Why garri business is profitable amidst the high inflation in Nigeria?
Nigeria’s economic landscape paints a grim picture headline inflation at 22.97% , farm produce prices surging 28.98% in five months , and over 33 million Nigerians facing acute food insecurity . Yet within this turmoil, one staple food business—garri—defies the odds. Here’s why garri business remains a profitable venture despite economic headwinds. garri business amist high inflatation in Nigeria 1. Unshakeable Demand Elasticity Garri is Nigeria’s quintessential survival food - Price Resilience As a low-cost carbohydrate, demand of garri surges when inflation erodes purchasing power. Households substitute expensive staples like rice with garri, maintaining sales volume even as prices rise. - Nutritional Necessity With food inflation at 21.14% year-on-year , garri’s role as a calorie-dense, affordable meal (often consumed with inexpensive accompaniments like coconut or roasted fish) cements its market. - Urban-Rural Dual Market Urban popula...