Tag
NAIRA DEVALUATION
News and stories about Naira Devaluation
The Managing Director of Nigeria Breweries Plc, Mr. Hans Essaadi has outlined certain macroeconomic issues that will affect the company’s performance in 2024. These inlcude; high inflation, naira devaluation, the “Japa syndrome”, insecurity and pressure on consumer’s disposable income.
The devaluation of the Naira has exerted a substantial influence on the net asset value of pension fund assets in Nigeria over the past year.
Despite the substantial FX losses incurred by MTN Nigeria in FY 2023, approximately 83% of that amount remains unrealized.
Elon Musk’s internet service company, Starlink, has increased the price of its hardware by 112% in Nigeria.
Financial analysts at FSL Securities Limited have said that with the current naira devaluation, the 2024 budget size is insignificant to drive the economy.
Eterna Plc released its unaudited financial statements for FY 2023, posting a pre-tax loss of N7.9 billion, which reflects a 476% decline from the N2.1 billion pre-tax profit posted in 2022.
The current year seems to be presenting Nestle Nigeria with considerable challenges, leading to a break in earnings trends and possibly an anticipated break in its five-year streak of consistently paying dividends to shareholders.
Analysts at FocusEconomics have said that the fuel subsidy removal fallout and the devaluation of the naira will fan inflationary flames through the second half of 2023.
As naira continues freefall against major currencies, especially the dollars, the nation’s airlines are feeling the brunt more than expected.
The Central Bank of Nigeria (CBN) in an official statement has announced the unification of all segments of the forex market collapsing all windows into one.
Backstory Across every stakeholder spectrum in the Nigerian economy (i.e. investors, consumers, policymakers or economic observers), one persistent...
The topic of devaluation is one that never quite goes away in Nigeria as the nation’s currency is...