Forex scarcity, others put pressure on FMCG companies’ profits

Analysts have identified scarcity of foreign exchange, inflationary pressures and rising input costs due to naira devaluation as responsible for the shrinking profit margins of some fast-moving consumer goods companies listed on the Nigerian Exchange Limited despite an overall increase in revenue. An analysis of unaudited financial statements of consumer goods companies by our correspondent […]

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FX Squeeze: Manufacturers Begin to Look Inward for Survival

The illiquidity in the Nigeria’s foreign exchange market is forcing operators in the Nigerian manufacturing sector to look inward for local raw materials to reduce costs and remain afloat, writes Dike Onwuamaeze The Nigerian industrial sector is in dire financial straits. The sector is faced with challenging foreign exchange squeeze. This has constrained growing number […]

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