Inflation in Nigeria: How Rising Costs Are Impacting Consumers.
Inflation has become a persistent issue in Nigeria, a challenge that continues to weigh heavily on consumers nationwide. Defined as the increase in the prices of goods and services over some time, inflation erodes purchasing power and leads to economic uncertainty. In Nigeria, the inflation rate has been on a sharp incline, affecting the livelihoods […]
What Does the Rising Naira-Dollar Disparity Mean for Nigerian Businesses? PT. 3
“Although we have tried our best to keep the expenses low, our operating costs have increased significantly due to the global factors in recent times. This has brought us to a tough decision of a 10% general increase on all our products.” The above is an excerpt from a recent notice of a price increase […]
How does the Naira-Dollar Disparity Affect Nigerian Businesses? PT. 2
This article is a continuation of “Global Markets – What Does The Rising Naira to Dollar Disparity Mean For Nigerian Businesses? PT 1. “ Read it HERE. Let’s find out how the naira to dollar exchange rate affects businesses in Nigeria. Customers are losing buying power: According to the National Bureau of Statistics, Nigeria, the annual […]
Global Markets – What Does The Rising Naira-Dollar Disparity Mean For Nigerian Businesses? PT 1.
From the beginning of the year, the Nigerian Naira has witnessed a rising disparity with the US Dollar; reaching an all-time highest exchange rate of N1 – $710 in the previous month. Current data shows that the black market sells a dollar for N745. Even with the fluctuating exchange rate, the Central Bank of Nigeria […]