Rising costs threaten survival of small businesses in Abuja
BY MOTOLANI OSENI
Small business owners in the Federal Capital Territory are struggling to stay afloat as soaring electricity tariffs, transportation, and telecommunication costs erode their profits.
Many entrepreneurs say they can no longer break even, forcing them to cut expenses, lay off staff, and rethink their operations.
Chinyere Okonkwo, a bakery owner in Garki, said her monthly electricity bill had more than doubled, making production unsustainable. Abdulrahman Yusuf, a local distributor, lamented the impact of rising fuel and logistics costs on his income, questioning how he could continue to support his family. Dispatch rider Solomon Aghogho echoed similar concerns, saying the high cost of fuel had driven up delivery charges, leaving customers frustrated.
At the Apo Fish Market, trader Ekaite Bassey described the situation as dire, admitting that many businesses were barely surviving. Online vendor Nnenna Okoh feared that the proposed increase in telecommunication tariffs would further cripple small businesses that rely on digital platforms for sales.
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Businesswoman Agnes Ezenwa revealed that some traders had resorted to cost-sharing measures, such as bulk purchasing and joint deliveries, to stay in business.
Margaret Adepetu, women’s coordinator for the Association of Small Business Owners of Nigeria, called on the government to address electricity tariffs, logistics, fuel prices, and the weakening naira to help businesses thrive.
Business consultant Emeka Nwosu stressed that without urgent intervention, small enterprises across the FCT would continue to struggle, urging the government to implement policies that support business growth and economic stability.
