Naira Devaluation
17 Apr
Just last week, Nigeria’s local manufacturing sector was dealt a huge blow as one of the biggest brewers in the country, Nigerian Breweries, announced that it is suspending operations in two of its nine breweries.
14 Feb
Three companies under the Fast-Moving Consumer Goods (FMCG) – BUA Foods, Flourmills and Cadbury Nigeria – have incurred over N140 billion due to last year’s naira depreciation.
9 Feb
The organised labour, following persistent hardship across the country, yesterday, issued the Federal Government 14 days ultimatum to honour its part of the October 2, 2023 agreement reached with labour to address the ‘massive suffering’ caused by the hike in petrol prices and naira devaluation.
6 Feb
Chairman of Nigeria Governors Forum, Abdulrahman Abdulrasaq, has said the devaluation of naira has made Nigeria’s foods the cheapest in the West Africa region.
13 Nov
Following a downturn in economic activities, especially the real estate market, experts have called on investors to adopt land banking as a hedge against depreciation of the naira.
24 Jul 2023
Dissatisfied by the prolonged foreign exchange crisis, stockbrokers have stressed the need for investors to consider hedging their portfolio by purchasing dollar-denominated assets (foreign stocks, dollar mutual funds, Eurobonds and dollar-fixed deposits) to mitigate the impact of the currency devaluation.
17 Jul 2023
A Financial expert and chairman of Amaecom Conglomerate, Marcel Ofomata, has raised concern over multiple taxation, naira devaluation and low quality products, saying they impede businesses in the country.