The Foreign Exchange (FOREX) in Nigeria rate has experienced a consistent fall below expectations in the last few months, affecting many Nigerian businesses.
With the FOREX rate at the parallel market standing at around N570 per dollar, businesses are facing difficult times to stock and sell their goods, resulting into Nigerian businesses facing various setbacks and leaving many entrepreneurs with uncertainty by which many are now lamenting that their businesses are no longer thriving as before.
Against this background, many people have resorted to the use of local products as traders who sell wears said that patronage is low since customers are no longer buzzing in like before.