Global economic growth has decelerated in the past year due to inflationary pressures and fears of recession. Commodity price hikes, supply chain disruptions and foreign exchange pressures have been among the most significant challenges for African businesses so far in 2023.
In Nigeria, political changes coupled with a lingering cash scarcity, have significantly impacted the livelihoods of middle- and lower-class citizens. Within this context, the relationship between business and society has evolved. Customers are demanding more at less cost. They are also quick to publicly call out unfair business practices on social media. PREMIUM TIMES had a chat with Subomi Plumptre to discuss these issues and more.
PT: Please, could you give us a brief overview of Nigeria’s current socio-economic challenges?
