Naira Continues to Appreciate, Closes at N1,560.57/$ Officially
The Nigerian Autonomous Foreign Exchange (NAFEM) saw a notable appreciation on Tuesday, with the closing rate standing at N1560.57 to $1.
This represents a significant gain of N36.67 or 2.35% from Monday’s closing rate of N1,597.24/$1.
Additionally, the Naira...
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,...
