Nigeria’s Foreign Tax Earnings Springs Up Over Weak Naira Nigeria has witnessed a significant surge in tax earnings from foreign firms, with figures nearly doubling in the span of one year. This significant fiscal boost is likely due to the weakening of the naira, which has...

Dangote, Nestle, Others Lose N1.7tn to Naira Depreciation Dangote Group, Nestle Nigeria and MTN Nigeria, alongside four of Nigeria’s most capitalised companies, lost N1.7tn to the depreciation of the naira in 2023. According to an analysis of their financial statements published on the website of the...

Nigerian Breweries Incurred N106.3bn Loss in 2023 – Report Nigerian Breweries Plc, the biggest brewer in the country, recorded an after-tax loss of N106.31 billion, driven by foreign exchange losses that strained its financial performance. The brewer swung to a loss from a profit of N105.8...

Nigerian Breweries Incurred N106.3bn Loss in 2023 – Report Nigerian Breweries Plc, the biggest brewer in the country, recorded an after-tax loss of N106.31 billion, driven by foreign exchange losses that strained its financial performance. The brewer swung to a loss from a profit of N105.8...

Nigeria Import Grew to N35.9tn in 2023 – NBS Nigeria’s total imports grew to N35.9tn in 2023, from N25.5tn recorded in 2022, according to data by the National Bureau of Statistics. A breakdown of the data showed that in the first and second quarters of 2023,...

Naira Maintains Stability, Exchanges for N1,572.86 per Dollar The foreign exchange market began on a positive note on Monday as the naira appreciated to N1,572.86 per dollar from N1,602.75/$1 on Friday on the official market. At the parallel market, the nation’s currency closed at N1,590 per...