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Nigeria: New Year expectations for businesses

The New Year comes with resolutions and expectations for businesses of varying sizes.

In Nigeria, the year 2020 for business wasn’t a mouthwatering time for them as a lot of establishments experienced losses, cut in salaries, closure, and staff reduction.

As the new year 2021 is rolling out with different expectations, businesses are expecting to blossom with a promise of hope that the global pandemic, Coronavirus would subside as a result of the newfound vaccine to tackle the menace the virus has posed on the economy of Nigeria.

The Christmas and New Year celebrations in Nigeria saw a low turnout in sales as people weren’t sure of the proceeds that the New Year has to offer, the buying power of her people dropped due to unemployment and the cost of goods were on a high price even as the Nigerian economy is battling with recession and inflation.

In the late part of last year, the Nigerian government reopened some land borders in a bid to salvage the economy after a long closure from the Coronavirus pandemic.

The average Nigerian business is optimistic that the New Year would produce a great yield regardless of the economic situation Nigeria is facing.

The Nigerian populace is in high hopes that things would return to normal in no time as the average Nigerian person has a strong hope in God even in the face of adversity.


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