Small and Medium Enterprises (SMEs) are now struggling to make sales and profit due to the spike in the prices of commodities in various markets across Kaduna State.
Some small business owners who spoke to the News Agency of Nigeria (NAN) on Sunday said that they fear being thrown out of business due to the situation.
Ruqayyah Yusuf, a local candy producer said the hike in the prices of raw materials had slowed down production for her, causing a halt in sales.
” We are trying to adjust our pricing in order to maximize our profit but the cost of raw materials are not stable and are incredibly high for our customers to be able to afford our products.
“This has resulted in low turnover on sales and low profit as well,”she said.
Yusuf called on the government to intervene and save businesses from shutting down, adding that price control and a subsidy on food items would go a long way in easing the suffering.
Similarly, Aisha Tahir, a home-made Yoghurt producer said the high price of production had forced her to increase the price of her products, which led to low sales.
She explained that some of the packaging materials for her business were now scarce due to low production, saying she had to order from another state.
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On his part, Nasir Ado, a fashion designer, who sells women’s wear said that the cost of fabric had increased due to the rise in dollar causing high prices of production.
” Everything has gone up in the market, from fabric to sewing accessories everything is on the rise; the dress I used to make for N8,000 is now N15,000.
” We pray that the government will intervene and resolve this issue so that small businesses can thrive in this harsh economy,” he said. (NAN)
