Dr Ajibola Akinyemi

08/07/2025

FERAJ CONSULT ECONOMIC LITERACY SERIES

The Economics of Eating Out vs. Cooking at Home

Which Saves More in Today’s Nigeria?

With food prices soaring and income staying flat for many Nigerians, every meal choice is now an economic decision.
Do you cook at home or eat out? Which saves more? And what trade-offs are involved?

Let’s break down the hidden costs and benefits of both choices in Nigeria today.

1. The Cost of Cooking at Home

Pros:

Lower per-meal cost: You pay wholesale prices when buying in bulk

Healthier options: You control ingredients, oil, and hygiene

Feeds more people: One pot can feed a whole family

Cons:

Time-consuming: Washing, prepping, cooking, and cleaning

Utilities cost: Gas, electricity, water

Upfront spending: Buying ingredients in bulk can strain cash flow

2. The Cost of Eating Out

Pros:

Convenient: No time wasted cooking

Accessible: Bukas, fast food, food delivery everywhere

No cleanup stress: Eat, dump, done

Cons:

Higher cost per meal: You're paying for rent, staff salaries, and delivery charges

Uncertain hygiene or quality

🍴 Portion control & quality varies

Example – Same Jollof Rice for 1:

Buka price: ₦800

Fast food: ₦1,500–₦2,000

Delivery: Add ₦500–₦1,000

Per person: ₦800–₦2,500

Final Verdict:

If you’re single with a busy schedule: Eating out may save you time, but costs will pile up.

If you’re a family or couple: Cooking at home offers major savings — especially in bulk.

If you’re a small business owner or salary earner: Track your weekly food spending. Eating out daily may be eating your income.

Pro Tips to Save:

Batch cook and freeze meals

Track your weekly food expenses

Buy ingredients in markets, not supermarkets

Avoid food waste by meal-planning

Final Word from Feraj Consult

“Eating is personal, but spending is strategic.”
Food inflation is real — and your meal choices can either grow or drain your finances. Make smarter decisions daily.

01/07/2025

Welcome to July!

Happy New Month!

Beloved, welcome to the month of July, the seventh month, the month of divine perfection and rest.

May the God who completed creation in seven days perfect all that concerns you this month in the mighty name of Jesus

In this second half of the year, the God of completion shall finish what He started in your life.
Nothing missing, nothing broken! In the mighty name of Jesus

PROPHETIC DECREES FOR JULY
Declare boldly and believe with your heart:

In the name of Jesus, I step into the month of July with joy, peace, and divine purpose!

Every unfinished testimony in my life shall be perfected this month!

The second half of 2025 shall answer to me with favor, increase, and open doors!

By the mercy of God, I shall not repeat the battles of the first half of the year!

This month, I move from stress to rest, from delay to divine speed, from rejection to recognition!

I decree: July shall deliver unto me the harvests of prayers I have sown since January!

The angels of the Lord shall go ahead of me and preserve my going out and my coming in!

My hands shall not be empty! My table shall not lack bread! My head shall not lack oil!

Every good word spoken over my life shall find fulfillment this month!

So shall it be! In Jesus' mighty name! Amen!

“And the Lord shall perfect that which concerneth me...”
Psalm 138:8 (KJV)

Welcome to your season of divine perfection, completion, and peace.
Happy New Month once again and congratulations in advance!

25/06/2025

FERAJ CONSULT ECONOMIC LITERACY SERIES

The Economics of 'Japa': How Brain Drain Affects Local Businesses

In recent years, "Japa" — the Nigerian slang for emigration in search of better opportunities abroad, has become more than a trend. It’s now an economic force, one with serious implications for local businesses.

Let’s unpack how brain drain is silently reshaping the Nigerian economy — and hurting the very businesses that remain.

1. What Is “Japa” and Brain Drain?

“Japa” means to escape, flee, or run. In economic terms, it refers to the mass migration of skilled workers, such as:

Doctors, nurses, pharmacists

Tech experts, software engineers

Teachers, lecturers, and academics

Engineers, artisans, and even mid-level managers

This movement is a form of brain drain — where a country loses its top talent to foreign economies that offer better pay, structure, and quality of life.

2. How Japa Hurts Local Businesses

You may think only government institutions feel the pinch — but private and small businesses are deeply impacted. Here’s how:

A. Rising Cost of Skilled Labour

As skilled professionals leave:

There's fewer qualified people to hire

The cost of hiring experienced hands increases

A business that used to pay ₦150,000/month for an accountant might now pay ₦300,000 — or struggle to find any at all.

