Consequently, this results in a significant rise in the expenses associated with production and manufacturing in the country, and we have noticed the ongoing constraints on consumer spending and business continuity amidst the rising inflation. Because inflation is still rising and new price level and high cost of producing goods and services have continued to be the trend. But the real inflation rate in the country occasioned by the food inflation could be well above that. The marketplace for business transactions will be extended beyond traditional boundaries with the adoption of technology through e-commerce. By adopting e-commerce, businesses benefit from increased revenues and sales, improved market reach, access to new markets globally and cost savings on marketing and communication expenditures.

Source: Nigerian Tribune March 15, 2024 00:18 UTC