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Report cites job losses, business closures and difficulties finding employment among the major challenges affecting households.

Nearly half of Nigerian households experienced a major economic setback in the past year, according to a new report by SBM Intelligence.

The report identified job losses, business closures and difficulties finding employment among the major economic challenges experienced by households across the country.

The findings highlight the continuing pressure on household incomes and livelihoods as Nigerians contend with rising living costs, employment challenges and difficult business conditions.

For many households, the loss of employment or closure of a business can have wider consequences, affecting the ability to meet basic needs, pay for education and healthcare, and maintain household financial stability.

The report also points to broader concerns about the resilience of Nigerian households and the capacity of individuals and businesses to withstand prolonged economic pressures.

The findings are likely to fuel further discussions around employment creation, support for small businesses and measures to strengthen household economic security.

SBM Intelligence's report underscores the need for policies that not only address macroeconomic indicators but also translate into improved livelihoods and greater economic opportunities for ordinary Nigerians.