B. High Staff Turnover and Recruitment Costs

Even when you train employees:

They leave soon after, often to prepare for relocation

You’re stuck in an endless cycle of recruiting and retraining

This lowers productivity and increases operational risk.

C. Lower Productivity and Institutional Memory Loss

As top performers Japa:

New hires take time to catch up

Institutional knowledge is lost

You lose continuity and consistency

This affects your customer experience, quality control, and innovation.

D. Reduced Local Spending Power

Many migrants send money out of Nigeria (remittances). That’s great for families — but:

Less money circulates locally

Lower demand for goods and services within Nigeria

Businesses struggle to maintain revenue

E. Widening Skills Gap in Tech and Health

Tech startups, clinics, and consulting firms struggle to scale, as developers, analysts, and healthcare professionals exit en masse.

“I can’t find a software developer under ₦1 million/month anymore.” – SME founder, Lagos

3. The Flip Side: Any Benefits?

Yes — but they don’t always reach local businesses:

Remittances: Migrants send over $20 billion yearly to Nigeria (as of 2023)
Diaspora Investments: Some invest in real estate, education, and tech
Global Networks: Exporters and service providers can tap into the diaspora market

But these benefits are not evenly distributed and rarely compensate for the talent loss small businesses face daily.

4. What Can Local Businesses Do?

Retain Talent Creatively

Offer flexible work, growth plans, and training

Tie promotions to longer-term commitments

Recognize and reward loyalty

Invest in Systems

Reduce dependence on any one person

Automate processes where possible

Tap Diaspora Markets

Sell products/services to Nigerians abroad

Offer export options or partner with diaspora-facing businesses

Upskill Continuously

Run internal training

Cross-train employees to reduce disruption from exits


Final Word from Feraj Consult

> “The economics of Japa is not just about people leaving — it’s about the weight left behind.”
For Nigerian businesses, survival now depends on adapting, not just complaining.

Feraj Consult helps you understand the system, manage the shocks, and find opportunity in every trend — even this one.

24/06/2025

Even with inflation slowing, many retailers are still restocking at higher prices every month — profits are thinning fast.
Now’s the time to rethink pricing, inventory cycles, and credit sales before margins disappear.

24/06/2025

Headline inflation is easing, but your cost of restocking keeps rising — ₦2 million in January won’t get you the same stock in June.
Retailers must act fast: track prices, restock smart, and avoid long credit traps.

24/06/2025

Despite falling inflation in Nigeria, retailers are still struggling to restock due to high food inflation and rising restock costs.
Adapt smart or risk losses — slowing inflation doesn’t mean falling prices.

24/06/2025

FERAJ CONSULT ECONOMIC LITERACY SERIES

Inflation Trends & Restocking:
Why Nigerian Retailers Are Still Struggling (Despite Falling Inflation)

Between December 2024 and May 2025, Nigeria's inflation rate gradually declined — from 24.48% in January to 22.97% in May.
At first glance, this seems like good news. But if you run a retail business, you probably haven’t felt the relief.
Here’s why 👇


Headline inflation is easing, but food inflation remains extremely high (27–31%), and core inflation is still above 22% — squeezing all sides of the supply chain.

What This Means for Restocking as a Retailer

1. Higher Cost of Goods Every Month
Even if inflation slows, prices are still going up — just more slowly.
You’re constantly chasing a moving target. What ₦1 million bought in March now costs ₦1.15 million in May

2. Stock Turnover Doesn’t Match Price Change
You sell items bought at ₦500/unit, but now have to restock at ₦650/unit. If you don’t update prices immediately, you sell at a loss.

3. Food-Heavy Retailers Are Most Affected
With food inflation at 27–31%, retailers selling:
• Rice
• Cooking oil
• Baby food
• Packaged drinks ...face rapid and unpredictable price hikes.

4. Credit Cycles Are Dangerous Now
• You sold on credit in January, but restock prices are up 10–15% by May.
• If you don’t collect quickly and price smartly, you lose value while waiting.

Real-World Effect:
A retailer who restocked for ₦2 million in January may now need ₦2.3 million to buy the same quantity in May — even though headline inflation fell.
Less stock → More empty shelves → Fewer sales → Business stress.

What Retailers Should Do (Even While Inflation Slows)
• Restock more frequently in smaller units
• Track supplier and market prices weekly
• Avoid long-term credit sales unless markup covers future inflation
• Adjust prices transparently and consistently
• Push fast-moving, low-margin items more aggressively

Final Note from Feraj Consult
Slowing inflation is not falling prices.
Retailers must shift mindset from waiting for relief to actively adapting to protect profits and stock levels.
Stay informed. Stay profitable. Feraj Consult is here to guide your business through every economic turn.

