Nigeria’s export boom is a mirage, say experts – weak institutions, FX collapse distort growth
Nigeria’s export earnings hit a record high of N77.4 trillion in 2024, but this headline figure hides a deeper concern: ...
Tag: Naira Devaluation
News and stories about Naira Devaluation
Naira devaluation, subsidy removal weakens business confidence in Nigeria – Report
Business confidence in Nigeria has declined sharply due to the impact of naira devaluation and the removal of fuel subsidies, ...
Cement should be N10,000 per bag due to naira devaluation – Abdul Samad Rabiu
Abdul Samad Rabiu, chairman of BUA Cement, has stated that the price of cement should be around N10,000 per bag, ...
How Okomu Oil and Presco have become profit powerhouses in Nigeria’s Agro Industry
Agro-based companies listed on the Nigerian Exchange have reported yet another period of profitability growth in the first half of ...
Dangote lost $651 million amid sell-offs in Dangote Cement and naira’s rapid fall
Aliko Dangote, Africa's richest man, lost $651 million due to naira devaluation and sell-offs in Dangote Cement, affecting his wealth.
Nigeria may get up to 0.3% of 2024 GDP as revenue from windfall tax on banks’ FX gains
Nigeria's proposed windfall tax on foreign-currency revaluation gains of Nigerian banks could generate up to 0.3% of the country's Gross ...
Experts identify reasons why Multinationals are exiting Nigeria in droves
A significant factor contributing to the exodus of multinational companies is the declining purchasing power of Nigerian consumers
Nigeria’s trade with UK crashes by 25% in Q1 2024 on lower exports
Nigeria’s total trade with the United Kingdom has plummeted by 25% in the first quarter of 2024 despite the higher ...
Why Nigeria’s record trade surplus is a justification for a weaker naira
Advocates of weaker currencies, love to sing the praises of a floundering local currency.
Nigeria’s earnings from crude oil export rise by 50.2% to N15.4 trillion in Q1 2024
The value of Nigeria’s crude oil export earnings increased by 50.2% in the first quarter of 2024 to N15.4 trillion, ...
