Economic Boost: Naira Appreciates by 0.6% at Official Exchange Market

On Monday, the Naira appreciated in the official market, trading at N1,607.15 to the dollar. Data from the FMDQ Exchange, the platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), indicated that the Naira gained N9.93. This marks a 0.61% increase compared to the previous trading day on August 2, when the Naira... Read More

Nigeria Faces Employment Crisis as Multinational Companies Pull Out

Nigeria’s economic crisis, driven by the removal of petrol subsidies and FX window unification, has led to the exit of several multinational companies. Diageo, on June 11, announced selling its 58.02% stake in Guinness Nigeria to Tolaram, joining 15 other multinationals like Kimberly-Clark, Procter & Gamble, GlaxoSmithKline, Unilever, and Sanofi-Aventi Nigeria in reducing or... Read More