What will Peter Obi’s Presidential win on Saturday’s 2023 Nigerian elections mean for Nigerian hair vendors?
In 2018, I remember pricing 18 inch bone straight hair in Wuse market for N40,000.
Then in 2022 when I went back to my hair vendor I bought 14 inch bone straight human hair for N100,000.
Nigerian hair vendors are facing challenges with importing human hair extensions, wigs and bundles from their usual manufacturers overseas.
In previous years, the increasing demand for frontal closures and human hair bundles in Nigeria had made millions for many Nigerian hair vendors.
But nowadays the hair business is tough.
From hair care products to frontal closure wigs and bundles, importing these items has been a major challenge for businessmen and women.
Because Nigeria is currently a consumption state, many hair vendors in Nigeria import their hair goods and products from countries such as China, Vietnam, Cambodia and India.
But the current government’s trade and foreign exchange policies is making it hard for a lot of business owners including Nigerian hair vendors to thrive.
Some of the challenges hair vendors face in relation to importation include:
Depreciating Naira
Imposed restrictions on foreign exchange transactions
Naira to Dollar currency exchange
Lack of access to form A for business owners
Corrupt custom officials
Lack of access to quality hair products and hair extensions.
Imposed tariffs and taxes on imported goods.
All of these issues are making it more difficult and expensive for Nigerian hair vendors to purchase foreign currency to pay for imports from China, Vietnam and various hair manufacturing countries.

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In 2031 right, when he wins online!