23/06/2025

FERAJ CONSULT ECONOMIC LITERACY SERIES

Understanding Profit vs. Cash Flow: Why Some Businesses Still Fail Despite ‘Making Money’

You sold products. You made a profit. So why is your bank account still empty?

Let’s break this down.

1. Profit ≠ Cash Flow
Profit is what you see on paper. Cash flow is what you actually have to spend.
You can be profitable and still go broke — if your money doesn’t move at the right time.

2. What Is Profit?
Profit = Revenue – Expenses. It’s your accounting result after deducting costs like salaries, rent, raw materials, and utilities.

Profit can look good even if clients haven’t paid you yet.

3. What Is Cash Flow?
Cash flow is the actual movement of money in and out of your business.

*Negative cash flow = more money going out than coming in

* Positive cash flow = more money coming in than going out

Example: You made a ₦1M sale on credit. It shows as profit — but your bank account is still empty until the client pays.

4. Why This Matters in Nigeria

* Delayed payments: Clients promise 30 days, but pay in 90.
* High overhead costs: Rent, fuel, and salaries can drain cash quickly.
* Inventory lock-up: You’ve paid for stock, but haven’t sold it yet.
* Loan repayment schedules don’t wait for your profit.

5. Signs You’re Profitable but at Risk

* You’re always waiting for payments to clear.
* You borrow money just to pay staff or bills.
* You have big sales, but can’t pay rent.
* Suppliers are chasing you while you’re giving discounts.

6. How to Fix This

* Monitor cash flow weekly — not just profits.
* Negotiate better payment terms from clients and suppliers.
* Create a cash reserve for tough months.
* Don’t over-invest in stock that won’t move quickly.
* Invoice immediately and follow up aggressively.
* Delay non-essential spending.

Final Thought from Feraj Consult:

“Sales are vanity, profit is sanity, but cash is reality.”

You can’t pay rent with profits on paper. You need cash in the bank.

At Feraj Consult, we help you make sense of the numbers that truly matter for your business growth.

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21/06/2025

FERAJ CONSULT ECONOMIC LITERACY SERIES

Nigerian Small Businesses Exporting via DHL, FedEx & More!

Let's talk FX and Naira depreciation – it's a double-edged sword for us!

The OPPORTUNITY

When Naira depreciates (e.g., N800/$ to N1500/$), your $100 international sale becomes N150,000 instead of N80,000! More Naira in your pocket locally.

The CHALLENGE

Those international shipping fees from FedEx/DHL are in USD! So, a N25k shipment last year might be N55k+ now. Your costs go up too.

How to WIN & Stay Competitive

Price Smart: Build in safety margins for FX fluctuations.

Quote in FX: Use USD/GBP on Etsy, Amazon, Instagram.

Get a Domiciliary Account: Receive and use USD directly for shipping!

Consider Cargo Aggregators: Save on per-shipment costs.

The FX market is both your friend and foe. Price wisely, manage your currency, and thrive!

05/01/2025

"Success is not final, failure is not fatal: It is the courage to continue that counts." - Winston Churchill

At FERAJ Consult, we embody this spirit of resilience and determination. Our economic consulting services are designed to help you navigate challenges and achieve your goals.

Whether you need market research, economic impact assessments, policy analysis, or business strategy, we've got you covered.

Let's work together to drive growth, innovation, and success!

Call/WhatsApp: +2348056387911
Email: [email protected]

04/01/2025

🔍 Market Research & Analysis: The Key to Business Growth 🚀

At FERAJ Consult, we understand that success starts with knowledge. Market Research and Analysis are your business's secret weapons to:

1️⃣ Identify Your Target Audience: Know who your customers are and what they need.
2️⃣ Spot Market Opportunities: Stay ahead by uncovering untapped markets and trends.
3️⃣ Reduce Risks: Make informed decisions with data-driven insights.
4️⃣ Stay Ahead of Competitors: Understand the competition and position yourself strategically.
5️⃣ Drive Business Growth: Turn insights into actionable strategies for sustainable success.

Our experts use cutting-edge tools and methodologies to deliver accurate, actionable insights tailored to your unique goals.

📊 Let us guide your business to the next level with reliable market intelligence.

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📞 Contact Us: +2348056387911
📧 Email: [email protected]

FERAJ Consult – Empowering Economic Excellence.

02/01/2025