Some callers called in to express their opinions about how they’ve been coping, and the challenges they face. A caller by the name of Ranking from Apapa was unhappy about why educated people argue about why the cost of goods in the market, he says this is because of the cost of fuel in the economy, and these items do not go down, he says he expects a different argument from people in the corporate sector who are more educated and exposed. Another caller whose name is Tade from Ajah explains how his laptop had developed a fault, which made him enquire about the price of a new one in 2022 which was about half a million, he states that this same laptop now goes for about a million. Ekene from Lekki who was a first-time caller on any radio show said the problem is the government and its lack of regulation on the prices of goods. He goes on to say the government is less concerned about the welfare of the people, Ekene also expressed his displeasure about how expensive it is to clear his car which is a 2009 sedan from the port after spending a lot to purchase and ship it into the country. Dominic from Ikorodu who is into the bread business also lamented about the high cost of goods. He went on to say that they hardly make a profit because of the way things are. Finally, Ekanem from Lekki complained about the high cost of living citing an example of when he started working in 2015 and earned fifty thousand naira, compared to 2022 when he earns one hundred naira and there was more value for the fifty thousand naira back in 2015 than there is for a hundred thousand naira in 2022.

These were some of the experiences of some Nigerians who were either doing business or affected by the policies the government had put in place. This also encompassed the cost of living for citizens and asking the government to intervene.