forex challenges

  1. Naira Devaluation Blamed as Dangote Sugar Faces ₦172 Billion Forex Losses in 2023

    Nigeria Naira Devaluation Blamed as Dangote Sugar Faces ₦172 Billion Forex Losses in 2023

    Dangote Sugar Refinery Plc faces financial headwinds as it reports a substantial loss before tax amounting to N108.92 billion in its 2023 annual report. The staggering foreign exchange losses of N172.198 billion, attributed to the devaluation of the naira, lead to a 53% depletion of...
    • Wakanda
    • Article
    • 1 min read
    • annual report dangote sugar financial loss forex challenges naira devaluation
    • Category: Business
  2. Exit Fears: Nestle Nigeria's Financial Woes Spark Worries Among Investors

    Nigeria Exit Fears: Nestle Nigeria's Financial Woes Spark Worries Among Investors

    Nestle Nigeria Plc has encountered a significant financial setback, reporting a loss before tax of N104 billion for the fiscal year 2023, a stark contrast to the N71 billion profit recorded during the same period in 2022. The company's 2023 financial statement, disclosed on the NGX on February...
    • Wakanda
    • Article
    • 2 min read
    • financial loss forex challenges nestle nigeria nestle nigerias financial woes ngx report shareholder funds
    • Category: Business

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