Reality TV star and entrepreneur, Leo DaSilva, has opened up about the financial struggles a company he helped raise funds for has faced since President Tinubu took office
According to him, the company has fallen into “generational debt” due to the severe depreciation of the naira and economic policies under the current administration.
Taking to his X page, the businessman compared the business environment under former President Buhari to the current situation. He revealed that in 2019, the company secured $10 million in international funding with a 5% interest rate, which he described as nearly unsustainable. However, under the present administration, the economic downturn has made it nearly impossible for businesses to access good loans.
Expressing his concerns, Leo stated,
“If we do not export more things, Naira will be killing many businesses.” He also hinted at the challenges faced under the previous Central Bank of Nigeria (CBN) administration but left further details for another time.
See his posts
Leo’s revelations highlight the growing difficulties Nigerian entrepreneurs face in securing funding, raising concerns about the future of business growth and investment in the country.
