ROUND NINE
Top Insights
Businesses continue to face challenges on both the demand and supply side. Clients have reported a return of customer of some degree: those experiencing ‘fewer /no customers’ decreased from 69% in round 1 to 55% in Round 9. However, businesses are increasingly affected by a ‘low /no supply of goods’, which from 27% in round 1 to a high of 38% in Round 9. These impacts squeeze businesses on both the demand and supply sides and suggest a prolonged risk of decreased revenue and slow recovery.
Household and business financial worsened slightly: 37% of clients said their household financial situations was ‘very much worse’, returning to levels reported three Rounds ago in early November. 29% of employers were also unable to pay salaries in Round 9, compared to a low of 24% in Round 8. This may indicate that clients were forced to choose between increasing investment to purchase suppliers for the business rather than paying employees.
Experience did vary by region: incomes in North West and South South were the worse compared to the overall Picture. More than 4 in 5 businesses in these regions reported ‘very much decreased’ income from early October until end November. These dates do appear to align with protest, city violence and subsequent curfews in major cities in Delta, Edo and Kano States. Nonetheless, there are also differences in GEEP loans and employment sectors that could also contribute to regional differences.