...Losses drop to N28.7bn from N951.7bn in three months Foreign exchange (FX) losses of major companies in Nigeria fell in the first quarter (Q1) of 2025 on the back of relative stability of the naira. A BusinessDay survey of 16 companies across six sectors—telecommunications, consumer goods, cement, breweries, oil and gas, and healthcare—revealed a dramatic drop in FX losses of the firms from N951.7 billion in Q1 2024 to N28.7 billion in the corresponding period of 2025. This represents a 33-time drop from the s
...Losses drop to N28.7bn from N951.7bn in three months Foreign exchange (FX) losses of major companies in Nigeria fell in the first quarter (Q1) of 2025 on the back of relative stability of the naira. A BusinessDay survey of 16 companies across six sectors—telecommunications, consumer goods, cement, breweries, oil and gas, and healthcare—revealed a dramatic drop in FX losses of the firms from N951.7 billion in Q1 2024 to N28.7 billion in the corresponding period of 2025. This represents a 33-time drop from the s