Ten years ago, Louis Carter Industries boomed. Its products were everywhere and sought-after by traders of household items. The firm’s Nnewi, Anambra State factory, was a beehive of production activities as buyers waited in droves to off-take its plastic gallons and bowls. But then an economic tsunami struck. Foreign exchange scarcity, which had begun in late 2015, sent raw materials costs through the roof. Cost of production piled. Then, in 2017, the company shut down. “We had a very rough time with the cost of power. We were challeng
Ten years ago, Louis Carter Industries boomed. Its products were everywhere and sought-after by traders of household items. The firm’s Nnewi, Anambra State factory, was a beehive of production activities as buyers waited in droves to off-take its plastic gallons and bowls. But then an economic tsunami struck. Foreign exchange scarcity, which had begun in late 2015, sent raw materials costs through the roof. Cost of production piled. Then, in 2017, the company shut down. “We had a very rough time with the cost of power. We were challeng