Nigerians De Risk Business Travel Like Never Before!

My people, e don set! You sabi say Nigerians dey travel abroad for business like say dem sign contract with air company?

No be small matter oh! According to Central Bank of Nigeria report, na 366% increase wey dem record for business travel spending, waka from $144.19m for 2024 to $672.27m for 2025. This figure no be child play, e carry weight!

For first quarter of 2025 alone, dem japa carry $231.7m, second quarter still hold ground well with $234.56m, dem even show small pause in third quarter with $205.97m. You fit see say Nigerians dey take business matters serious!

But wetin business travel mean? Na all the money wey Nigerians dey spend when dem gatz go abroad for work, like meetings and conferences. Na only accommodation and food dem dey calculate, as ticket money no dey enter this billing.

As currency matter dey shake small, we still dey see improvement for FX access wey boost international business travel. Dr. Muda Yusuf, wey be director for Centre for Promotion of Private Enterprise, talk say this spending dey show say confidence don rise among Nigerian business people.

According to am, if business people dey travel reach abroad, e mean say dem get work, and dem dey manage am well. Even Professor Segun Ajibola join the gist tell us say the jump for spending fit get positive or negative side. If na expansion of business, na good news, but if dem just dey scatter money anyhow, na wah be that!

Another big fish for Nigeria business world, Adewale Oyerinde, don talk say this increased spending fit make our foreign reserves go down fast fast. If dem no balance am with good export income, our cash fit dey waka anyhow. E don dey clear say hotel wahala plus naira wahala dey make travel cost dey higher than usual. Lagos and Abuja hotels, you go spend extra 40% just to sleep!

Nigerians wey dey run international business sabi say dem fit face major squeeze. Even if dem fit choose to travel virtually, e no go fit replace the face-to-face connection wey dem need.

So my guys, the matter wey dey play for local business scene dey sign we say, make we watch closely how dis increase dey affect our economy. Na balance we need o, else our business go just dey run out of steam!