“I Am Drained”: Drama As Mercy Aigbe Cries Out Over Exchange Rate, Asks Fans for Help
- Mercy Aigbe has stated how frustrated she is doing business in Nigeria because of the high exchange rate
- She revealed that she has been trying to order some goods for her fashion store with hopes that the dollar will come down
- The actress had to get those goods in tears and sadness in her heart as she complained about how tired she was
- In an exclusive chat with Legit.ng, Homto Dokpesi, the CEO of Kehlora Global Ltd, said doing business in an economic downturn can be challenging, but with appropriate strategies, it is possible to navigate the challenges
Nollywood actress Mercy Aigbe has taken to social media to vent her anger and share her frustrations with her fans because of Nigeria's skyrocketing rate of dollar exchange.
According to her, the high rate of changing dollars has affected her business so much that all her energies are drained.
Source: Instagram
Mercy Aigbe reveals she was in tears after ordering goods
The mother of two who owns a fashion store couldn't hide her sadness and tears after buying some items abroad. She wrote that she tried to wait and maybe the exchange rate would reduce, but it didn't.
She had to ask fans who are into business to share their experience and how they have been handling the situation.
See her post here:
Fans react to Mercy Aigbe's post about her business
Reactions have trailed Aigbe's message about how hard it is to do business in Nigeria.
Here are some of the comments below.
@kennymoreng:
"Well different strokes for different foes it pays for people outside Nigeria but it affects Nigerian back home."
@tovia_james_unusual:
"I don't throw shades but when you people as celebrities were supposed to stand up and use your fame to help the country's situation you guys sat back and most of them in, the likes of Toyin Abraham, did the most."
@muelseun':
"Talk to Asiwaju Baby, asiwaju don share vision with her, she is the best person you can talk to now ."
@mumcy_cisse:
"It's well agbekeade mi."
@mandrskincare:
"I will not give up in Jesus name."
@austins_nails:
"Emi lokan."
@flexomolola1:
"1 pounds is 1,520 naira today."
@shangeorgefilms:
"I simply retired. D wahala is too much."
@stardomcakes:
"Ask bakers,we can't even breathe , It is well ."
@diiadem:
"I will will never give up in Jesus name,things are harrrddddd."
Homto Dokpesi says high dollar exchange rate can affect business
In a chat with Legit.ng, Homto Dokpesi said a weaker local currency makes imports more expensive, thus increasing operational costs. It may also lead to higher prices for goods and services, negatively affecting consumer demand.
She said:
"A high dollar exchange rate may also lead to higher prices for goods and services, negatively affecting consumer demand. To cope with the harsh economic conditions and remain successful, entrepreneurs can diversify revenue streams by exploring new markets, products, or services to reduce dependence on a single source of income. Such businesses can optimise operational efficiency: Review and streamline business processes to cut unnecessary costs and improve productivity. Could you identify areas where automation or technology can be leveraged to reduce expenses? Build strong customer relationships: Focus on delivering value and exceptional customer service. Retaining existing customers and building loyalty can provide stability during tough economic times."
Not stopping there, she added that continuous learning, innovation, and adaptability are crucial in a changing economy. Business owners should invest in their skills, stay abreast of market trends, and be open to innovation. This can help them stay ahead of the competition and identify new avenues for growth.
AY's wife, Mabel, cries out over the high exchange rate
According to a previous report by Legit. ng. Mabel, the better half of comedian AY, lamented on social media how the high exchange rate affects businesses.
She complained about how affordability had become a luxury in most homes and how it had led to many parents taking their children away from private schools.
The businesswoman had to ask her followers for a way out of everything she had written about buying, selling, and the Nigerian economy.
Source: Legit.ng
