Six major headwinds Nigerian firms faced in 2022

At the start of 2022, many Nigerian companies were still yet to fully recover from the fallout from the COVID-19-induced recession that the country slipped into in 2020 and were expecting the recovery to gather steam this year. But their woes worsened.

The spillover effects of the Russia-Ukraine war, which started on February 24, took a heavy toll on the operations of many businesses in Africa’s biggest economy.