Nigeria’s Economy to Slip from First to Fourth Place – Understanding the Implications, Surprises, and Citizens Perspectives
Nigeria’s Economy – In 2022, Nigeria recorded a GDP of 477.4 billion US dollars, to become the largest in Africa –a few years later, with a steady decline in GDP among other factors, the country’s economy is set to slip to fourth place according to forecasts from the International Monetary Fund. The IMF’s World Economic […]
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 […]