National Economy
Saturday, June 7, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

Businesses, Night Life Almost Grounded Amid Harsh Economic Realities 

by `
2 years ago
in Business, News
Reading Time: 2 mins read
Harsh
Share on FacebookShare on TwitterShare on Telegram

 

The harsh economic situation in Nigeria, which has been exacerbated by the removal of petrol subsidy and high dollar exchange rates has become a major challenge for recreation businesses.

A visit to some recreation spots within Abuja showed low patronage, as most of the spots recorded very scanty crowds.

The popular “Yellow Page” spot in Kubwa, which houses several shops and football viewing centres, is usually a beehive of activities, especially during the weekends.

You May Like

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

There, assorted roasted fish, various alcoholic and non- alcholic drinks, and other varieties of consumables are usually ordered by scores of fun seekers.

But the place recorded very low patronage on Saturday evening.

The same experience played out in other notable fun spots in Kubwa, like the Glass Top Lounge in Phase 4, Native Spot on Gado Nasko Road, and Kerry Para Lounge on Sultan Dasuki Road.

The situation was not different in Lugbe, Garki, Nyanyan, Kati, Gwagwalada, and Mararaba and other parts of Abuja.

A fun seeker, simply identified as Mark, said that the harsh economy makes very little allowance for recreation.

According to him, roasted catfish, which used to be sold for N2,000 is now sold for between N3,500 and N5,000.

“In some highbrow areas, catfish goes for between N7,000 and N15,000.

“Hero beer that used sells for N400 is now between N600 and N700. Heineken beer has increased from N600 to about N1,000, same with big stout.

“Now, most people have reduced their consumption rate of those items. Others simply remain indoors as there is no extra money to spend on leisure.

“Even hookup business is suffering as most of those girls will hangout for hours without any patronage, even when many of them have been forced to reduce their prices, ” he said.

According to Patrick Abu, the Manager of Glass Top lounge, the lounge is only struggling to remain in business as patronage has dropped drastically.

He urged the federal government to take steps to improve the economy so that small and medium-sized businesses could qthrive.

“The running cost is high and customers are few. We are just struggling to maintain our standard and remain in business.

“The dollar rate is affecting everything, and then, the increase in the pump price of petrol is another major challenge.

“The government should do something urgently to improve the living standards of Nigerians so that our businesses can thrive, ” he said.

 

Tony Okoro, the Manager of Kerry Para lounge, said that harsh economic situation was not limited to recreation business.

“The economy is bad, and it is affecting every business. But we are most affected.

“Just look around. it is about 6.p.m but you can see very few people here. Usually, by now, the place would have been filled up.

“A carton of heineken that we used to buy at N4,000 is now N6,000. Everything has gone up, and the customers are no longer coming.

“Government should do something urgently to save our business, ” he said.

Tags: Economic RealitiesNight Life
ShareTweetShare
Previous Post

COP28: World Taking Action To Slash Methane Emission

Next Post

Bridging Funding Gaps In Micro, Small, And Large Businesses

ANOTHER GOOD READ

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers
News

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

4 days ago
1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses
News

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

4 days ago
FIRS Engages Oil, Gas Stakeholders On E-invoicing Ahead Of July Launch
News

FIRS Entering New Era Of Excellence, Trust — Adedeji

4 days ago
Mouka Rewards Top Business Partners With Trip To Cape Town
Business

Mouka Rewards Top Business Partners With Trip To Cape Town

5 days ago
Union Bank Hosts Math Contest For Hearing-impaired Students
Business

Union Bank Hosts Math Contest For Hearing-impaired Students

5 days ago
Blue Sands STEM Lab, Others Take Top Prize At MarkHack 4.0
Business

Blue Sands STEM Lab, Others Take Top Prize At MarkHack 4.0

5 days ago
Next Post
Bridging Funding Gaps In Micro, Small, And Large Businesses

Bridging Funding Gaps In Micro, Small, And Large Businesses

Most Recent

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

June 3, 2025
1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

June 3, 2025
FIRS Engages Oil, Gas Stakeholders On E-invoicing Ahead Of July Launch

FIRS Entering New Era Of Excellence, Trust — Adedeji

June 3, 2025
JUST-IN: Reps Pass Tax Reform Bills

N250bn Public Expenditures Unaccounted — Reps

June 3, 2025
5 Unicorns In 9 Years, Who Does That?

5 Unicorns In 9 Years, Who Does That?

June 2, 2025
Guinness Record: Ali Seeks Gov Eno’s Support For World Title Fight

Guinness Record: Ali Seeks Gov Eno’s Support For World Title Fight

June 2, 2025
2026 World Cup Could Change Football Experience – Neymar

2026 World Cup Could Change Football Experience – Neymar

June 2, 2025
2025 National Sports Federations’ Board Elections: NSC Unveils Timeline Proposed Timelines For 2025 National Sports Federations’ Elections

2025 National Sports Federations’ Board Elections: NSC Unveils Timeline Proposed Timelines For 2025 National Sports Federations’ Elections

June 2, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy