00:00Lagos is almost 6,000 kilometers from the Strait of Hormuz.
00:05But the ongoing conflict in the Persian Gulf is hitting the Nigerian city hard.
00:12Electricity almost never comes.
00:15And at this printing shop, the rising price of fuel has brought business to a near standstill.
00:22Since the start of the war, the price of fuel has almost doubled now.
00:27Because we normally get it before the war at 800 naira.
00:32Now we get it within 12 to 14, which is almost the double of the initial price we get before
00:40the war.
00:41And with that, we have to merge orders together.
00:45Jobs that take within 24 hours to print, we give clients 30 to 5 working days now.
00:50Because even if at all we are going to run Gen, we have to make sure the job is enough
00:56to run Gen 4.
00:58So we don't have to start printing in small, small, which affects a lot.
01:03Any customer that needs their job urgently, hopefully, we can work with them.
01:06Obviously, we can work with them.
01:07This company isn't alone.
01:10In Nigeria, the retail price of fuel determines the cost of everything else.
01:17Businesses are having to choose between keeping their prices affordable and watching their profit margin disappear.
01:24We can't pass the cost of buying fuel to our clients because the market is competitive enough.
01:31In as much as we offer quality, we stand out, we don't want to do a comparison of quality.
01:38The clients also have to get something affordable.
01:42We need to put them into consideration because most times we deal with business owners as well.
01:46And they have to put a lot of things in place before they could afford the packaging.
01:50So we consider that a lot.
01:53One day recently, there was no electricity until 7pm and the cost of fuel was more than half of their
02:01projected profit.
02:03And so they wait for electricity and wait for the war to end.
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