By Durosimi Temitope
Traders and businesses on Nigeria campuses are not exempted from the harsh economy as they have lamented low turnover as costs continue to rise.
Daily Sun investigation on a few campuses in Lagos, showed the ripple effects of the country’s economic challenges which were evident in the small businesses that serve students.
From hairstylists to snack vendors, traders are adjusting their strategies to survive as inflation continues to bite harder.
For Joy Manu, a hairstylist, the rising cost of living has pushed her to depend not only on her skill but also on sales of hair products and snacks. She explained that customers now opt for simpler and cheaper hairstyles rather than elaborate ones.
“A lot of people don’t make hair on a daily basis, so we rely on selling hair products like hair cream, hair attachments, gels, and also snacks and drinks. Where we make more profit is during festive periods,” she said.
“Customers choose hairstyles that won’t take more money and more time. We’ve had to reduce prices on some styles to keep them from walking away, though the styles are no longer as extensive as before.”
Despite the difficulties, Joy believes her business remains more stable than traders who depend solely on goods.
“As long as it’s your skill, you can always rely on it. You can do home service or work in your shop. It’s safer compared to selling goods alone,” she noted.
The story is similar for Mrs. Olorunnifemi Annat Titilayomi, a trader who sells drinks and biscuits. She lamented that rising costs have drastically reduced her profit margin.
“Unlike before, when you buy soft drinks the gain will be much. But now, things are very hard. We buy at high prices and also sell high, yet customers buy less. Before, students could buy two bottles of drinks and biscuits, but now they buy just one,” she said.
To retain her customers, Mrs. Olorunnifemi said she focuses on relationship-building.
“I welcome my customers, build rapport, and treat the students like my children. Sometimes I even give discounts,” she explained.
For many small traders in university environments, the economic downturn has forced a delicate balance between managing costs, retaining customers, and staying afloat. While skills-based businesses like hairdressing offer some flexibility, commodity sellers continue to struggle with shrinking profits and declining students purchasing power.
As inflation persists, campus traders say they are left with no choice but to keep innovating and hoping for better days.
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