...Past FX woes, caution fingered Nigeria’s largest companies are tightening spending, taking a cautious approach on new investments due to past exchange rate shocks and high interest rates. An analysis of half-year financial reports from 18 big firms listed on the Nigerian Exchange (NGX) shows a 12.7 percent drop in capital expenditure (CAPEX) — the money businesses spend on acquiring, maintaining, or upgrading physical assets such as property, industrial buildings, or equipment. Collectively, the blue-chip companies spent N1
...Past FX woes, caution fingered Nigeria’s largest companies are tightening spending, taking a cautious approach on new investments due to past exchange rate shocks and high interest rates. An analysis of half-year financial reports from 18 big firms listed on the Nigerian Exchange (NGX) shows a 12.7 percent drop in capital expenditure (CAPEX) — the money businesses spend on acquiring, maintaining, or upgrading physical assets such as property, industrial buildings, or equipment. Collectively, the blue-chip companies spent N1